# PROGRESSIVE
MOBILE, AL · NCUA charter 11422 · asset band <$50M · latest filing 2023-09 · stopped filing after 2023-09 (departed; for a credit union that is almost always a merger)
Share link (named URL with a preview card): https://getbookiq.com/cu/progressive-11422

Who the members are: federal charter, government (single sponsor), organized 1956, low-income designated, minority depository institution. 667 members of 1,500 potential (44.5% of the field); checking penetration 42% (share draft accounts per 100 members); loans per 100 members 43.

**Verdict on the desk:** this could be *stressed*. Composite score 5 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $6.4M |
| Members | 667 (-3.0% YoY) |
| Full-time staff | 2 |
| Net worth | $1.1M |
| Net worth ratio | 17.5% (p73 of band) |
| ROA (annualized) | -0.15% (p16 of band) |
| Total delinquency | 1.98% (p80 of band) |
| Net charge-offs (annualized) | 0.44% (p75 of band) |
| Loans / shares | 61% (p51 of band) |
| Cash / assets | 47.1% |
| Borrowings / assets | 0.00% |
| Net interest margin | 3.10% (p38 of band) |
| Operating expense / assets | 3.98% (p70 of band) |
| Vehicles % of loans | 91% (p97 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 0% |
| Third-party paper % of net worth | 0% (p43 of band) |
| Vehicle delinquency | 1.91% (p81 of band) |
| Vehicle NCO | 0.28% (p73 of band) |
| Repossessed % of vehicle book | 0.00% (p46 of band) |
| Real estate % of loans | 2% |
| Credit cards % of loans | 0% |
| Unsecured % of loans | 6% |
| Commercial % of net worth | 0% |
| Core shares % of member funds | 88% |
| Certificates % of member funds | 2% |
| Average share balance | $5,741 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | – |
| Loans outstanding per 100 members | 43% |
| Loans granted per 100 members, annualized | 21% |
| Average loan balance | $11,149 |
| Loans granted, annualized | $1.5M |

## Flags firing in the latest filing

- **losing money** (`earn_negative`)
- **delinquency 2x band** (`aq_dq_high`)
- **delinquency rising** (`aq_dq_rising`)
- **members leaving** (`shrink_members`)
- **auto monoline** (`str_vehicle`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 4 | losing money, delinquency 2x band, repo signal, auto monoline |  |
| 2016-06 | 5 | charge-offs p90 |  |
| 2016-09 | 5 |  |  |
| 2016-12 | 4 |  | repo signal |
| 2017-03 | 8 | net worth falling, margin squeeze, repo signal, members leaving, loan book shrinking | charge-offs p90 |
| 2017-06 | 9 | delinquency rising |  |
| 2017-09 | 9 | charge-offs p90 | net worth falling |
| 2017-12 | 7 |  | repo signal, loan book shrinking |
| 2018-03 | 7 | net worth falling | delinquency rising |
| 2018-06 | 4 |  | margin squeeze, members leaving, net worth falling |
| 2018-09 | 5 | members leaving |  |
| 2018-12 | 4 | net worth falling | delinquency 2x band, members leaving |
| 2019-03 | 4 | delinquency 2x band, assets shrinking | charge-offs p90, net worth falling |
| 2019-06 | 4 |  |  |
| 2019-09 | 4 |  |  |
| 2019-12 | 5 | delinquency rising |  |
| 2020-03 | 4 |  | delinquency rising |
| 2020-06 | 3 |  | assets shrinking |
| 2020-09 | 3 | net worth falling | delinquency 2x band |
| 2020-12 | 3 |  |  |
| 2021-03 | 4 | margin squeeze |  |
| 2021-06 | 2 |  | losing money, net worth falling |
| 2021-09 | 2 | losing money | margin squeeze |
| 2021-12 | 1 |  | losing money |
| 2022-03 | 4 | net worth falling, delinquency 2x band, delinquency rising |  |
| 2022-06 | 3 |  | net worth falling |
| 2022-09 | 4 | members leaving |  |
| 2022-12 | 5 | net worth falling |  |
| 2023-03 | 5 | losing money, assets shrinking | delinquency rising, net worth falling |
| 2023-06 | 4 | delinquency rising | losing money, assets shrinking |
| 2023-09 | 5 | losing money |  |

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

- 2026-03-03 [RenoFi to expand AI-powered renovation financing after $22M Series B funding - HousingWire](https://news.google.com/rss/articles/CBMic0FVX3lxTE05ek5FcTY2N2JqUGNLSng0b09rMzJYb25KSzV6Rk9MWG9ESUNMa3F4dWUwT3N2VGF4SjNuZkhfb1V1cG9SYzdWZTVYbS1YNVFrRXp4bEVIUFp1dS16NU4tLThvQ3hzbkphLUsxbmhQRjZwVlk?oc=5) · HousingWire
- 2019-01-04 [PenFed deal feeds bankers' fears of unlimited credit union membership - American Banker](https://news.google.com/rss/articles/CBMipwFBVV95cUxOeWY0NUwxQmNzejE1ZS0zNUZxS1RlN25iSmRXNUpBZ19seExDVUk3UGphM19yMHVDSUQyWXhDTTN5Y1dvTGxtSnNBTHFfR0NNODZpNUFiM0JRNVlUS2t4YjZXRWxGbXZ5ZDAzVHFySExyX184VG9wZFJ4YmxZaFZpM09mTVhIb2Zka2d6UGNRdmwxck5rQ3RQTGNqckhKZE91YVgxeXdZMA?oc=5) · American Banker
- 2025-12-30 [$1.76M Progressive stacked UM/UIM coverage class action settlement - Top Class Actions](https://news.google.com/rss/articles/CBMi1gFBVV95cUxPM1k2Sy01eEkxcVZHTEdZVlJLbkRCX2FyWlRUdHgyVGQwOW1VbjllZGJsMWVnaHNHajF0SGx3M2Y3cXhwSURjN2lwaGdyTzdsYlZLbGVJUDZxRnlWWE1uRTdzYVc3aTFUNFJRNHBzSmxZTWRzVHF5M0VkVk15QS1DcjJpT1dRQmtpMlQ0Z3NickdwV0VQcERnR3U5MVRXSld4RjJsekQ1WE11TWw4RUd2R05fSm1yclhGZk1HN0lPN2NFdXZXYzVLdjFOclBsYkE1SC1nUHh3?oc=5) · Top Class Actions
- 2017-03-01 [David Koshers – Progressive Credit Union - Vanguard Law Magazine](https://news.google.com/rss/articles/CBMiiwFBVV95cUxONzhreGxXb3djSkxEVUFjSldhUFFDcE1mRUV5aGFxa1lpNDBjWEhsNlQwRDA5STRiUWpxWXVodHpUY29QYi1KejRIMkh6NTlHY1pDTEFxaXNNcDNSVHFPcXlHM0FGZ1dhYks1X2xqQm1wY0haYlVVQVlJTEFyYTRqTm5VYmpkckJreXlj?oc=5) · Vanguard Law Magazine
- 2019-08-14 [Raiders and America First Credit Union Announce Exclusive Partnership - Las Vegas Raiders](https://news.google.com/rss/articles/CBMinwFBVV95cUxPNWI0Zmk3ejFZR2NBYmNULTg3NXUtNUM5SHpyQmlITVRBZTNUWkZzQS1iMVhraFdwTnhXUjdQbWVzVjMtSFpVQzZockFtZEs4NEdha01xNnRaMDBlTmtzb1h3cURXeXJyZ3Rhb0lqRXRCMmQycHpNUGJLdTZjMGM1RGVuOVpSTHlnSkw2VjZpOHpXT3hfQzVhbFpTSU9MUFU?oc=5) · Las Vegas Raiders
- 2022-03-20 [Apple Federal Credit Union announces new Chief People Officer - CUInsight](https://news.google.com/rss/articles/CBMipAFBVV95cUxPbTFWdGtuRjFjVzVqZVExNDNTcFV3NkRDRWdNX2JsUkRhSWJ2blpSankzNGF3dkkxOHMzczV2czFmWnhTazR6dFlsTXNZNzJ5U0hOS1hOUXFtdHAxdkJpS2FEQjViY2prcG1nXzNRVDFEdXEtV3hyVF9MYXEwMUF2N3I2QUVsM3VUMkJ2c1VReW1NQzZHTXdTXzBuaGNOZmtFMnRvQg?oc=5) · CUInsight
- 2018-07-09 [TIC Federal Credit Union announces name change effective March 10 - WTVM.com](https://news.google.com/rss/articles/CBMipAFBVV95cUxQNnJmQ3p6RTRfOEJsRFRqT3ZIWWdfbFh0Tl9oclZmV3F2ZmNhUU9HZFhqWTlTQk10czRFRTJIYmdIcmVpby03djd6dDBVdjBkMVY0TU9Pb1lSUXJyMEh5SkJGeUFwYUZVcTZUT3N3QmZPazNnbjF2VHpYVk9VYUhseUVXTTE4cVFjZ3lGeXFRZklNV1lINm9MRWxfeTVLRGxkRVcxbNIBtwFBVV95cUxNbUlnRFFFa2oydHlsbXk4bVM0b25QSE1xS2YxanV5VUhrbWZfb2hRMTZ0bms5aHJ6RzQ5Y0V5RWdvSDUtN2FRUGlya2p0b2xTR0U5Mm1oczl4SWtDa0NUemNuQmRoLUF6UV9aNHBoQkRoQTZIRkdHOXBHUFEtS1V6aUhpMFduQ1FCVlhyS0tDelJxbHY0QzAyeDI4NmNiMW5KWE1MTDJDTFpRRmxLQ2RaZWV6X1prRjQ?oc=5) · WTVM.com
- 2019-05-19 [‘They Were Conned’: How Reckless Loans Devastated a Generation of Taxi Drivers (Published 2019) - The New York Times](https://news.google.com/rss/articles/CBMihAFBVV95cUxNZVBJc2t0d3hOcTVCWjdTNlpNMzRCdGxST3BBUk1lLXJlNFlSSERzU0xPbk93NnIxOUNrenltdnhVa1VzQ1BxVGZMQ1VoU041NVk3U1dzU3pITERQaEhQT2c5eWZ3bUNwSlc1RlE3Qkx2RVc5bktHV2pSRXNhY3lyeHJQb2M?oc=5) · The New York Times

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=11422 (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/30.json (key "11422", 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=11422
- 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.

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