# ESSENTIAL
PLAQUEMINE, LA · NCUA charter 20972 · asset band $200-500M · latest filing 2022-09 · stopped filing after 2022-09 (departed; for a credit union that is almost always a merger)
Share link (named URL with a preview card): https://getbookiq.com/cu/essential-20972

Who the members are: federal charter, community charter, organized 1972, low-income designated. 45,083 members of 894,613 potential (5.0% of the field); checking penetration 51% (share draft accounts per 100 members); loans per 100 members 32.

**Verdict on the desk:** this could be *indirect buyer*. Composite score 4 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $394.2M |
| Members | 45,083 (6.2% YoY) |
| Full-time staff | 105 |
| Net worth | $33.1M |
| Net worth ratio | 8.4% (p21 of band) |
| ROA (annualized) | 0.52% (p33 of band) |
| Total delinquency | 0.61% (p76 of band) |
| Net charge-offs (annualized) | 0.26% (p76 of band) |
| Loans / shares | 92% (p86 of band) |
| Cash / assets | 6.8% |
| Borrowings / assets | 3.30% |
| Net interest margin | 2.85% (p63 of band) |
| Operating expense / assets | 4.60% (p96 of band) |
| Vehicles % of loans | 57% (p85 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 75% |
| Third-party paper % of net worth | 480% (p96 of band) |
| Vehicle delinquency | 0.41% (p57 of band) |
| Vehicle NCO | 0.33% (p70 of band) |
| Repossessed % of vehicle book | 0.10% (p84 of band) |
| Real estate % of loans | 27% |
| Credit cards % of loans | 0% |
| Unsecured % of loans | 4% |
| Commercial % of net worth | 27% |
| Core shares % of member funds | 61% |
| Certificates % of member funds | 16% |
| Average share balance | $4,599 |
| Participations bought / yr | $722,416 |
| Participations sold / yr | $0 |
| Participations outstanding | – |
| Loans outstanding per 100 members | 32% |
| Loans granted per 100 members, annualized | 12% |
| Average loan balance | $22,358 |
| Loans granted, annualized | $148.9M |

## Flags firing in the latest filing

- **thin capital** (`cap_low`)
- **expense trap** (`earn_opex`)
- **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 | 6 | thin capital, expense trap, delinquency 2x band, loans>95% of shares, leaning on borrowings, 3rd-party paper>100% NW |  |
| 2016-06 | 5 |  | leaning on borrowings |
| 2016-09 | 6 | net worth falling, leaning on borrowings | delinquency 2x band |
| 2016-12 | 6 |  |  |
| 2017-03 | 6 | margin squeeze | expense trap |
| 2017-06 | 4 | expense trap | net worth falling, leaning on borrowings, margin squeeze |
| 2017-09 | 5 | assets shrinking |  |
| 2017-12 | 6 | delinquency 2x band, loan book shrinking | loans>95% of shares |
| 2018-03 | 7 | repo signal |  |
| 2018-06 | 7 | losing money | delinquency 2x band |
| 2018-09 | 5 | delinquency 2x band | assets shrinking, loan book shrinking, losing money |
| 2018-12 | 4 |  | repo signal |
| 2019-03 | 4 |  |  |
| 2019-06 | 5 | delinquency rising |  |
| 2019-09 | 6 | charge-offs p90, assets shrinking | delinquency rising |
| 2019-12 | 4 | loan book shrinking | delinquency 2x band, charge-offs p90, assets shrinking |
| 2020-03 | 7 | losing money, charge-offs p90, assets shrinking |  |
| 2020-06 | 8 | net worth falling, repo signal | assets shrinking |
| 2020-09 | 7 | margin squeeze | loan book shrinking, repo signal |
| 2020-12 | 5 |  | losing money, net worth falling |
| 2021-03 | 3 |  | charge-offs p90, margin squeeze |
| 2021-06 | 3 |  |  |
| 2021-09 | 3 |  |  |
| 2021-12 | 3 |  |  |
| 2022-03 | 4 | delinquency rising |  |
| 2022-06 | 4 |  |  |
| 2022-09 | 4 |  |  |

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

- 2026-07-08 [Gonzales' Essential Credit Union reopens at new La. 30 location with upgraded ATM technology - WBRZ](https://news.google.com/rss/articles/CBMiuAFBVV95cUxPSmtHMFFBVURTS2tSY1RnZXFUNUhndkxJUFpKeWJORlpKTU1aS1EyaGdxS0ZzUGt4V1oxTWpybnNnbkdFMkhGWG5Md1hwOHFCUGZuWXpFNHZ3clNqbzc5UVExY0RtVlM3U3NROUlONU12akJlUFZqZnR3ZG5WVV9md1VSd05hUjg3Wjk0bTk4VnNQV2lpQlk1RVhDYUNJT0hKNXdQOUk0WmpRQXViMEw5bElYQ3g5blpH?oc=5) · WBRZ
- 2026-03-13 [Essential Credit Union to open full-service Towne Center branch and tag office - Baton Rouge Business Report](https://news.google.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?oc=5) · Baton Rouge Business Report
- 2026-02-11 [Seven suspects from transnational crime organization arrested in complex heist attempt at Essential Credit Union - WAFB](https://news.google.com/rss/articles/CBMizwFBVV95cUxPYXFoTWpLNjNLNXVFWWdtRmFoYllfbzdhTmRfSElicHpEb2x2MTFKRTlHVmhOSGRxVnRIaXdpcm9GUlF6eG1qUWVoekdDT1JsejBfRGpEaHk0RThacEd5cTZDLTlxc1Z0d2VJX2VUMVFRZWwxVUNLSVVVYU9SLWk0c21acEg1T1F6c21DYXpieGo1bDl0bk5fYzVnTUgwQlhpVzlpN18tUTBoV2lLRzZ1aEhpVVgtbEltSzMzSGVOWlJaejU1TW96dGE0UHhUbm_SAeMBQVVfeXFMT3AyZ1RBNHo5X2pFUVE2eThjeUdWT2Utd2o1UDRuTnlBYkNwcUhDczlHQjdLQUQtTWQ5bk5IRmk4NUtyQUNQVG1OZUhmQVQ3TnVmVEQyNm5pWldZWEFhYnFaeHNEQnN2YkFwaS1Lb1hMZ2Z6Vk1RaEJSQzZ5SVJLTVBpV3g4WTY2ZDNhaTBYUHFWU3NCTnhTU1hSYnZtaUstMDkyeWFfSmV6dldyMmJHTlRJcXd2TEh2WVRyWW04cTJNanJLUnBaVW9sUTdrYTRkRHdxa09FMzE4TDNIdFNLZ1dTOTA?oc=5) · WAFB
- 2026-08-30 [Loyola hires new top lawyer; ex-Saints staffer picked to tourism post; homecoming for new CFO - The Advocate](https://news.google.com/rss/articles/CBMi8wFBVV95cUxORkhoNEl2dkhkUFNzbkxlajdIcnBoUUlENkpDaldWZXNKVlZ0VEcwZWQ0YVhhYWtFQVI1VGtqenZMUzUwdkpwSW5HUVNmU0FJSFlHS2dlUlJUcnZVbzdWeVBDVDBxLU4zQVlMaHJsMVNMZW1wa29QclFYMms2TDg3Mk42eVU1XzlFbmp1dVVtNlJPZUl3RGtudXhIY2ozbU9vUDAxLU9fRG1yV3hQQjhxbzctdHk2V2RIbUxuS3pTdW9HeFlnbnp3Z0RDUnlXTS1XZVBqUDZTbDNsOFBVb0dHejNnNnFaTVcyUkNsQ0RMYUt6a1U?oc=5) · The Advocate
- 2026-08-26 [Get Ready for Fuerza Regida: Essential Info for Their 2026 Tour - Ticketmaster Blog](https://news.google.com/rss/articles/CBMib0FVX3lxTE1xaTZ1OGRFMFlydU56MDlYTUZuVDBYTkF5eU41Z0ZFdHcwSGlDVTYySmw0TXZJU3BlUEl4SHdLYUlPSEdLM0IwS0w4ejRFb204MW0zQ0NuVktHd2FNek53SzFoRW82RlM3R1h6Wlp3cw?oc=5) · Ticketmaster Blog
- 2026-02-07 [LSP: Seven Venezuelan nationals arrested for allegedly tampering with ATM in Baton Rouge - WBRZ](https://news.google.com/rss/articles/CBMitAFBVV95cUxPaERDRnBPaGluX0tOUF8wNms5TlcycVRMUGdQZXB1Yy1GMzFwLUQtSDdHQmJKcVVIYUZKZjdxQVNHOWJjOXpIT1BHUzBVdjFVTjlsWW90NHdGckVIMVNSNERtMnpBYmFNelhWMjRyMUN4VzJMWEF2Vmc4eDVlYzRnOTZNbno4LU92MVczMDM3SkpVSnNYQ2dHMEhOWTBQX0lyR2dzcTZib3pSdGdSd2lBZ2lfdHo?oc=5) · WBRZ
- 2026-06-30 [What’s being built, bought and planned in Ascension Parish - Baton Rouge Business Report](https://news.google.com/rss/articles/CBMioAFBVV95cUxNZFJZMEdZdHJzbHRZaGNJNjItT2xyclZhdlYwX3FrM0NKa1Z1UVVMMU13S2VEWTQ4dGpTVGpTeGhfQ3h0UFhCYjVMbGZYLWJ1MVdzcktibl9qQUpvOUVieUdndURTTnByNDV4MzYwU2R5X3dseGJiT2l5MkQxdDZzTXhGTHVlQ3RKTnFHTnMwdGt2ZmJVWEROZEJ6bmx2SW5l0gGoAUFVX3lxTE1tR3R6Y3cwQjNnOE8zMjVTZkVxNnVHQkwtaWwxV05Pa1Bfbm4yaHNSZjZfUV9xOGx1Y3pMMkdEZTBRNjZqRUl3bFFHb2RiNmo0eXkyc19reWZWaVVOUGgwUVFBSVdEdmZxRjZlME1oWFBKOFVzczRvRXgyeDFycFRzbnNKT0xzM2ViSjVhczhqdmdJNzRwQVUtX0NRSkFlR0FZN1E4T01VbQ?oc=5) · Baton Rouge Business Report
- 2025-10-30 [Cars are essential in most of the U.S. They're also increasingly unaffordable - NPR](https://news.google.com/rss/articles/CBMickFVX3lxTE1SR0F4MnhUcGw0VE1iNkM4N29pQkJZWmxxM0IyRGl5d2I3YklqLVBKcDBqZ1FCSmRVZm9iVnNiVE1QSmFFaXpSTzl1MHB6bGNYVG5YeVlnNy1aSjRRV2lwcDUzMEFDUjZXWDMyaWx3Q2pLdw?oc=5) · NPR

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=20972 (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/44.json (key "20972", 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=20972
- 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