# PUGET SOUND
SEATTLE, WA · NCUA charter 24837 · asset band <$50M · latest filing 2016-03 · stopped filing after 2016-03 (departed; for a credit union that is almost always a merger)
Share link (named URL with a preview card): https://getbookiq.com/cu/puget-sound-24837

Who the members are: federal charter, multiple common bond, organized 1967. 2,162 members of 113,973 potential (1.9% of the field); checking penetration 28% (share draft accounts per 100 members); loans per 100 members 30.

**Verdict on the desk:** this could be *ordinary*. Composite score 2 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $17.2M |
| Members | 2,162 (– YoY) |
| Full-time staff | 5 |
| Net worth | $1.2M |
| Net worth ratio | 7.3% (p6 of band) |
| ROA (annualized) | -0.39% (p16 of band) |
| Total delinquency | 0.73% (p47 of band) |
| Net charge-offs (annualized) | 0.80% (p80 of band) |
| Loans / shares | 61% (p61 of band) |
| Cash / assets | 13.3% |
| Borrowings / assets | 0.00% |
| Net interest margin | 3.28% (p63 of band) |
| Operating expense / assets | 3.79% (p62 of band) |
| Vehicles % of loans | 9% (p8 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 0% |
| Third-party paper % of net worth | 0% (p45 of band) |
| Vehicle delinquency | 2.46% (p84 of band) |
| Vehicle NCO | 0.00% (p35 of band) |
| Repossessed % of vehicle book | 0.00% (p44 of band) |
| Real estate % of loans | 66% |
| Credit cards % of loans | 9% |
| Unsecured % of loans | 17% |
| Commercial % of net worth | 0% |
| Core shares % of member funds | 94% |
| Certificates % of member funds | 0% |
| Average share balance | $5,182 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | – |
| Loans outstanding per 100 members | 30% |
| Loans granted per 100 members, annualized | 4% |
| Average loan balance | $15,253 |
| Loans granted, annualized | $3.6M |

## Flags firing in the latest filing

- **thin capital** (`cap_low`)
- **losing money** (`earn_negative`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 2 | thin capital, losing money |  |

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

- 2026-09-01 [Sound Community Bank CEO reflects on the path from credit union to Nasdaq - The Business Journals](https://news.google.com/rss/articles/CBMinAFBVV95cUxPTDVWUnFId2dFc1QwWDlPdmZfRTl3T1dLWVVnaVpJaTFXU08zUHlRZGVpdFpSVWZ3bnVGcGlSdVBPMElqLXRGTXlrdVRDU05OME9pNEJEU1VKMWk1c0xhQWtrVkRaTUJtamVBV2ZETDlJN1RpdVZaQ293ZC1SVFNEa3lBdF91ZnJZNC0tTjc4OERmMFVjOXZNa0dGaHA?oc=5) · The Business Journals
- 2026-05-29 [Red Canoe Credit Union Donates, Collects Funds for Relief Efforts After Longview Plant Explosion - southsoundmag.com](https://news.google.com/rss/articles/CBMi6wFBVV95cUxNWHhyTXc5RlVtdURmYzB4VHRYMXljNDlNcXhGX0FSWHpPM1FGSVB0MXV4SWlMM05zck42RDQzVmtraEk0RDhoeWV4X1lpdUR0cHlNX2k1THdCTkZ3NzVmc1BYV2V5NHY1andhNWpCOFJzOXlaaUF6SGxneEtad25rdmxOZUJmcVFQXy1rODQ0U21oSEQ5Q0JEUUdrV0I2R1FSR05HUmdMNXVoblhVc1NnWXlNM1FXLVNaQlFDeDgzWS1iWmVYUXZYQXFSaC1LTHUyZGRZSEdIbmI5TDdRY2t2T2M0czZfTFQtVExB?oc=5) · southsoundmag.com
- 2026-08-20 [WSECU names new CEO after nationwide search - The Business Journals](https://news.google.com/rss/articles/CBMipgFBVV95cUxNZnRENjlodS1oTHFTRUtnNFF1cFdXbk1VemF6cVU2N2hTXzJyZnVrVlpLS0RUYW9fanhkdDJ6Y1RsTEY1QjczWHpFb19GVDFkcmUwdnEwUzZxR00xTlhOejUxMmljMHVxOWdydER5QXlNZnJUcV9ZR3lGS3FyQ3J1S1dkY2R4WkhyNElqc1hhUF91OHoyeXJjTlFhRjdta01yeDVJZXR3?oc=5) · The Business Journals
- 2026-05-27 [Kent man convicted after recruiting teens for wave of armed cannabis shop robberies - KOMO](https://news.google.com/rss/articles/CBMivAJBVV95cUxORV9oUGNpWXZITU9kVFl4T3oxUkxlZEpkY1hsNXNxVlYxeXdDNVJIWEZHeWpWM2ZzVzVoVHBkWjNLVDZLSjJXUTJJX0duMkp0RWhEYUZtN3AtOW9XWnNaSDRnT0F0SktYZU56djlSamxzdEZhTWp1OG5Pd3dqTXFNM05BWHZKSTM0VmlUTlEyOUhSa01KbEVPQUR0X2tQU0lQQlJXUW93QVJxTEd5NDlOQmxRaFhEOTdMM0Y3d1BiWi1xVmVIdXV2U3JHWm40QXFvcXJxWUh4cFQxUEtEcEY1djBzLVc2UVIzUTFxUTBrUXNCMWNxaklQZm9tY0t1S01tZ1BhSHRfTFVHM0hFSlZiUGgtS1d6X3pDaVdaVlZhRm5yY2ItMUpyekFJWF8wZ2lEbEYtRXA2RXpQVFda?oc=5) · KOMO
- 2026-08-21 [Washington's Best Workplaces 2026: Harborstone Credit Union - The Business Journals](https://news.google.com/rss/articles/CBMi1gFBVV95cUxQakVfRmVPRXdsaXFnVzA0LW9PMGR3dmxJSGVJRnpmUjVmRWxINHFha2ZJOHlrRUpqa1E3Uk9GbktwLVliNFJsTzNzMFJLUGt0Vl9zV1FnZWIxWnZpUlFlSEs2c3ZDUzNVSDlpSXIxZHBDZ3c0M1NUYVNHZWJ1SDNMa3Bob2g1NGdLYzhvT01md0JCQXV2WDlrRDE1TGMwbzRKaWRXcndTMFlSUlB5NXhpZ3VhcE1yMjQwYUV5QXhFWnRfYWljQkV2bGtJOXZOOUpFR0hQSklR?oc=5) · The Business Journals
- 2024-05-29 [Sound Credit Union Welcomes New Chief Financial Officer - Business Wire](https://news.google.com/rss/articles/CBMisgFBVV95cUxQZjRYbVRoeWNzZHVTZVZsWVZIdzBDakhoeDhvaHdEUjJwMHZKbDY3SHpPb1dPcl9RNVRPaEtzUDJTUHItQVAwOFNkdmpFZExWclJjcDRVMkhvUXN6cUdQZWhwZnRha012M2JOcGVMX1lIYzh0Zml0bk9welVRNlhEY2VhbEIxeFpNWlZ5LW5BUjJIQ2JGa3Axb043VXh2dV9JTmZnMDZ1WXp0OGw2R2RXVE9R?oc=5) · Business Wire
- 2026-09-02 [Sound Credit Union Breaks Ground on New Port Orchard Branch - MyNorthwest.com](https://news.google.com/rss/articles/CBMiowFBVV95cUxPOHY0MlkxWUx2M3B5WFRDR1JDTW1wcno4RV9OeGhrZ29oZHZNTE9yQWhxT0NaTWRvTkI2T0c4dnRFeXIwd2NBaGs3Vm85aGlUMmRFUnl3UlJuOUFYbEVDLUoySGlIeHE4bU5nSjF6U1N0RE0yQlE5WjRsREpHYjZLZTUwWTN0V0E3QzFoaEhvOGRSblpMQXlkbEFvR09uNElFMkVF?oc=5) · MyNorthwest.com
- 2025-10-30 [Resource List for Federal Workers - portseattle.org](https://news.google.com/rss/articles/CBMib0FVX3lxTFB3YkMxc0tRWTMwZFRpV2dQb19jTVptM19jV29JczB6VHlPdGJaaDdnU2pxcWhzdTRadEZQSDdLNjJjeUprNEw0VV81a05ieFZ6QUZ3alBidV84ZHFrbnJqUVFsRHU1ZWNIWUZQNGI1OA?oc=5) · portseattle.org

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=24837 (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/5.json (key "24837", 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=24837
- 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