Credit unions held $6,273.6 million in private student loans on June 30, 2026, down 6.6% from $6,716.5 million a year earlier, according to call reports filed with the National Credit Union Administration. 708 of the country's 4,299 federally insured credit unions reported a balance, covering 557,777 loans.
The business is concentrated: Navy Federal Credit Union held $1,338.1 million, more than a fifth of the total, followed by First Tech Federal Credit Union with $735.9 million and PenFed (Pentagon Federal) with $640.6 million. The 15 largest holders had 62% of all credit union private student loans.
Why this matters now
The federal government stopped making new Grad PLUS loans to graduate and professional students on July 1, 2026, and new limits on federal borrowing took effect the same day. Students who need more than the new federal limits will have to look to private loans from banks, credit unions and other lenders. Credit union balances fell over the year to June, before those changes took effect, so the June 2026 figures are a baseline for what comes next.
Largest credit union holders, June 30, 2026
| Credit union | State | Balance, June 2026 | June 2025 | Loans | Interest rate reported |
|---|---|---|---|---|---|
| Navy Federal | VA | $1,338.1M | $1,278.6M | 67,386 | 6.15% |
| First Technology | CA | $735.9M | $134.8M | 19,074 | 9.09% |
| Pentagon | VA | $640.6M | $792.8M | 16,907 | 3.53% |
| Harvard | MA | $260.3M | $281.2M | 8,798 | 7.50% |
| Fourleaf | NY | $124.4M | $154.2M | 3,212 | 5.69% |
| American Airlines | TX | $114.5M | $85.6M | 1,420 | 5.99% |
| Baxter | IL | $102.3M | $107.7M | 3,003 | 9.64% |
| University Of Wisconsin | WI | $97.2M | $106.3M | 33,231 | 9.69% |
| Affinity Plus | MN | $92.9M | $93.0M | 3,603 | 7.45% |
| Eastman | TN | $81.4M | $75.1M | 4,565 | 4.40% |
| Georgia's Own | GA | $65.0M | $78.3M | 4,633 | 6.25% |
| Star One | CA | $60.7M | $54.4M | 958 | 5.62% |
| Wright-Patt | OH | $60.3M | $59.3M | 2,418 | 8.80% |
| Boeing Employees | WA | $59.3M | $57.1M | 3,221 | 7.99% |
| Teachers | NY | $54.2M | $67.9M | 1,014 | 5.79% |
Private (non-federal) student loans outstanding, from Schedule A of the NCUA 5300 Call Report. "Interest rate reported" is the rate each credit union entered on the call report for this loan type; it is not an offer and actual rates depend on credit and loan terms. Names are shortened. The full list of 708 credit unions is in the download.
Rates and repayment
The median interest rate reported by credit unions for private student loans was 7.50% in June 2026, down from 7.85% a year earlier. Loans 30 to 59 days past due totaled $42.5 million, and loans two months or more past due totaled $49.0 million, or 0.78% of balances. Credit unions charged off $39.6 million in private student loans in the first half of 2026 and recovered $7.2 million on loans charged off earlier. Credit unions also file a separate "reportable delinquency" total of $74.2 million for these loans, which follows NCUA reporting rules and does not equal the sum of the past-due amounts above; both are in the download.
What borrowers should know
- Use federal student loans first, up to the new limits. They have fixed rates, income-driven repayment and forgiveness options that private loans do not.
- Private loans usually require a credit check, and many students need a cosigner. A cosigner is fully responsible if you do not pay.
- Compare fixed and variable rates, fees and what happens if you lose your job or go back to school.
- Many credit unions require membership; some partner with lending services that let you apply online.
Source
National Credit Union Administration, Credit Union and Corporate Call Report Data, quarterly files for June 2026 and June 2025 (FS220H account 698A balance, 963A number, 595A rate; 020T to 023T past due amounts; 041T reportable delinquency; 550T and 551T charge-offs and recoveries), downloaded October 21, 2026. Totals and the median are our calculation. Grad PLUS change: U.S. Department of Education, under Public Law 119-21. U.S. government data in the public domain. Our table is available under CC BY 4.0. Credit "My Credit Guide (mycreditguide.org)".
Steven Reynolds, "Credit Union Private Student Loans," My Credit Guide, October 21, 2026, https://mycreditguide.org/data/credit-union-private-student-loans/.