Service Federal Credit Union of Portsmouth, N.H., went from having zero commercial delinquencies to nearly $98 million in 12 months.
Service FCU ($6.46 billion in assets, 380,457 members) held $757.1 million in commercial loans on Dec. 31, accounting for 14.2% of total loans. The delinquency rate was 12.91% for commercial loans, compared with 0.83% for other loans, according to NCUA data drawn from Callahan's Peer Suite.
Service FCU's commercial delinquency rates went from zero to 4.1% in March 2025, and ended the year at 12.9%, with $97.7 million at least 60 days late. Its commercial net charge-off rates have remained at zero.
Contact Jim DuPlessis at Jim.DuPlessis@arc-network.com.
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