# LAUNCH
MERRITT ISLAND, FL · NCUA charter 15605 · asset band $500M-1B · latest filing 2020-06 · stopped filing after 2020-06 (departed; for a credit union that is almost always a merger)
Share link (named URL with a preview card): https://getbookiq.com/cu/launch-15605

Who the members are: federal charter, community charter, organized 1963, low-income designated. 69,256 members of 1,000,000 potential (6.9% of the field); checking penetration 74% (share draft accounts per 100 members); loans per 100 members 57.

**Verdict on the desk:** this could be *ordinary*. Composite score 1 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $869.5M |
| Members | 69,256 (1.9% YoY) |
| Full-time staff | 260 |
| Net worth | $101.3M |
| Net worth ratio | 11.7% (p78 of band) |
| ROA (annualized) | 0.05% (p14 of band) |
| Total delinquency | 0.08% (p4 of band) |
| Net charge-offs (annualized) | 0.61% (p78 of band) |
| Loans / shares | 73% (p40 of band) |
| Cash / assets | 6.5% |
| Borrowings / assets | 0.00% |
| Net interest margin | 3.50% (p95 of band) |
| Operating expense / assets | 4.09% (p87 of band) |
| Vehicles % of loans | 40% (p65 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 26% |
| Third-party paper % of net worth | 57% (p34 of band) |
| Vehicle delinquency | 0.08% (p8 of band) |
| Vehicle NCO | 0.78% (p70 of band) |
| Repossessed % of vehicle book | 0.01% (p38 of band) |
| Real estate % of loans | 45% |
| Credit cards % of loans | 6% |
| Unsecured % of loans | 11% |
| Commercial % of net worth | 0% |
| Core shares % of member funds | 92% |
| Certificates % of member funds | 3% |
| Average share balance | $5,823 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | – |
| Loans outstanding per 100 members | 57% |
| Loans granted per 100 members, annualized | 23% |
| Average loan balance | $14,100 |
| Loans granted, annualized | $283.6M |

## Flags firing in the latest filing

- **net worth falling** (`cap_falling`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 1 | leaning on borrowings |  |
| 2016-06 | 1 |  |  |
| 2016-09 | 1 |  |  |
| 2016-12 | 1 |  |  |
| 2017-03 | 3 | net worth falling, charge-offs p90 |  |
| 2017-06 | 2 | assets shrinking | leaning on borrowings, net worth falling |
| 2017-09 | 2 |  |  |
| 2017-12 | 2 |  |  |
| 2018-03 | 2 | net worth falling | charge-offs p90 |
| 2018-06 | 0 |  | assets shrinking, net worth falling |
| 2018-09 | 0 |  |  |
| 2018-12 | 0 |  |  |
| 2019-03 | 0 |  |  |
| 2019-06 | 0 |  |  |
| 2019-09 | 0 |  |  |
| 2019-12 | 0 |  |  |
| 2020-03 | 1 | losing money |  |
| 2020-06 | 1 | net worth falling | losing money |

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

- 2026-08-26 [Tampa credit union led deal wins final approval, creating $22B institution - Business Observer](https://news.google.com/rss/articles/CBMijAFBVV95cUxOQVE0OFJwd1cwT05uUHFFMFFtNDBrTHRGRUlSa1Axc0dBTXM4QTF3ZzlUYmJhY3RrNEgwMFpXMVVTZVVoa1ZBREkyeTRPWVBhaE9CLVpjUDc5OGYyMzBQNEdtSlVqTEhwdy0ybGtZTjZnT0lvNElUYlhhYXFadmlTWVdiM1NDTXl6Z1hwbA?oc=5) · Business Observer
- 2026-08-27 [Launch Credit Union Members Approve Merger with Suncoast Credit Union - TalkOfTitusville.com](https://news.google.com/rss/articles/CBMirwFBVV95cUxNQzNDQVNNQlFxYzZhVmZWanZfTEpjeDNFZDJlVVd4NllHcGg3UTBJQWlBeHc2b2laSnlJZWprZTU0cXJrbVVYZ0RrdVAtLXhVOWpqTW1GOEVOWHEzbmt1QjBCS1B3U1Z2X0hSR05vUmI1aVdMOWJ0ZWxjemZCX09QQVVROXdiWkdHQkU0YXNpdldKaGFpaXV5WjFZdzduMTVzWXljdkJEUURQUjlhX0tN?oc=5) · TalkOfTitusville.com
- 2026-02-16 [Suncoast, Launch Credit Unions plan merger by late 2026 - Gulfshore Business](https://news.google.com/rss/articles/CBMi4AFBVV95cUxOZjJRblJKWVVBTjZCNmlRWnpLdkxIU29pLVVMWDE3ODY4MmlHT05zWUFaREQ1Z0JxZDVjbXRyblZEbFd5UXZpRVpnTlZxdzhWTXVyTDJ3RVlhWlhsMXRJdTNhU0tkZ2hfcDNqdWI1OGlQdlZiM1FnRURhV3NJRFRXY1E2SGtSR2djeFY1bjN0SHF2ekFJQW9kY3dDVW1QZ2pEbzN2SHFsV1VwOWVhVHdYNmRBaWFGaHlseE9LcVBVX2ZEVkNhcDE0WFk2OHNySnBEcVRXdUVBZ1hCVjAwRjRvTw?oc=5) · Gulfshore Business
- 2026-02-13 [Suncoast Credit Union announces merger, would grow to over $21B - Business Observer](https://news.google.com/rss/articles/CBMikgFBVV95cUxNbjNsY1ZKcXl1amxGT1Nac2ZqNWxva0V2MUxzWExmVEUwLWswOERjSENZaUU5R3pQYnBWYWpfNzdlYXYtSzRnQXJfMFlXcFhQZ2JrYmdza0Z3OHBNOWNmZGtsaUxETExoeWdRWGNFUWV0RnhxS3lKYzE5bERSTDZ6ZklQcXpHTTFsVHEtYmsyZG9hQQ?oc=5) · Business Observer
- 2026-05-01 [News4JAX, Navy Federal, USO Launch ‘Help on the Home Front’ drive for Jacksonville service members - News4JAX](https://news.google.com/rss/articles/CBMi3gFBVV95cUxQYlNlVldpaTh2RFRVS04yem1hbnNLUG1FNDAxRXFnWUFTV201TzVlSWFXNDMxbXI3OFdRSHp4dkx1NE9OWGdQYWVua0UzNnRPbFlvajY5ZVQ5S2c3a3pvSXZfSGhlbGZmaTE1dkJnLXZ3cUhsYm8yOGlydldfUUZBdVk4bGdoRV84NkozVUJydmlDT1VJUTltX2pPNFI4WFlibEwyazh2elR5bjBtbmcwV21FSzBKdS1qMm56aVlteGpRUUZSeUZtaEdLTTJmQmZfNHB5QVMtb1hVdWVrU2c?oc=5) · News4JAX
- 2024-08-19 [Brevard's Community Credit Union, Launch Credit Union announce plans to merge - Florida Today](https://news.google.com/rss/articles/CBMizwFBVV95cUxOWFdIb3RualJRck5jd1dBZTAySWpCWDVYOW5XMnB1M3hpbkZZcnpiQTI2eE5vOWk0UzFEc21FaEo2YjJrbXdDSXJPeXNOQ1I0cG11QU5vd2MxQjdtT0stZXFpTFg5SDhKVFpjWjF5dGtsMkhkaWxIRmZGVml1dmNXNEw4NFhjc2EtWElrR0xKX2ExQjdMakc3ZUJwR0dBYi1MbnZoWXJnUkxhdk9BNHhieXFpRXVwdEU4S2dJTFFnbkgtM29IUkZDV3VxaExtNDA?oc=5) · Florida Today
- 2026-04-07 [BrightStar Credit Union, HOT 105 Launch ‘Teach. Thank. Win.’ to Reward Local Teachers With Monthly $500 Prize - Margate Talk](https://news.google.com/rss/articles/CBMif0FVX3lxTE5NWUR6WDhDX1NWZml4cFBOd0tNc2VTaXRyRXJOUm91QnAwOVZYcEF2RUxpbXUzOFZjMDA4a0hmSW1fcTdESVVrNi1DY1ZncW1QRkNrY2ZsRzVIWXJ4VlplMWxKUmV4TVJORi05VXFxdDJqLVUxd2l2WVZ1bWNvR0E?oc=5) · Margate Talk
- 2024-04-09 [Volusia County Schools and Addition Financial Credit Union Partner to Launch Co-Branded Debit Card - Volusia County Schools](https://news.google.com/rss/articles/CBMi5wFBVV95cUxQTlpRMTdQczRyakUyQ2xHUjdxNWVWSUIyUXJiNGJzcFEyY3Znc20yM1N2LVpmckVTbDh1OEpDUnhKWUczZzBKeEZTakJPTjVwYUVZeU10QXYtVkNOc2xYLV9jTGVoMGtsd2FtN29zbnBWMzhlaWo3Znp2MGh4WFpLNTVSRGtXNDFGZnBmVkV0RXJlSHZ6bkRrSWVPS1ZzT05IVnZueFFRRVhfV1BxOXltNmpoUXZqdHpWU2dTTV9Ca19ZU1VDNXB5RUNQTkpWYjRCaU1seV9LMUtHaEExZDVib3E3RHRxMk0?oc=5) · Volusia County Schools

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=15605 (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/53.json (key "15605", 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=15605
- 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