# FIRSTLIGHT
El Paso, TX · NCUA charter 10174 · asset band $1-10B · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/firstlight-10174

Who the members are: federal charter, multiple common bond, organized 1955, low-income designated, minority depository institution. 98,481 members of 1,106,949 potential (8.9% of the field); checking penetration 70% (share draft accounts per 100 members); loans per 100 members 46.

**Verdict on the desk:** this could be *indirect buyer*. Composite score 2 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $1.63B |
| Members | 98,481 (-1.4% YoY) |
| Full-time staff | 340 |
| Net worth | $166.2M |
| Net worth ratio | 10.2% (p38 of band) |
| ROA (annualized) | 0.71% (p50 of band) |
| Total delinquency | 0.47% (p34 of band) |
| Net charge-offs (annualized) | 1.80% (p98 of band) |
| Loans / shares | 87% (p53 of band) |
| Cash / assets | 16.6% |
| Borrowings / assets | 0.00% |
| Net interest margin | 4.19% (p94 of band) |
| Operating expense / assets | 3.94% (p84 of band) |
| Vehicles % of loans | 29% (p57 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 61% |
| Third-party paper % of net worth | 146% (p52 of band) |
| Vehicle delinquency | 0.59% (p52 of band) |
| Vehicle NCO | 3.15% (p96 of band) |
| Repossessed % of vehicle book | 0.10% (p58 of band) |
| Real estate % of loans | 28% |
| Credit cards % of loans | 5% |
| Unsecured % of loans | 10% |
| Commercial % of net worth | 230% |
| Core shares % of member funds | 52% |
| Certificates % of member funds | 29% |
| Average share balance | $7,206 |
| Participations bought / yr | $221.7M |
| Participations sold / yr | $0 |
| Participations outstanding | $129.6M |
| Loans outstanding per 100 members | 46% |
| Loans granted per 100 members, annualized | 9% |
| Average loan balance | $28,050 |
| Loans granted, annualized | $265.0M |

## Participation posture (from the same filings)

Bought $221.7M and sold $0 in the latest annualized quarter; $129.6M outstanding purchased (78.0% of net worth), $1.0M sold and retained. Sold in 3 and bought in 2 of the last 8 quarters. Shares 3.3% year over year.

## Flags firing in the latest filing

- **charge-offs p90** (`aq_nco_high`)
- **3rd-party paper>100% NW** (`str_thirdparty`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 3 | thin capital, charge-offs p90, 3rd-party paper>100% NW |  |
| 2016-06 | 2 |  | charge-offs p90 |
| 2016-09 | 2 |  |  |
| 2016-12 | 2 |  |  |
| 2017-03 | 3 | charge-offs p90 |  |
| 2017-06 | 3 |  |  |
| 2017-09 | 3 |  |  |
| 2017-12 | 4 | expense trap |  |
| 2018-03 | 3 |  | expense trap |
| 2018-06 | 3 |  |  |
| 2018-09 | 3 |  |  |
| 2018-12 | 3 |  |  |
| 2019-03 | 3 |  |  |
| 2019-06 | 3 |  |  |
| 2019-09 | 3 | expense trap | thin capital |
| 2019-12 | 3 |  |  |
| 2020-03 | 2 |  | charge-offs p90 |
| 2020-06 | 4 | thin capital, net worth falling, charge-offs p90 | expense trap |
| 2020-09 | 2 |  | net worth falling, charge-offs p90 |
| 2020-12 | 2 |  |  |
| 2021-03 | 3 | net worth falling |  |
| 2021-06 | 3 | expense trap | net worth falling |
| 2021-09 | 3 |  |  |
| 2021-12 | 2 |  | thin capital |
| 2022-03 | 2 | charge-offs p90 | expense trap |
| 2022-06 | 3 | expense trap, delinquency rising | charge-offs p90 |
| 2022-09 | 4 | charge-offs p90 |  |
| 2022-12 | 4 |  |  |
| 2023-03 | 3 |  | charge-offs p90 |
| 2023-06 | 4 | charge-offs p90, leaning on borrowings | delinquency rising |
| 2023-09 | 6 | delinquency rising, loans>95% of shares |  |
| 2023-12 | 6 |  |  |
| 2024-03 | 7 | members leaving |  |
| 2024-06 | 8 | net worth falling |  |
| 2024-09 | 6 |  | delinquency rising, net worth falling |
| 2024-12 | 6 |  |  |
| 2025-03 | 3 | losing money | expense trap, leaning on borrowings, loans>95% of shares, members leaving |
| 2025-06 | 4 | net worth falling |  |
| 2025-09 | 2 |  | losing money, net worth falling |
| 2025-12 | 2 |  |  |
| 2026-03 | 2 |  |  |

## In the news (Google News, unfiltered, newest first; check the city)

- 2026-06-06 [Margie Salazar - Federal Reserve Bank of Dallas](https://news.google.com/rss/articles/CBMia0FVX3lxTE5qRFVGdzV1dmNDbGxFdk81SUFGRnhUM08wRzM5OUIxU3Zyc1FZVzN0MHlZN1hQdEJPelh1QUh0WHlwTGd4VWVDWUlXUjcwQS04QnlnbEZ6TVE0VFNpMnRhY1BJQ19tRUsxTHFJ?oc=5) · Federal Reserve Bank of Dallas
- 2023-01-11 [FirstLight Federal Credit Union in Texas names new CEO - American Banker](https://news.google.com/rss/articles/CBMipgFBVV95cUxOUXFJNFMtcEp1ajBiY09rY2dEeEtPUHZSeHVYdzFJZ0x6STgzdXBCYVA3T1hoby1mZGZVVEdXcy1KSGNkT3QxMGRJOXpMVjRGSWxzUkdNckVuV2RwN2FJUXdPUXFGdmI0dDI3Q2UzbGY3ZFd2NnZvTG5sblp2MnJVOGI0QjlsSVJsVnU2RGlZcDhnSnRtTHd3Qjh6MGREWF82cmpiNFV3?oc=5) · American Banker
- 2024-01-08 [FirstLight to unveil revamped Kenworthy Engagement Center for member-focused services - KFOX](https://news.google.com/rss/articles/CBMi9wFBVV95cUxQQk4wNkl0aktmc2R1MjZhUVZfNzRUS0ZZa2NSYnBIYzFSWjhDMUhuYllWZFI0VEpLWk5yRE11OVBDckJmYlBLTkVSMUh5dEhiZndJLWktTEszMUZGUUJYdHFteG1GOFdMTlEzak50d1ppMjdBbV8zd29QOUplX2l2R3JWSkdKcFpSbkRab25tcVVKbFA5dkd6ZW9kaUlnc3pwcTZmYkp3bjBlcWtjcmJGdkM3OTRmZkZjcTNCdDVFdzR6TGszcUl2ZE0zTmU3bC03dlJFNDFpRjFwU2xIUjhzdUtrUGRBaThlNGpaM2F3RUdva09DdmpV?oc=5) · KFOX
- 2025-04-09 [WWE Superstar Sin Cara Announced as Grand Marshal for the 82nd Annual FirstLight Federal Credit Union Sun Bowl Parade - Tony the Tiger Sun Bowl | December 31, 2025 | El Paso, Texas - Sun Bowl Association](https://news.google.com/rss/articles/CBMi7gFBVV95cUxQeUM0d1d6eE9xemwtZmZlVjY5Nk9RSjBTSFVxd2hlNDZQSFN5VE93bE56NUJvZjA1M0dQUFFOOGlabE9yRW54Z2VFUTVSTFI3cENiVVUtX3BtSldLQVZlUlI4VzR0c0pOa3paVnNMckEzRWJ3elR3akhaZG1IMmQ0b0JLU2NheGFZa1lNdEJIRDY0UWVIX3ZYSVhaMEZXVWVHYTVYZXM0VG5tVzVPanBCTVhxVjdGSWZqZWx6dllZSDcta3pBT0g5Si12TGxhX2JVR0lybEF4WndQcWdqNGt2LUV4R2hCVWdZaS1TYTRR?oc=5) · Sun Bowl Association
- 2023-02-26 [Q&A: Margie Salazar, CEO, FirstLight Federal Credit Union - elpasoinc.com](https://news.google.com/rss/articles/CBMi2wFBVV95cUxOYUVXOGhLMTVXaTQxN2hhSXhXY3lWVmRyM2pfb0dBdGExTEhlbnpTNUV6LWt6Z25WN3NGTExiQWJGYWFPbVZBa24tUjVHdkNVR3JsRkNSUFlkSUxROVQ5ZW5pbWVzbEpNUUlPLURTYkxxbDFUTjRnOExtLS1XMFliczFPQkdTX1RRSWw4TTBDZHc0RnRMWWtvM3lDVkFxRTFKZ3ZWWUl2MXJNTVl1Mks2R2w0YUMwWEhPM21iMnZqRzY5TDhzTGRTcUdiZVl2QmFsY25oVUNnNm5LTGs?oc=5) · elpasoinc.com
- 2015-09-18 [Army names best post financial institutions - army.mil](https://news.google.com/rss/articles/CBMihgFBVV95cUxOVl9VTWdZUVpVd3VxTXNMTy1KNWZlWmtHMkNaRlJWSlBodTNZT2NIWUtYbGg5al9pQjlzM1VKQ3hNOTJySkFyR2MwbkNwRkxfZEtZMFRlVWgxWmdlUy1YRmowdHpXN1BoSGVfVXhNdnhQbTJMZ18wZVltdmVVa0JJY3N3T0d4QdIBiwFBVV95cUxQOFAtUHJuWUtQdjJWNDhURzkwTUc2cTVHdThLRnZMSGlTMWNwRkV6ZXpGbkhIZ181dHBqY3NfbERhT2M3VmNLZ2dxR01vLTNqUDVmQXowSWtJQ3lMdnMzU1VvblBiV2VzMTFBcklUc082QjB3cHhmUjlrTTFYVmlLaDczRjZtbUlMWTQw?oc=5) · army.mil
- 2023-01-16 [Meet The El Pasoan Who Is Making History As First Light’s First Female CEO - 93.1 KISS FM](https://news.google.com/rss/articles/CBMingFBVV95cUxOY0tBUjh4azc4OG1EWFF4RVJteEtTSzBXX3E3WTVwWXdoOVVvOHhodkEzbURUbXJaX2tFdml1Zlc3RGtXclhvQ3BrTElsS3dBSXpuYWdCOUVtbFM0MXpMNjhNTm1vdkw0cWpEd250S0NOdnJYWlVtMEQyVzNZRkZrbVlFTFNvZUJXWUFqa2cxZzdyNzJGSjRZVnh0cURZUQ?oc=5) · 93.1 KISS FM
- 2015-09-11 [Faces and Places: FirstLight branch opening - El Paso Times](https://news.google.com/rss/articles/CBMisgFBVV95cUxQOTRac2JjdUVuZTFhaGowbTM2NWViS3NVRmpfNTd2Z1ZBakRLNFZ5aE1VMU5kMTlLYlFxdHpidWRVWUl5TndWdV9FeXU3QXhtQXdpYU1rd1AtMVdhRlpkaFhfVjlybE9ZUWlyS1k1SHZna0J0OTdUVHVwMjNpUWhEOVFLNHZqSXB3cDdKZzh5VzhZNDdFRnVfU0FPSGhBdUNMandaVjE0VEVoZlp1YXI4emN3?oc=5) · El Paso Times

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=10174 (every cell opens its formula and NCUA account codes; the News tab is the same search)
- Latest row, JSON: https://getbookiq.com/cu-intel/data/summary.json · history: https://getbookiq.com/cu-intel/data/h/62.json (key "10174", columns cycle, assets, loans, shares, networth, nwr, roa, total_dq_pct, total_nco_pct, vehicle, veh_pct_loans, indirect, ind_pct_veh, ind_veh, ind_re, ind_comm, ind_other, ind_pct_loans, loans_n, granted_n_ytd, granted_ann, loan_pen, granted_pen, avg_loan_bal, loans_per_fte, veh_part, tp_pct_nw, veh_dq_pct, veh_nco_pct, repo_pct_veh, members_yoy, ltos, cash_pct, borrow_pct, nim_pct, opex_pct, risk_score, members, fte, cash_total, invest_sec, allowance_eff, int_income_ytd, int_exp_ytd, provision_eff_ytd, nonint_income_ytd, nonint_exp_ytd, net_income_ytd, n_flags, re_pct_loans, cc_pct_loans, comm_pct_loans, cert_pct_shares, core_pct_shares, part_buy_ann, part_sell_ann, pot_members, sh_draft_n, chk_pen, fom_pen, flags)
- Participation history: https://getbookiq.com/participation-desk/#cu=10174
- Field definitions: https://getbookiq.com/dictionary/#cu-ltos and the rest of the credit union dictionary
- Source: NCUA 5300 call report bulk files. Income fields are annualized by cycle month (Mar x4, Jun x2, Sep x4/3, Dec x1). Percentiles are within the asset band in the same quarter.

---
Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide