# MIDWEST CARPENTERS & MILLWRIGHTS
HOBART, IN · NCUA charter 13959 · asset band $50-100M · 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/midwest-carpenters-and-millwrights-13959

Who the members are: federal charter, associational, organized 1960, low-income designated. 17,238 members of 34,975 potential (49.3% of the field); checking penetration 21% (share draft accounts per 100 members); loans per 100 members 21.

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

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $94.4M |
| Members | 17,238 (-3.6% YoY) |
| Full-time staff | 27 |
| Net worth | $6.6M |
| Net worth ratio | 7.0% (p1 of band) |
| ROA (annualized) | 0.22% (p18 of band) |
| Total delinquency | 1.72% (p91 of band) |
| Net charge-offs (annualized) | 0.37% (p69 of band) |
| Loans / shares | 51% (p26 of band) |
| Cash / assets | 28.0% |
| Borrowings / assets | 0.00% |
| Net interest margin | 3.18% (p52 of band) |
| Operating expense / assets | 4.08% (p78 of band) |
| Vehicles % of loans | 44% (p47 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 0% |
| Third-party paper % of net worth | 0% (p24 of band) |
| Vehicle delinquency | 2.65% (p95 of band) |
| Vehicle NCO | 0.72% (p83 of band) |
| Repossessed % of vehicle book | 0.00% (p40 of band) |
| Real estate % of loans | 36% |
| Credit cards % of loans | 7% |
| Unsecured % of loans | 9% |
| Commercial % of net worth | 0% |
| Core shares % of member funds | 70% |
| Certificates % of member funds | 14% |
| Average share balance | $2,711 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | – |
| Loans outstanding per 100 members | 21% |
| Loans granted per 100 members, annualized | 3% |
| Average loan balance | $12,211 |
| Loans granted, annualized | $15.3M |

## Flags firing in the latest filing

- **thin capital** (`cap_low`)
- **capital below 7%** (`cap_critical`)
- **delinquency 2x band** (`aq_dq_high`)
- **delinquency rising** (`aq_dq_rising`)
- **assets shrinking** (`shrink_assets`)
- **members leaving** (`shrink_members`)

## Warning timeline

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

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

- 2023-04-01 [On the record for April 1 - Seymour Tribune](https://news.google.com/rss/articles/CBMibEFVX3lxTFBtaFFVamYweGF6S3Vtb1hxcldOb094ZDVjd2hZX3cyQnNzVDgtcFpPUF9SR1BuU1lRWEpsTXBURWluQ3ExeHVhN1A0djJIdmZieGtFZEpFMEpnTUd1OXdMcVVpNmFvUDAxSTZxdQ?oc=5) · Seymour Tribune

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=13959 (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/7.json (key "13959", 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=13959
- 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