# WATERFRONT
Seattle, WA · NCUA charter 16178 · asset band $50-100M · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/waterfront-16178

Who the members are: federal charter, multiple common bond, organized 1964. 6,583 members of 33,700 potential (19.5% of the field); checking penetration 56% (share draft accounts per 100 members); loans per 100 members 45.

**Verdict on the desk:** this could be *indirect buyer*. Composite score 2 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $93.6M |
| Members | 6,583 (-1.6% YoY) |
| Full-time staff | 13 |
| Net worth | $12.6M |
| Net worth ratio | 13.4% (p57 of band) |
| ROA (annualized) | 0.68% (p49 of band) |
| Total delinquency | 0.86% (p66 of band) |
| Net charge-offs (annualized) | 0.44% (p67 of band) |
| Loans / shares | 63% (p53 of band) |
| Cash / assets | 12.4% |
| Borrowings / assets | 0.00% |
| Net interest margin | 3.89% (p62 of band) |
| Operating expense / assets | 3.97% (p65 of band) |
| Vehicles % of loans | 38% (p42 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 58% |
| Third-party paper % of net worth | 139% (p90 of band) |
| Vehicle delinquency | 0.72% (p59 of band) |
| Vehicle NCO | 0.68% (p74 of band) |
| Repossessed % of vehicle book | 0.09% (p83 of band) |
| Real estate % of loans | 31% |
| Credit cards % of loans | 8% |
| Unsecured % of loans | 19% |
| Commercial % of net worth | 0% |
| Core shares % of member funds | 90% |
| Certificates % of member funds | 9% |
| Average share balance | $7,093 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | – |
| Loans outstanding per 100 members | 45% |
| Loans granted per 100 members, annualized | 10% |
| Average loan balance | $17,170 |
| Loans granted, annualized | $19.6M |

## Flags firing in the latest filing

- **delinquency rising** (`aq_dq_rising`)
- **3rd-party paper>100% NW** (`str_thirdparty`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 1 | thin capital |  |
| 2016-06 | 2 | 3rd-party paper>100% NW |  |
| 2016-09 | 2 |  |  |
| 2016-12 | 2 |  |  |
| 2017-03 | 3 | members leaving |  |
| 2017-06 | 2 |  | members leaving |
| 2017-09 | 2 |  |  |
| 2017-12 | 2 |  |  |
| 2018-03 | 3 | net worth falling |  |
| 2018-06 | 2 |  | net worth falling |
| 2018-09 | 2 |  |  |
| 2018-12 | 2 |  |  |
| 2019-03 | 2 |  |  |
| 2019-06 | 3 | delinquency rising |  |
| 2019-09 | 1 |  | thin capital, delinquency rising |
| 2019-12 | 2 | delinquency rising |  |
| 2020-03 | 2 |  |  |
| 2020-06 | 3 | net worth falling |  |
| 2020-09 | 2 |  | net worth falling |
| 2020-12 | 2 | margin squeeze | delinquency rising |
| 2021-03 | 3 | net worth falling |  |
| 2021-06 | 3 | delinquency rising | net worth falling |
| 2021-09 | 3 |  |  |
| 2021-12 | 2 |  | margin squeeze |
| 2022-03 | 2 |  |  |
| 2022-06 | 2 |  |  |
| 2022-09 | 1 |  | delinquency rising |
| 2022-12 | 3 | delinquency rising, assets shrinking |  |
| 2023-03 | 3 |  |  |
| 2023-06 | 2 |  | delinquency rising |
| 2023-09 | 3 | delinquency rising |  |
| 2023-12 | 1 |  | assets shrinking, delinquency rising |
| 2024-03 | 3 | net worth falling, leaning on borrowings |  |
| 2024-06 | 2 | delinquency rising | net worth falling, leaning on borrowings |
| 2024-09 | 1 |  | delinquency rising |
| 2024-12 | 1 |  |  |
| 2025-03 | 2 | assets shrinking |  |
| 2025-06 | 1 |  | assets shrinking |
| 2025-09 | 3 | delinquency 2x band, delinquency rising |  |
| 2025-12 | 3 |  |  |
| 2026-03 | 2 |  | delinquency 2x band |

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

- 2025-12-19 [Kansas City Current Announces Current Landing as Name for Waterfront District - Kansas City Current](https://news.google.com/rss/articles/CBMioAFBVV95cUxQSExHSUJsR0V3TTFxWEdDMVRjSnVLaTR2c3EtbGZEVXJsN245eEFlWlpCUTMwMnQyaHVMb1NJazlxaThWUEdJdjdNdlVKQWg3Wi1pSDVoQzgxbWRoU2locEtldF95ZC1ZNUE5LXV0YndlWUg3bThOcnRpX3R6eXFPcWhEdHhuSWtQb0JkX1RaMTdVc3FpUmNnekFnam5tX0s1?oc=5) · Kansas City Current
- 2026-02-11 [Things To Do in La Conner During the Skagit Valley Tulip Festival - Skagit Valley Tulip Festival](https://news.google.com/rss/articles/CBMisgFBVV95cUxOLXZPbC02dzZEYWhlajJWSy1zSjQtMmc1YnVlMHZMMlgzNThUVURrRWlXZU42ZlgzeWY2TmpfSnlvRFpLNjllYThSVzhqT3J0RUI4MW1RRUxRWVNRVUNWWG5JWmpaaUd3a29ka29RQ0RaRHdpX0xCdlo5UFhxU1JlTFBXVU1rVXdoM1JpMkJhaEVmVjM5MG9FRXhrdERzZm8xMmtOVzh0eWY1YUc0Vk1SRUxB?oc=5) · Skagit Valley Tulip Festival
- 2026-06-24 [Waterfront to come alive for Selkirk Canada Day | Manitoba - winnipegsun.com](https://news.google.com/rss/articles/CBMi1gFBVV95cUxPTWVieE9sQmJKU0dXYVI0a2NrZEFPQlhUOXZBX3BDZUZDZXJOWlhwcDhhOEp3NHlEYXpKVE5ucXFFVWUyaGJ2Wno0NFpkeHdBd0k0WXFCeEtfVlRmMjdfMVVkMFd0akczY0VlNkgzbWZaUERkb0JaUGNhNEUzLXdxdUktUXZHLXpJQjFYVGZJbnA2WFE0TUpVSUZNZGNxVHBUMkhVODJucUVvSnRkTkJ4NEZmUWFScERIZTdMREx1QUpwZzZZSVpmZHc4bHl0eFd0TDQ5VlVn?oc=5) · winnipegsun.com
- 2025-06-16 [The Wharf owner arranges $1.15 billion refinancing - The Business Journals](https://news.google.com/rss/articles/CBMijgFBVV95cUxOOEpSXzBlMk51LXM5MTNQWGJlZDdSNlRVeXNLVmpjUVpCelJ4dDNuV3RqTnVsSlVJNWVhRDZZOHFiN1JuRWphVmQxZzhreWhIaE5ZYUs0S2tZcDFsNDNfTzJxOW5GZjh0Y0thN0tOT0lKWHlTVEljdW1Lb0F3d2pONl9kVlNpTWJrbl9YV1JR?oc=5) · The Business Journals
- 2023-09-19 [Charles Dean Obituary - Seattle, WA - Dignity Memorial](https://news.google.com/rss/articles/CBMigAFBVV95cUxNWlVZdGJ5VmRja3R2M0xNVjR3UVVyN1pYdHdiWU55TEZRVXpKUmluOEZzRFNHcEdvbXV6X0ptMUVDWkF3TEVBSTZhV3BHOEJuSlJ4X1BXblZNNVdPUXEzaGdwNnZjZWNzNmJEeV9GOWdQN3VrRVA0dno3eGJNYkdqbg?oc=5) · Dignity Memorial
- 2022-05-11 [Richland redevelopment gets tricky as Panda Express eyes waterfront - Tri-Cities Area Journal of Business](https://news.google.com/rss/articles/CBMiYEFVX3lxTFBGQll0cUJDMkFSRzRrMFV6TGF2SHFFSmhScU9hWmNQb2Vud09zamlyQjFwNTJvamc2U1o2eXpPOGN0d1lvWVJ6d19pS0o4U2Y5RHJXZGt6NW0tNWVzOEU5ZQ?oc=5) · Tri-Cities Area Journal of Business
- 2018-05-23 [Port finalizes $4.5M Bremerton waterfront sale - Kitsap Sun](https://news.google.com/rss/articles/CBMirAFBVV95cUxOQlc4NE5CeFJ0enVWTWJ2Mi0wLXRBQmgwQmk2eWU2dG1kbWZCRjBWMEhYX3psQjV0aTVQeGZnTUMxNFAwVUpadGk2UDhMQjR2cFA4SWhNTHhfQWxlcnh3TmFLQjA3M0pSOEN4OTJrdmFwNFg0RWwyWHJpeTVLM0NBeHd4NTV6Rm9iQW1nVkE4dENTdFFjX2VqeWlaUVFBQ1E0UXdja3FnSUQtUllN?oc=5) · Kitsap Sun
- 2025-03-18 [What’s being built there? $2M new eye clinic + Columbia Park Marina coming out - Tri-City Herald](https://news.google.com/rss/articles/CBMidEFVX3lxTE4taFowN0xsbmNMdkpidlNuemRhQUpvME40SjZJcnBxMkxwRTJTQ0s2NVg0QXI2bkdZQ05LanVvbW5BQU95NlRBZjVfVXBvOW81WkhyOThFeVFCVUR2N2JnLWFPdUlTa2dnckhFY19oXzBVUW9y0gF0QVVfeXFMUDFtVjRxcWlneExGOTVGeDJlVVlVZVpzQmNsSF9KQU50dXhQY0d3cmdVUUozaWdJUDdJSjJtNHZZX0pkYm1wVFNHRGZ3bFVvUlpsTG9tMUs4YjJjVENRanYwUFdXblF4NThIY3ZnWWw2TDh4Ulc?oc=5) · Tri-City Herald

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=16178 (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/50.json (key "16178", 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=16178
- 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