# IBEW LU 278
CORPUS CHRISTI, TX · NCUA charter 12426 · asset band <$50M · latest filing 2018-09 · stopped filing after 2018-09 (departed; for a credit union that is almost always a merger)
Share link (named URL with a preview card): https://getbookiq.com/cu/ibew-lu-278-12426

Who the members are: federal charter, multiple common bond, organized 1958, low-income designated. 665 members of 1,000 potential (66.5% of the field); checking penetration 0% (share draft accounts per 100 members); loans per 100 members 19.

**Verdict on the desk:** this could be *stressed*. Composite score 8 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $1.9M |
| Members | 665 (-13.9% YoY) |
| Full-time staff | 2 |
| Net worth | $127,298 |
| Net worth ratio | 6.7% (p1 of band) |
| ROA (annualized) | 0.46% (p50 of band) |
| Total delinquency | 0.05% (p15 of band) |
| Net charge-offs (annualized) | -1.72% (p0 of band) |
| Loans / shares | 42% (p25 of band) |
| Cash / assets | 45.3% |
| Borrowings / assets | 0.00% |
| Net interest margin | 3.26% (p51 of band) |
| Operating expense / assets | 4.41% (p75 of band) |
| Vehicles % of loans | 69% (p73 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 0% |
| Third-party paper % of net worth | 0% (p45 of band) |
| Vehicle delinquency | 0.00% (p14 of band) |
| Vehicle NCO | 0.00% (p24 of band) |
| Repossessed % of vehicle book | 0.00% (p45 of band) |
| Real estate % of loans | 0% |
| Credit cards % of loans | 0% |
| Unsecured % of loans | 31% |
| Commercial % of net worth | 0% |
| Core shares % of member funds | 100% |
| Certificates % of member funds | 0% |
| Average share balance | $2,686 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | – |
| Loans outstanding per 100 members | 19% |
| Loans granted per 100 members, annualized | 8% |
| Average loan balance | $5,856 |
| Loans granted, annualized | $353,336 |

## Flags firing in the latest filing

- **thin capital** (`cap_low`)
- **capital below 7%** (`cap_critical`)
- **margin squeeze** (`earn_nim_squeeze`)
- **assets shrinking** (`shrink_assets`)
- **members leaving** (`shrink_members`)
- **loan book shrinking** (`shrink_loans`)
- **auto monoline** (`str_vehicle`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 1 | auto monoline |  |
| 2016-06 | 4 | losing money, delinquency 2x band, charge-offs p90 |  |
| 2016-09 | 6 | net worth falling, expense trap |  |
| 2016-12 | 7 | thin capital |  |
| 2017-03 | 11 | margin squeeze, delinquency rising, assets shrinking, members leaving, loan book shrinking | expense trap |
| 2017-06 | 11 | expense trap | delinquency rising |
| 2017-09 | 9 |  | delinquency 2x band, margin squeeze |
| 2017-12 | 12 | capital below 7%, margin squeeze |  |
| 2018-03 | 10 | delinquency 2x band, repo signal | losing money, charge-offs p90, net worth falling, expense trap |
| 2018-06 | 8 |  | delinquency 2x band, repo signal |
| 2018-09 | 8 |  |  |

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

- nothing found for that search

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=12426 (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/10.json (key "12426", 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=12426
- 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