# INDUSTRIAL
Lafayette, IN · NCUA charter 24026 · asset band $200-500M · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/industrial-24026

Who the members are: federal charter, multiple common bond, organized 1983, low-income designated. 31,994 members of 105,000 potential (30.5% of the field); checking penetration 61% (share draft accounts per 100 members); loans per 100 members 71.

**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 | $355.6M |
| Members | 31,994 (1.0% YoY) |
| Full-time staff | 96 |
| Net worth | $31.4M |
| Net worth ratio | 8.8% (p12 of band) |
| ROA (annualized) | 1.15% (p80 of band) |
| Total delinquency | 0.56% (p46 of band) |
| Net charge-offs (annualized) | 0.39% (p49 of band) |
| Loans / shares | 76% (p52 of band) |
| Cash / assets | 18.9% |
| Borrowings / assets | 0.00% |
| Net interest margin | 4.57% (p95 of band) |
| Operating expense / assets | 4.68% (p88 of band) |
| Vehicles % of loans | 57% (p90 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 65% |
| Third-party paper % of net worth | 305% (p94 of band) |
| Vehicle delinquency | 0.43% (p39 of band) |
| Vehicle NCO | 0.45% (p40 of band) |
| Repossessed % of vehicle book | 0.09% (p68 of band) |
| Real estate % of loans | 29% |
| Credit cards % of loans | 6% |
| Unsecured % of loans | 9% |
| Commercial % of net worth | 0% |
| Core shares % of member funds | 44% |
| Certificates % of member funds | 21% |
| Average share balance | $4,995 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | – |
| Loans outstanding per 100 members | 71% |
| Loans granted per 100 members, annualized | 12% |
| Average loan balance | $10,718 |
| Loans granted, annualized | $96.7M |

## Flags firing in the latest filing

- **thin capital** (`cap_low`)
- **3rd-party paper>100% NW** (`str_thirdparty`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 4 | losing money, expense trap, delinquency 2x band, 3rd-party paper>100% NW |  |
| 2016-06 | 3 |  | delinquency 2x band |
| 2016-09 | 2 |  | losing money |
| 2016-12 | 2 |  |  |
| 2017-03 | 3 | delinquency 2x band |  |
| 2017-06 | 2 |  | delinquency 2x band |
| 2017-09 | 2 |  |  |
| 2017-12 | 2 |  |  |
| 2018-03 | 2 |  |  |
| 2018-06 | 2 |  |  |
| 2018-09 | 2 |  |  |
| 2018-12 | 2 |  |  |
| 2019-03 | 2 |  |  |
| 2019-06 | 2 |  |  |
| 2019-09 | 2 |  |  |
| 2019-12 | 2 |  |  |
| 2020-03 | 2 | net worth falling | expense trap |
| 2020-06 | 3 | margin squeeze |  |
| 2020-09 | 3 |  |  |
| 2020-12 | 4 | thin capital |  |
| 2021-03 | 5 | members leaving |  |
| 2021-06 | 4 |  | net worth falling |
| 2021-09 | 4 |  |  |
| 2021-12 | 3 |  | margin squeeze |
| 2022-03 | 3 | net worth falling | members leaving |
| 2022-06 | 2 |  | net worth falling |
| 2022-09 | 2 |  |  |
| 2022-12 | 2 |  |  |
| 2023-03 | 2 |  |  |
| 2023-06 | 3 | delinquency rising |  |
| 2023-09 | 3 |  |  |
| 2023-12 | 3 |  |  |
| 2024-03 | 2 |  | delinquency rising |
| 2024-06 | 2 |  |  |
| 2024-09 | 3 | expense trap |  |
| 2024-12 | 2 |  | expense trap |
| 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)

- 2026-07-30 [IFCU wins Forbes Best-In-State Credit Union award for the second time - starcitytv.com](https://news.google.com/rss/articles/CBMi7gFBVV95cUxPOTR0VWtkSjZFbUlIMUczSkx5RXNteVU5cENNcV90V3RPb2tVY2draE9pZDB5NGFGWXJZVk9GS2QwN0dCRUlZVXZkREZGdnRpT3JZRDI5RU5zbjBMcnJ2VGR6NjUxUGI2dnpGQXpHOHFocloxcXFKSFZNUmhMajFYNEFZdjh3bDMyeWJvYlRuTmVReThrME9FNHZOX2h0eTZqVDc5MjU1XzNIclNoLUZfS0JTT09SR2JFQmpUWU9JWHpFODZtTUdhNnBZTGhPMkRvd0RZdWVGZFkzV2QzWklRSU5CTE9DbFV1R2psWnhn?oc=5) · starcitytv.com
- 2026-07-28 [Industrial Federal Credit Union Named #1 Credit Union In Indiana - WLFI](https://news.google.com/rss/articles/CBMimAFBVV95cUxQY2RPNWxrLXVRQWtLNkpVaU9fdXcwM0pacTc0QmlyeV9Bd292SGZkZy1zSE9JbkZTVVVHYmxOUzdJSDl3blVPSXRuTnFGZ2VjbHJSNWpteHdWTE1qN29heDhxdVozQTFCZm5UVEtJTl8wZnpkbENocTRHcEg1YjczT1d6dXM3SVhsa21VOVJEUmhfczZxempzUdIBrAFBVV95cUxQZ09zWFNhT3VNbm1PWTItYnJJdDFRaHhWOFVfSGdrOFpFQU1BWEl4QnREMEoyVUhURFlKUUUxdGItY0tZU1NnM2d6WG9XX1JYdTBhR2kyOW1ZQnk4Z1hJTEY1S1hUcGFROXE4VjFVUzNUbFZ3ZGdnd2RVMTNZVkhiOWgwbmg1N2IxcnVzbzR1UG5ZMHFUdkhyZ3VBRnF3WFV6U0lndDg4MEs0RlFr?oc=5) · WLFI
- 2026-08-26 [Great Falls FCU Highlights Accessible Savings Options - WBOC TV](https://news.google.com/rss/articles/CBMi6wFBVV95cUxNd1lCTXY3Ny1kSlhzczExbGU3SlkxRW5SR2JmWDQ1QVlFLVphU2tlSXN3ZkUwbEc2dVQ5YWFJWTYxTmZLVnlYNVFweDZSQ0F0bkpiUjFuOHNoV3JZN1gwTHFoUjJSTnp3TW85Z1F5dUJsUDJPeS1ZNnlKS3N0bjdWSUtQSkNlcTZGTUg2QnY4QVZPY3JZWmZZOE5nYTNKcWVENUpacTlrc0dSMGh4VXRfSDFfaEhKM3hYYno3NGoySGY2ank2YWpmWkhreWNwODdoczUzSnVpR0lUTHN4MFFvNHREbGlBNGdicEtB?oc=5) · WBOC TV
- 2026-09-04 [Staff at Tullow Credit Union in Carlow have begun number of strike actions in dispute over trade union recognition and collective bargaining - independent.ie](https://news.google.com/rss/articles/CBMipAJBVV95cUxNcHBZcmQ3Z1BHM210U3UwOWdRNHZRVTZfd3FmVjJKNnVHRTV1elY2OXBRcC1QSm8xQ0F1X0E1MzdlSVR2U1pDd0s5ZmZOM2FBdldxZ3hwTThVaEx2aG5HelFsTE43bDdEZEVqUWZJcU1mYUdsRGF3X1hhZWNiakk2YUEwRmJHU0E4bHVuNkxJMjhsUVlnWkpacTlLdnFDVWtfM0xuNGoxcGN1Zl9wdk1DWHUxcFBzSUtzX0lOZGNReHRhcGcyY19DNlZ6QzNRVGJ6ZFAyTlBEclFZUW1tX2paQV9pdG51VjFabTJxcmIxYjZ1aldNbm53SXpPNEo0RVh2YmNoZUpLZXJ1X2VYcUx0akQzMnBBQmhGNzhBdXl1c1FYVTlY?oc=5) · independent.ie
- 2017-12-12 [Industrial Credit Union Brings Common Goals of Financial Success to Members and the Community - WhatcomTalk](https://news.google.com/rss/articles/CBMicEFVX3lxTE1MN29BUXNZLUozVWx0VU1KNjhPWjlsdldLU0FBcGw1VVdieGI3dHlodFdjLURDWGpaYzBTaVdHYzRWa0MyS3FnektzNVZnSERWS1lma1NMZkZDUWN4eVp6ZDJ4WWJMcklUNk9jaTJ3TkE?oc=5) · WhatcomTalk
- 2022-03-13 [Railroad & Industrial Federal Credit Union announces name change - CUInsight](https://news.google.com/rss/articles/CBMipgFBVV95cUxORUd4cXQzeFQtaU1xeVh4aTI4OWJKLUE1c25XZ3FIR2FJdlBFT2M5d3gtamZzbENrVTZkZVdBalVxUElLRVg4RExLN1Q4bC16Ul9ackY4cFV0NW92aThjNlc1QWRKR3NpYnVPd0YtRUQ2bVU2eV9VcEZKYi15S2NZS2NFeGE3WE1IamxjbTFwTmhJRWNibjczRFd2MWx5NTRxUzV6aVZB?oc=5) · CUInsight
- 2015-03-04 [Webster First, Industrial credit unions to merge - Worcester Business Journal](https://news.google.com/rss/articles/CBMihAFBVV95cUxQX3ZfcFFweXVYTTY0NXkza0plOHpFS2lhYVdiOHI2SThNWDRlc0h3VUM2UXM4TnlvY3J3aHhiaFJYMFRlcGZiclVrMUtLamktWjJsRmxNbU1BMXBYU2czMXhLOTRWSkw3Y3FULUwwQkwzN2RXZzZTQ2JLRjlTMXRZYkRQYVU?oc=5) · Worcester Business Journal
- 2021-11-04 [Midwest Members Credit Union merges with Processors-Industrial Credit Union - AdVantageNews.com](https://news.google.com/rss/articles/CBMi-gFBVV95cUxPUjJlSXlhTVlGaVFTQlV0QWdpRGNjc1pEOVpIOUlGeThVTXNKOEpnODFUTE1KcGpydk5EUmdubmx1bjJUVkNZYkd2Ul9hWEVrSXJEXzllUXFNNTVjQ1plWTBodkxFYkIzMUdJSW9LOV8wYUJvLWJ1VjJ3SzYxb25zYWZtbkg0V1NfY3hRa0xNMjdQRGh3RmhLdXFobHM4NmZSMG5jYzYyWFNrVVo4Q0dJSF9xZVR4SndTcXpEYUFJUHYwcG10am55UXM3ZHN2Sm5aTmdUMWFGV2dYREVXQ3J6MS12OEZQMDBpT3lpUDI5SzI3d0lvRWtocDhB?oc=5) · AdVantageNews.com

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=24026 (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/26.json (key "24026", 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=24026
- 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