# INOVA
Elkhart, IN · NCUA charter 4968 · asset band $500M-1B · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/inova-4968

Who the members are: federal charter, multiple common bond, organized 1942, low-income designated. 47,671 members of 427,368 potential (11.2% of the field); checking penetration 44% (share draft accounts per 100 members); loans per 100 members 50.

**Verdict on the desk:** this could be *liquidity-tight*. Composite score 4 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $658.1M |
| Members | 47,671 (1.0% YoY) |
| Full-time staff | 129 |
| Net worth | $53.4M |
| Net worth ratio | 8.1% (p9 of band) |
| ROA (annualized) | 0.08% (p8 of band) |
| Total delinquency | 0.97% (p76 of band) |
| Net charge-offs (annualized) | 0.99% (p87 of band) |
| Loans / shares | 114% (p100 of band) |
| Cash / assets | 3.7% |
| Borrowings / assets | 12.16% |
| Net interest margin | 3.38% (p43 of band) |
| Operating expense / assets | 3.54% (p49 of band) |
| Vehicles % of loans | 34% (p61 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 0% |
| Third-party paper % of net worth | 0% (p7 of band) |
| Vehicle delinquency | 2.14% (p96 of band) |
| Vehicle NCO | 2.67% (p93 of band) |
| Repossessed % of vehicle book | 0.17% (p77 of band) |
| Real estate % of loans | 42% |
| Credit cards % of loans | 3% |
| Unsecured % of loans | 4% |
| Commercial % of net worth | 219% |
| Core shares % of member funds | 37% |
| Certificates % of member funds | 36% |
| Average share balance | $6,519 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | $41.7M |
| Loans outstanding per 100 members | 50% |
| Loans granted per 100 members, annualized | 4% |
| Average loan balance | $25,075 |
| Loans granted, annualized | $132.7M |

## Participation posture (from the same filings)

Bought $0 and sold $0 in the latest annualized quarter; $41.7M outstanding purchased (78.1% of net worth), $1.1M sold and retained. Sold in 3 and bought in 4 of the last 8 quarters. Shares -7.5% year over year.

## Flags firing in the latest filing

- **thin capital** (`cap_low`)
- **assets shrinking** (`shrink_assets`)
- **loans>95% of shares** (`str_ltos`)
- **leaning on borrowings** (`str_borrowings`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 3 | thin capital, expense trap, loans>95% of shares |  |
| 2016-06 | 3 |  |  |
| 2016-09 | 3 |  |  |
| 2016-12 | 4 | leaning on borrowings |  |
| 2017-03 | 4 | delinquency 2x band, repo signal | expense trap, leaning on borrowings |
| 2017-06 | 4 | members leaving | delinquency 2x band |
| 2017-09 | 5 | leaning on borrowings |  |
| 2017-12 | 6 | delinquency 2x band |  |
| 2018-03 | 3 |  | repo signal, members leaving, delinquency 2x band |
| 2018-06 | 3 |  |  |
| 2018-09 | 3 |  |  |
| 2018-12 | 3 |  |  |
| 2019-03 | 5 | net worth falling, margin squeeze, repo signal | loans>95% of shares |
| 2019-06 | 3 | loans>95% of shares | net worth falling, margin squeeze, repo signal |
| 2019-09 | 4 | margin squeeze |  |
| 2019-12 | 4 | delinquency 2x band | margin squeeze |
| 2020-03 | 2 |  | leaning on borrowings, delinquency 2x band |
| 2020-06 | 3 | delinquency 2x band |  |
| 2020-09 | 4 | delinquency rising |  |
| 2020-12 | 4 | leaning on borrowings | delinquency rising |
| 2021-03 | 4 | charge-offs p90 | leaning on borrowings |
| 2021-06 | 3 |  | delinquency 2x band |
| 2021-09 | 4 | leaning on borrowings |  |
| 2021-12 | 4 |  |  |
| 2022-03 | 3 |  | charge-offs p90 |
| 2022-06 | 3 |  |  |
| 2022-09 | 4 | net worth falling |  |
| 2022-12 | 4 |  |  |
| 2023-03 | 4 | delinquency rising | net worth falling |
| 2023-06 | 4 |  |  |
| 2023-09 | 3 |  | delinquency rising |
| 2023-12 | 5 | net worth falling, delinquency rising |  |
| 2024-03 | 7 | delinquency 2x band, repo signal |  |
| 2024-06 | 6 |  | net worth falling |
| 2024-09 | 5 |  | repo signal |
| 2024-12 | 4 | assets shrinking | delinquency rising, delinquency 2x band |
| 2025-03 | 5 | losing money |  |
| 2025-06 | 5 |  |  |
| 2025-09 | 6 | charge-offs p90 |  |
| 2025-12 | 6 |  |  |
| 2026-03 | 4 |  | losing money, charge-offs p90 |

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

- 2026-09-03 [INOVA Federal launching free training program for local entrepreneurs - WNDU](https://news.google.com/rss/articles/CBMinwFBVV95cUxPTUVJZTFPclY2MUVOczJiTC1UcVhYMzNDbXlIM25TVWZKNGRoWEZteUZrNnVnNk9UNnFpUU4xNzBsdkFMYnBHeXFOVjF0Z0czSUJNVmF3WjVxc1lpUm95QWFmb0RzTS10MmJ3ZW85Rm90NzVsV3lkLW8xbVlUSUhDRHMzLWNWTTlEOEw0NGhTLVY5eUk0V3piVzlNRmxYNHPSAbMBQVVfeXFMTmlmQzk4TmNuZWpSdk5rVVJzaDFscGhNR1FXdFptLUMxZmlkQmhsR09Pb1JyNmEtRG93eWJBdzJ5Z0VTVGhwb1R4ODVxZkFkb0ZwdDBFekJyWUY5ZXlYMmF5NnYwZWVWSXpGTGp0WFlOSWdkNWdKOFJGRGFTLVlCNXdoVlZnTUl6TkhCbVR0ZmF3cEpaVzZhVFk2bTBhRWVjUWg4TG1oQXZnODhlSmt4bllyYjA?oc=5) · WNDU
- 2026-02-02 [Fort Financial, INOVA credit unions merger nixed after membership vote - journalgazette.net](https://news.google.com/rss/articles/CBMi8AFBVV95cUxQN3lxTTI1VjlSQ2VrdGFFR2xaRG1QelhEWm5CM1dfNG94R1dBNDdNaERXSjVpNEdieDNfT1d5N2VmWlRNR1VxaTRLTEh2Yjc1NWlFeDdsdjF2YmMtQUxiaGFhTTRtSHlNR0Z5X1dFaFFSLUN6d25WVVB5Qnc5SHNFZUJKOGMtZHNETVVBU1pCZWdMam1RWEpHMUE3NTRGVTdQUzZEMEtfSmV4UTJVdjB4dEROSEtodUdOSWpoMzdaRG9kUUVQam4xT3FTaGVnMU1VUjRCQ1EwaDdreGVKRzVxN3NEQ0FtbkIxWTM1ZnlDZVE?oc=5) · journalgazette.net
- 2026-02-05 [Members Pull the Plug: Fort Financial Votes Down $1B Merger With INOVA - cutoday.info](https://news.google.com/rss/articles/CBMiqAFBVV95cUxOdE80cVhtR1d6RWEzcEVaUEJ0ZUNRTkJ0djB6eWFRVDVnc1JhU0p0QlgwU2pNeHRtVGE0MUtPa2tvanRPV2F6b3MxeUtKYUtGdVNpMk5jS1AwclFTNnVsM2d4RjFfZVJYWWp0SE9lMWllSG9scDRJY0dwRzBlNzF5RzQzT2tHaXlOY1lEd2I4eEJBNlhQc1hlOW5kWkw2Ul9zakhDNUFVX0k?oc=5) · cutoday.info
- 2026-04-08 [INOVA Federal Credit Union shares tips for Financial Literacy Month - WNDU](https://news.google.com/rss/articles/CBMinAFBVV95cUxNLWhJUXl2dGZiV3RjTk9YSlVoT2t0Q29tdnA4ekxtQk9fRmdQQkpxdHRBa2IxOE43S0dfbWZiYkp1MzZiZ3ZPUjVXM0ppMnJfY0xJaW1CMTZtMUcyYTdsMGhVam11aXV0QTdKdEZpUVpFdXZJYVdOYm9MNHNvS0pjTDA2c05YNXlub2VIclp0UDFaQVVydGdyaXJMa2XSAbABQVVfeXFMTnk1SkZkZ3lZakVYT1IyNElnZ2daQThzV3lod3BUUGZlUjNsdk9MNUpKSE5Od0EweUVXeVZMRDBVMkhFOE95VVVPeUJjMV9NWUMteUNwekZ0WllJMktxdzNsMTh2Q2ZXSlI2bGwtUHhFTWJwT19VWmJudmRLVEtoT0lTR21uUldPbUt1bFNqeno3VDg1eFVXcVdfV3d1MFc2QTJsVDlwdGl6QWRZd0RNcTM?oc=5) · WNDU
- 2026-06-19 [INOVA Federal announces planned leadership transition - The Elkhart Truth](https://news.google.com/rss/articles/CBMi2AFBVV95cUxNUHp2U0huNWJYamtxVE9OaUdjYjRDdGlHN1pwd2FpNW1XdjhyaExuMTlLZTEzSk1OdHNPQ0Z0eDRzMVM2bXc5cE5acnFmOV9MQ3R2a2FOQkl6c3dYVFVTLWhSdHNjOEFwcWFQbDlxZmdhcEtuMHFnTEhhU2t0QzF0TGtXWGJNLXBqTnNrNzg1NHJOdDltOUtOQ3lqNHdTT3JQemRXc096MkNxTXBjQzlweE5RbktWc1BlOTh6M0ZlNFpJLUlKeVJDWUVPZVB1QmFQdWFPNDFic3I?oc=5) · The Elkhart Truth
- 2026-07-16 [Four N.S. Credit Unions recommend merger to members - The Laker News](https://news.google.com/rss/articles/CBMie0FVX3lxTE9zRUpwOVVzY2l4WDYzSWUxUmVsdUp1VUVlRXZERXNHUWx5TFU2T2xLZVh5eXl6N2RhVzctZDg1SDZxSDRId256M3l6QWlyT0dDTXFZemM2dXZMWTNkd18yX3NCb2ttUlQ5SGtGQkFlUTlHZFNoMkpUMFJzNA?oc=5) · The Laker News
- 2022-05-11 [Wonder what's in store for the empty lot at Main Street/Mishawaka Avenue? Here's what we know. - South Bend Tribune](https://news.google.com/rss/articles/CBMixwFBVV95cUxNc2NtTDdxSDk1WlBJLV9keVhqUC12YTJ4OVFFdTBWcnUwMHdpZ1V1d1Z2MmpwcjRWNWY0Zm5pWUdmWkNEekZERjJrWXVyWXRfb2hKVGJyMlpQeTZfRkxOZl8zVmt3ZklXVmtkSlZWakhPdDZWME53akhodm1sREROTzhhb3NVcm1mSkZYVTJkdUNveFFBQUYwM3ZSRHRtQ1hBdDNVLWh3VWFjMkYxbVZmclFNa0RMakNXVG5iRUM5aTJ3cHVLeFRF?oc=5) · South Bend Tribune
- 2024-01-10 [Top CD Rates Jan. 10, 2024: Leading 5.75% Offers Hold, While a Runner-Up Evaporates - Investopedia](https://news.google.com/rss/articles/CBMipAFBVV95cUxPRVQ2VWdPRWM3WHVWU0tnLVBtb253M29nUjdreXBnWC1hRHZvb0o2NDVESldMa3ZKT015RVV1RUZQQ3ZLcDRaemhKWGhseHUyMExsNk1XNmo4S2lvT2hacGlUcF9xWEVZaUlMUEFhQmlYOTBZVkxFT3liN0pmMXIyZlgySVFpMmZTb1R3elVHbW5YdEtkcnlzdUpfeFJvRDMzSVBWTA?oc=5) · Investopedia

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=4968 (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/40.json (key "4968", 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=4968
- 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