# SUNWARD
Albuquerque, NM · NCUA charter 5851 · asset band $1-10B · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/sunward-5851

Who the members are: federal charter, multiple common bond, organized 1948, low-income designated. 174,947 members of 2,125,500 potential (8.2% of the field); checking penetration 62% (share draft accounts per 100 members); loans per 100 members 52.

**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 | $4.55B |
| Members | 174,947 (4.4% YoY) |
| Full-time staff | 561 |
| Net worth | $404.3M |
| Net worth ratio | 8.9% (p12 of band) |
| ROA (annualized) | 0.27% (p13 of band) |
| Total delinquency | 0.37% (p24 of band) |
| Net charge-offs (annualized) | 0.47% (p46 of band) |
| Loans / shares | 90% (p62 of band) |
| Cash / assets | 2.9% |
| Borrowings / assets | 17.27% |
| Net interest margin | 2.75% (p17 of band) |
| Operating expense / assets | 2.61% (p20 of band) |
| Vehicles % of loans | 21% (p36 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 87% |
| Third-party paper % of net worth | 138% (p50 of band) |
| Vehicle delinquency | 0.79% (p66 of band) |
| Vehicle NCO | 1.82% (p81 of band) |
| Repossessed % of vehicle book | 0.10% (p59 of band) |
| Real estate % of loans | 47% |
| Credit cards % of loans | 2% |
| Unsecured % of loans | 5% |
| Commercial % of net worth | 191% |
| Core shares % of member funds | 49% |
| Certificates % of member funds | 32% |
| Average share balance | $9,247 |
| Participations bought / yr | $1.1M |
| Participations sold / yr | $0 |
| Participations outstanding | $72.2M |
| Loans outstanding per 100 members | 52% |
| Loans granted per 100 members, annualized | 15% |
| Average loan balance | $33,716 |
| Loans granted, annualized | $1.09B |

## Participation posture (from the same filings)

Bought $1.1M and sold $0 in the latest annualized quarter; $72.2M outstanding purchased (17.9% of net worth), $9.9M sold and retained. Sold in 1 and bought in 8 of the last 8 quarters. Shares 0.7% year over year.

## Flags firing in the latest filing

- **thin capital** (`cap_low`)
- **leaning on borrowings** (`str_borrowings`)
- **3rd-party paper>100% NW** (`str_thirdparty`)

## 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 | 1 | 3rd-party paper>100% NW |  |
| 2017-12 | 1 |  |  |
| 2018-03 | 1 |  |  |
| 2018-06 | 1 |  |  |
| 2018-09 | 1 |  |  |
| 2018-12 | 1 |  |  |
| 2019-03 | 1 |  |  |
| 2019-06 | 1 |  |  |
| 2019-09 | 1 |  |  |
| 2019-12 | 2 | margin squeeze |  |
| 2020-03 | 2 | net worth falling | margin squeeze |
| 2020-06 | 2 |  |  |
| 2020-09 | 2 |  |  |
| 2020-12 | 2 |  |  |
| 2021-03 | 2 |  |  |
| 2021-06 | 1 |  | net worth falling |
| 2021-09 | 1 |  |  |
| 2021-12 | 2 | net worth falling |  |
| 2022-03 | 0 |  | 3rd-party paper>100% NW, net worth falling |
| 2022-06 | 0 |  |  |
| 2022-09 | 1 | 3rd-party paper>100% NW |  |
| 2022-12 | 2 | assets shrinking |  |
| 2023-03 | 2 |  |  |
| 2023-06 | 2 | leaning on borrowings | assets shrinking |
| 2023-09 | 2 |  |  |
| 2023-12 | 3 | delinquency rising |  |
| 2024-03 | 5 | net worth falling, losing money |  |
| 2024-06 | 2 |  | delinquency rising, net worth falling, losing money |
| 2024-09 | 2 |  |  |
| 2024-12 | 2 |  |  |
| 2025-03 | 4 | losing money, delinquency rising |  |
| 2025-06 | 3 | net worth falling | losing money, delinquency rising |
| 2025-09 | 4 | thin capital |  |
| 2025-12 | 4 |  |  |
| 2026-03 | 3 |  | net worth falling |

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

- 2025-03-06 [Sunward completes acquisition of Utah-based credit union’s NM branches - Albuquerque Journal](https://news.google.com/rss/articles/CBMisgFBVV95cUxPUUp4ejF5TmNadmVMYnhHN1JQMG9SeWVOV1hjRjNEbk1TTVVTa2J6Q0ZVUW9JWGdjZ1FDUFpIQUNFMXZxUmlDb2VramJiTHRvcXpGaHh2dnlkYmJvWDFtUUZGZ0Q5eXBxYk1oR3BPYmVSLVRxaU5mZWF1T0RyQmxibmJmQnBRblBIYlVCbHVHdDRsQ2FKQ0o2Y01iQ0JwbVlYbEpFckdxbGF6ejVkLTItWnl3?oc=5) · Albuquerque Journal
- 2025-12-18 [Sunward Federal Credit Union can help with your auto loan - KRQE](https://news.google.com/rss/articles/CBMingFBVV95cUxNMm9LSl9hZ0Jic2lsS1hWLS0zVUQ0eFExQTEtakZYSzFRS3NONWd1T0RyS0FZZWtzU21IY2ZaUm53aXFKbEQyVU1CanNBTkNHVlNiNnBYZk93bVg0M1RUV1ZvTXZuaXZLbXJ2Z0RYRmRKdXBuWGktcE5OdjdhYk1yRlpiSnVUWENaYmxQVlN3a3pZbG5vYzgzYVRsTmtxUdIBowFBVV95cUxPZ2RVS3UxeVRoTDRfUFp3MU82MHgtZlFBZ1BWM214UjdnVlNPQkJac3FRX0Z2MzRaN29xbTMyMFRvR1ZxZVBLNzdlUklHTnBfUk5iNDAtVUxYNnNIVk9KWnZMWEV4VlpJbGFMMmdhWUZIZjVNSzNhYWVDQS1kTjlkcTlSd3lCTldMTW95QUNJdElIUE1GQklxNzVrWndZM2hxN25J?oc=5) · KRQE
- 2026-07-08 [Sunward Federal Credit Union - The Business Journals](https://news.google.com/rss/articles/CBMiqgFBVV95cUxOakZVaDJuQzdyVXRDNmh2eXQ4ajN2bXhwaWk3UDZXS2VkbWUwQ1BwakM2MG4wZVN0Mk52SmJHc3A2XzdhTG1yd0oyVE4zZlItdTgwQi12MVhhV2xyYjJvN0R3eGRRLVRacGZzaWpJc2lURHF3UFRHTW81TTJMRVVmdGxrRUwyLV8ydGNOdHRKLXcxb0xsd2Nab1d1aklsTDZ3bVVNd2xmYXpRUQ?oc=5) · The Business Journals
- 2024-11-12 [Sandia Laboratory Federal Credit Union Undergoes Transformative Rebranding to Become Sunward - GlobeNewswire](https://news.google.com/rss/articles/CBMi9wFBVV95cUxNeDZ6Vlp2RXhXaHlLTm91WjhEaE5pSGVZbEhHWDJYbVl2WnZyLXNlNE91ejFCSkxHOEFNRDRjQWJDSTIyTmdCR1o5dEJBWkpFbG5Ra2N0YmVodUt1TE5BZVh3SnNSUmRfck0zdDF1YmtxZmJUMnpwbTdsckMwVjE3VEotSGEyRDI3RWVHeW5URDYwSGRWMmw4WXBDUmlGYkpGck5XYnZoZTI1azBXdkJDLWVQNUV4YlNVSGZhVGNTeW1WSWJfT1BWcDQxRXNMM1lZMTBhRGZ1cmxlMzljakRyR2o5WFRwTTVzQkVsQWg2QjBmaS1ZTm44?oc=5) · GlobeNewswire
- 2024-11-12 [Credit Unions in New Mexico & Maryland Reveal New Names - CUTimes](https://news.google.com/rss/articles/CBMilAFBVV95cUxQblhZa0lhcUcxR1RXd0MybjBrQ1h3c19YYV9rN3lWaWQzSzBLOTJnYjU2c1FkVDNTaDNqZTVWNnk1YmxwbG5yUGxTV205N1VPcFFwTnpicV81RWxaR09FdWRBZEx1enBmYU5jMXBfc3ItdngtcG9rdXFnMkZ0WXNvaUJSMWpMTDMzS3ZwRFdlT2k0WmlY?oc=5) · CUTimes
- 2024-11-12 [Sandia Laboratory Federal Credit Union to rebrand as 'Sunward' - KRQE](https://news.google.com/rss/articles/CBMingFBVV95cUxQSHd1aW1hRzJlczkwMFBwWmYyLWszbFc5SUVtMGsteUFHLVd6VVdiQTdwdzl5SVQzaWxRankteHRfYV80ZUExY1JvS1VXLVRqNUkwYkhfcTZpUFByazRGLVpXSkZOVks5NERVQnBTbkhIS0N2VVY2c3pXSHNxYnkxYzg0MXd2cXNwUGxJbFF0cENZYVNjUVpIWG96dmYyUQ?oc=5) · KRQE
- 2024-11-09 [Top NM credit union rebrands as Sunward, shares insights, plans for expansion - The Business Journals](https://news.google.com/rss/articles/CBMimwFBVV95cUxPb0xqaGhXejNETWxxcng2a05jTGJhQml0Z1dMamRsTWMwSVlyR1pOem9VLXlkbWdkNFllSUpzUmZzTXl0SDB0MjJSN2JxOHgxM1ZGbXBQbmUxRkRRUEhGcUZSbDhScFgzYTVQTTlwSldBUmtNcEhxMDRIWWRnMk94d1BtMHdsZDFQQWtZSXl6dzlON1dlVFNXcTN4VQ?oc=5) · The Business Journals
- 2024-11-26 [Sunward to Finalize Acquisition of New Mexico Based Business from Mountain America Credit Union After Positive Vote - The Manila Times](https://news.google.com/rss/articles/CBMimAJBVV95cUxOMlYya1dpdk50YnZLeWZUYVZsZ2tIbVJvRVl3UHgtQS04c2JkTDlndmZMaXItenpKR1p6bmtvUTlYZ2d1ZVlaNTctWXFwbDRUSS1PbU9ydEZEZjY4TXNfdVd2MzRUbUVYci1ObF8xTkNTRXRYa2dBUk56R05kVGcwWTRoeXVNeG1Eek9vLWJZdzFPaDJMRTgwNElRTkMyRUJueWgtMmtJbEhIM0N4VVBGTS1RX0pBSkZ4SllyMkVtMHl2R0tocWp4eXRMbG5NUzlwb1ozNFhCbEdnT2xRXzJFUG5VdE1lXzVvWEdLS21QeFB2LUlEeU8zcXk0OFVZSmxLR0VMdGdmMDNoVXV0amxBTlE0bkZJSHNu0gGeAkFVX3lxTE9Mb3pOb195c29LeFJ6T2NCZEdGYWFJX0oydFpvSnhzUmZNcnV0M3prb1dQWm95R3NoejBocVExdVVLQ29fZlZSTXJ3T1NZalE4R1RtSTZScmp2M0ExUmhOT01hcExvT05DYUQ1S2lPbzhQYUNwMnhwT2hkWHhicjdoY0U1cnBVUTJINjRfTGpPeFEySElEUVZfTTFEbUVxbTdRWnFveFZrZWpFUXNMYjg3bU5QQ3BFNGxJblFZTXdKY3NteExWTDBKRGdUSUZ0SlNPakVwcVFZejhYeHJJOHVITkJoaUladHQtN09nZmdzd29MUThWeVhtVTZfV01VMFdSNjc1MVY2Q21kOVBoR3BMTU4talE3aG1WbmwybFE?oc=5) · The Manila Times

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=5851 (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/27.json (key "5851", 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=5851
- 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