# FRANKLIN FIRST
Greenfield, MA · NCUA charter 12604 · asset band $50-100M · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/franklin-first-12604

Who the members are: federal charter, multiple common bond, organized 1958, low-income designated. 7,387 members of 70,698 potential (10.4% of the field); checking penetration 58% (share draft accounts per 100 members); loans per 100 members 54.

**Verdict on the desk:** this could be *ordinary*. 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 | $88.5M |
| Members | 7,387 (1.0% YoY) |
| Full-time staff | 17 |
| Net worth | $7.6M |
| Net worth ratio | 8.6% (p8 of band) |
| ROA (annualized) | 1.14% (p72 of band) |
| Total delinquency | 0.63% (p51 of band) |
| Net charge-offs (annualized) | 0.21% (p46 of band) |
| Loans / shares | 61% (p50 of band) |
| Cash / assets | 19.6% |
| Borrowings / assets | 0.00% |
| Net interest margin | 4.32% (p84 of band) |
| Operating expense / assets | 3.82% (p60 of band) |
| Vehicles % of loans | 26% (p23 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 0% |
| Third-party paper % of net worth | 0% (p25 of band) |
| Vehicle delinquency | 1.01% (p70 of band) |
| Vehicle NCO | 0.35% (p57 of band) |
| Repossessed % of vehicle book | 0.00% (p38 of band) |
| Real estate % of loans | 50% |
| Credit cards % of loans | 6% |
| Unsecured % of loans | 22% |
| Commercial % of net worth | 0% |
| Core shares % of member funds | 64% |
| Certificates % of member funds | 15% |
| Average share balance | $6,045 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | – |
| Loans outstanding per 100 members | 54% |
| Loans granted per 100 members, annualized | 9% |
| Average loan balance | $12,253 |
| Loans granted, annualized | $14.2M |

## Flags firing in the latest filing

- **thin capital** (`cap_low`)
- **delinquency rising** (`aq_dq_rising`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 1 | thin capital |  |
| 2016-06 | 2 | losing money |  |
| 2016-09 | 2 |  |  |
| 2016-12 | 3 | net worth falling |  |
| 2017-03 | 2 |  | losing money |
| 2017-06 | 3 | delinquency rising |  |
| 2017-09 | 1 |  | net worth falling, delinquency rising |
| 2017-12 | 1 |  |  |
| 2018-03 | 1 |  |  |
| 2018-06 | 1 |  |  |
| 2018-09 | 1 |  |  |
| 2018-12 | 1 |  |  |
| 2019-03 | 2 | delinquency rising |  |
| 2019-06 | 1 |  | delinquency rising |
| 2019-09 | 1 |  |  |
| 2019-12 | 2 | delinquency rising |  |
| 2020-03 | 2 | losing money | delinquency rising |
| 2020-06 | 3 | net worth falling |  |
| 2020-09 | 3 | margin squeeze | losing money |
| 2020-12 | 3 |  |  |
| 2021-03 | 3 |  |  |
| 2021-06 | 2 |  | margin squeeze |
| 2021-09 | 2 |  |  |
| 2021-12 | 1 |  | net worth falling |
| 2022-03 | 4 | capital below 7%, losing money |  |
| 2022-06 | 5 | net worth falling |  |
| 2022-09 | 5 |  |  |
| 2022-12 | 3 |  | losing money, net worth falling |
| 2023-03 | 3 |  |  |
| 2023-06 | 3 |  |  |
| 2023-09 | 3 |  |  |
| 2023-12 | 3 |  |  |
| 2024-03 | 1 |  | capital below 7% |
| 2024-06 | 2 | assets shrinking |  |
| 2024-09 | 2 |  |  |
| 2024-12 | 1 |  | assets shrinking |
| 2025-03 | 1 |  |  |
| 2025-06 | 1 |  |  |
| 2025-09 | 1 |  |  |
| 2025-12 | 1 |  |  |
| 2026-03 | 2 | delinquency rising |  |

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

- 2025-12-18 [Franklin First, Greylock expected to merge credit unions in spring - Greenfield Recorder](https://news.google.com/rss/articles/CBMinwFBVV95cUxQSldLLUtLVHVCUE1Zak1pbnp5cVRqbmU1VzJLV0RGVk5LNjVBenR1T3FUczZ3djR2Um5WbW1mUWE0ZFRNclpfOWt4T29Wbk5KMVpPQ1JJNkdZTjNuRk9hUXpHaEs3dFYtcTh6T0s3YkRieVJjRlZMZWRjbXNNdk5YU3ZnaGtCM2NlSzZFR1Z2Sy1TRXVLV19IZzBQdngzUkU?oc=5) · Greenfield Recorder
- 2026-04-16 [Franklin First Federal Credit Union membership approves merger with Greylock Federal - The Berkshire Edge](https://news.google.com/rss/articles/CBMitAFBVV95cUxOY2c4X0UxSG5XbEtOYkw0VDViRnRWUnlaU0xKWFBFVW5ZUm9VVnZDVXBfQ3YyZF81d2djSVdkbHV5YkdwcFNqOXdFZUdzVzhMMlhwdW9iUjlkd2ZXSFFEZ2lKOWppaVpkZndybERHVmo2ZG5EeXdhR3ZlSWpSQzM2QU1OY3JpajdaUEd1WGZsQXpvYmc2NDFQd2NfNjI4dDR1NnlYLW5rQzFJTVFlanhkX2VUNFo?oc=5) · The Berkshire Edge
- 2026-04-17 [Franklin First FCU, Greylock FCU to merge in June - WWLP](https://news.google.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?oc=5) · WWLP
- 2025-12-11 [Greylock Federal Credit Union plans merger with Franklin First, expanding into Franklin County - The Berkshire Eagle](https://news.google.com/rss/articles/CBMizgFBVV95cUxPR2p2TkFkUm1PUFYxN0ljcjMxbkpKVlNONHB5WmhPc2pKYnU4bW0wVGJLekN0Q1lDRml0MUhkT0kxdkV2d1JWZkxTT2tVbnNSUmR0ekRkdnYycE1OVmpXOEh3Zm5OQjRZZ3ZwQjFsQnVvbU01REQzSlNvNWVTd003VWhsZWN0WDFnQU5MLTlkcHlaZHNUcmhhM25UV1I0WVh2Rks1cW5INUU3NzVIWVo3cHdOdzliV2N4U3NFbjZ2NWpJMXNmb0t5NnFMaWE1dw?oc=5) · The Berkshire Eagle
- 2026-04-16 [Two WMass federal credit unions to merge - MassLive](https://news.google.com/rss/articles/CBMilAFBVV95cUxQS3phVS1ZUVhLeUtKVEt1VkhmZWhvM3lteVhJRjVGN1RvWl9uRkE1c1ZEUXUzbXlEMGlMWUY1cTJIbmFmNDVPSnBCZEJRUkxsUUFRZXpKS2ZvVzltaGwtZ2EyV0xnRmpNMkdSX3JJNXNZWHMxLXhId0NiRkRHQkVKNjZFblZIb0pudGZyWnVuM2dHTEhU?oc=5) · MassLive
- 2025-12-10 [Franklin First and Greylock Federal Credit Unions to merge pending NCUA approval - WWLP](https://news.google.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?oc=5) · WWLP
- 2025-12-11 [Greylock Federal Credit Union and Franklin First Federal Credit Union agree to merger - The Berkshire Edge](https://news.google.com/rss/articles/CBMitgFBVV95cUxQZWhXeGpzdHd0WkRnWWc1T1ktODc3VUlRWl9IdFc2VVdNak1uQmU2eHdyRDJkNXl0dUhWYzlBLWd0YnpPR2tLNnB0ZHhJcVdiSXNfQldoQ0FmYURfQzF5WmFBTGV1TU85U0lLMXZ1YVhKTDc4WUtXSjVVOXhkR0pzWi05aDE2Zk1YVldBOEVQNDlmRm1KUGEtUzNFd2c2N25xb201X2MzN054X01vYXJ1UWFKRXBwUQ?oc=5) · The Berkshire Edge
- 2026-04-17 [Credit Union Mergers Move Forward in Missouri and Massachusetts - CUTimes](https://news.google.com/rss/articles/CBMioAFBVV95cUxPX210TXNIMnJqNFhvVTNNRENPcFhTdDZVVVV4QUlheldpVXBYQUttTW4yVFl2dVRmUno4TnhjSGZ5R2o2aE1VQjY5X05KXzJuSjdEamhmVmtva2lnS0VtOXEyOEhkV29TRExsTklJaHc1YUFBdlE4OTdYNjIzUWNDWlpSOUp6U3pYV0xBOTBiaGF6SGlxMTl0Q1dIYWVRU3F3?oc=5) · CUTimes

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=12604 (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/60.json (key "12604", 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=12604
- 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