# SECURED ADVANTAGE
Simpsonville, SC · NCUA charter 12877 · asset band $50-100M · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/secured-advantage-12877

Who the members are: federal charter, multiple common bond, organized 1959, low-income designated. 4,492 members of 261,924 potential (1.7% of the field); checking penetration 60% (share draft accounts per 100 members); loans per 100 members 58.

**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 | $57.8M |
| Members | 4,492 (-30.9% YoY) |
| Full-time staff | 12 |
| Net worth | $7.2M |
| Net worth ratio | 12.4% (p46 of band) |
| ROA (annualized) | -0.11% (p12 of band) |
| Total delinquency | 1.06% (p74 of band) |
| Net charge-offs (annualized) | 0.52% (p72 of band) |
| Loans / shares | 48% (p26 of band) |
| Cash / assets | 50.1% |
| Borrowings / assets | 0.00% |
| Net interest margin | 3.98% (p68 of band) |
| Operating expense / assets | 5.06% (p88 of band) |
| Vehicles % of loans | 47% (p58 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 0% |
| Third-party paper % of net worth | 2% (p57 of band) |
| Vehicle delinquency | 1.37% (p79 of band) |
| Vehicle NCO | 0.75% (p75 of band) |
| Repossessed % of vehicle book | 0.14% (p87 of band) |
| Real estate % of loans | 26% |
| Credit cards % of loans | 6% |
| Unsecured % of loans | 23% |
| Commercial % of net worth | 0% |
| Core shares % of member funds | 54% |
| Certificates % of member funds | 8% |
| Average share balance | $5,878 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | $1.8M |
| Loans outstanding per 100 members | 58% |
| Loans granted per 100 members, annualized | 5% |
| Average loan balance | $9,256 |
| Loans granted, annualized | $2.4M |

## Participation posture (from the same filings)

Bought $0 and sold $0 in the latest annualized quarter; $1.8M outstanding purchased (25.5% of net worth), $0 sold and retained. Sold in 0 and bought in 3 of the last 8 quarters. Shares -4.8% year over year.

## Flags firing in the latest filing

- **net worth falling** (`cap_falling`)
- **losing money** (`earn_negative`)
- **assets shrinking** (`shrink_assets`)
- **members leaving** (`shrink_members`)
- **loan book shrinking** (`shrink_loans`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 0 |  |  |
| 2016-06 | 0 |  |  |
| 2016-09 | 1 | losing money |  |
| 2016-12 | 1 |  |  |
| 2017-03 | 1 |  |  |
| 2017-06 | 1 |  |  |
| 2017-09 | 1 |  |  |
| 2017-12 | 1 |  |  |
| 2018-03 | 1 | repo signal | losing money |
| 2018-06 | 3 | losing money, delinquency rising |  |
| 2018-09 | 0 |  | repo signal, losing money, delinquency rising |
| 2018-12 | 1 | assets shrinking |  |
| 2019-03 | 1 |  |  |
| 2019-06 | 2 | losing money |  |
| 2019-09 | 4 | delinquency 2x band, delinquency rising |  |
| 2019-12 | 3 | repo signal | delinquency 2x band, delinquency rising |
| 2020-03 | 6 | delinquency 2x band, delinquency rising, charge-offs p90 |  |
| 2020-06 | 5 | net worth falling | assets shrinking, delinquency 2x band |
| 2020-09 | 4 |  | delinquency rising |
| 2020-12 | 6 | margin squeeze, delinquency 2x band, members leaving | charge-offs p90 |
| 2021-03 | 6 |  |  |
| 2021-06 | 3 |  | repo signal, delinquency 2x band, members leaving |
| 2021-09 | 4 | repo signal |  |
| 2021-12 | 2 |  | margin squeeze, repo signal |
| 2022-03 | 2 |  |  |
| 2022-06 | 3 | charge-offs p90, members leaving | net worth falling |
| 2022-09 | 3 | delinquency 2x band, delinquency rising | charge-offs p90, members leaving |
| 2022-12 | 3 | charge-offs p90, assets shrinking | delinquency 2x band, delinquency rising |
| 2023-03 | 3 | delinquency 2x band, delinquency rising | losing money, charge-offs p90 |
| 2023-06 | 3 | charge-offs p90 | delinquency 2x band |
| 2023-09 | 2 |  | delinquency rising |
| 2023-12 | 4 | expense trap, repo signal |  |
| 2024-03 | 2 |  | expense trap, repo signal |
| 2024-06 | 3 | delinquency 2x band, members leaving | charge-offs p90 |
| 2024-09 | 5 | losing money, expense trap, delinquency rising | delinquency 2x band |
| 2024-12 | 6 | delinquency 2x band, charge-offs p90 | delinquency rising |
| 2025-03 | 6 | delinquency rising | expense trap |
| 2025-06 | 8 | repo signal, loan book shrinking |  |
| 2025-09 | 7 |  | repo signal |
| 2025-12 | 5 |  | delinquency 2x band, delinquency rising |
| 2026-03 | 5 | net worth falling | charge-offs p90 |

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

- 2025-03-10 [New CEO named for Secured Advantage - CUInsight](https://news.google.com/rss/articles/CBMiggFBVV95cUxOdzczSExXSjhwV0o3ZVJiZ0Y5Q1E3RHA4TGFBR28yX1RJQUdfcXFMSEJXcm1Pd2hodTRxUTF0OXV6MHRnUXVsMzhReGs1YmZfc0pVaHNucW9oeXQ0dWF0b3dRbnVhMFh4SUxGNDhVbkZtMTQ0LTlOOWM5X1RIaDhBVDd3?oc=5) · CUInsight
- 2026-04-29 [Simpsonville advances $29.4M budget with public works fee, tax increase: City Council notes - Greenville Journal](https://news.google.com/rss/articles/CBMitgFBVV95cUxNTXhBSDZPZEd4d2NJUHB0YzdtdDZIZ2NFd2d5Q3J2MGJOaXFkcVJ6dERGQkFiempIWlRVQmZZYWstdzZnc0RqR25pM1VCYmN5SjFJX0x6SmZJT01Ka0NGWENLQmwwNEEyLVNEajd2VGZKNFQ4YkVaOF8wYlhZNXQtRVhfeWhxalpENEpteVYtMGhvQThKV0tiYUlKbk83TXQxWnlwMDk3bk1aN2RoVVFmOHYyTFRwUQ?oc=5) · Greenville Journal
- 2026-05-13 [Simpsonville advances $29.4M budget with public works fee, tax increase: City Council notes - Greenville Journal](https://news.google.com/rss/articles/CBMi1wFBVV95cUxQR1p5NkhqVXUyV2M0cnRoOEk0V0VwYzZ6MzRIMFc4ZVJ4YXIzOXNsaDVjd09PYWlnM09yWXctR2IxTEpfSnJsWkp1SnFNeVZwOGVXRGIwN2MtWm9vbHg1Qy12TEZVeXdvellVdFFmS01SUlo0VlFHd0ROeml0ZVVCeFR5b1VPMDNYMjNURlVxZGhQWXo4bFI5N1R6cUFJX0E0QzFKMnJUdzVGc2hhdExEdzhPWnpLOHdpYmQxMldvU2g4VERqV1R6c3Y3ZFVabUdSSmJvVWg0bw?oc=5) · Greenville Journal

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=12877 (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/13.json (key "12877", 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=12877
- 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