# OCEAN SPRAY EMPLOYEES
BRIDGEWATER, MA · NCUA charter 17537 · asset band <$50M · latest filing 2019-12 · stopped filing after 2019-12 (departed; for a credit union that is almost always a merger)
Share link (named URL with a preview card): https://getbookiq.com/cu/ocean-spray-employees-17537

Who the members are: federal charter, manufacturing (single sponsor), organized 1966. 921 members of 5,000 potential (18.4% of the field); checking penetration 53% (share draft accounts per 100 members); loans per 100 members 64.

**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 | $10.7M |
| Members | 921 (-9.6% YoY) |
| Full-time staff | 1 |
| Net worth | $1.4M |
| Net worth ratio | 13.1% (p48 of band) |
| ROA (annualized) | -0.35% (p12 of band) |
| Total delinquency | 1.24% (p62 of band) |
| Net charge-offs (annualized) | 1.50% (p91 of band) |
| Loans / shares | 48% (p30 of band) |
| Cash / assets | 19.8% |
| Borrowings / assets | 0.00% |
| Net interest margin | 3.34% (p45 of band) |
| Operating expense / assets | 3.69% (p54 of band) |
| Vehicles % of loans | 33% (p21 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 0% |
| Third-party paper % of net worth | 0% (p45 of band) |
| Vehicle delinquency | 1.50% (p73 of band) |
| Vehicle NCO | 1.30% (p90 of band) |
| Repossessed % of vehicle book | 0.00% (p44 of band) |
| Real estate % of loans | 42% |
| Credit cards % of loans | 10% |
| Unsecured % of loans | 24% |
| Commercial % of net worth | 0% |
| Core shares % of member funds | 53% |
| Certificates % of member funds | 21% |
| Average share balance | $5,203 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | – |
| Loans outstanding per 100 members | 64% |
| Loans granted per 100 members, annualized | 7% |
| Average loan balance | $7,574 |
| Loans granted, annualized | $722,663 |

## Flags firing in the latest filing

- **losing money** (`earn_negative`)
- **delinquency rising** (`aq_dq_rising`)
- **charge-offs p90** (`aq_nco_high`)
- **members leaving** (`shrink_members`)
- **loan book shrinking** (`shrink_loans`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 1 | losing money |  |
| 2016-06 | 0 |  | losing money |
| 2016-09 | 1 | delinquency 2x band |  |
| 2016-12 | 0 |  | delinquency 2x band |
| 2017-03 | 0 |  |  |
| 2017-06 | 0 |  |  |
| 2017-09 | 1 | members leaving |  |
| 2017-12 | 1 |  |  |
| 2018-03 | 3 | losing money, assets shrinking |  |
| 2018-06 | 3 | delinquency rising | assets shrinking |
| 2018-09 | 2 | assets shrinking | losing money, delinquency rising |
| 2018-12 | 2 |  |  |
| 2019-03 | 2 | delinquency rising | members leaving |
| 2019-06 | 2 | loan book shrinking | delinquency rising |
| 2019-09 | 4 | delinquency 2x band, delinquency rising, members leaving | assets shrinking |
| 2019-12 | 5 | losing money, charge-offs p90 | delinquency 2x band |

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

- 2025-03-26 [Merrimack Valley Credit Union adopts new name, following string of mergers - The Business Journals](https://news.google.com/rss/articles/CBMiqgFBVV95cUxPeW94OWc4NGtzNzZoVlV3VzdHcHYySm5MNVk1bHR1R0lsOTJXVnhMZDBvbXhULTdVOXZiRjVHWVlONWtIeVpJY3FQZUxQU1FOdjBBc25RWXBCTEVONDR5RGlKS2hKZkc0c09JVHdEcnIwaEp5MDVneGJVeWVhTmV4TGp5VG5vMkcwT2hkdjVmMGlVcm1ER1NaazRUZjlySldUQ3I3NjJ5NkNJQQ?oc=5) · The Business Journals
- 2024-12-03 [Merrimack Valley Credit Union and Cabot Boston Credit Union members approve proposed merger - CUInsight](https://news.google.com/rss/articles/CBMizAFBVV95cUxPVEViMHlXeHVMS1pmYncyNnd3ZkhkZW9ncFN5Y0JKQWNKRTRmTWdZZTdWX25pTGx2REc3N0JpNmVqaVVsdDJRZ1lKcEZ5ME1id2RucEpHYWJ2TXRPb1V4NXU0a05ULXpOWXhkaGpSMldXdU42RzFQTm1qbFk1anoxeHdESFdfTk5yQVc2R0swaGVpZ1hwNU15TmQ5Q3lGeTlKZG9JQnJ3ZUtjYV8zSnB2MHBzZmxmeDBDaWxQQlJ1SXRSdm1pN2xULTB0Q0U?oc=5) · CUInsight
- 2024-12-03 [Merrimack Valley Credit Union approves latest merger - The Business Journals](https://news.google.com/rss/articles/CBMipgFBVV95cUxNZXREVlRjZDJ4bjZOVDl3Wkcxam0yR1QtVldNVVdiYmw2WXl2MXNrOVRKeXZCMzVLY21wb0ZvVDF4c0ctOVd5RHE0UzVCRml0c3o0bG1ZWkJWMU0zRmNsVENRZlJKN0g1SXdQTkdONndtNWlqTGx3clNneG1yTjRjZW5VTDhCUlU5dDhJNktBU21PN3d0MzRRTUkxT3BoWDNjWEM0a193?oc=5) · The Business Journals
- 2025-12-02 [Two Mass. credit unions clear major hurdle in planned merger - The Business Journals](https://news.google.com/rss/articles/CBMiqAFBVV95cUxOdkRlNElSRGhBcjY4TWdDbEVOT0V1dFlQclJSZ1lVRlpIa0N5azFSOW9WbGwzT2VRYy1vVUxtcnRxWkNKTmljZHYyQWRtRm9SQ2V3QVU2UlFoWjcyRDgtcW9wSmRGdVR2OVdQNGxNWlJFLTFybEhkR2Z0UGpvb3cwY1ZoMlV2NUxKaVNET2xTMFM3TjdQVlZNSTBFVlRveFV0VlFVYVM5Ri0?oc=5) · The Business Journals
- 2025-07-16 [BrightBridge Credit Union plans to expand westward with merger - The Business Journals](https://news.google.com/rss/articles/CBMilwFBVV95cUxQUmdwaV95dHItb1JUeV9mU3ZCQ2M3aWJlMHRyR0I3eWZsamdIcDduYVlrLTlTcTZtZW5JLWpKSE5MSU5iZ0pqYW1ISlRkTjBGZEFzUDFGaVgzdHhRV1h2dFBGSEo2Yy1meTM3eXN4THBsVkxBNnA5UnVPVlpKbWZiQmVuM3JYWS1xQWlnUHk5NGVtX0dMcVRN?oc=5) · The Business Journals
- 2024-09-23 [Merrimack Valley Credit Union unveils new name - The Business Journals](https://news.google.com/rss/articles/CBMipAFBVV95cUxNQjJhM0N2VE1jZFRLTzV3ckVPZWg1eHNZLVZ6Vl9TOHF3bVAyWFE0c0NEZXhkRzhSaGdZX2xIVFNBTFpWRWhUQ0xkVENUdncwSkN0V2hXc0hqel9xQ2xrU3AyOHhfUURDUG1EUzZHc2NPdWV6cDBGUlBIVkV6UDRsOTljYmsxQmFrdVMwbnpBVUNHX1QyenJ4cGtKUUxwR2hKUUZiNg?oc=5) · The Business Journals
- 2023-11-22 [Merrimack Valley Credit Union plans to change its name next year - The Business Journals](https://news.google.com/rss/articles/CBMiogFBVV95cUxQSmI2NnExMHpJYlhYS2ZFR3hNaVhYeTNkbnpNNkxHR2pXejJyOTVNU25NWVNLdzhKUWpHTDZmZENkWXd6MUJZUmNnMTRyOS02RkFiR2hzMENna2ZTcFFqb1dvV3Z0OEtoXzBsa2NSVmZ3ZWFIa3VHTjRxbU9kX3Y4MjZ4MzV4VDZ4bXNrcE44X3Z1VWd4NzVHWFpacjg3anFBc0E?oc=5) · The Business Journals

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=17537 (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/1.json (key "17537", 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=17537
- 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