# SOUND
Norwalk, CT · NCUA charter 24705 · asset band $100-200M · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/sound-24705

Who the members are: federal charter, community charter, organized 1953, low-income designated. 8,361 members of 2,019,141 potential (0.4% of the field); checking penetration 50% (share draft accounts per 100 members); loans per 100 members 71.

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

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $116.1M |
| Members | 8,361 (-6.4% YoY) |
| Full-time staff | 24 |
| Net worth | $7.9M |
| Net worth ratio | 6.8% (p1 of band) |
| ROA (annualized) | -0.08% (p8 of band) |
| Total delinquency | 0.46% (p38 of band) |
| Net charge-offs (annualized) | 0.31% (p46 of band) |
| Loans / shares | 84% (p80 of band) |
| Cash / assets | 4.1% |
| Borrowings / assets | 0.00% |
| Net interest margin | 4.32% (p84 of band) |
| Operating expense / assets | 5.23% (p90 of band) |
| Vehicles % of loans | 20% (p21 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 0% |
| Third-party paper % of net worth | 0% (p16 of band) |
| Vehicle delinquency | 0.46% (p42 of band) |
| Vehicle NCO | 0.14% (p24 of band) |
| Repossessed % of vehicle book | 0.00% (p32 of band) |
| Real estate % of loans | 68% |
| Credit cards % of loans | 5% |
| Unsecured % of loans | 8% |
| Commercial % of net worth | 46% |
| Core shares % of member funds | 69% |
| Certificates % of member funds | 21% |
| Average share balance | $7,234 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | $942,632 |
| Loans outstanding per 100 members | 71% |
| Loans granted per 100 members, annualized | 3% |
| Average loan balance | $15,135 |
| Loans granted, annualized | $21.1M |

## Participation posture (from the same filings)

Bought $0 and sold $0 in the latest annualized quarter; $942,632 outstanding purchased (11.9% of net worth), $0 sold and retained. Sold in 0 and bought in 0 of the last 8 quarters. Shares -6.1% year over year.

## Flags firing in the latest filing

- **thin capital** (`cap_low`)
- **capital below 7%** (`cap_critical`)
- **losing money** (`earn_negative`)
- **expense trap** (`earn_opex`)
- **assets shrinking** (`shrink_assets`)
- **members leaving** (`shrink_members`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 0 |  |  |
| 2016-06 | 0 |  |  |
| 2016-09 | 0 |  |  |
| 2016-12 | 0 |  |  |
| 2017-03 | 1 | delinquency rising |  |
| 2017-06 | 0 |  | delinquency rising |
| 2017-09 | 1 | delinquency rising |  |
| 2017-12 | 3 | delinquency 2x band, assets shrinking |  |
| 2018-03 | 1 |  | delinquency rising, assets shrinking |
| 2018-06 | 3 | net worth falling, delinquency rising |  |
| 2018-09 | 2 | leaning on borrowings | delinquency 2x band, delinquency rising |
| 2018-12 | 0 |  | net worth falling, leaning on borrowings |
| 2019-03 | 0 |  |  |
| 2019-06 | 1 | net worth falling |  |
| 2019-09 | 0 |  | net worth falling |
| 2019-12 | 0 |  |  |
| 2020-03 | 0 |  |  |
| 2020-06 | 2 | net worth falling, margin squeeze |  |
| 2020-09 | 0 |  | net worth falling, margin squeeze |
| 2020-12 | 1 | margin squeeze |  |
| 2021-03 | 1 | net worth falling | margin squeeze |
| 2021-06 | 0 |  | net worth falling |
| 2021-09 | 1 | delinquency rising |  |
| 2021-12 | 1 | net worth falling | delinquency rising |
| 2022-03 | 3 | thin capital, expense trap |  |
| 2022-06 | 3 |  |  |
| 2022-09 | 2 |  | net worth falling |
| 2022-12 | 2 | delinquency rising | expense trap |
| 2023-03 | 3 | net worth falling, expense trap | delinquency rising |
| 2023-06 | 3 | delinquency rising | net worth falling |
| 2023-09 | 5 | delinquency 2x band, leaning on borrowings |  |
| 2023-12 | 5 |  |  |
| 2024-03 | 9 | capital below 7%, losing money, margin squeeze |  |
| 2024-06 | 9 | net worth falling | leaning on borrowings |
| 2024-09 | 8 | charge-offs p90, assets shrinking | delinquency rising, delinquency 2x band, margin squeeze |
| 2024-12 | 8 |  |  |
| 2025-03 | 6 |  | expense trap, charge-offs p90 |
| 2025-06 | 3 |  | losing money, net worth falling, assets shrinking |
| 2025-09 | 6 | delinquency rising, assets shrinking, members leaving |  |
| 2025-12 | 5 |  | delinquency rising |
| 2026-03 | 7 | losing money, expense trap |  |

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

- 2026-01-19 [Sound Credit Union planning new branch in Port Orchard - Kitsap Sun](https://news.google.com/rss/articles/CBMirgFBVV95cUxNb3pPcGdqdzJPQWtVN2lndGljMVp0OHU4M0RnMW9HLWRQSGxCLW5uRkpLeWNxSjZMdTZoRGt4ZGpwLW5rSDdLSXc3U0VJWXhkdlA3bkxEWlJXRWlCdlJTNnU2VHFDOFQ4SGRQbzNnZl9MeWlILXZ3XzJpT3c2V2NZcnd3bnBQNU1OLVg3NkRXUE92aV9xTkUzbXFpTDZvZzZFcGM5ZVJ1VXV0Mnc5d2c?oc=5) · Kitsap Sun
- 2026-06-30 [State orders CT credit union to fix years of governance lapses - hartfordbusiness.com](https://news.google.com/rss/articles/CBMiogFBVV95cUxNY005b3oxVXZwUUdObjg1QjRDNERQNzBDZFBXVk9yZE94TXpTQU9rR0Z2ZkhJQ3ZraWFrei1na2xPTkQ2S0pFY3hrc2NuckRqOXpudjRFTVhDdmRkYVA0N2tBdktBb1VpekZoaEZhUldsa1RWUFV3bmpCcDk2QmdTV09CblpUZHlEZk1VNkpYMW9pRU5pVnNmU0IxSktDRWJ3OGc?oc=5) · hartfordbusiness.com
- 2024-10-20 [Former Sound FCU CEO Sues Credit Union Over Firing - cutoday.info](https://news.google.com/rss/articles/CBMikAFBVV95cUxPb0IyUGFoMENyXzR4bVA2VHlpV0VrMkZzUl81a0xzZWdBM2wwRDYyZ0piWHR6SmFCU3VaWTZyeW5nVTJZdUNkSkI5c3BwNEhQTzlEcUZiaDFUSWtjZEg5emktdVJwSFFGRkx2Q3cwcnFpVThEZFhFaTc5ZnJxU2xONTZRbHdLOE9lQ091MHgxNDA?oc=5) · cutoday.info
- 2026-09-07 [CICMG to honour financial sector excellence at 2026 Credit Awards - Business & Financial Times](https://news.google.com/rss/articles/CBMinwFBVV95cUxNTWpVLWpFOHBQcTZBR25VMTRHNEtNMGZsWFNMSFUwcXk2a2JnamNmMnVwS0dqckFYaVNhbVFaTkQ4NnpselFnd29ra2VIVmRqNG1pRHZ5cUV1YTlGa3Vmbm1DWDRsZHZibXYwMkltdFhtZGJvaEZtZjhhaVdYbTBRUWstclE2WjFUak4xZjU1NlpldDdHRHZXcElFbTVyUWs?oc=5) · Business & Financial Times
- 2026-04-23 [From Camelot To Long Island Sound To A Cold One Wherever — New Collectibles Store In Vernon Has It all - Patch](https://news.google.com/rss/articles/CBMiuAFBVV95cUxNYWt2MkRmNExGcUZncDhidHcyZG10bllhdm0zTlBIbmd1Und0cDNQTENMR2pKMmdSdmY5U0FtUnpuX2VzbXFQRk1RdHBhZ0txYlYxeVhGQnFCQzRIQUlmY2RvaEtFZGJrRWthaURpd084WjRzek54Wm1rTUxiWk5lT3ZHdjlLdmUzM3U0bTQ0NVlEelN1SjhEeHlsSGJwSGpqVXIxbDJUaWlBMF9BaE9ZUmdybUVzNmlJ?oc=5) · Patch
- 2026-05-17 [Fans frustrated by abrupt, early end to May 16 Dethklok show at Landmark Live - Milwaukee Journal Sentinel](https://news.google.com/rss/articles/CBMi1AFBVV95cUxNeTRvS1dJZVVqSnF2bms3bXdESGhvenhJQVhFVXFyZGktaXNTUFJxOURJdWlOc3E3ZkZHRjVucWxWcGhvdEFucXVCU25jam4tM3BwOFkxaWJuRXpEN0ppX0xJVHhGQnZVNkUxMVp4T3JjTktpTHFlOFk3M29YMUhHQlBlSGwyRVBLY0JmdHlnbHdHR1ltUWEyNTdvNlU2VWdKUF9JSU5ZXzZ6Y3VWNF9KMThfMVNOeUltT2dvMHZNa1E3SzlmRl9meEFCMVlMTjVMQWdlTw?oc=5) · Milwaukee Journal Sentinel
- 2026-04-02 [East Lyme Police Arrest Three, Including New Rochelle Man, in Sophisticated Bank Fraud Case - Talk of the Sound](https://news.google.com/rss/articles/CBMixwFBVV95cUxQWHJRWTVOZEp3cDJna1RkMnl0MXhLdklNY29DMkVFMTBhR0RLT05XWTItVTRIY0ozZDIybU40UGpMY0lXTDJMWmF6R001Qng3NFM4bTFTM0N4THBWbmZwRXZHUFlXR0RCNzZsWk5qUENfMDRmWDMwcjNyUjBRRUliWmRFZWE2UVNRN1o3SEhxVWpSdHFQTWtVaXpoT08wSDNoRmE3dTJRUXBHcmdTTDBaTVVBalBBV3FuMVY3dmlrVThEVmpSbkE4?oc=5) · Talk of the Sound
- 2025-03-03 [Accounting Firm Wants Out Of Fired Credit Union CEO's Suit - Law360](https://news.google.com/rss/articles/CBMinwFBVV95cUxPUEJNb1JoOFZlSjRlUlRNNUlJMzNJbzZOc0F2M3NQLUtpYVE1dDhHZld3cTh5YjQ0bVVoX1hNMWNkSXAzS2ZTeTFwRWtINTlHT1dMcVd3aTBscWJwdnY1Tk5acEo2WTFJTEpfV2ZDR2E1SEFCTVIzNEQ4ZzN0YzZNUzhrenItZjF2eGE4OVFRMWRQOFBEUURSX0VET2tsVkHSAVZBVV95cUxQcmVnODhldUtmRndGYjlOMVY2THBXcVdrUmxySFJxYWZUVUl6UHItU09WZlFYbkFQLTZNRmVlWGZxaTFjY1U0MWQ2N1BUQ1I5M0Jfd1haZw?oc=5) · Law360

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=24705 (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/1.json (key "24705", 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=24705
- 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