# LAKES AREA
GRAND RAPIDS, MN · NCUA charter 24663 · asset band <$50M · latest filing 2017-06 · stopped filing after 2017-06 (departed; for a credit union that is almost always a merger)
Share link (named URL with a preview card): https://getbookiq.com/cu/lakes-area-24663

Who the members are: federal charter, multiple common bond, organized 1953. 3,638 members of 45,058 potential (8.1% of the field); checking penetration 39% (share draft accounts per 100 members); loans per 100 members 49.

**Verdict on the desk:** this could be *stressed*. Composite score 8 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $23.2M |
| Members | 3,638 (4.2% YoY) |
| Full-time staff | 5 |
| Net worth | $1.2M |
| Net worth ratio | 5.0% (p1 of band) |
| ROA (annualized) | -2.96% (p3 of band) |
| Total delinquency | 1.54% (p67 of band) |
| Net charge-offs (annualized) | 2.84% (p95 of band) |
| Loans / shares | 82% (p85 of band) |
| Cash / assets | 9.8% |
| Borrowings / assets | 0.00% |
| Net interest margin | 4.93% (p93 of band) |
| Operating expense / assets | 5.09% (p86 of band) |
| Vehicles % of loans | 32% (p22 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 71% |
| Third-party paper % of net worth | 343% (p99 of band) |
| Vehicle delinquency | 1.87% (p78 of band) |
| Vehicle NCO | 4.97% (p98 of band) |
| Repossessed % of vehicle book | 0.26% (p94 of band) |
| Real estate % of loans | 27% |
| Credit cards % of loans | 0% |
| Unsecured % of loans | 6% |
| Commercial % of net worth | 0% |
| Core shares % of member funds | 58% |
| Certificates % of member funds | 15% |
| Average share balance | $3,758 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | – |
| Loans outstanding per 100 members | 49% |
| Loans granted per 100 members, annualized | 10% |
| Average loan balance | $9,847 |
| Loans granted, annualized | $4.3M |

## Flags firing in the latest filing

- **thin capital** (`cap_low`)
- **capital below 7%** (`cap_critical`)
- **net worth falling** (`cap_falling`)
- **losing money** (`earn_negative`)
- **charge-offs p90** (`aq_nco_high`)
- **assets shrinking** (`shrink_assets`)
- **3rd-party paper>100% NW** (`str_thirdparty`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 5 | thin capital, losing money, delinquency 2x band, charge-offs p90, 3rd-party paper>100% NW |  |
| 2016-06 | 6 | capital below 7% | charge-offs p90 |
| 2016-09 | 7 | net worth falling |  |
| 2016-12 | 7 |  |  |
| 2017-03 | 8 | charge-offs p90, repo signal | delinquency 2x band |
| 2017-06 | 8 | assets shrinking | repo signal |

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

- 2020-01-27 [United Savings Credit Union opens Detroit Lakes branch - Detroit Lakes Tribune](https://news.google.com/rss/articles/CBMikwFBVV95cUxNOHlGMVBUVWpGT0FOTVlhM0RKeXF6b0U2THFoLUhmdUM2UFI4SWIxNnVOT2pORWlLM2hIcE1LRzhCekdqVDdOcEJKeGZKV1R6eF9ZbThxSlVOT3FhSnR3SFVRRWtlQldoekJMcXZKeDVZX01NWG01aFMtRE5zdXVJMGdycW1fdDJaNkhSdkQ2QTFmbDg?oc=5) · Detroit Lakes Tribune
- 2020-02-02 [Mid Minnesota Federal Credit Union leadership changes - Brainerd Dispatch](https://news.google.com/rss/articles/CBMiqwFBVV95cUxQSXZaRXg5SngtMm1rdXdzOFBzTW52ekpnblFIczZDZjVES01CcTBvWTQ3T0c5NUIyQVdCaFBfcDFCSm9VQ0kxUExjX1ltdHBPeUc2Wm9UWmdaVzBKQURWUWZZMkRMdEc4dE15aWp4SE91M054OE1xQllBRzVTLTlRSW9VVTZZU2R3QkxHblRYd1JDSXJISC1Id2s3NkE5TmFvem1Vc0VwSXVJSkk?oc=5) · Brainerd Dispatch
- 2022-05-17 [Tanya Finken Obituary May 17, 2022 - Rowe Funeral Home and Cremation Services - rowefuneralhomeandcrematory.com](https://news.google.com/rss/articles/CBMic0FVX3lxTE1QNmRQbVlLbHoxUTNjajhLU0l4YlR2ZVk2eUJ6YmlqX1dvbzVLNDZwRjhTUVRJRW1rLU5pZHFXWlRqU0FJbFdkQjJkZXpoQmpib3JTY0YtalZjUmRSUnl6bjdXTXhYakszWkZMWlFPX2tKanc?oc=5) · rowefuneralhomeandcrematory.com
- 2025-05-24 [Firefly Speech and Language Therapy wins Pot of Gold - Alexandria Echo Press](https://news.google.com/rss/articles/CBMiiwFBVV95cUxPLUwyU1V3cDhNZnZGMkZrWTI4WVA3RFhheGdfcWROWFBYcTlLQXY5R05QMlBxNmQyRVRuMTZVcWtCVDJRRFNMSVlFeGdHSDlCU29FTmhtd1FDTTRTSEdxRDhLaW1fdU9oWXp1bm5zcloyUHIyYmxPRmNEWUpZeDBqaHNwYVpCQ0t4cmx3?oc=5) · Alexandria Echo Press
- 2014-04-07 [Free paper shredding events throughout Twin Cities in April, May - Star Tribune](https://news.google.com/rss/articles/CBMiowFBVV95cUxPanByNkhCeVAyS3VlZ3dLU2tWZ09XLW1sdkhTU0hhYWNYdVA0TlB4ajVjcXV1SVUtRW9BOVZNeV9fa2luNEVkRUdNMzZQLW5VdTZoSjVTSVp0Q29hNE8xVnY5dGlTUDVNWlJEZ2hiQjBOZTNudlpLbzdrT1hOZ1V4V1FFQ2dtQUh5MldlX19FSzhDOHJsS2lsZlN0VXA3UjVnRG5z?oc=5) · Star Tribune
- 2025-05-19 [Free tech recycling event set June 10 - Brainerd Dispatch](https://news.google.com/rss/articles/CBMiiAFBVV95cUxNeGR1V2RkV0o0aTVyTGhxMVBCMUtuVTJpbzB6X0ZWODFZOVRwaG52MDZKLV9ndTloMWNWV080VUcwTzBSa3RIZHdmaDdyTDZ1SW11aE9OcWI4OW1XZXVBeUt4MWhvVk9XTk5HQUxVaEhDYnhyS1phUnd2czlobkpxaGtBSHJXc3BD?oc=5) · Brainerd Dispatch
- 2019-02-06 [MMFCU in DL has new Home Loan Consultant - Detroit Lakes Tribune](https://news.google.com/rss/articles/CBMigAFBVV95cUxPMGIzM19YZldPRDBmdS1pb253dmZLN3RoaDZtdWM5YmJ6NTVEWkdkTDg0SU10aXpvM29tUEZLcG5MejF3Qkk1ancyRU1GdjhxSjd5WEo0SUpLQTdob3FGRk0weVhKazEwRFJSRHhrTEFUZTJQZVJjN21IbGhhNUtNUQ?oc=5) · Detroit Lakes Tribune
- 2026-08-07 [Brian and Deb Thuringer win 2026 Business Legacy Award - Brainerd Dispatch](https://news.google.com/rss/articles/CBMinwFBVV95cUxNMGpCcDFNMDBRbFZ2MkgtWkpxQmpPeEx0M0pjdHhXaFRTR0otVHdvc1FvTUgtSGVjbVVudVcyc3h0b3V1X2NUbW5fRWxyNllCRWlxX0tmOGZOSzU2SldEVXQ4OVVvWXcyeDVtWE9fSVNiQk1OcjB6MDFhZUVBS1l4blI1eUppZThWZXkzYVFJbzZobkhKWmctaHR5QkI0OFU?oc=5) · Brainerd Dispatch

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=24663 (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/23.json (key "24663", 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=24663
- 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