# SERVICE 1
Muskegon, MI · NCUA charter 4038 · asset band $100-200M · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/service-1-4038

Who the members are: federal charter, multiple common bond, organized 1940, low-income designated. 21,204 members of 627,005 potential (3.4% of the field); checking penetration 56% (share draft accounts per 100 members); loans per 100 members 59.

**Verdict on the desk:** this could be *quiet fade*. 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 | $197.4M |
| Members | 21,204 (-3.0% YoY) |
| Full-time staff | 54 |
| Net worth | $36.1M |
| Net worth ratio | 18.3% (p93 of band) |
| ROA (annualized) | 1.75% (p93 of band) |
| Total delinquency | 0.44% (p37 of band) |
| Net charge-offs (annualized) | 0.55% (p71 of band) |
| Loans / shares | 87% (p86 of band) |
| Cash / assets | 22.6% |
| Borrowings / assets | 0.00% |
| Net interest margin | 4.26% (p82 of band) |
| Operating expense / assets | 4.72% (p82 of band) |
| Vehicles % of loans | 45% (p63 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 20% |
| Third-party paper % of net worth | 55% (p58 of band) |
| Vehicle delinquency | 0.48% (p44 of band) |
| Vehicle NCO | 0.35% (p41 of band) |
| Repossessed % of vehicle book | 0.00% (p32 of band) |
| Real estate % of loans | 31% |
| Credit cards % of loans | 5% |
| Unsecured % of loans | 8% |
| Commercial % of net worth | 0% |
| Core shares % of member funds | 44% |
| Certificates % of member funds | 22% |
| Average share balance | $3,862 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | – |
| Loans outstanding per 100 members | 59% |
| Loans granted per 100 members, annualized | 14% |
| Average loan balance | $11,085 |
| Loans granted, annualized | $47.2M |

## Flags firing in the latest filing

- **delinquency rising** (`aq_dq_rising`)
- **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 | net worth falling |  |
| 2017-06 | 0 |  | net worth falling |
| 2017-09 | 0 |  |  |
| 2017-12 | 0 |  |  |
| 2018-03 | 0 |  |  |
| 2018-06 | 0 |  |  |
| 2018-09 | 0 |  |  |
| 2018-12 | 0 |  |  |
| 2019-03 | 0 |  |  |
| 2019-06 | 1 | delinquency rising |  |
| 2019-09 | 1 |  |  |
| 2019-12 | 1 | net worth falling | delinquency rising |
| 2020-03 | 1 |  |  |
| 2020-06 | 2 | margin squeeze |  |
| 2020-09 | 2 | 3rd-party paper>100% NW | net worth falling |
| 2020-12 | 0 |  | margin squeeze, 3rd-party paper>100% NW |
| 2021-03 | 1 | net worth falling |  |
| 2021-06 | 0 |  | net worth falling |
| 2021-09 | 0 |  |  |
| 2021-12 | 0 |  |  |
| 2022-03 | 0 |  |  |
| 2022-06 | 0 |  |  |
| 2022-09 | 1 | delinquency rising |  |
| 2022-12 | 0 |  | delinquency rising |
| 2023-03 | 1 | delinquency rising |  |
| 2023-06 | 1 |  |  |
| 2023-09 | 1 |  |  |
| 2023-12 | 1 |  |  |
| 2024-03 | 1 |  |  |
| 2024-06 | 1 |  |  |
| 2024-09 | 0 |  | delinquency rising |
| 2024-12 | 0 |  |  |
| 2025-03 | 0 |  |  |
| 2025-06 | 0 |  |  |
| 2025-09 | 1 | expense trap |  |
| 2025-12 | 2 | delinquency rising, assets shrinking | expense trap |
| 2026-03 | 3 | members leaving |  |

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

- 2022-11-17 [Toys for Tots | Here's where you can drop off toys in West Michigan - WZZM13.com](https://news.google.com/rss/articles/CBMi3wFBVV95cUxNWUM3SjdLdHZwY29NcGZPV1hHanlNR1pZaDlpRk9Fa3J6UENwX1VueGYzandBMmtkVnpXclV6R1ZNTlQ5UE80bEVDN1lteGN2VkpGeHdtbWtfTTVGVHRfc3pzYml0Y1FvRTA1Y3VMbWgza1cxajc3a0ViZWxJU29zTF9SNHgydDhoTDN6SEtxazJZSjBQNDRrdmlteEVpWXBnbUt6RFpjMTcxblREZVBqbVR4Nk1mZG0yQmZ0ZWd0dkkzRzZyME9ocmNmb0N5d1VXYXV2UlZHbEFucGE4Z3lZ?oc=5) · WZZM13.com
- 2023-08-31 [Rosalie Cavanaugh Obituary - Westlake Village, CA - Dignity Memorial](https://news.google.com/rss/articles/CBMikwFBVV95cUxOY2dkNS1tcEY1VjlRUENDTTJScDVSQVpwTVlkWVNoSFIzRE0wSUwtUUtQZHFKV0lMSzJMNVUwMk14cFdmY1Y3eGNaWS13b0tsSWhaTEVJeWlEcnE1SkdkRWZnR19vcWlBMHA2ZnFpZF9WZGYtRmZKM2JPYUNTc3kyUkljekh0dDNyMFZXZDd0c2dtdGs?oc=5) · Dignity Memorial
- 2024-09-23 [PNC Bank Personal Loans Review - businessinsider.com](https://news.google.com/rss/articles/CBMimgFBVV95cUxNa1hlXzdmLXd1Y3VXXzFveEFKWkptRVY2bExmbVBkTnBaa3Q3Nk02U3hOQVdRcXVjX3NiMFd2cy1Dd0tTVndZZjJ4Nk9iYzRuSEx3RFhaSlNHTVRCUm9zRkJ4NjVDX092WlRmNFlSRlBVYlNUcVZvTndkQkZwX1FhaFhPZUdOS0RBbVBxQm5YYjEtQTduVVFrVG9B?oc=5) · businessinsider.com

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=4038 (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 "4038", 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=4038
- 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