# WASHINGTON STATE EMPLOYEES
OLYMPIA, WA · NCUA charter 60042 · asset band $1-10B · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/washington-state-employees-60042

Who the members are: state charter, organized 1957, low-income designated. 319,691 members of 8,001,020 potential (4.0% of the field); checking penetration 59% (share draft accounts per 100 members); loans per 100 members 65.

**Verdict on the desk:** this could be *indirect buyer*. 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 | $5.11B |
| Members | 319,691 (-0.1% YoY) |
| Full-time staff | 769 |
| Net worth | $496.4M |
| Net worth ratio | 9.7% (p27 of band) |
| ROA (annualized) | -0.04% (p3 of band) |
| Total delinquency | 0.69% (p59 of band) |
| Net charge-offs (annualized) | 1.18% (p91 of band) |
| Loans / shares | 86% (p49 of band) |
| Cash / assets | 4.4% |
| Borrowings / assets | 0.00% |
| Net interest margin | 4.06% (p92 of band) |
| Operating expense / assets | 4.01% (p86 of band) |
| Vehicles % of loans | 21% (p36 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 80% |
| Third-party paper % of net worth | 182% (p63 of band) |
| Vehicle delinquency | 1.33% (p88 of band) |
| Vehicle NCO | 1.73% (p80 of band) |
| Repossessed % of vehicle book | 0.18% (p80 of band) |
| Real estate % of loans | 41% |
| Credit cards % of loans | 7% |
| Unsecured % of loans | 11% |
| Commercial % of net worth | 146% |
| Core shares % of member funds | 51% |
| Certificates % of member funds | 28% |
| Average share balance | $7,140 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | $27.1M |
| Loans outstanding per 100 members | 65% |
| Loans granted per 100 members, annualized | 72% |
| Average loan balance | $19,082 |
| Loans granted, annualized | $1.15B |

## Participation posture (from the same filings)

Bought $0 and sold $0 in the latest annualized quarter; $27.1M outstanding purchased (5.5% of net worth), $807,506 sold and retained. Sold in 0 and bought in 0 of the last 8 quarters. Shares 2.1% year over year.

## Flags firing in the latest filing

- **losing money** (`earn_negative`)
- **delinquency rising** (`aq_dq_rising`)
- **charge-offs p90** (`aq_nco_high`)
- **3rd-party paper>100% NW** (`str_thirdparty`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 3 | expense trap, charge-offs p90, 3rd-party paper>100% NW |  |
| 2016-06 | 3 |  |  |
| 2016-09 | 2 |  | expense trap |
| 2016-12 | 3 | expense trap |  |
| 2017-03 | 3 |  |  |
| 2017-06 | 3 |  |  |
| 2017-09 | 2 |  | expense trap |
| 2017-12 | 2 |  |  |
| 2018-03 | 3 | expense trap |  |
| 2018-06 | 3 |  |  |
| 2018-09 | 3 | loans>95% of shares | expense trap |
| 2018-12 | 3 |  |  |
| 2019-03 | 3 | expense trap | loans>95% of shares |
| 2019-06 | 4 | loans>95% of shares |  |
| 2019-09 | 2 |  | expense trap, loans>95% of shares |
| 2019-12 | 2 | net worth falling | charge-offs p90 |
| 2020-03 | 2 |  |  |
| 2020-06 | 3 | margin squeeze |  |
| 2020-09 | 3 |  |  |
| 2020-12 | 3 |  |  |
| 2021-03 | 4 | thin capital |  |
| 2021-06 | 2 |  | net worth falling, thin capital |
| 2021-09 | 1 |  | margin squeeze |
| 2021-12 | 1 |  |  |
| 2022-03 | 2 | charge-offs p90 |  |
| 2022-06 | 1 |  | charge-offs p90 |
| 2022-09 | 1 |  |  |
| 2022-12 | 2 | net worth falling |  |
| 2023-03 | 1 |  | net worth falling |
| 2023-06 | 4 | delinquency rising, loans>95% of shares, leaning on borrowings |  |
| 2023-09 | 5 | net worth falling |  |
| 2023-12 | 6 | thin capital |  |
| 2024-03 | 7 | losing money |  |
| 2024-06 | 5 | charge-offs p90 | net worth falling, thin capital, losing money |
| 2024-09 | 5 |  |  |
| 2024-12 | 5 | assets shrinking | delinquency rising |
| 2025-03 | 2 |  | loans>95% of shares, leaning on borrowings, charge-offs p90 |
| 2025-06 | 2 | charge-offs p90 | assets shrinking |
| 2025-09 | 3 | assets shrinking |  |
| 2025-12 | 2 |  | assets shrinking |
| 2026-03 | 4 | losing money, delinquency rising |  |

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

- 2026-05-03 [Celebrating public servants this week around the state and online - Office of Financial Management (.gov)](https://news.google.com/rss/articles/CBMipgFBVV95cUxQZ2ttNlpBZmllcWhYN1NkZjk5NWNwaFoyV3QwTUIzS1gwMV9UQkhSSDZDTzQ1c0ttS1FldVRRVS1Fck5xMUZvOXRLbkNmcUR4dUFvLXlFYlNndjJ1RWFJMEw5VWdkdUdGVVYwTVJzU3NxX2hUMzNCeEdjRHVkMHBnYm4xUFBGWWJyU1RkSEpoR2h2OG8zM1JqbC0yVzh4bUdvTzJiZ29R?oc=5) · Office of Financial Management (.gov)
- 2025-05-30 [Layoff Resources and the Fight Ahead - wfse.org](https://news.google.com/rss/articles/CBMiZEFVX3lxTFBFRnVlallpMmRIRWgzZmJMS1FSbERfWm9zdU5Ya3loM0pBMHl3ZkVpdDdHbE1pYklyZUtkNUNkWnVSQ2lKX2hVMnhNV09Rak90cW5GZDc4V05qeEE4QzMyT09PT0I?oc=5) · wfse.org
- 2025-03-17 [Soon-to-be 6th largest WA credit union will build $10M business hub in Kennewick - Tri-City Herald](https://news.google.com/rss/articles/CBMidEFVX3lxTE9tTnpwUHJJV29SUGRJZzBRTkpIQjVVLXBxV0hPcVpLdDJxWV9fQm1TcEFzTHVPemIxR2dNMExTVThlWTBiZ0p6aG8tWlNsREtRRE5nS2RKek5fOGRRNm90WWd0SU9GanNpYmEyUXlueHU2WVRo0gF0QVVfeXFMTVJQUTZEOUU1LW9VRE1VZlJHNXJDY0ZvV3JuNzZGOFFTLURnVS1GaVNoanVMWkp4amt1U2Jfak5zYmJTeXNPMUprWGNGMHhmR3RvRzVXcWZadFZtdVIwMVJrVlBRWVVyU0VXMExRN2dtbnFndEY?oc=5) · Tri-City Herald
- 2025-10-17 [Shutdown Has Frontline Workers and Washington Families Reeling - wfse.org](https://news.google.com/rss/articles/CBMiUkFVX3lxTE1nTDNUcEtmcjJJR2I1WHNIRE1DT25iWTFOVE0wT2FCRkRoN0FfQ1dtUU02U19vd0ktZk9RZk5KTVFXS1lCdVZRZTNKRlNPbkVYR0E?oc=5) · wfse.org
- 2022-05-10 [State Parks Expands 'Check Out Washington' Program - Patch](https://news.google.com/rss/articles/CBMijgFBVV95cUxPSHd4N0FMVWxsR0NPYXlVdW1GVmgtOGNmT3BuMTBxMXh2V2xiVXpMZTQxRjNVblJmblVxTFhXRlZ6MmFOdTUxbVptN0dKNEU1bWZGTjNjR3lMZFIxaWY3Wjg0Q2FWNTBMSGcydjRFWWMtRkpTNTFIU1BHRTBVb2JhdkJmZ2swN0dIM3hyNlRB?oc=5) · Patch
- 2019-06-11 [Donald Spahr Obituary - Centralia, WA - Dignity Memorial](https://news.google.com/rss/articles/CBMiggFBVV95cUxNa3VKY3NUWDAwTHF2M2VSUjVHU3M1aC1DWE1SMEZ6eVRvVVphZE5UamRCX2dTSXB0OWhkNmk2UFNpQTlMQWVHcVdEdlo1Zkw4aHRtV0ltVUd2TFpmbGRENjl2dUppdVl6RUNFQTRIUWdraEV4Vkl5VlMwa3lkbUdQelRn?oc=5) · Dignity Memorial
- 2017-01-07 [Brian Abbott Obituary (1968 - 2016) - Olympia, WA - The Olympian - Legacy obituary](https://news.google.com/rss/articles/CBMikAFBVV95cUxOajRJYnZzOHNmUDNxRmlCZldCWHhUbDNhdkpRZTlGRWFpRWJwOUVpc00zVmZZd3dGTGdBczVteGktSHR2eVYtN1VKM2hXbHVwZ1FUNUxZU0F1a2JhNTZDMWstMUlLazlWSjB3Y1k4dVNlLTNqMzNRbzFMd0w4Z09BczZoWnBaQjhxZmM1b2lQZUE?oc=5) · Legacy obituary
- 2012-08-28 [Suspect In WSECU Hostage Incident in Lakewood Identified - Patch](https://news.google.com/rss/articles/CBMioAFBVV95cUxQd1F1QWF4d1o5ZTNxNDVGMndUYWVGNkJfaC1XeXFzY005V2dnMHI1dEtnbWtOSFBLelItSDJ1cmRRZTczdk5hZmJOcERCN210Y0w5UWpyX1pZV1pRbC0xUlhVNTVSOVdHYTRTdkdTS29xTzlwX2VvZEdDdjZQNm5UYXR3UkZnRWFSM1dhSlozeTlpbUpRcWc5MmFTdTNlcjI5?oc=5) · Patch

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=60042 (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/10.json (key "60042", 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=60042
- 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