# PEN AIR
Pensacola, FL · NCUA charter 1303 · asset band $1-10B · latest filing 2022-06 · stopped filing after 2022-06 (departed; for a credit union that is almost always a merger)
Share link (named URL with a preview card): https://getbookiq.com/cu/pen-air-1303

Who the members are: federal charter, multiple common bond, organized 1936, low-income designated. 120,667 members of 725,863 potential (16.6% of the field); checking penetration 63% (share draft accounts per 100 members); loans per 100 members 52.

**Verdict on the desk:** this could be *auto monoline*. Composite score 3 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $2.29B |
| Members | 120,667 (2.5% YoY) |
| Full-time staff | 323 |
| Net worth | $258.9M |
| Net worth ratio | 11.3% (p76 of band) |
| ROA (annualized) | 0.95% (p65 of band) |
| Total delinquency | 0.38% (p65 of band) |
| Net charge-offs (annualized) | 0.58% (p98 of band) |
| Loans / shares | 59% (p16 of band) |
| Cash / assets | 7.5% |
| Borrowings / assets | 0.88% |
| Net interest margin | 2.65% (p60 of band) |
| Operating expense / assets | 2.53% (p34 of band) |
| Vehicles % of loans | 61% (p95 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 83% |
| Third-party paper % of net worth | 239% (p71 of band) |
| Vehicle delinquency | 0.44% (p71 of band) |
| Vehicle NCO | 0.79% (p94 of band) |
| Repossessed % of vehicle book | 0.19% (p97 of band) |
| Real estate % of loans | 22% |
| Credit cards % of loans | 4% |
| Unsecured % of loans | 8% |
| Commercial % of net worth | 34% |
| Core shares % of member funds | 67% |
| Certificates % of member funds | 20% |
| Average share balance | $7,645 |
| Participations bought / yr | $16.9M |
| Participations sold / yr | $6.2M |
| Participations outstanding | – |
| Loans outstanding per 100 members | 52% |
| Loans granted per 100 members, annualized | 31% |
| Average loan balance | $19,626 |
| Loans granted, annualized | $831.6M |

## Flags firing in the latest filing

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

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 1 | charge-offs p90 |  |
| 2016-06 | 1 |  |  |
| 2016-09 | 1 | 3rd-party paper>100% NW | charge-offs p90 |
| 2016-12 | 1 |  |  |
| 2017-03 | 1 |  |  |
| 2017-06 | 2 | charge-offs p90 |  |
| 2017-09 | 2 |  |  |
| 2017-12 | 2 |  |  |
| 2018-03 | 1 |  | charge-offs p90 |
| 2018-06 | 2 | charge-offs p90 |  |
| 2018-09 | 2 |  |  |
| 2018-12 | 1 |  | charge-offs p90 |
| 2019-03 | 2 | charge-offs p90 |  |
| 2019-06 | 2 |  |  |
| 2019-09 | 1 |  | charge-offs p90 |
| 2019-12 | 1 |  |  |
| 2020-03 | 1 |  |  |
| 2020-06 | 4 | net worth falling, margin squeeze, charge-offs p90 |  |
| 2020-09 | 4 |  |  |
| 2020-12 | 6 | delinquency 2x band, delinquency rising |  |
| 2021-03 | 5 | auto monoline | delinquency 2x band, delinquency rising |
| 2021-06 | 5 |  |  |
| 2021-09 | 3 |  | net worth falling, margin squeeze |
| 2021-12 | 3 |  |  |
| 2022-03 | 3 |  |  |
| 2022-06 | 3 |  |  |

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

- 2022-03-14 [NOW Program with Pen Air Federal Credit Union - fox10tv.com](https://news.google.com/rss/articles/CBMiiAFBVV95cUxPRzV0dV9GT0w5UlFZZVRqYi01a2ZiNS0yQU56dm1GbDkyYVZ1aVlFQWRVSC1NN0tYNHdSNS15N1hJZGc1X05zTXk0UDZiQ0J1R1BaVzg0WVZFU2ZPS3NoX19CLW1XajFKN0tDcVo4RkVfaFRZX1NMbmRZU0RNeTc0bXE2UzhSVFVI0gGcAUFVX3lxTE1oVlJoZm8xUGVjd1ljdTFLTVh2NWZ2Z2JLU0htU0dlZUlIOTNZbGI1RW9IdzQ1WDhIT0ZQVTFMQUF5ajFwWFJGTUJ6Yy1rdDQ5WUFnenJVbXB0WEZ4MURGTFZPNkRpdzZtaEN5Q0Jua3JMYTB3Y3NjTm9VUDFxQ0E5eEVyZk9PRUZOcHFtcngwUlBsc1Jzd3M2SzNMZA?oc=5) · fox10tv.com
- 2022-09-22 [All In Credit Union Coming To Century In Former Pen Air FCU Location - NorthEscambia.com](https://news.google.com/rss/articles/CBMiqAFBVV95cUxQSkUybkwxcWdpN01FcDBPX0laZExpaWkzcWJicUlHNGhlT2VfQUg4WE1lRU52UVZvc052cmxMUmR1bEFxMExXeWZTaW00RFByV0gwZ1dIdmdkUlAwczl0WkFBU0owS1dnOVRjRnIyVVllNlhzNnVVN2o0c3VHaGgyUHNhSVJ4T3JoYm83OHBNZXBJRFgxaFB4Ukk2T0FOOWNXU1BMRnJSRTY?oc=5) · NorthEscambia.com
- 2025-10-16 [Florida Man Faces Sentencing in $650K Credit Union Loan Fraud Scheme - CUTimes](https://news.google.com/rss/articles/CBMipgFBVV95cUxQNEw0TUpXQWRheVhLbXpyRW1vZ0NURkJGc1gwLW05MjR2V1R1TWdvbjRmSzhkQndRTDZKSFc4b1hvM2t1QXZCeHRHYzhqT2tHTXhNdE1XZjhzSUlQY1VOZWsyb2tQVThNdFh3NkhnNEpNUTFISThaS2kwYlpCOEZneWVpUGRsYmtqa3o4WDMwcGNOLWZLekxJcTFKM1JuXzgxd1ViNUN3?oc=5) · CUTimes
- 2016-09-07 [Pen Air Million Dollar Donation to UWF football - Pensacola News Journal](https://news.google.com/rss/articles/CBMirgFBVV95cUxOUkt2bDQzU0tLS1RkTU9zbTNqdkRLREN4WUdPMWlZcmxLSHFvcFBoTl9FWU5ab0YxemVNX2MzcW1rcXB1ZldhTWdyeXNKMU0yeDUyZWt1MmJ3QU9pdzdVMzE5M1UzRTlqUEYzcHBmVGw0UjNfN0lXejY2amhGQVhaVUo3ZnBOYTJ2WHY2N29mU2hQWGpROGViSGNCYUpMOXJaeURMQVd1R1haempJZXc?oc=5) · Pensacola News Journal
- 2022-10-02 [Pen Air Credit Union Converts To A State Charter. Here’s What That Means. - NorthEscambia.com](https://news.google.com/rss/articles/CBMiqwFBVV95cUxQYTlONzBTV2VnNHAtUVB2aUtORmdWVEl6Mnkya010SnhoM2p5ek1sNk1ZanZmY25OQjhvRkplazlSZk5aeE1MUklrekFDcVFCT2M5SUVReFlNMHROV25sZFAtWnRHb0U5ekRFeld3cjliem5iRVhkY3ZLaVN6XzJDOGpfbWFsWkFPREpYa3NDWDF3UEl5b2x1VUFMRFBoaHBzVE1XWnJkWWhmVEE?oc=5) · NorthEscambia.com
- 2016-09-07 [Pen Air gifts $1M to UWF football - Pensacola News Journal](https://news.google.com/rss/articles/CBMivwFBVV95cUxQR1RPTnNoV0ZudUNsSUx4ZHQ5R1dReHltN09BS2Q5LWwtSVdQUmRxSlRYa2c0Wkp1bEo0Vndsc2xQVjRidW9SR3FrTTljN0dXUTRiNGNreU9MVzNXeW5WaUJ2dV9LNFFGcVBqV2tEZjRyNWV4dHZObF9zTnF3MTB2NWRpTDJ5S0hXd2pkcWFJeWRfcktlZTQzeFNEUTh1WDllODUwbFpRcUV2WVVqbk4zaDhkV3RhYjBnSlBwNjZ1Zw?oc=5) · Pensacola News Journal
- 2018-04-20 [Gloria Wilkerson Obituary - Pensacola, FL - Dignity Memorial](https://news.google.com/rss/articles/CBMihwFBVV95cUxNZzVfYm1fdFVkWUtjYzBySGVfNkw4b2gzdk1zc05FQmdJMDdTZUtjUV92UldUWnEzWG50Y1VxLUFOZVdtaWU0VE11V1J4ZVI1OEN5Wmx0YnpBdVdXaXMwUXZ4c2ZLTjd1aFRHemszSVRLN1ZVYTZtb3dDQ0dHZmMwbWlKSG9SUGc?oc=5) · Dignity Memorial
- 2023-06-15 [Navy Marine-Corps. Relief Society scores $50,000 from golf fundraiser and Pen Air - Pensacola News Journal](https://news.google.com/rss/articles/CBMi4AFBVV95cUxNUzIyaGVqaDhRcXNBMDlkVkNlcXBOQmY0VEl2REF6MWVmNUlTd253Qnl0YnNuLVVpdS1TMFdIN0FqUklLWmxJNUU3N0g1b0xnRC1wazhJZV9adzhXUVluTnhXNTJTdDNpcnFwRXZ6VFNLX053alJocTE2NThzcmhmQmdtVjREaE1CMWYyVXNUNTllS3dmMm80LXViNV80NXBQSkpTMU9XSlQtc0xEbHpsbVp5djVpUGVpZU10aFZPYTdJTXhGM2Q1Smx0bHhRdFNGclI2VFZ0NHpwZXBkeW9CcA?oc=5) · Pensacola News Journal

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=1303 (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/23.json (key "1303", 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=1303
- 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