# CARO
COLUMBIA, SC · NCUA charter 24404 · asset band $100-200M · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/caro-24404

Who the members are: federal charter, multiple common bond, organized 1967, low-income designated. 10,650 members of 111,685 potential (9.5% of the field); checking penetration 65% (share draft accounts per 100 members); loans per 100 members 86.

**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 | $156.1M |
| Members | 10,650 (45.5% YoY) |
| Full-time staff | 37 |
| Net worth | $24.0M |
| Net worth ratio | 15.4% (p84 of band) |
| ROA (annualized) | 0.28% (p23 of band) |
| Total delinquency | 0.79% (p62 of band) |
| Net charge-offs (annualized) | 0.30% (p45 of band) |
| Loans / shares | 67% (p45 of band) |
| Cash / assets | 25.8% |
| Borrowings / assets | 0.00% |
| Net interest margin | 4.15% (p77 of band) |
| Operating expense / assets | 5.39% (p91 of band) |
| Vehicles % of loans | 27% (p33 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 0% |
| Third-party paper % of net worth | 1% (p35 of band) |
| Vehicle delinquency | 1.29% (p80 of band) |
| Vehicle NCO | 0.19% (p29 of band) |
| Repossessed % of vehicle book | 0.36% (p92 of band) |
| Real estate % of loans | 33% |
| Credit cards % of loans | 1% |
| Unsecured % of loans | 6% |
| Commercial % of net worth | 117% |
| Core shares % of member funds | 88% |
| Certificates % of member funds | 5% |
| Average share balance | $6,858 |
| Participations bought / yr | $4.0M |
| Participations sold / yr | $6.5M |
| Participations outstanding | $14.5M |
| Loans outstanding per 100 members | 86% |
| Loans granted per 100 members, annualized | 2% |
| Average loan balance | $9,861 |
| Loans granted, annualized | $7.9M |

## Participation posture (from the same filings)

Bought $4.0M and sold $6.5M in the latest annualized quarter; $14.5M outstanding purchased (60.6% of net worth), $6.4M sold and retained. Sold in 1 and bought in 6 of the last 8 quarters. Shares 30.5% year over year.

## Flags firing in the latest filing

- **net worth falling** (`cap_falling`)
- **expense trap** (`earn_opex`)
- **delinquency rising** (`aq_dq_rising`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 1 | repo signal |  |
| 2016-06 | 0 |  | repo signal |
| 2016-09 | 0 |  |  |
| 2016-12 | 0 |  |  |
| 2017-03 | 2 | repo signal, members leaving |  |
| 2017-06 | 1 |  | repo signal |
| 2017-09 | 1 |  |  |
| 2017-12 | 2 | assets shrinking |  |
| 2018-03 | 1 |  | assets shrinking |
| 2018-06 | 1 |  |  |
| 2018-09 | 1 |  |  |
| 2018-12 | 2 | net worth falling |  |
| 2019-03 | 2 |  |  |
| 2019-06 | 1 |  | net worth falling |
| 2019-09 | 1 |  |  |
| 2019-12 | 1 |  |  |
| 2020-03 | 2 | assets shrinking |  |
| 2020-06 | 3 | net worth falling, repo signal | assets shrinking |
| 2020-09 | 3 | margin squeeze | repo signal |
| 2020-12 | 2 |  | net worth falling |
| 2021-03 | 4 | losing money, charge-offs p90 |  |
| 2021-06 | 3 |  | margin squeeze |
| 2021-09 | 2 |  | losing money |
| 2021-12 | 1 |  | charge-offs p90 |
| 2022-03 | 1 |  |  |
| 2022-06 | 1 |  |  |
| 2022-09 | 0 |  | members leaving |
| 2022-12 | 0 |  |  |
| 2023-03 | 0 |  |  |
| 2023-06 | 1 | expense trap |  |
| 2023-09 | 1 | leaning on borrowings | expense trap |
| 2023-12 | 4 | net worth falling, repo signal, members leaving |  |
| 2024-03 | 5 | delinquency 2x band, delinquency rising | repo signal |
| 2024-06 | 3 |  | net worth falling, delinquency 2x band |
| 2024-09 | 2 |  | delinquency rising |
| 2024-12 | 2 |  |  |
| 2025-03 | 3 | repo signal, assets shrinking | leaning on borrowings |
| 2025-06 | 2 |  | repo signal |
| 2025-09 | 4 | expense trap, repo signal |  |
| 2025-12 | 4 | delinquency rising | repo signal |
| 2026-03 | 3 | net worth falling | members leaving, assets shrinking |

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

- 2026-02-06 [CARO Federal Credit Union promotes Gwen Rivers to Executive Vice President - CUInsight](https://news.google.com/rss/articles/CBMitgFBVV95cUxQMkd5ckoxRFZkbkxBTEY5eEs1VDRodTFGdnJvblFPeTh5cjdTRk9pQWhFZjVtTTNLcUx0M2tlN0oyb2lXVFNQOU1ZbnNHeGt5MmJEclNERk9vMlh3MzZVWkhQdkVCajRBbVE4Rm1OcHVLZEVTMGhCNTE0TTlUdUFHbnpCbDhSVmZ5cmJBOUVnRHdkdFUzWktqT1V3dlZUYzV0NXpETEhISnBMSkJBU1VjUjI0TVBMUQ?oc=5) · CUInsight
- 2025-07-22 [Credit Unions Face Tough Tech Choice: Pay Up or Fall Behind - The Financial Brand](https://news.google.com/rss/articles/CBMisAFBVV95cUxQX05UNEo1MThaOXBDckxNQkJsNXFjU09paDZrY0ZjZENvbGdNQVZlSThYc2d4VHduQV9TeTZjWGJCZmdBQWxkbVppTUlpaXZqbFRiMVF6NGtIYk9fNVBSZU9RYWNjbjg0RUlyeFg2MlBhck5uZGdqVVczRXpGeFU2eHo2ZXBSNFFpNnZxTTVDZS0zWnBxUkdGcHZ3WXFFcTFNSUtqSmYwTG00azE5amZBQg?oc=5) · The Financial Brand
- 2022-10-18 [Napa home to new admin campus/branch of Redwood Credit Union - The Napa Valley Register](https://news.google.com/rss/articles/CBMi5AFBVV95cUxQRzJob183dTdBUWhTOFhtUzVMd2VENjFnUDhrSE5pdzJHVndtTENSWFdfQ2s0MWdnOE1DcUp5RW1leENNWThzRW5fZ3Q0Tkx4YTh1OVRuTXp5OUJ2SzNiblRkT0xSVm83eGMwWmktQUk3WWttVjI1M2RuWGhfRFhVRml5Mlc3WUZJck16VHU0ajJOMkNuSWwzeHExaG1qVnZ1NGtMYVdwVWg5SkhTWU12dkNFYlB4aWl6UmJ3Wnl1S3hUbzNGaHlvd2FiUDEyUldpRGRJbzg2T1hES3lEUGZBMXhQOVM?oc=5) · The Napa Valley Register
- 2022-06-08 [Here’s What Latest Disclosure Forms on Proposed CU Mergers Reveal - cutoday.info](https://news.google.com/rss/articles/CBMipAFBVV95cUxNUFJ3ZmoyelRvWDZJX0tZTzlTNlVpeWdocFY0OFp2a0J1R09sQWNHLW4wZWlVMnJXOVhVd3kxZFNYcG9aLUF5TmJCZ0QySk9FUDgzemJCN0xlT0RtbXVETWhDZjBkQ01YWU0xWHNFRG44R1k1ajYtcXlTbDBKWHJ0NTJpVEVJdlM1azhNbHVVRkVHcjhnMXNnY3hFUXBnaFBObHUxRw?oc=5) · cutoday.info

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=24404 (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/20.json (key "24404", 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=24404
- 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.

---
Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide