# FOREST AREA
Fife Lake, MI · NCUA charter 24047 · asset band $200-500M · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/forest-area-24047

Who the members are: federal charter, community charter, organized 1983, low-income designated. 21,325 members of 709,597 potential (3.0% of the field); checking penetration 60% (share draft accounts per 100 members); loans per 100 members 53.

**Verdict on the desk:** this could be *fortress*. Composite score 1 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $317.9M |
| Members | 21,325 (5.9% YoY) |
| Full-time staff | 69 |
| Net worth | $39.1M |
| Net worth ratio | 12.3% (p65 of band) |
| ROA (annualized) | 1.37% (p87 of band) |
| Total delinquency | 1.47% (p91 of band) |
| Net charge-offs (annualized) | 0.77% (p81 of band) |
| Loans / shares | 70% (p42 of band) |
| Cash / assets | 11.7% |
| Borrowings / assets | 0.00% |
| Net interest margin | 4.41% (p92 of band) |
| Operating expense / assets | 4.05% (p66 of band) |
| Vehicles % of loans | 24% (p31 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 38% |
| Third-party paper % of net worth | 46% (p39 of band) |
| Vehicle delinquency | 0.60% (p52 of band) |
| Vehicle NCO | 3.06% (p95 of band) |
| Repossessed % of vehicle book | 0.00% (p25 of band) |
| Real estate % of loans | 47% |
| Credit cards % of loans | 5% |
| Unsecured % of loans | 10% |
| Commercial % of net worth | 60% |
| Core shares % of member funds | 56% |
| Certificates % of member funds | 12% |
| Average share balance | $5,802 |
| Participations bought / yr | $284,160 |
| Participations sold / yr | $0 |
| Participations outstanding | $5.7M |
| Loans outstanding per 100 members | 53% |
| Loans granted per 100 members, annualized | 13% |
| Average loan balance | $17,096 |
| Loans granted, annualized | $58.9M |

## Participation posture (from the same filings)

Bought $284,160 and sold $0 in the latest annualized quarter; $5.7M outstanding purchased (14.6% of net worth), $850,417 sold and retained. Sold in 6 and bought in 7 of the last 8 quarters. Shares 9.3% year over year.

## Flags firing in the latest filing

- **delinquency 2x band** (`aq_dq_high`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 0 |  |  |
| 2016-06 | 0 |  |  |
| 2016-09 | 0 |  |  |
| 2016-12 | 1 | net worth falling |  |
| 2017-03 | 1 |  |  |
| 2017-06 | 0 |  | net worth falling |
| 2017-09 | 0 |  |  |
| 2017-12 | 0 |  |  |
| 2018-03 | 1 | charge-offs p90 |  |
| 2018-06 | 1 | delinquency rising | charge-offs p90 |
| 2018-09 | 1 |  |  |
| 2018-12 | 0 |  | delinquency rising |
| 2019-03 | 1 | net worth falling |  |
| 2019-06 | 1 |  |  |
| 2019-09 | 1 |  |  |
| 2019-12 | 3 | delinquency rising, 3rd-party paper>100% NW |  |
| 2020-03 | 2 |  | delinquency rising |
| 2020-06 | 2 |  |  |
| 2020-09 | 1 |  | net worth falling |
| 2020-12 | 1 |  |  |
| 2021-03 | 3 | net worth falling, delinquency rising |  |
| 2021-06 | 2 |  | net worth falling |
| 2021-09 | 1 |  | delinquency rising |
| 2021-12 | 1 | net worth falling | 3rd-party paper>100% NW |
| 2022-03 | 2 | delinquency rising |  |
| 2022-06 | 2 | delinquency 2x band | net worth falling |
| 2022-09 | 3 | 3rd-party paper>100% NW |  |
| 2022-12 | 3 |  |  |
| 2023-03 | 2 | charge-offs p90 | delinquency rising, delinquency 2x band |
| 2023-06 | 2 |  |  |
| 2023-09 | 2 | delinquency 2x band | 3rd-party paper>100% NW |
| 2023-12 | 1 |  | charge-offs p90 |
| 2024-03 | 1 | charge-offs p90 | delinquency 2x band |
| 2024-06 | 2 | delinquency 2x band, delinquency rising | charge-offs p90 |
| 2024-09 | 1 |  | delinquency rising |
| 2024-12 | 3 | delinquency rising, charge-offs p90 |  |
| 2025-03 | 3 |  |  |
| 2025-06 | 3 | net worth falling | delinquency rising |
| 2025-09 | 2 |  | net worth falling |
| 2025-12 | 1 |  | delinquency 2x band |
| 2026-03 | 1 | delinquency 2x band | charge-offs p90 |

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

- 2026-03-17 [2026 Kalkaska Citizen and Business of the Year Winners Announced - The Ticker](https://news.google.com/rss/articles/CBMiowFBVV95cUxQQ1BpMm8wV3prWnlhazRSXzVzUUNXWUpFcmtZM0hrRmFvUG95cDNtWEZLbERTcTA2ZXNRZExRcWNCdU83c2kxVy1XU2k4UzNRNHpwT1R5WmVtSVR4emMzTXA3MDZjZ0hSR1BYQjBUaEwyZUdSNFViOG0tMDNwVjVJamg5b05nWWJ1ZjlxdW53b3M0YUlrdGJXdE12dmNCOHJiT3Rn?oc=5) · The Ticker
- 2020-10-24 [Forest Area Federal Credit Union announces new Chief Executive Officer - Cadillac News](https://news.google.com/rss/articles/CBMi9gFBVV95cUxNbTYwTU9PT3FOSFlYdUVxbFhaQ1BsdnBUb0JkNWp0bjllYUpfYlZkbm5OU3NmYUd3OU0zTmNaZTFBckpoaHBKY0s1LUV1c3hoOXBWeFVDRjl4R196amdOTGJaejJKbGhhREg1OC1JbmozY1hSS0JBT2dkY0EtV2FEdmxFcW83WDhnQ3BhVFpGSnNnSEpFVTZ6bVZXYkx0b3BsUEs4V2g3RmR6TjdnaVlmWDltLW4zc1poa0YyRmdZeXFHWk5TMnowTzhIOURTM3E3TWR4TGlkNXFLVGJZSmhsajJHUW1ZTXRBek1qczQ2cG9oWnNMTFE?oc=5) · Cadillac News
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- 2016-11-27 [Lisa Ann Bandlow Obituary Nov 27, 2016 - reynolds-jonkhoff.com](https://news.google.com/rss/articles/CBMiaEFVX3lxTE93YWxPYzhTamZLbXoxbXNzWEs0QnlPbVNBNkZCNXFDbURTd0lkRWRDTXUwaVdzXy10Q05pSTdSME9vdHVGTE5seTJta1JubHpJSWNObjhEalExd2ZncE4tUEpPcnhUNW5W?oc=5) · reynolds-jonkhoff.com
- 2019-05-17 [Raymond Hoyt Obituary & Funeral | Kingsley, MI - Life Story Funeral Homes - Traverse City](https://news.google.com/rss/articles/CBMiZEFVX3lxTE9mMVVWWE16VGp5bV8weEVycWVPbnA4UkxqUEFtWk5kYVdsOW5fd1BRQ2xJN1BYbXRfVC1WckRtTjhVZ1Y0bThiUk85Z21nV05mZ2pFODJ4M0R3UzM4RFptVXJFNmM?oc=5) · Life Story Funeral Homes - Traverse City
- 2024-06-01 [Red Hot Best Winners 2024: The Best of Northern Michigan - MyNorth.com](https://news.google.com/rss/articles/CBMijAFBVV95cUxNVjBPdGQ1dmh3VzBTaFpWdkc5MmQwQ2s2V0VCTl92QnZtQ0ZHX3J5NU84TUtlbEFSRzZHb2dSaFBRTVNmTDFObTlOS2Z6TlRVd0JzM18zcUp0Rk96VmNibVk0RGt5cnozMWV2VThabHZlQ0Y0all3a0NId1lJUzdVbUVqU214X2tWXzdRSA?oc=5) · MyNorth.com
- 2024-02-28 [Google Wallet grows with 42 new supported banks in the US - Android Police](https://news.google.com/rss/articles/CBMikwFBVV95cUxQdTExb0swWkFSZ0xMRGU1OElrTVI2TFRrT1RUaFFkMTJtR0pIM0VmVGJXQ2hYbVZ5dEFwTjhZLU1Jbk9nT21iYmZmWVZFdWtMQTdGcXBOQVl6b3R6SWVmTDBaWGlWWVRCZXN4bmpOeVZ2cS01bTRYeFF6Yi14Tm40MDVCRkR3WXNLUnBKbXY1MzVpeWc?oc=5) · Android Police
- 2024-05-22 [New Forest Area Credit Union being built in Haring Township - Cadillac News](https://news.google.com/rss/articles/CBMi2wFBVV95cUxOdXBoRmpRbDhFZkFuR19GMzNlUFRUUXhRQ3dEamE3aG1TTjZfVjQySUhCZ0U2ZHZpWkVoNmNObW1JZkZTX3lHUnZ3ZW96RUpqSFJLZE1EbmJCdW1hNWFpZjV5Z3FwdHBoRlpuMm5TUzg0dEVCM1pFVk9rZ3VQQ0ttQ1l5amN0Ukx2cmxrYmZoNUEtREtlMUU5VkxFVFA2LU5NMDVnN3BWOTItdkpNVnh3XzZvOUEyWGpZRTg2TFJwY0s3MHkzZ0ZpR2l6Rkc3ZDBfMkZYZnFNS21wNFk?oc=5) · Cadillac News

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=24047 (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/47.json (key "24047", 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=24047
- 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