# CHANGING SEASONS
Hampden, ME · NCUA charter 17472 · asset band <$50M · latest filing 2024-06 · stopped filing after 2024-06 (departed; for a credit union that is almost always a merger)
Share link (named URL with a preview card): https://getbookiq.com/cu/changing-seasons-17472

Who the members are: federal charter, community charter, organized 1966, low-income designated. 1,990 members of 191,806 potential (1.0% of the field); checking penetration 58% (share draft accounts per 100 members); loans per 100 members 227.

**Verdict on the desk:** this could be *stressed*. Composite score 8 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $26.2M |
| Members | 1,990 (-8.2% YoY) |
| Full-time staff | 7 |
| Net worth | $2.0M |
| Net worth ratio | 7.7% (p5 of band) |
| ROA (annualized) | -0.35% (p15 of band) |
| Total delinquency | 1.41% (p70 of band) |
| Net charge-offs (annualized) | 0.79% (p81 of band) |
| Loans / shares | 91% (p86 of band) |
| Cash / assets | 11.4% |
| Borrowings / assets | 0.00% |
| Net interest margin | 4.95% (p84 of band) |
| Operating expense / assets | 6.62% (p94 of band) |
| Vehicles % of loans | 38% (p22 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 61% |
| Third-party paper % of net worth | 284% (p99 of band) |
| Vehicle delinquency | 0.52% (p53 of band) |
| Vehicle NCO | 1.05% (p88 of band) |
| Repossessed % of vehicle book | 0.00% (p46 of band) |
| Real estate % of loans | 48% |
| Credit cards % of loans | 0% |
| Unsecured % of loans | 7% |
| Commercial % of net worth | 0% |
| Core shares % of member funds | 57% |
| Certificates % of member funds | 21% |
| Average share balance | $5,650 |
| Participations bought / yr | $759,576 |
| Participations sold / yr | $0 |
| Participations outstanding | – |
| Loans outstanding per 100 members | 227% |
| Loans granted per 100 members, annualized | 22% |
| Average loan balance | $4,878 |
| Loans granted, annualized | $2.7M |

## Flags firing in the latest filing

- **thin capital** (`cap_low`)
- **losing money** (`earn_negative`)
- **expense trap** (`earn_opex`)
- **delinquency 2x band** (`aq_dq_high`)
- **assets shrinking** (`shrink_assets`)
- **members leaving** (`shrink_members`)
- **loan book shrinking** (`shrink_loans`)
- **3rd-party paper>100% NW** (`str_thirdparty`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 1 | losing money |  |
| 2016-06 | 1 |  |  |
| 2016-09 | 2 | net worth falling |  |
| 2016-12 | 2 | delinquency 2x band | net worth falling |
| 2017-03 | 2 | delinquency rising | losing money |
| 2017-06 | 4 | net worth falling, losing money |  |
| 2017-09 | 3 |  | net worth falling |
| 2017-12 | 0 |  | delinquency 2x band, delinquency rising, losing money |
| 2018-03 | 0 |  |  |
| 2018-06 | 0 |  |  |
| 2018-09 | 0 |  |  |
| 2018-12 | 1 | net worth falling |  |
| 2019-03 | 1 | delinquency rising | net worth falling |
| 2019-06 | 1 |  |  |
| 2019-09 | 1 |  |  |
| 2019-12 | 4 | thin capital, net worth falling, losing money |  |
| 2020-03 | 4 | margin squeeze | delinquency rising |
| 2020-06 | 4 | 3rd-party paper>100% NW | margin squeeze |
| 2020-09 | 4 |  |  |
| 2020-12 | 5 | delinquency 2x band, delinquency rising | losing money |
| 2021-03 | 4 | expense trap | delinquency 2x band, delinquency rising |
| 2021-06 | 5 | losing money |  |
| 2021-09 | 6 | capital below 7% | losing money |
| 2021-12 | 6 |  |  |
| 2022-03 | 6 | delinquency rising | expense trap |
| 2022-06 | 7 | losing money, expense trap | delinquency rising |
| 2022-09 | 7 |  |  |
| 2022-12 | 4 | loans>95% of shares | net worth falling, capital below 7%, losing money |
| 2023-03 | 7 | losing money, delinquency 2x band, assets shrinking |  |
| 2023-06 | 7 | delinquency rising, members leaving | losing money, delinquency 2x band |
| 2023-09 | 7 | delinquency 2x band | loans>95% of shares |
| 2023-12 | 9 | net worth falling, loan book shrinking |  |
| 2024-03 | 8 | losing money, repo signal | assets shrinking, delinquency rising, net worth falling |
| 2024-06 | 8 | assets shrinking | repo signal |

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

- 2024-04-02 [UCU, Changing Seasons credit unions look to merge - mainebiz.biz](https://news.google.com/rss/articles/CBMihAFBVV95cUxPcjg3SWFDZFdoUXdRMFRjdVR5dngtTEdRR2IxUFpLcnZZX1VTMHduR1VHMm1nS1JUR2YydzZaU1A1NDR2ZzVfekdHU09jNU9rZXZEOTd0dnZLVkY4SmVJVmwtNUZGcXpCSzFITVNqNVRlamcyVlhwcHo3MWFVb1NfdmhuYXc?oc=5) · mainebiz.biz
- 2022-03-17 [Changing Seasons Federal Credit Union names Rob Picard as the new President/Chief Executive Officer - CUInsight](https://news.google.com/rss/articles/CBMi1wFBVV95cUxQSkFPdG9aZjcwckNRYzlVRVZvNDhueVRRRzhlaW5nR1R3ZVNhSHhwTl9teXEtYk95N0x6Y2lMbGpJc1BMYWVqaVhnM0ZlNUNSZnR0d0FtdnBjbG5TNHdXb1NMWVU0TlhGWTNtUzBjQlZ1bWE3VkhWYVRGQS1hSExrOVE5RmJsSUFKR2ZybWJBWDktdkJmMTVWWE5ucVN4MnZqRFB0eWtJd0RUWmo5NlNkQXBQcVMybUdsWTZiUzJyNG5lLVpIeEpRYzFONVVLRVd1dEV3LTNJdw?oc=5) · CUInsight
- 2024-05-11 [Baseball: Former first-round pick Lee May Jr. has ‘changed the game’ for Edward Little hitters - Sun Journal](https://news.google.com/rss/articles/CBMiyAFBVV95cUxOTF9GblgtVWgwWFJnMTdmcC1nYTZkbU9xWFZKUzNvTXRGdVdvZ1VVWGpuRmZxSmw4SkdMWEF3S3VyTklTYzdVQ1RORVAxc2ZnYnAxSE4xUmswdHJ1Z0NORzZJYmdralhHaElfNldRNDVWM3l0QW9jOGtaZHhCZnhEVUNfMnRNcmhQb0VENzhCLS1BTHFRZTJLQjIwajB1QlNwNU5QemhwQ1dpLW5kVUZTelRNMmpqWmtYSVpTb0ZMTjNrQ2pIYlN6OA?oc=5) · Sun Journal
- 2012-08-22 [Nicolle Ashley Lugdon - legacy.com](https://news.google.com/rss/articles/CBMikgFBVV95cUxQSnNqZ3hsQi1oUkx1M3RLVmJEcVZ6UEgwODVOQ2RkY1ZDLVQyWkxrNjMyYWRRaFFZMVloTU1wV1F2QWhHb2dPSjdzalkyc254SFg1ZFR6NkhoaGZUZ2R0RjZYMWcxZHVtVjh3cVlLeGdCLTA1MU5MWGVrUm50TUdLOUNKMld4bkt5ZTlEVXc2RUI1dw?oc=5) · legacy.com
- 2022-07-13 [A La Porte County Life in the Spotlight: Laura Panozzo - GreatNews.Life](https://news.google.com/rss/articles/CBMijgFBVV95cUxObnRtY3N1TWl0SWZBMmpEc2xCQ2lMa2pzZHQ0YkV2WHp3T1ZxcFZLbkxRbmdpN0hEMERaRUlieE5aMTBKcHlrWURjcEpYQnlvcWp4SVk3OEo5T3FaYzFUZW9DZ2ZsX3FjdXQycHZldmxrSVEtbEtfM3oyUUpTc1RoUllTSlcyMF9wU3hvVGJB?oc=5) · GreatNews.Life

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=17472 (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/0.json (key "17472", 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=17472
- 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