SoFi Technologies reports record membership and $45.5 billion in deposits

SoFi Technologies has experienced significant growth in both its membership base and its deposit holdings following its transition into a national bank. The company’s membership reached 15.8 million in the second quarter of 2026, a 35% year-over-year increase. This growth is accompanied by rising cross-selling momentum, with 51% of new products in Q2 2026 being opened by existing members.

Since acquiring Golden Pacific Bancorp in February 2022 to secure a national bank charter, SoFi’s deposit base has grown from $1.2 billion to approximately $45.5 billion. This shift allows the company to fund lending operations directly through consumer deposits rather than relying solely on securitized debt or warehouse credit facilities. Deposits now represent 94% of the company’s total liabilities.

Financial diversification has also increased, with fee-based revenues reaching $472.3 million. The company’s premium subscription tier, SoFi Plus, has surpassed 200,000 paid subscribers, further driving engagement and product adoption among its user base.