# ABERDEEN PROVING GROUND
ABERDEEN, MD · NCUA charter 2540 · asset band $1-10B · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/aberdeen-proving-ground-2540

Who the members are: federal charter, community charter, organized 1938. 184,732 members of 1,779,156 potential (10.4% of the field); checking penetration 41% (share draft accounts per 100 members); loans per 100 members 52.

**Verdict on the desk:** this could be *indirect buyer*. 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 | $2.65B |
| Members | 184,732 (7.5% YoY) |
| Full-time staff | 419 |
| Net worth | $240.0M |
| Net worth ratio | 9.1% (p16 of band) |
| ROA (annualized) | 0.48% (p29 of band) |
| Total delinquency | 0.46% (p33 of band) |
| Net charge-offs (annualized) | 0.79% (p76 of band) |
| Loans / shares | 95% (p79 of band) |
| Cash / assets | 6.6% |
| Borrowings / assets | 0.00% |
| Net interest margin | 3.95% (p88 of band) |
| Operating expense / assets | 3.79% (p78 of band) |
| Vehicles % of loans | 43% (p82 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 88% |
| Third-party paper % of net worth | 390% (p94 of band) |
| Vehicle delinquency | 0.41% (p28 of band) |
| Vehicle NCO | 0.68% (p30 of band) |
| Repossessed % of vehicle book | 0.06% (p45 of band) |
| Real estate % of loans | 32% |
| Credit cards % of loans | 8% |
| Unsecured % of loans | 16% |
| Commercial % of net worth | 14% |
| Core shares % of member funds | 52% |
| Certificates % of member funds | 35% |
| Average share balance | $8,280 |
| Participations bought / yr | $166.6M |
| Participations sold / yr | $0 |
| Participations outstanding | $41.2M |
| Loans outstanding per 100 members | 52% |
| Loans granted per 100 members, annualized | 12% |
| Average loan balance | $23,572 |
| Loans granted, annualized | $890.6M |

## Participation posture (from the same filings)

Bought $166.6M and sold $0 in the latest annualized quarter; $41.2M outstanding purchased (17.2% of net worth), $0 sold and retained. Sold in 0 and bought in 1 of the last 8 quarters. Shares 9.8% year over year.

## Flags firing in the latest filing

- **net worth falling** (`cap_falling`)
- **3rd-party paper>100% NW** (`str_thirdparty`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 2 | charge-offs p90, 3rd-party paper>100% NW |  |
| 2016-06 | 1 |  | charge-offs p90 |
| 2016-09 | 1 |  |  |
| 2016-12 | 1 |  |  |
| 2017-03 | 2 | charge-offs p90 |  |
| 2017-06 | 2 |  |  |
| 2017-09 | 3 | loans>95% of shares |  |
| 2017-12 | 2 |  | charge-offs p90 |
| 2018-03 | 1 |  | loans>95% of shares |
| 2018-06 | 2 | loans>95% of shares |  |
| 2018-09 | 2 |  |  |
| 2018-12 | 2 |  |  |
| 2019-03 | 2 | net worth falling | loans>95% of shares |
| 2019-06 | 2 | loans>95% of shares | net worth falling |
| 2019-09 | 2 |  |  |
| 2019-12 | 2 |  |  |
| 2020-03 | 2 | net worth falling | loans>95% of shares |
| 2020-06 | 2 |  |  |
| 2020-09 | 3 | margin squeeze |  |
| 2020-12 | 4 | thin capital |  |
| 2021-03 | 4 |  |  |
| 2021-06 | 5 | charge-offs p90 |  |
| 2021-09 | 2 |  | net worth falling, margin squeeze, charge-offs p90 |
| 2021-12 | 2 |  |  |
| 2022-03 | 2 |  |  |
| 2022-06 | 2 |  |  |
| 2022-09 | 2 |  |  |
| 2022-12 | 2 |  |  |
| 2023-03 | 2 |  |  |
| 2023-06 | 3 | delinquency rising |  |
| 2023-09 | 3 |  |  |
| 2023-12 | 4 | net worth falling |  |
| 2024-03 | 3 |  | delinquency rising |
| 2024-06 | 2 |  | net worth falling |
| 2024-09 | 2 |  |  |
| 2024-12 | 1 |  | thin capital |
| 2025-03 | 2 | thin capital |  |
| 2025-06 | 3 | net worth falling |  |
| 2025-09 | 1 |  | thin capital, net worth falling |
| 2025-12 | 1 |  |  |
| 2026-03 | 2 | net worth falling |  |

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

- 2026-03-30 [Aberdeen Proving Ground FCU to Move Into Baltimore - CUTimes](https://news.google.com/rss/articles/CBMijwFBVV95cUxPcmNuUHhxV3pZYU8wbURDeG1GQTFJUWdKc0R6STJ6UkVGMmNEWE56RWlBWURuOW81ZHl5V2ZXT1NuUTJZY3JEN084b0RJcU04NE9YcWVIRE1HeWpMeElGUzdPVWNSN2oxTVBOR2FJdWlaelNTcGd1WkJuS29Ud29sQnVsYWQ4b3JsRDhVM2VyZw?oc=5) · CUTimes
- 2026-03-23 [Credit union snags former Starbucks site for its first city branch - The Business Journals](https://news.google.com/rss/articles/CBMimAFBVV95cUxORmhHS3gtVUdQa2pna212RGJDOWtJbjNVNDJsel9YRWtBdmQ3d2h1UTZPcVdEZGNjZ2ZQX0FRdDY2UnQ4YXlhRnlqMEhFdGJXRzd3Z3g2LWdzNTRGSEZLd2pWYmVmOWdQSHZIMGtTaEU1S1gya2JFRjFzT3IxcUhqVHdSVUkwQWZoUUxzekxkQ0hJMFBoTUtxXw?oc=5) · The Business Journals
- 2026-01-09 [Faces to Watch 2026: Credit union CEO plots county, city expansion - The Business Journals](https://news.google.com/rss/articles/CBMingFBVV95cUxQeW01SGltRmdxZmNpUll1Vm1Ea0w4NmVxTnV1Q203blhWWEtIa3BjMnA5U1M1aFlBTFoyNmRmQWo2VXZfR2VLN2IxQms5Z1lHN0lWenRmMzJhQUJPVXJKTVVzSE9MaW5FWFpCRVFBVHo1Mks3M1BZdFNQMlFJdlFQNnJyazVRNE9odVplWl9WTGZYcDFCRjkzR242c0NEQQ?oc=5) · The Business Journals
- 2024-07-31 [Chuck Kelly - Maryland Daily Record](https://news.google.com/rss/articles/CBMiX0FVX3lxTFBlR3EzNUN5RENkMHNJTmlKelk5NXI2RlByb3JWWEtpN2lZbEc3cE9vNEdnTjNFb3VqaDI4c2lacXJ3T1hXRXZNWlVYeGRSeTJJYkhVMlZlbWxJN3F2ODlN?oc=5) · Maryland Daily Record
- 2022-06-30 [DON W. LEWIS - Maryland Daily Record](https://news.google.com/rss/articles/CBMiX0FVX3lxTE5Ua2xhTjl3cW9PUElYSDF6RDhCRkE3N3JMM2RWd0pna3hVZTJJM25XTjhnaFREVGVXUzdSckFCY1hGNThfdEZYSWN3RFpSR2ozUWFiWk45UXJucjB6X2lj?oc=5) · Maryland Daily Record
- 2025-09-02 [Baltimore County credit union shut down after 50 years, taken over - The Business Journals](https://news.google.com/rss/articles/CBMipAFBVV95cUxQWjNBVUR5aUVReGEydTFUNTBQZG1adWhjZzJ0alE5bTlWc2ZKYWVyU3JDRDA2cllPdFhHSFQ5cmI4cU1OUEtsVEw4RnhKSnVsanpmTlNQdXhsWTRLdHA0dzF3dTVzbDJFeTRkV2RkNlRBMUlCTGNwaHFyaFNVckpCdWxIczRxNmpOeFhydkVLanVvX2wtektWNXBId2xzQXBTUERMcQ?oc=5) · The Business Journals
- 2019-11-19 [The Arc Northern Chesapeake Region elects five new board members - NottinghamMD.com](https://news.google.com/rss/articles/CBMiowFBVV95cUxNdXdXV0FQVDFrLWZKX1Uta2tqUE5kQkpVd3dadVp1VE4tRUlGZWlwdGZyNHM2cWIwbDVkTGZ1Y0sxZzNfeGpMNWlPVlVHUmw5blIyaGRqMnJKcTBuUmZoQklTMTdpMC1oRk1FelRGRHN1US1VazZ6TDZPcy1CQmFDUkJna1BkQXJmenltVGJwWDN1LVNFV3MxVWpiNFh5eTVfY1p3?oc=5) · NottinghamMD.com
- 2022-03-30 [Aberdeen Proving Ground Federal Credit Union expands presence in Greater Baltimore - The Business Journals](https://news.google.com/rss/articles/CBMimgFBVV95cUxOMXVoM3BEd3NJdUNkQl8xcWduUVViUEhUVmNLMzVVUUktOFZheThlMWdkSm5mWjBJZjJoRHp5ZDVGRTNubGtLa1dLd0E2ZWZjYktvdEJHam84SGVadElDV0Jyd2pCVEc3U1dWaVlpQnpuU0NPdC1SX3g3WnNhSUxuVUZ1OFFBa2xhM09KMW1CN0JLMWNITjdDV3N3?oc=5) · The Business Journals

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=2540 (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/44.json (key "2540", 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=2540
- 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.

---
Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide