Next Step Federal Credit Union
Troy, NY·Charter 9486·cu:9486·Credit union RBC / net worth
- #87 of 268Total assets in New York
- 4,050members
- Top 5%Return on assets vs. peers
- Top 8%Efficiency vs. peers
- Top 9%Lowest cost of deposits in the U.S.
Performance over time
7 available quarters · Gaps indicate missing data · Reported period-end total assets; consolidated for FFIEC 031.
Inside the balance sheet
Credit union · Shares of reported gross loans. Missing components are not treated as zero.
What stands out at Next Step Federal Credit Union
5 of 23 FORFI signals stand out against 770 similar credit unions, based on NCUA data for the quarter.
Membership shrinking faster than peersWorth a look: Membership 2nd quarter-12.0%peers -0.2%-11.7 pp
Next Step Federal Credit Union's membership declined 12.0% over the past year. The median among 770 similar credit unions was -0.2%.
| This institution | Peer median | Difference |
|---|---|---|
| Membership, 12-month growth | ||
| -12.0% | -0.2% | -11.7 pp |
FORFI flags a change when an institution sits in the outer tail of similar institutions and the gap is large enough to matter. Peers: 770 credit unions with $100 million to $300 million in assets that filed NCUA data for the same quarter. Next Step Federal Credit Union itself is left out of every peer median and percentile. How signals work
Return on assets rising while the peer median holds steadyStrength: Earnings1.95%peers 0.81%+114 bps
Next Step Federal Credit Union's annualized return on assets rose 199 bps over the past year to 1.95%. Among 770 similar credit unions, the median was essentially unchanged.
| This institution | Peer median | Difference |
|---|---|---|
| Annualized return on assets | ||
| 1.95% | 0.81% | +114 bps |
| 12-month change | ||
| +199 bps | 0 bps | +199 bps |
FORFI flags a change when an institution sits in the outer tail of similar institutions and the gap is large enough to matter. Peers: 770 credit unions with $100 million to $300 million in assets that filed NCUA data for the same quarter. Next Step Federal Credit Union itself is left out of every peer median and percentile. How signals work
Efficiency ratio falling while the peer median risesStrength: Efficiency57.4%peers 77.0%-19.6 pp
Next Step Federal Credit Union's efficiency ratio fell 29.7 percentage points over the past year to 57.4%. Among 770 similar credit unions, the median rose 0.4 percentage points.
| This institution | Peer median | Difference |
|---|---|---|
| Efficiency ratio | ||
| 57.4% | 77.0% | -19.6 pp |
| 12-month change | ||
| -29.7 pp | +0.4 pp | -30.0 pp |
FORFI flags a change when an institution sits in the outer tail of similar institutions and the gap is large enough to matter. Peers: 770 credit unions with $100 million to $300 million in assets that filed NCUA data for the same quarter. Next Step Federal Credit Union itself is left out of every peer median and percentile. How signals work
Net charge-offs falling faster than peersStrength: Asset quality0.21%peers 0.32%-11 bps
Next Step Federal Credit Union's annualized net charge-off rate fell 97 bps over the past year to 0.21%. Among 770 similar credit unions, the median fell 1 bps.
| This institution | Peer median | Difference |
|---|---|---|
| Annualized net charge-off rate | ||
| 0.21% | 0.32% | -11 bps |
| 12-month change | ||
| -97 bps | -1 bps | -96 bps |
FORFI flags a change when an institution sits in the outer tail of similar institutions and the gap is large enough to matter. Peers: 770 credit unions with $100 million to $300 million in assets that filed NCUA data for the same quarter. Next Step Federal Credit Union itself is left out of every peer median and percentile. How signals work
1 more observation
- Delinquent loans falling while the peer median risesAsset quality
Key facts
- Next Step Federal Credit Union is a federally chartered credit union headquartered in Troy, New York. It reported $108 million in total assets for the quarter ended June 30, 2026.
- Shares and deposits totaled $98.9 million, up 0.7% from a year earlier, and loans totaled $36.4 million, up 3.7%.
- Its net interest margin on average assets was 2.92% and its annualized return on assets was 1.95% for the quarter.
- Its cost of all shares and deposits was 0.75%, compared with a median of 1.30% among 770 similar credit unions with $100 million to $300 million in assets.
- It served 4,050 members, down 12.0% from a year earlier.
Scorecard against peers
Capitalization
Liquidity & funding
Margin & yield
Income & expense
Asset quality
Charge-offs & allowance
Arrows show whether the value sits above or below the peer median. Colour shows whether that side is favourable for the measure: green favourable, red unfavourable, grey where neither side is (for example, a lower loan-to-core-deposit ratio is favourable, so a negative gap is green). Peer medians cover the same source, form, period, institution type and asset band, and count this institution in its own cohort. The peer line on every chart reads the same cohort. Regulatory definitions differ from FORFI quarterly estimates.
Watch items
Screening prompts computed from this filing only. Thresholds follow common review conventions and interagency concentration references; they are not supervisory ratings or predictions.
Public filings show what changed. Internal data shows why.
With Next Step Federal Credit Union's own data, FORFI would look at: Which member segments are going inactive, and what would re-engage them.
Analysis workspaces
Sources and identifiers
- Institution
- Next Step Federal Credit Union · Credit union
- NCUA charter
- 9486
- Reporting period
- Peer group
- 770 credit unions with $100 million to $300 million in assets that filed NCUA data for the same quarter. Next Step Federal Credit Union itself is left out of every peer median and percentile.
Figures are FORFI calculations from public regulatory filings, shown as reported. Signals are descriptive screening rules, not supervisory ratings, credit opinions or forecasts. Methodology
Income & calculation basis
NCUA · 2026-04-01 through 2026-06-30 · Annualization factor 4.010989 applies to ROA and margin only.
| Measure | FORFI calculation |
|---|---|
| $521.86K | |
| $963.71K | |
| $183.25K | |
| $780.46K | |
| $469.44K | |
| $717.41K | |
| $10.63K | |
| $10.63K | |
| 1.95% | |
| 2.92% | |
| 57.40% |
How to interpret differences
Flows cover the selected income window. Balance-sheet amounts, members and staffing are as of the filing date.
Published FDIC references use the regulator's own averaging, annualization and adjustments; the convention selector changes FORFI calculations only. Source-provided averages are used when available; endpoint fallbacks are labeled estimates.
Missing inputs remain unavailable. Credit-union margins use average assets and are not comparable with bank margins over earning assets.
AFS + HTM securities exclude deposits at other institutions. Broader investment totals may overlap cash; do not add them to cash without reconciling components.
Regulatory source definitionsFiling imported 2026-09-16T13:43:41.229347+00:00. Separate reference provenance is included in the export.