# EMPIRE FINANCIAL
New York, NY · NCUA charter 22344 · asset band <$50M · latest filing 2021-12 · stopped filing after 2021-12 (departed; for a credit union that is almost always a merger)
Share link (named URL with a preview card): https://getbookiq.com/cu/empire-financial-22344

Who the members are: federal charter, multiple common bond, organized 1976, low-income designated. 270 members of 350 potential (77.1% of the field); checking penetration 19% (share draft accounts per 100 members); loans per 100 members 21.

**Verdict on the desk:** this could be *stressed*. Composite score 10 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $5.1M |
| Members | 270 (-19.4% YoY) |
| Full-time staff | 0 |
| Net worth | $68,362 |
| Net worth ratio | 1.3% (p0 of band) |
| ROA (annualized) | -1.12% (p5 of band) |
| Total delinquency | 6.61% (p96 of band) |
| Net charge-offs (annualized) | 0.00% (p29 of band) |
| Loans / shares | 547% (p100 of band) |
| Cash / assets | 6.4% |
| Borrowings / assets | 81.77% |
| Net interest margin | 0.67% (p2 of band) |
| Operating expense / assets | 5.72% (p95 of band) |
| Vehicles % of loans | 4% (p6 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 0% |
| Third-party paper % of net worth | 0% (p46 of band) |
| Vehicle delinquency | 7.46% (p97 of band) |
| Vehicle NCO | 0.00% (p27 of band) |
| Repossessed % of vehicle book | 0.00% (p47 of band) |
| Real estate % of loans | 0% |
| Credit cards % of loans | 0% |
| Unsecured % of loans | 92% |
| Commercial % of net worth | 227% |
| Core shares % of member funds | 35% |
| Certificates % of member funds | 34% |
| Average share balance | $2,057 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | – |
| Loans outstanding per 100 members | 21% |
| Loans granted per 100 members, annualized | 11% |
| Average loan balance | $83,992 |
| Loans granted, annualized | $7.3M |

## Flags firing in the latest filing

- **thin capital** (`cap_low`)
- **capital below 7%** (`cap_critical`)
- **net worth falling** (`cap_falling`)
- **losing money** (`earn_negative`)
- **expense trap** (`earn_opex`)
- **delinquency 2x band** (`aq_dq_high`)
- **members leaving** (`shrink_members`)
- **loans>95% of shares** (`str_ltos`)
- **leaning on borrowings** (`str_borrowings`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 3 | thin capital, losing money, expense trap |  |
| 2016-06 | 3 |  |  |
| 2016-09 | 4 | delinquency 2x band |  |
| 2016-12 | 1 |  | thin capital, losing money, delinquency 2x band |
| 2017-03 | 4 | thin capital, losing money, delinquency rising, assets shrinking | expense trap |
| 2017-06 | 6 | net worth falling, expense trap |  |
| 2017-09 | 4 |  | delinquency rising, net worth falling |
| 2017-12 | 3 | delinquency rising | thin capital, losing money |
| 2018-03 | 3 | losing money | delinquency rising |
| 2018-06 | 3 | delinquency rising | losing money |
| 2018-09 | 3 | delinquency 2x band | assets shrinking |
| 2018-12 | 5 | thin capital, net worth falling |  |
| 2019-03 | 6 | margin squeeze, repo signal | delinquency 2x band |
| 2019-06 | 4 |  | delinquency rising, repo signal |
| 2019-09 | 3 |  | net worth falling |
| 2019-12 | 6 | capital below 7%, losing money, members leaving | margin squeeze |
| 2020-03 | 8 | net worth falling, assets shrinking |  |
| 2020-06 | 7 | margin squeeze, loans>95% of shares, leaning on borrowings | expense trap, losing money, net worth falling, assets shrinking |
| 2020-09 | 7 | delinquency rising | members leaving |
| 2020-12 | 8 | delinquency 2x band |  |
| 2021-03 | 8 |  |  |
| 2021-06 | 7 |  | leaning on borrowings |
| 2021-09 | 10 | net worth falling, losing money, expense trap, leaning on borrowings | margin squeeze |
| 2021-12 | 10 | members leaving | delinquency rising |

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

- 2024-07-02 [2012-2024 List Of Failed Credit Unions - Bankrate](https://news.google.com/rss/articles/CBMib0FVX3lxTFBqUTBmbUhvaEh6UXpMOERnZTMzUjU2djBQVUVxMHd4UmZFRF84OWFtelZtZXQ3eTF5ZE5fbE5YVTRIUWd2dDVDWjZxZ3F4d3gwRFhMV2FyT21RWXlTLVVoRTE5Z0R1Ql9iMHVmYndZUQ?oc=5) · Bankrate
- 2024-03-06 [Jovia Financial Credit Union Review: Friendly, Local Banking for Savers of All Ages - GOBankingRates](https://news.google.com/rss/articles/CBMilgFBVV95cUxQeVUxejVFdkRHcHc0bzdhbkY0LTNFLV9idzh0Q0E2ck9vb2hxVFRPMnF0Rks0Y3otNFhXVlpjdkwzTzZMZmMweHZiOWdQMXgyY3NMenhlUklYZEpzNkpSTmRPM1pYQlRTTlZ0TUNBNU53RmRYalBvTS1Na1dHc3pVTHZ0QlRVcjY4QXhTeVFBNDg0TTlzOXc?oc=5) · GOBankingRates
- 2025-03-18 [The 2025 Bestie Awards: People & Places - Capital Region Living Magazine](https://news.google.com/rss/articles/CBMiZ0FVX3lxTFAwR1o4ZHNjRnhlU1ZPVlJhbzhHM1pCeGhzWWZCaHp0NkxYXzN4OGxQNm5yMF9SbzlFc2Fad0E5ZlRTYm5Gamd4ckxrUGJIMTExT0lEX1ZEQV8yeXhST1BnQmVfVzI4VGc?oc=5) · Capital Region Living Magazine

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=22344 (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/8.json (key "22344", 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=22344
- 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