# SHEET METAL WORKERS
Indianapolis, IN · NCUA charter 20174 · asset band <$50M · latest filing 2022-06 · stopped filing after 2022-06 (departed; for a credit union that is almost always a merger)
Share link (named URL with a preview card): https://getbookiq.com/cu/sheet-metal-workers-20174

Who the members are: federal charter, associational, organized 1970. 1,200 members of 3,500 potential (34.3% of the field); checking penetration 11% (share draft accounts per 100 members); loans per 100 members 23.

**Verdict on the desk:** this could be *auto monoline*. 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 | $8.8M |
| Members | 1,200 (-1.7% YoY) |
| Full-time staff | 2 |
| Net worth | $750,080 |
| Net worth ratio | 8.5% (p19 of band) |
| ROA (annualized) | 0.06% (p40 of band) |
| Total delinquency | 0.18% (p34 of band) |
| Net charge-offs (annualized) | -0.01% (p21 of band) |
| Loans / shares | 44% (p42 of band) |
| Cash / assets | 58.9% |
| Borrowings / assets | 0.00% |
| Net interest margin | 1.87% (p28 of band) |
| Operating expense / assets | 2.30% (p29 of band) |
| Vehicles % of loans | 84% (p92 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 0% |
| Third-party paper % of net worth | 0% (p43 of band) |
| Vehicle delinquency | 0.21% (p47 of band) |
| Vehicle NCO | 0.00% (p34 of band) |
| Repossessed % of vehicle book | 0.00% (p47 of band) |
| Real estate % of loans | 0% |
| Credit cards % of loans | 0% |
| Unsecured % of loans | 2% |
| Commercial % of net worth | 0% |
| Core shares % of member funds | 66% |
| Certificates % of member funds | 0% |
| Average share balance | $6,911 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | – |
| Loans outstanding per 100 members | 23% |
| Loans granted per 100 members, annualized | 12% |
| Average loan balance | $12,904 |
| Loans granted, annualized | $2.4M |

## Flags firing in the latest filing

- **thin capital** (`cap_low`)
- **auto monoline** (`str_vehicle`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 1 | auto monoline |  |
| 2016-06 | 1 |  |  |
| 2016-09 | 2 | net worth falling |  |
| 2016-12 | 4 | thin capital, losing money |  |
| 2017-03 | 5 | members leaving |  |
| 2017-06 | 4 |  | net worth falling |
| 2017-09 | 4 |  |  |
| 2017-12 | 4 | delinquency rising, assets shrinking | thin capital, losing money |
| 2018-03 | 5 | thin capital |  |
| 2018-06 | 4 | net worth falling | members leaving, assets shrinking |
| 2018-09 | 1 |  | delinquency rising, thin capital, net worth falling |
| 2018-12 | 4 | delinquency 2x band, delinquency rising, assets shrinking |  |
| 2019-03 | 5 | losing money, charge-offs p90, loan book shrinking | delinquency 2x band, delinquency rising |
| 2019-06 | 3 | members leaving | losing money, charge-offs p90, loan book shrinking |
| 2019-09 | 6 | delinquency 2x band, delinquency rising, loan book shrinking |  |
| 2019-12 | 3 |  | assets shrinking, delinquency 2x band, delinquency rising |
| 2020-03 | 4 | net worth falling |  |
| 2020-06 | 4 |  |  |
| 2020-09 | 6 | thin capital, margin squeeze |  |
| 2020-12 | 6 | delinquency rising | loan book shrinking |
| 2021-03 | 5 |  | delinquency rising |
| 2021-06 | 4 |  | members leaving |
| 2021-09 | 3 |  | net worth falling |
| 2021-12 | 3 |  |  |
| 2022-03 | 2 |  | margin squeeze |
| 2022-06 | 2 |  |  |

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

- 2026-06-03 [Building for the future - NW Labor Press](https://news.google.com/rss/articles/CBMiaEFVX3lxTE9nZDlBbWhaZWJkbTNpWXZEMUUzZURPMV9lTUhiNGVfeGFPT2NpREpFMnBiZDNFVlh5ZzdBVF9DOXBDazFsVU8xS0YyNVFoSjN1M2RMMENCOEJscUpuMWQ5cl9fMEk2UXRn?oc=5) · NW Labor Press
- 2022-05-23 [Zing! Denver-based credit union switches to a quirky new name - BusinessDen](https://news.google.com/rss/articles/CBMijgFBVV95cUxPYVd0Sk9BeUlxVHBfTlJGX0R3VHZDeUJNcWlFR0toQzBtYXlqYldMV0hkbDlYazFPZW03aFNDSmFNM2pmN2ZDbnh3TFQxRWtGOHYxcUNXVnA2NmFpb2RLWlNPa0Vkd3kzSUxZWUJWVkN0WUNDcDZyaV9UOTVBZ0lxN0I1MnFxVTBXSEMwekVR?oc=5) · BusinessDen
- 2022-06-08 [Here’s What Latest Disclosure Forms on Proposed CU Mergers Reveal - cutoday.info](https://news.google.com/rss/articles/CBMipAFBVV95cUxNUFJ3ZmoyelRvWDZJX0tZTzlTNlVpeWdocFY0OFp2a0J1R09sQWNHLW4wZWlVMnJXOVhVd3kxZFNYcG9aLUF5TmJCZ0QySk9FUDgzemJCN0xlT0RtbXVETWhDZjBkQ01YWU0xWHNFRG44R1k1ajYtcXlTbDBKWHJ0NTJpVEVJdlM1azhNbHVVRkVHcjhnMXNnY3hFUXBnaFBObHUxRw?oc=5) · cutoday.info
- 2024-08-09 [Michael J. Louismet Obituary Aug 9, 2024 - olsonfuneralhomebloomer.com](https://news.google.com/rss/articles/CBMidkFVX3lxTFBMT2Y1LTdIRHFHQ1Flem9PSzh4ZDQ1SE9JZVdTRUtFWUZrMVg4YUh3d1dGT19rMDZ5al9KQ1QwT040RExJZWFzVXRTSlg5dThUWTQ1RWF4cWhkaDNrang5ZTJoMWRtSzVOU04yMjhLcXdiUGxBMVE?oc=5) · olsonfuneralhomebloomer.com
- 2026-02-17 [Bay Front Chamber of Commerce Set for West Contra Costa Career Fair - Contra Costa News](https://news.google.com/rss/articles/CBMipwFBVV95cUxPWDFSZVFsZEU4ckVkZURMWDk5cVRrbEtxazA3VmtxVFpYWHRiajMxOEMwUVhBa01LaDg5aG9IVGZfYzRHWkU4WVBFRXdZQ2ZiRXdKWTg5cllDaEtuYms5ZkdlYjh1STZMMl9YdWdDdU5kczJ1azZzWkhVcmlKTm5yRGZKWFp6c1BRZFRrZjY1N0QzOFB5d1R4RnFRdVNFTDZ5aUp2TW94WQ?oc=5) · Contra Costa News
- 2012-09-04 [IBEW and United Workers Credit Union buys its building - NW Labor Press](https://news.google.com/rss/articles/CBMiU0FVX3lxTE5mZjV6ZlJtWUpYWmdTRDFiejhvY3dIZkZObG9uLTI0dHM4X1dQcXRFNldGeXI3MHExb2VROVpycnlzWUpud09YdFBPeVlNOE44RkdN?oc=5) · NW Labor Press
- 2019-10-29 [Skilled to Work: Inside an architectural sheet metal fabrication shop - WQAD](https://news.google.com/rss/articles/CBMi-gFBVV95cUxQTzFZWlAtU0d3TnYwMkY2VzdBNV93UXVtV2V5OFJhaXBWWTFPMGV3VmVjY0ZYUDZRb2lKSVV3TWpPMzdld3c0SU9Wd1VNWGNudUNtOWFUMl9yclY3aVBRZTFRZS1DVGFyTnZ2VFlpbHR3UENKX3YxRGhGM0FDTHdHQTEtOXQ0VjVIN0drclZyVUM5ak5UbUJkR3ZsUDByRVZFOExGSXNYdmFkWk9QUWJiMC1laTZhUGwtZnZvYXhybTRPSWxBMVNnNlVTLXowSl9MSnBlLWYtbG4xR3hWRzZtRmsyT1Zoa09qMGY4ajB1TjM1SXRMaS1HT1NR?oc=5) · WQAD
- 2024-10-27 [Nicholas V. Parise - Scranton Times-Tribune](https://news.google.com/rss/articles/CBMif0FVX3lxTE1TVUo2RmUzTWdBUDZOOU9FQTU4NDJwcnE0eF8yX1FLYVo5czFyWEt6SjJBcXAxOWgwdW9NR2RaUmJaYWpqWFNiZF8wRWhmVi1xejJCc1hVVnJVUF9oNGdnTDBoS1o2OENaUXVuaE9pS1RDaENFMmpUSXFGZ1d2OGs?oc=5) · Scranton Times-Tribune

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=20174 (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/14.json (key "20174", 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=20174
- 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