# THE UNITED
Morgantown, WV · NCUA charter 21305 · asset band $100-200M · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/the-united-21305

Who the members are: federal charter, multiple common bond, organized 1973, low-income designated. 5,950 members of 280,000 potential (2.1% of the field); checking penetration 45% (share draft accounts per 100 members); loans per 100 members 27.

**Verdict on the desk:** this could be *ordinary*. Composite score 3 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $107.6M |
| Members | 5,950 (-0.3% YoY) |
| Full-time staff | 25 |
| Net worth | $29.9M |
| Net worth ratio | 27.8% (p99 of band) |
| ROA (annualized) | 0.49% (p36 of band) |
| Total delinquency | 2.57% (p97 of band) |
| Net charge-offs (annualized) | 0.37% (p54 of band) |
| Loans / shares | 91% (p91 of band) |
| Cash / assets | 19.8% |
| Borrowings / assets | 0.00% |
| Net interest margin | 3.24% (p26 of band) |
| Operating expense / assets | 3.36% (p39 of band) |
| Vehicles % of loans | 12% (p9 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 0% |
| Third-party paper % of net worth | 0% (p16 of band) |
| Vehicle delinquency | 2.21% (p93 of band) |
| Vehicle NCO | 1.50% (p85 of band) |
| Repossessed % of vehicle book | 4.71% (p100 of band) |
| Real estate % of loans | 62% |
| Credit cards % of loans | 0% |
| Unsecured % of loans | 2% |
| Commercial % of net worth | 52% |
| Core shares % of member funds | 53% |
| Certificates % of member funds | 35% |
| Average share balance | $7,064 |
| Participations bought / yr | $1.9M |
| Participations sold / yr | $0 |
| Participations outstanding | $10.1M |
| Loans outstanding per 100 members | 27% |
| Loans granted per 100 members, annualized | 6% |
| Average loan balance | $44,408 |
| Loans granted, annualized | $4.7M |

## Participation posture (from the same filings)

Bought $1.9M and sold $0 in the latest annualized quarter; $10.1M outstanding purchased (33.8% of net worth), $0 sold and retained. Sold in 0 and bought in 8 of the last 8 quarters. Shares 1.8% year over year.

## Flags firing in the latest filing

- **net worth falling** (`cap_falling`)
- **delinquency 2x band** (`aq_dq_high`)
- **repo signal** (`aq_repo`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 2 | delinquency 2x band, repo signal |  |
| 2016-06 | 2 |  |  |
| 2016-09 | 2 |  |  |
| 2016-12 | 2 |  |  |
| 2017-03 | 2 | delinquency rising | repo signal |
| 2017-06 | 0 |  | delinquency 2x band, delinquency rising |
| 2017-09 | 1 | delinquency 2x band |  |
| 2017-12 | 0 |  | delinquency 2x band |
| 2018-03 | 1 | repo signal |  |
| 2018-06 | 2 | loans>95% of shares |  |
| 2018-09 | 2 | delinquency 2x band | repo signal |
| 2018-12 | 3 | delinquency rising |  |
| 2019-03 | 4 | repo signal |  |
| 2019-06 | 4 |  |  |
| 2019-09 | 3 |  | delinquency rising |
| 2019-12 | 3 |  |  |
| 2020-03 | 4 | members leaving |  |
| 2020-06 | 5 | margin squeeze, charge-offs p90 | loans>95% of shares |
| 2020-09 | 3 |  | members leaving, margin squeeze |
| 2020-12 | 3 |  |  |
| 2021-03 | 2 |  | delinquency 2x band |
| 2021-06 | 3 | members leaving |  |
| 2021-09 | 3 | delinquency 2x band | repo signal |
| 2021-12 | 2 | repo signal | members leaving, delinquency 2x band |
| 2022-03 | 2 | members leaving | charge-offs p90 |
| 2022-06 | 4 | delinquency 2x band, delinquency rising |  |
| 2022-09 | 2 |  | delinquency 2x band, delinquency rising |
| 2022-12 | 4 | delinquency 2x band, delinquency rising |  |
| 2023-03 | 5 | assets shrinking |  |
| 2023-06 | 2 | loans>95% of shares | members leaving, delinquency 2x band, delinquency rising, assets shrinking |
| 2023-09 | 4 | delinquency 2x band, delinquency rising |  |
| 2023-12 | 4 |  |  |
| 2024-03 | 4 | net worth falling | loans>95% of shares |
| 2024-06 | 3 |  | net worth falling |
| 2024-09 | 2 |  | delinquency rising |
| 2024-12 | 2 |  |  |
| 2025-03 | 3 | delinquency rising |  |
| 2025-06 | 3 |  |  |
| 2025-09 | 2 |  | delinquency rising |
| 2025-12 | 2 |  |  |
| 2026-03 | 3 | net worth falling |  |

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## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=21305 (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/57.json (key "21305", 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=21305
- 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