# HERCULES FIRST
SALT LAKE CITY, UT · NCUA charter 24902 · asset band $100-200M · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/hercules-first-24902

Who the members are: federal charter, community charter, organized 1973, low-income designated. 8,725 members of 2,400,000 potential (0.4% of the field); checking penetration 37% (share draft accounts per 100 members); loans per 100 members 49.

**Verdict on the desk:** this could be *indirect buyer*. 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 | $164.4M |
| Members | 8,725 (-0.2% YoY) |
| Full-time staff | 25 |
| Net worth | $15.6M |
| Net worth ratio | 9.5% (p20 of band) |
| ROA (annualized) | 0.49% (p37 of band) |
| Total delinquency | 0.85% (p66 of band) |
| Net charge-offs (annualized) | 0.43% (p60 of band) |
| Loans / shares | 99% (p98 of band) |
| Cash / assets | 3.6% |
| Borrowings / assets | 4.87% |
| Net interest margin | 2.80% (p8 of band) |
| Operating expense / assets | 2.72% (p19 of band) |
| Vehicles % of loans | 38% (p52 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 75% |
| Third-party paper % of net worth | 255% (p92 of band) |
| Vehicle delinquency | 1.40% (p83 of band) |
| Vehicle NCO | 0.93% (p71 of band) |
| Repossessed % of vehicle book | 0.33% (p91 of band) |
| Real estate % of loans | 50% |
| Credit cards % of loans | 2% |
| Unsecured % of loans | 3% |
| Commercial % of net worth | 57% |
| Core shares % of member funds | 42% |
| Certificates % of member funds | 24% |
| Average share balance | $9,546 |
| Participations bought / yr | $0 |
| Participations sold / yr | $32.3M |
| Participations outstanding | $2.5M |
| Loans outstanding per 100 members | 49% |
| Loans granted per 100 members, annualized | 13% |
| Average loan balance | $31,974 |
| Loans granted, annualized | $83.2M |

## Participation posture (from the same filings)

Bought $0 and sold $32.3M in the latest annualized quarter; $2.5M outstanding purchased (16.2% of net worth), $914,117 sold and retained. Sold in 2 and bought in 0 of the last 8 quarters. Shares 2.2% year over year.

## Flags firing in the latest filing

- **delinquency rising** (`aq_dq_rising`)
- **loans>95% of shares** (`str_ltos`)
- **3rd-party paper>100% NW** (`str_thirdparty`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2018-06 | 1 | 3rd-party paper>100% NW |  |
| 2018-09 | 1 |  |  |
| 2018-12 | 2 | net worth falling |  |
| 2019-03 | 1 |  | net worth falling |
| 2019-06 | 1 |  |  |
| 2019-09 | 2 | members leaving |  |
| 2019-12 | 3 | net worth falling |  |
| 2020-03 | 3 |  |  |
| 2020-06 | 4 | delinquency rising |  |
| 2020-09 | 1 |  | 3rd-party paper>100% NW, net worth falling, delinquency rising |
| 2020-12 | 1 |  |  |
| 2021-03 | 3 | net worth falling, margin squeeze |  |
| 2021-06 | 2 |  | margin squeeze |
| 2021-09 | 1 |  | net worth falling |
| 2021-12 | 1 | 3rd-party paper>100% NW | members leaving |
| 2022-03 | 3 | thin capital, net worth falling |  |
| 2022-06 | 5 | loans>95% of shares, leaning on borrowings |  |
| 2022-09 | 5 | delinquency rising | net worth falling |
| 2022-12 | 5 |  |  |
| 2023-03 | 5 |  |  |
| 2023-06 | 5 |  |  |
| 2023-09 | 5 |  |  |
| 2023-12 | 5 |  |  |
| 2024-03 | 6 | repo signal |  |
| 2024-06 | 5 |  | repo signal |
| 2024-09 | 5 |  |  |
| 2024-12 | 5 |  |  |
| 2025-03 | 4 |  | delinquency rising |
| 2025-06 | 4 |  |  |
| 2025-09 | 3 |  | thin capital |
| 2025-12 | 4 | delinquency rising |  |
| 2026-03 | 3 |  | leaning on borrowings |

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

- 2026-07-07 [Smart Spending, Simple Rewards: Hercules First Federal Credit Union Visa Credit Card Advantage - ABC4 Utah](https://news.google.com/rss/articles/CBMiyAFBVV95cUxOWjg4TVdwRVctbDk5OHVJOV9NbjB4NC1pbjYyamQ1Yk9xeWQtMWRPdWtJS3JaRGR2Z0RNUGxZY2FldUFLNVczWU1Ra2dzT2hLYTBaSWRZZ2RMQ3RiaHk0a2ZMSEFFS2FJclJXYmp0LTBoMDY4Q2VRckxZZFNpRXpFTHdIRVhNYWRSS0Q3RlFQUmNIRU1DN3V2b2lGcFJQa3RZWXV6YmROZVhQZ1pRZndhTG1Ib1lnUnI0eDhxSEw0VmNqVW9ZZmFNbw?oc=5) · ABC4 Utah
- 2026-04-27 [Hercules First Federal Credit Union Helps Families Grow Money Skills - ABC4 Utah](https://news.google.com/rss/articles/CBMiqAFBVV95cUxQMFdEOGVZREFtSFc3NllhaG1Ecy16OUd6bFBrZkszOUtSTmJrblJrQ0tVZVNhaDc0azMyS09kSDhRRElQSldiMXE3MVZFc29URUVpaTBkckdENmxzT1FPX2VBaXBFVGdMN3dHa3pTUDVRNm8wT2cwZWRyT1VqY3dmTzlkTFYzUF91bVhOVkVvbFlHQVRFUUEybEw0VTQzckI3a0pERy03WEQ?oc=5) · ABC4 Utah
- 2026-06-22 [More people are looking at Hercules First Federal Credit Union for banking - ABC4 Utah](https://news.google.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?oc=5) · ABC4 Utah
- 2026-08-12 [Hercules First Federal Credit Union Money as part of back-to-school learning - ABC4 Utah](https://news.google.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?oc=5) · ABC4 Utah
- 2026-05-22 [Hercules First Federal Credit Union - ABC4 Utah](https://news.google.com/rss/articles/CBMifEFVX3lxTFBEb0RVeElVUmRkcEY3Y0NNc2NJeEttMUptYUQ2dDBLQ0ZjdlhnazBFZ0ZZOFBKOFJ5V0NCSERnMlZjX01SSmtiRjRINnBJZmgzMzRYVk12QUlzWGlrNVgtTGVXWk5kdnJQbFI3ZXJTdmFPYzFEdE81ZGh4eUI?oc=5) · ABC4 Utah
- 2026-02-20 [Hercules First Federal Credit Union and Smarter Everyday Banking - ABC4 Utah](https://news.google.com/rss/articles/CBMiowFBVV95cUxPTGE4TzZUUFVxWG03Y1VjdkFiMEo5LUpPaWlMWVdVVm9naTNtMTJfSmdaR0ZUSGc2azFRM2R1VzBfaFF4UW4xdjNqRWJpNnBpUnQzYWd2ZnRzZkdHSmoyWnNYRzdlc2ZTdDg0VVZ6X1kzbm0tWlpUVEZiMkNaSEVidUlvQ1NhOWlJS0xWNG5FZDZxYlVuSC14aVJOQWlmeTVjendj?oc=5) · ABC4 Utah
- 2026-03-27 [Hercules First Federal Credit Union’s 0% Down Mortgage - ABC4 Utah](https://news.google.com/rss/articles/CBMinwFBVV95cUxPUGxDdkJnMEJDWEdzT0R4Zk1aN2VtN0hWX1hJcnptV0tsaHl6UHVHalVJSXdSdHdfZkxNam1JVnhKNHp2cTh6dVJsS2k2V0RIOWJoSHpJUVNfRXBQR3NSbURINXZIMl9iWmZhTnRRX3V5djh6Rk45MWFZLWJWdVZTam1GcWNhaG9vekhhRVV2ZEF2TW1hSTBBUjhEUEdPR3c?oc=5) · ABC4 Utah
- 2026-04-27 [Hercules First Federal Credit Union empowers and nurtures financially healthy families - ABC4 Utah](https://news.google.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?oc=5) · ABC4 Utah

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=24902 (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/6.json (key "24902", 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=24902
- 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