# MUTUAL FIRST
Omaha, NE · NCUA charter 24540 · asset band $100-200M · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/mutual-first-24540

Who the members are: federal charter, community charter, organized 1949. 10,093 members of 956,718 potential (1.1% of the field); checking penetration 40% (share draft accounts per 100 members); loans per 100 members 50.

**Verdict on the desk:** this could be *stressed*. Composite score 5 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $126.1M |
| Members | 10,093 (-10.0% YoY) |
| Full-time staff | 26 |
| Net worth | $9.9M |
| Net worth ratio | 7.9% (p3 of band) |
| ROA (annualized) | 0.04% (p10 of band) |
| Total delinquency | 2.75% (p97 of band) |
| Net charge-offs (annualized) | 0.52% (p69 of band) |
| Loans / shares | 77% (p64 of band) |
| Cash / assets | 16.6% |
| Borrowings / assets | 0.79% |
| Net interest margin | 3.62% (p46 of band) |
| Operating expense / assets | 4.14% (p66 of band) |
| Vehicles % of loans | 48% (p69 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 76% |
| Third-party paper % of net worth | 383% (p97 of band) |
| Vehicle delinquency | 1.97% (p91 of band) |
| Vehicle NCO | 0.72% (p62 of band) |
| Repossessed % of vehicle book | 0.00% (p32 of band) |
| Real estate % of loans | 34% |
| Credit cards % of loans | 4% |
| Unsecured % of loans | 7% |
| Commercial % of net worth | 25% |
| Core shares % of member funds | 53% |
| Certificates % of member funds | 18% |
| Average share balance | $6,527 |
| Participations bought / yr | $4.4M |
| Participations sold / yr | $0 |
| Participations outstanding | $4.0M |
| Loans outstanding per 100 members | 50% |
| Loans granted per 100 members, annualized | 21% |
| Average loan balance | $17,186 |
| Loans granted, annualized | $52.6M |

## Participation posture (from the same filings)

Bought $4.4M and sold $0 in the latest annualized quarter; $4.0M outstanding purchased (40.8% of net worth), $0 sold and retained. Sold in 0 and bought in 8 of the last 8 quarters. Shares 2.4% year over year.

## Flags firing in the latest filing

- **thin capital** (`cap_low`)
- **net worth falling** (`cap_falling`)
- **delinquency 2x band** (`aq_dq_high`)
- **members leaving** (`shrink_members`)
- **3rd-party paper>100% NW** (`str_thirdparty`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 2 | thin capital, leaning on borrowings |  |
| 2016-06 | 2 |  |  |
| 2016-09 | 2 |  |  |
| 2016-12 | 2 |  |  |
| 2017-03 | 4 | net worth falling, 3rd-party paper>100% NW |  |
| 2017-06 | 3 |  | net worth falling |
| 2017-09 | 5 | delinquency rising, members leaving |  |
| 2017-12 | 6 | delinquency 2x band, assets shrinking | members leaving |
| 2018-03 | 6 |  |  |
| 2018-06 | 3 |  | thin capital, delinquency rising, delinquency 2x band |
| 2018-09 | 3 |  |  |
| 2018-12 | 3 |  |  |
| 2019-03 | 6 | losing money, expense trap, delinquency 2x band |  |
| 2019-06 | 3 |  | assets shrinking, expense trap, delinquency 2x band |
| 2019-09 | 4 | delinquency 2x band, delinquency rising | losing money |
| 2019-12 | 3 |  | delinquency rising |
| 2020-03 | 6 | thin capital, net worth falling, losing money |  |
| 2020-06 | 7 | delinquency rising |  |
| 2020-09 | 4 |  | net worth falling, losing money, delinquency rising |
| 2020-12 | 3 |  | leaning on borrowings |
| 2021-03 | 4 | net worth falling |  |
| 2021-06 | 4 | charge-offs p90 | net worth falling |
| 2021-09 | 4 |  |  |
| 2021-12 | 4 |  |  |
| 2022-03 | 4 | net worth falling | charge-offs p90 |
| 2022-06 | 4 | delinquency rising | net worth falling |
| 2022-09 | 5 | loans>95% of shares, leaning on borrowings | delinquency rising |
| 2022-12 | 7 | net worth falling, delinquency rising |  |
| 2023-03 | 6 |  | net worth falling |
| 2023-06 | 6 |  |  |
| 2023-09 | 7 | assets shrinking |  |
| 2023-12 | 7 |  |  |
| 2024-03 | 6 |  | loans>95% of shares |
| 2024-06 | 5 | net worth falling | delinquency rising, assets shrinking |
| 2024-09 | 6 | losing money, members leaving | leaning on borrowings |
| 2024-12 | 7 | charge-offs p90 |  |
| 2025-03 | 7 | loan book shrinking | losing money |
| 2025-06 | 6 | assets shrinking | net worth falling, loan book shrinking |
| 2025-09 | 5 |  | charge-offs p90 |
| 2025-12 | 4 |  | assets shrinking |
| 2026-03 | 5 | net worth falling |  |

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

- 2020-08-16 [Gordon Frazier Obituary Aug 16, 2020 - Fouts Funeral Home](https://news.google.com/rss/articles/CBMiakFVX3lxTE5jOUZfQlNGSTRUeElMTlQ5aFdpNzZodUtxX3VXa1ljN1E3N3liaWtqZUxKQXhkc0dMRG1JSndIdWo1US1wNHc5VWJSOHpDOUhJVy0tYkZuRVdpM1ZyN01lcU9JaG9BWVBfLUE?oc=5) · Fouts Funeral Home
- 2021-04-20 [Broadcast Information | Storm Chasers - MLB.com](https://news.google.com/rss/articles/CBMiYEFVX3lxTE03S3hMWUE2aUNjbDNiZl9aNXRsUi1UcXB4LW85clJpRlRnX1FDRGs0QWJ5YWRlZzNzUHE1SFU4MWtvRVZGM1JieUtkdEYxM1hfczNJd0Nkd2xyZ2FCTUVaNg?oc=5) · MLB.com
- 2021-04-29 [Listen Live to the Storm Chasers - MLB.com](https://news.google.com/rss/articles/CBMiXkFVX3lxTE41NU1ac2t1M3IwczlLMUZkN0gxQktLczVNeVZ4dTZfUlYwTXVYdVdpV1V4MVNRS0JhalRvWUNOTExEbWw1b3NOa09iVGg0WnJYb19tb3hnS2JDb3I5TXc?oc=5) · MLB.com
- 2021-12-04 [American Family Mutual Insurance $5.7M Total Loss Class Action Settlement - Top Class Actions](https://news.google.com/rss/articles/CBMi4gFBVV95cUxOa2RHc0ZzYW1nLVlWN3VwYWctblpCaFN5SEduR0NLTndhV1M0aGFNR3l6TGhVWGpMNmpWVFVoOFRqYmdqajN0QlpJbHl3WXVsVWpqWHp6LWJUdTQ5Zm8wY2hKR1Zwa3JsUnlfbHhrTTdqc3JRQlJqOF81RHV1Q1g1U25FdWhmWC1CV2htd3FJVjdsQlNxakZ1bXpmMENwdklpcGVrR1dqbmwtUEk2YlROdlM2cVBnNlE5SU80MEo0NDFPZWdLTzRyeXpQbVVoQXk4T20wbmNaNVhLOHpRcVNDd2NR?oc=5) · Top Class Actions

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=24540 (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/28.json (key "24540", 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=24540
- 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