# LATVIAN HERITAGE
GRAND RAPIDS, MI · NCUA charter 15779 · asset band <$50M · latest filing 2024-09 · stopped filing after 2024-09 (departed; for a credit union that is almost always a merger)
Share link (named URL with a preview card): https://getbookiq.com/cu/latvian-heritage-15779

Who the members are: federal charter, multiple common bond, organized 1963. 322 members of 1,000 potential (32.2% of the field); checking penetration 0% (share draft accounts per 100 members); loans per 100 members 14.

**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 | $2.9M |
| Members | 322 (-6.7% YoY) |
| Full-time staff | 0 |
| Net worth | $552,773 |
| Net worth ratio | 19.2% (p74 of band) |
| ROA (annualized) | 0.93% (p62 of band) |
| Total delinquency | 0.53% (p45 of band) |
| Net charge-offs (annualized) | 0.04% (p36 of band) |
| Loans / shares | 117% (p99 of band) |
| Cash / assets | 3.0% |
| Borrowings / assets | 0.00% |
| Net interest margin | 4.35% (p68 of band) |
| Operating expense / assets | 3.94% (p63 of band) |
| Vehicles % of loans | 1% (p6 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 0% |
| Third-party paper % of net worth | 0% (p43 of band) |
| Vehicle delinquency | 0.00% (p15 of band) |
| Vehicle NCO | 0.00% (p25 of band) |
| Repossessed % of vehicle book | 0.00% (p46 of band) |
| Real estate % of loans | 96% |
| Credit cards % of loans | 0% |
| Unsecured % of loans | 3% |
| Commercial % of net worth | 0% |
| Core shares % of member funds | 100% |
| Certificates % of member funds | 0% |
| Average share balance | $6,980 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | – |
| Loans outstanding per 100 members | 14% |
| Loans granted per 100 members, annualized | 1% |
| Average loan balance | $58,905 |
| Loans granted, annualized | $40,000 |

## Flags firing in the latest filing

- **delinquency rising** (`aq_dq_rising`)
- **assets shrinking** (`shrink_assets`)
- **members leaving** (`shrink_members`)
- **loan book shrinking** (`shrink_loans`)
- **loans>95% of shares** (`str_ltos`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 4 | thin capital, capital below 7%, delinquency 2x band |  |
| 2016-06 | 4 |  |  |
| 2016-09 | 2 |  | capital below 7% |
| 2016-12 | 2 |  |  |
| 2017-03 | 4 | assets shrinking, members leaving |  |
| 2017-06 | 4 | margin squeeze | assets shrinking |
| 2017-09 | 5 | delinquency rising, assets shrinking | margin squeeze |
| 2017-12 | 3 |  | thin capital, delinquency rising |
| 2018-03 | 4 | delinquency rising |  |
| 2018-06 | 3 |  | delinquency rising |
| 2018-09 | 3 |  |  |
| 2018-12 | 3 | delinquency rising | members leaving |
| 2019-03 | 2 |  | delinquency rising |
| 2019-06 | 5 | net worth falling, delinquency rising, members leaving |  |
| 2019-09 | 4 |  | net worth falling |
| 2019-12 | 3 | losing money | assets shrinking, delinquency rising |
| 2020-03 | 4 | assets shrinking |  |
| 2020-06 | 4 | loan book shrinking | losing money |
| 2020-09 | 3 |  | loan book shrinking |
| 2020-12 | 5 | net worth falling, losing money, loan book shrinking | assets shrinking |
| 2021-03 | 2 |  | net worth falling, losing money, loan book shrinking |
| 2021-06 | 2 |  |  |
| 2021-09 | 2 |  |  |
| 2021-12 | 3 | assets shrinking |  |
| 2022-03 | 4 | net worth falling, losing money | assets shrinking |
| 2022-06 | 4 | assets shrinking | net worth falling |
| 2022-09 | 4 | loans>95% of shares | losing money |
| 2022-12 | 4 |  |  |
| 2023-03 | 3 |  | delinquency 2x band |
| 2023-06 | 2 |  | assets shrinking |
| 2023-09 | 3 | assets shrinking |  |
| 2023-12 | 2 |  | members leaving |
| 2024-03 | 4 | delinquency rising, members leaving |  |
| 2024-06 | 4 |  |  |
| 2024-09 | 5 | loan book shrinking |  |

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

- 2024-09-22 [VALDIS KAULINS Obituary (1945 - 2024) - Toronto, ON - Toronto Star - legacy.com](https://news.google.com/rss/articles/CBMijgFBVV95cUxQSTR2akZuRUFOWDVNdzl3M3Utd2FfVmo5dmZiMV9uUEJkMklHcEhRb3dPX2FDU1N3TTdfRVktcHdZZm9kU0I3MkZvS3FNTWE2V3k4N3VUdUN2bzN2ekh4NjlDZzJ3RnJhM19vRnRreXZrN2xpdXRfV3FGVVczZENyMXN1Rnk5SmlWNmZVMVhR?oc=5) · legacy.com

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=15779 (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/35.json (key "15779", 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=15779
- 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