# NORTH SHORE
Silver Bay, MN · NCUA charter 18473 · asset band $200-500M · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/north-shore-18473

Who the members are: federal charter, community charter, organized 1967. 13,976 members of 123,544 potential (11.3% of the field); checking penetration 67% (share draft accounts per 100 members); loans per 100 members 61.

**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 | $281.6M |
| Members | 13,976 (5.5% YoY) |
| Full-time staff | 70 |
| Net worth | $35.9M |
| Net worth ratio | 12.8% (p70 of band) |
| ROA (annualized) | 0.59% (p41 of band) |
| Total delinquency | 0.63% (p53 of band) |
| Net charge-offs (annualized) | 0.02% (p6 of band) |
| Loans / shares | 89% (p86 of band) |
| Cash / assets | 11.3% |
| Borrowings / assets | 0.00% |
| Net interest margin | 3.97% (p76 of band) |
| Operating expense / assets | 4.28% (p75 of band) |
| Vehicles % of loans | 25% (p32 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 68% |
| Third-party paper % of net worth | 109% (p60 of band) |
| Vehicle delinquency | 0.04% (p6 of band) |
| Vehicle NCO | 0.21% (p22 of band) |
| Repossessed % of vehicle book | 0.08% (p68 of band) |
| Real estate % of loans | 55% |
| Credit cards % of loans | 1% |
| Unsecured % of loans | 1% |
| Commercial % of net worth | 87% |
| Core shares % of member funds | 51% |
| Certificates % of member funds | 24% |
| Average share balance | $5,550 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | – |
| Loans outstanding per 100 members | 61% |
| Loans granted per 100 members, annualized | 17% |
| Average loan balance | $25,618 |
| Loans granted, annualized | $58.0M |

## 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 | loans>95% of shares |  |
| 2016-06 | 1 |  |  |
| 2016-09 | 1 | delinquency 2x band | loans>95% of shares |
| 2016-12 | 1 |  |  |
| 2017-03 | 0 |  | delinquency 2x band |
| 2017-06 | 0 |  |  |
| 2017-09 | 0 |  |  |
| 2017-12 | 1 | loans>95% of shares |  |
| 2018-03 | 0 |  | loans>95% of shares |
| 2018-06 | 0 |  |  |
| 2018-09 | 0 |  |  |
| 2018-12 | 1 | loans>95% of shares |  |
| 2019-03 | 1 |  |  |
| 2019-06 | 1 |  |  |
| 2019-09 | 1 | repo signal | loans>95% of shares |
| 2019-12 | 1 |  |  |
| 2020-03 | 0 |  | repo signal |
| 2020-06 | 2 | net worth falling, margin squeeze |  |
| 2020-09 | 2 |  |  |
| 2020-12 | 2 |  |  |
| 2021-03 | 2 |  |  |
| 2021-06 | 3 | delinquency rising |  |
| 2021-09 | 3 |  |  |
| 2021-12 | 1 |  | margin squeeze, delinquency rising |
| 2022-03 | 2 | delinquency rising |  |
| 2022-06 | 0 |  | net worth falling, delinquency rising |
| 2022-09 | 0 |  |  |
| 2022-12 | 1 | delinquency rising |  |
| 2023-03 | 1 | 3rd-party paper>100% NW | delinquency rising |
| 2023-06 | 2 | leaning on borrowings |  |
| 2023-09 | 1 |  | leaning on borrowings |
| 2023-12 | 1 |  |  |
| 2024-03 | 1 |  |  |
| 2024-06 | 1 |  |  |
| 2024-09 | 1 |  |  |
| 2024-12 | 2 | delinquency rising |  |
| 2025-03 | 2 |  |  |
| 2025-06 | 2 |  |  |
| 2025-09 | 2 |  |  |
| 2025-12 | 2 |  |  |
| 2026-03 | 2 |  |  |

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

- 2026-08-19 [Abrahamson to Retire from Two Harbors Federal Credit Union - North Shore Journal](https://news.google.com/rss/articles/CBMinwFBVV95cUxQamhDTDh0WEt2X1pXWTZ5bzFVYm5qa05EaVM4d3hfSTdnMFo3NkR5V04tSzBmQkdMZXktXy1SanBIWHppSkhIS1JjcGRzdDJFZ0hGa0JITTBUUEF1Q2l2SndKVkRXam5zbzYzakVaejl1N2dUVnhNMTJSZ21xQ0l0YmtsbmZNUTZ5akg0RzlZS3RwU29xZ3BLbVVIYTdLc28?oc=5) · North Shore Journal
- 2025-10-01 [Local Business Spotlight: North Shore Federal Credit Union - WTIP](https://news.google.com/rss/articles/CBMigAFBVV95cUxNV2tjd2huMGFBd1FxM0g5NFVySVNuckNES1RHdmVRNGZDbWVuazh4WS1XWFcxeUpsOGJBem9Wam9YZmJwMFh1WWkzYlMxd013dVYtNThCWjhuTkdtUFQ5M1JxRGZLTDRkUTBZd2RsVkFMNmVhSjVpemlRZ25WeE9vNg?oc=5) · WTIP
- 2026-01-15 [North Shore Federal Credit Union’s Hunger Hero Program Continues to Fight Hunger Locally - North Shore Journal](https://news.google.com/rss/articles/CBMixgFBVV95cUxQdmgzYmhacmg4WnhzWjdld0U5UUVaNHI4azZGTEJmbGRZQlZtQ05uUnFtbV9LdUo3QjdWSGZSRVpzVzRoZ2FFak1zellqWkQ2bWl4VG1kNE42dVktenM1UE1DbTN3UlJKTjdUN3dpekdOUGhhTEFYV0lGSWJQUGRRR3NERGw2ZE1iamgwTHNiVmhqTDlqTm5SYjVCZE1mRUlqSVQ4Z0FPdWJPaTk1NU1yR1lpeEVwWS1FWUNOaEdjRm5nRURlZlE?oc=5) · North Shore Journal
- 2026-07-28 [United Savings Credit Union breaks ground on new Detroit Lakes branch - Detroit Lakes Tribune](https://news.google.com/rss/articles/CBMiqgFBVV95cUxNUEhlTklGWERrb1dhLXRHMnlBVjZEbkVtLTNScjdSWVhMMjhOaFI4WU5JSEh6ZTZrd3A1UlRlMTNpS01XMWMyWmxXdEltdmNhallaSXJSX1J3dXFjaHFab2c2VVU5UTJlMmVlVGx4YjA4bVJsMFlCYmpRQm10aVN5Z3lYRkZFX0J4dFFneF9KRnhzbUtBWmhaMnA0NGptRWtxXzNtbTZOMi1zUQ?oc=5) · Detroit Lakes Tribune
- 2025-11-22 [2025-26 girls hockey preview: North Shore Storm - Duluth News Tribune](https://news.google.com/rss/articles/CBMilwFBVV95cUxQMURLRDAxdUZ5ODczRUFYSGRySDV2ZktPekhjWDk1RkpMZE5ZYy1rczd2NkVMNnlIS28tQV84WS1mQlRVSFJLeDNZa2tpSVMzZ1ZUVDRJUV9sSEFXRjZ4TklnRXlDTURVZ1EwcUVicTVLYzNSd2hSX2txWTF5WE5palRlLTN4MmVDZnlYVy13M0NFT2VHTkVF?oc=5) · Duluth News Tribune
- 2026-04-01 [Willert Inducted into Hall of Leaders | North Shore Journal | Two Harbors, Silver Bay & Lake Superior - North Shore Journal](https://news.google.com/rss/articles/CBMiiAFBVV95cUxOSkFXNzhxek1iR1gybElsSVh0UWpMc2Z0clp4dTBYczJncW9yVWtxV05xR01vS2I4NV9Vd2hsS2lOMnpySEZWa0ZDUGdsRHJQeUw4Nks1a0syYnd1enZld0FWclp2ZVRNLXRYTkdIcGx6YzM0X2lJZHk5d2FaNTVkU29ZMkFwSkpN?oc=5) · North Shore Journal
- 2026-04-21 [Deanne Kay Reiten Obituary (2026) - Andover, MN - Thurston-DeShaw Funeral Home - Andover - legacy.com](https://news.google.com/rss/articles/CBMiggFBVV95cUxQZlVXNGIxRE9waU1vZ0xuS3VFdXhtdFhvSE5RbUoxa3A3dG9FQlJkc0YtaGNLYmlEMXVwWjA1c1dWZ2tnWF9QalkzMko0bElQUmZqWkNrMjJSd3RPQ2xQMk1RS0pvZVRTaF9UZHh6NDVKVUQ5SmcwRVd1dER5WWp4bUNB?oc=5) · legacy.com
- 2020-06-22 [North Shore Federal Credit Union’s Lincoln Park branch opens - BusinessNorth](https://news.google.com/rss/articles/CBMi6wFBVV95cUxOd1E4LXN0T0t6OTlUUjZSckZBQndRbVZiWmxVM3drQ1FsQ2dJX0NPaFJwcXNzLVAwM0FXNGtEYkZ4c3AyWm9QaXRNd2I2b1BhSHJIVzhfUUtVRWdKN0kzSXRhaS1faWJvcnVuYXAtOE9mTmVIb2ZWUnVjN1JHUG9QendaNENaZUZUazZ0TDRtODRHb0dySk90ZG9zMTVUeVhQbHZXV2FHZFFDaG1WbDNXN3lpMndnRGRFY19UODFmVGVvWm9qMldGeU11c29FcmNXZTZ1c1lIcE16WVhBdEhLSE1fSTZfd0IzR2dR?oc=5) · BusinessNorth

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=18473 (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/41.json (key "18473", 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=18473
- 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