# TRUE NORTH
Juneau, AK · NCUA charter 5892 · asset band $200-500M · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/true-north-5892

Who the members are: federal charter, multiple common bond, organized 1948. 13,157 members of 400,000 potential (3.3% of the field); checking penetration 56% (share draft accounts per 100 members); loans per 100 members 56.

**Verdict on the desk:** this could be *ordinary*. 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 | $237.1M |
| Members | 13,157 (0.1% YoY) |
| Full-time staff | 63 |
| Net worth | $23.7M |
| Net worth ratio | 10.0% (p29 of band) |
| ROA (annualized) | 0.22% (p16 of band) |
| Total delinquency | 0.91% (p74 of band) |
| Net charge-offs (annualized) | 0.61% (p72 of band) |
| Loans / shares | 83% (p73 of band) |
| Cash / assets | 18.1% |
| Borrowings / assets | 0.00% |
| Net interest margin | 4.55% (p94 of band) |
| Operating expense / assets | 4.80% (p91 of band) |
| Vehicles % of loans | 50% (p81 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 46% |
| Third-party paper % of net worth | 168% (p75 of band) |
| Vehicle delinquency | 1.20% (p82 of band) |
| Vehicle NCO | 0.92% (p66 of band) |
| Repossessed % of vehicle book | 0.05% (p62 of band) |
| Real estate % of loans | 23% |
| Credit cards % of loans | 3% |
| Unsecured % of loans | 6% |
| Commercial % of net worth | 85% |
| Core shares % of member funds | 57% |
| Certificates % of member funds | 23% |
| Average share balance | $8,353 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | $3.9M |
| Loans outstanding per 100 members | 56% |
| Loans granted per 100 members, annualized | 8% |
| Average loan balance | $23,761 |
| Loans granted, annualized | $58.5M |

## Participation posture (from the same filings)

Bought $0 and sold $0 in the latest annualized quarter; $3.9M outstanding purchased (16.6% of net worth), $349,756 sold and retained. Sold in 3 and bought in 1 of the last 8 quarters. Shares 0.3% year over year.

## Flags firing in the latest filing

- **expense trap** (`earn_opex`)
- **assets shrinking** (`shrink_assets`)
- **3rd-party paper>100% NW** (`str_thirdparty`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 1 | thin capital |  |
| 2016-06 | 1 |  |  |
| 2016-09 | 1 |  |  |
| 2016-12 | 2 | expense trap |  |
| 2017-03 | 3 | net worth falling, delinquency rising | expense trap |
| 2017-06 | 1 |  | net worth falling, delinquency rising |
| 2017-09 | 1 |  |  |
| 2017-12 | 2 | loans>95% of shares |  |
| 2018-03 | 3 | members leaving |  |
| 2018-06 | 3 | net worth falling | members leaving |
| 2018-09 | 2 |  | net worth falling |
| 2018-12 | 2 |  |  |
| 2019-03 | 2 |  |  |
| 2019-06 | 0 |  | thin capital, loans>95% of shares |
| 2019-09 | 0 |  |  |
| 2019-12 | 0 |  |  |
| 2020-03 | 2 | net worth falling, delinquency rising |  |
| 2020-06 | 3 | thin capital, expense trap | delinquency rising |
| 2020-09 | 3 | margin squeeze | expense trap |
| 2020-12 | 4 | delinquency 2x band |  |
| 2021-03 | 5 | charge-offs p90 |  |
| 2021-06 | 2 |  | net worth falling, margin squeeze, charge-offs p90 |
| 2021-09 | 2 |  |  |
| 2021-12 | 1 |  | delinquency 2x band |
| 2022-03 | 2 | delinquency 2x band |  |
| 2022-06 | 2 |  |  |
| 2022-09 | 1 |  | delinquency 2x band |
| 2022-12 | 0 |  | thin capital |
| 2023-03 | 1 | expense trap |  |
| 2023-06 | 0 |  | expense trap |
| 2023-09 | 1 | net worth falling |  |
| 2023-12 | 0 |  | net worth falling |
| 2024-03 | 1 | 3rd-party paper>100% NW |  |
| 2024-06 | 2 | net worth falling |  |
| 2024-09 | 1 |  | net worth falling |
| 2024-12 | 3 | delinquency 2x band, delinquency rising |  |
| 2025-03 | 3 |  |  |
| 2025-06 | 3 |  |  |
| 2025-09 | 3 |  |  |
| 2025-12 | 1 |  | delinquency 2x band, delinquency rising |
| 2026-03 | 3 | expense trap, assets shrinking |  |

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

- 2026-06-08 [52 credit union leaders earn CUDE designation in June DE class of 2026 - CUInsight](https://news.google.com/rss/articles/CBMisAFBVV95cUxPMWNHSl9CUXE1aFRCUGtabGttcW45OUVObFFuVTNXbC0zOUtTNURqZGFib2FPZ3VCUnQ1RlRNWjN6MzlUb1dNZUtoZTJ6VV9uZHA3RGIwTEZTeTVpR29rRTFRQ2twVjh5WThPTTRqSG5CZFhCNHZsUkhvS1gtbEdKcjBkTC1aVTh1SUZoX2tWUF83OGxfZHkzUzFieTRWZjJMZVFwNFFQSExndVhoUDU2ag?oc=5) · CUInsight
- 2026-05-28 [Wrongful death suit filed against City and Borough of Juneau - Juneau Empire](https://news.google.com/rss/articles/CBMiogFBVV95cUxNRERuNlZEOW02SkZ5Rlo1VW55WjNkYnZtdFpzZkJQTDdBWFBucVd5NGJmN1ZZWmNnb3gyanJLMVhKQTBnd0ZIMFYxVXY5c09MWm1rOVowUUJPaGFQdHNEYkZhandqdVVIVzVCZmEwMGlFSS0xM0FtOWRyblUtdWg1Z2J3QWtiT2lhY01yaF9Zek5paU0xdGZodmlZaVB2MkNLNnc?oc=5) · Juneau Empire
- 2024-12-05 [Apply for down payment assistance on manufactured homes - City and Borough of Juneau](https://news.google.com/rss/articles/CBMikgFBVV95cUxOLXpSRExSck40WmxLS01QWmduQjl5dnpNQW1iTlMyYTB6U2RMcVJhMHRfM3owdXA4MlM4bjh1N3pidjF4RHpuZFdJaGtGYWRrRTVsbVo0a0cyZmZTUERVM21yM0Q0c21tTmRCQTZlSDRud2FybkZHMXJSamVEWnFGTmdqT1JocWFYLUVmZGkzVzl3UQ?oc=5) · City and Borough of Juneau
- 2024-06-19 [Juneau Assembly doubles loan amount available to residents purchasing a mobile home - Alaska Public Media](https://news.google.com/rss/articles/CBMiwgFBVV95cUxQNER4NUxIOE1OcVZjVVZWY0RJUU11aGZneGpzeWdMTDRiRVVQMXdDNjR3UUJYYnhYX0huRVZvdTEyaGJUMV95MUpKeEFWQm9BZEtQOUtWalJHcWRFcWVjdGQwR0lMdFpNWXRENlN3aUo0eHJkWmh1WkVaaHVENWxPNFZVeEtIbmlDQkJZYnJJZ0VIc1BOdC1qc3VmTWdhdHktWnRaOUpnb2EzQms1M2hKTDJEMVZvMTdCQnpnWkRrdjdTQQ?oc=5) · Alaska Public Media
- 2022-02-28 [Digital Banking Solutions Provider Bankjoy Announces 16 New Credit Union Partners - Finovate](https://news.google.com/rss/articles/CBMipgFBVV95cUxOaE5ROEJuckFJUkEwYVprNU0wbFl4T0gyTnQ0TGktU05QTENpOGpKZExoeDVMRHJTRlN1QnREd05oaEczaEZvRmRGamFPbk8xSVRtNXgydXNVWjJzWE9PcWx4VGdQYVh3QnBONUhUbTBpQzZDa0NNSWZQTW11a29ZV0RWdWJuSC1YNzAyTmdBZmh6RllTSVdxeDNmRkRYb3VhM1JPT3l3?oc=5) · Finovate
- 2025-03-26 [Corelation gains new core banking tech clients, reports go-lives - FinTech Futures](https://news.google.com/rss/articles/CBMiugFBVV95cUxNRWo0MU05UWJISVZWbDE0QXFvX1RWUHNvVUJzRURDYWZBamNKNHRxS0xlUjEyQkxDOXFZTlMyTjhJVzhmeEdhZmdJN0lnekpuNEFnZ1RudVNidzRJbXRJQVZ2VmI4ZDRaMVFHN0FLRnd6N2x5OTF2U1c1R1BjOFBuQ1dRcGViWGRld1FPT2FfZjlockdRWGtPY2hiS3ZldndPRzJXT2tVTlFiTGxLM2I5SHd5bVpNenFBVWc?oc=5) · FinTech Futures
- 2024-06-13 [Juneau man dies in Seattle hospital after a city-owned truck struck him - KTOO](https://news.google.com/rss/articles/CBMipwFBVV95cUxNUzVaeDM3bmpKX05KVl9wblhZQjVFS191UkJIQW9BWVNLS05vR2ZtYXRnUzhzVUVhSWVlU3FpblloYVJySmFwV1k3NmxNUWo5ZzBSTEppREpUVUJ2VlF1am5sbGFHVHhSX3pONTdOU3hSUXJXb3ktY0pJWTFGUVJ1RjNjZTE1TUN1NWFFbTJNVUhTemF0THdxc2xNdlZTeURqV2F3LWViTQ?oc=5) · KTOO
- 2019-08-09 [TAPCO Names Peters Chief Operations Officer - cutoday.info](https://news.google.com/rss/articles/CBMijgFBVV95cUxOQi1WZ01MVnBWVTZpMHlIR2pIS0hhR2Y4UDdLU2NhY04wT09zNEN4cFBrWnJzZmQxdHhrcGdQX0xCZ1VhelZfODlCUlZtTktybGk5Y3h0N29uNmFZMzREV1FKZzBlV3RwdjgwakJpY2xkeTNFTVVFQUN5WTNYMDdlVlNQaEtKU3VyVnhaUVdR?oc=5) · cutoday.info

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=5892 (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/4.json (key "5892", 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=5892
- 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