# PROGRESSIVE
NEW YORK, NY · NCUA charter 60064 · asset band $200-500M · latest filing 2018-12 · stopped filing after 2018-12 (departed; for a credit union that is almost always a merger)
Share link (named URL with a preview card): https://getbookiq.com/cu/progressive-60064

Who the members are: state charter, organized 1918. 2,821 members of 10,000 potential (28.2% of the field); checking penetration 16% (share draft accounts per 100 members); loans per 100 members 67.

**Verdict on the desk:** this could be *stressed*. Composite score 13 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $325.6M |
| Members | 2,821 (-8.3% YoY) |
| Full-time staff | 37 |
| Net worth | $-5.2M |
| Net worth ratio | -1.6% (p0 of band) |
| ROA (annualized) | -31.63% (p0 of band) |
| Total delinquency | 26.70% (p100 of band) |
| Net charge-offs (annualized) | 11.88% (p100 of band) |
| Loans / shares | 156% (p100 of band) |
| Cash / assets | 10.3% |
| Borrowings / assets | 26.15% |
| Net interest margin | 2.57% (p13 of band) |
| Operating expense / assets | 10.73% (p100 of band) |
| Vehicles % of loans | 0% (p0 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 0% |
| Third-party paper % of net worth | – |
| Vehicle delinquency | 0.00% (p1 of band) |
| Vehicle NCO | 0.00% (p1 of band) |
| Repossessed % of vehicle book | 0.00% (p21 of band) |
| Real estate % of loans | 24% |
| Credit cards % of loans | 0% |
| Unsecured % of loans | 0% |
| Commercial % of net worth | – |
| Core shares % of member funds | 9% |
| Certificates % of member funds | 47% |
| Average share balance | $30,095 |
| Participations bought / yr | $4.8M |
| Participations sold / yr | $0 |
| Participations outstanding | – |
| Loans outstanding per 100 members | 67% |
| Loans granted per 100 members, annualized | 3% |
| Average loan balance | $198,099 |
| Loans granted, annualized | $19.8M |

## Flags firing in the latest filing

- **thin capital** (`cap_low`)
- **capital below 7%** (`cap_critical`)
- **net worth falling** (`cap_falling`)
- **losing money** (`earn_negative`)
- **expense trap** (`earn_opex`)
- **delinquency 2x band** (`aq_dq_high`)
- **charge-offs p90** (`aq_nco_high`)
- **assets shrinking** (`shrink_assets`)
- **members leaving** (`shrink_members`)
- **loan book shrinking** (`shrink_loans`)
- **loans>95% of shares** (`str_ltos`)
- **leaning on borrowings** (`str_borrowings`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 5 | losing money, delinquency 2x band, charge-offs p90, loans>95% of shares, leaning on borrowings |  |
| 2016-06 | 5 |  |  |
| 2016-09 | 6 | net worth falling |  |
| 2016-12 | 6 |  |  |
| 2017-03 | 11 | margin squeeze, delinquency rising, assets shrinking, members leaving, loan book shrinking |  |
| 2017-06 | 12 | expense trap |  |
| 2017-09 | 10 |  | delinquency rising, expense trap |
| 2017-12 | 11 | delinquency rising |  |
| 2018-03 | 11 | expense trap | losing money |
| 2018-06 | 11 | losing money | margin squeeze |
| 2018-09 | 11 |  |  |
| 2018-12 | 13 | thin capital, capital below 7% | delinquency rising |

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

- 2026-07-14 [Wagmo and Curql Announce Strategic Investment, Bringing Modern Pet Healthcare to the Credit Union Movement - Business Wire](https://news.google.com/rss/articles/CBMi9AFBVV95cUxNWkcyd2djN1JYdXItTDBoRzdwWmxmZEpDS0ZjS1JYQUJPZkV6akhwRDd5eHh5eW5HbU9FYXdRSWFaaDBiT0x1alpWSnB2Ym9UakhyYjB4bnBLUlFlenB1SDRFZTFZZjBpakYwMllKUXdzS2lVS0xTWDEtRFplcENwYng2aEVMcTBQSWxQNGhhNHd3UnYzcEJCVE82cWZIR0Z2OUkwS1dwSTNBZlhBRmZnaEJWSkRGOXZpQm1keTlNX1hkbVpoSlN2YmVSTzRvMThSZ2l5TDEybElEczdiN1ExdGxOMGEwQWtIYmJEVTZUVEtja0dq?oc=5) · Business Wire
- 2026-03-05 [How to choose a bank aligned with your values: A comprehensive guide - Bankrate](https://news.google.com/rss/articles/CBMiiAFBVV95cUxONnBUT05xVWo3Qk90M0VrOTJvRkRUMGxOSFRHWVZmenJ3RE5teFE0UnZEUVhjTHVUVEJPbUFZLWZHQ19wQjlNX2x6dnd3aU9jWEtqNWNzQWpJQlJWc2tMVGJ0clBLY1NHSVhuSVFTMTZSYUMteWFqWS10b21IdmVfY1ZkQWFQMzho?oc=5) · Bankrate
- 2019-01-04 [PenFed deal feeds bankers' fears of unlimited credit union membership - American Banker](https://news.google.com/rss/articles/CBMipwFBVV95cUxOeWY0NUwxQmNzejE1ZS0zNUZxS1RlN25iSmRXNUpBZ19seExDVUk3UGphM19yMHVDSUQyWXhDTTN5Y1dvTGxtSnNBTHFfR0NNODZpNUFiM0JRNVlUS2t4YjZXRWxGbXZ5ZDAzVHFySExyX184VG9wZFJ4YmxZaFZpM09mTVhIb2Zka2d6UGNRdmwxck5rQ3RQTGNqckhKZE91YVgxeXdZMA?oc=5) · American Banker
- 2025-10-30 [2025 election Q&A: Syracuse Common Council at-large candidate Hanah Ehrenreich - Central Current](https://news.google.com/rss/articles/CBMipwFBVV95cUxORnduV0RoaHZOUEpDX01GTGptVjl0QVV6YlJheFgzc2ZuOVhxSENoUUJWZU1XRm1OUGw4MS1zMUFVck9ieTVtMDRqNjZEdlFfdVgtU2VDQ3FqMzlfTm94NlNVNGY2aTNiWjQ0cEdxOWRLb1lSM2dCS29XTGktbl83UmFIZVZBSlFYemJwa1pPOC11RXhmT3pFQWhsOE00R2tldUFYM2haVQ?oc=5) · Central Current
- 2017-03-01 [David Koshers – Progressive Credit Union - Vanguard Law Magazine](https://news.google.com/rss/articles/CBMiiwFBVV95cUxONzhreGxXb3djSkxEVUFjSldhUFFDcE1mRUV5aGFxa1lpNDBjWEhsNlQwRDA5STRiUWpxWXVodHpUY29QYi1KejRIMkh6NTlHY1pDTEFxaXNNcDNSVHFPcXlHM0FGZ1dhYks1X2xqQm1wY0haYlVVQVlJTEFyYTRqTm5VYmpkckJreXlj?oc=5) · Vanguard Law Magazine
- 2025-04-29 [Phoenix Rising FC Partners With America First Credit Union In Community-Focused Multi-Year Deal - phxrisingfc.com](https://news.google.com/rss/articles/CBMiyAFBVV95cUxNU1k0X3BDZlFJMjFRTVBJd1BFSU9hMkQ3cVlVT1p4V2NqbTBYeGY0OFhSRWdaWjVHZlhkVFBNcFBSY2JvUzlPSFpvM2RNWVJrem9kU2wxZjlHcjJQbUVZMXpYR0dtRV9UOGo1ZVJ6VldJNS1vdV8zdUxaT0wwQmp0TktjdnlDVDVhZUJLaC1mQm8zTFFFek9jcldQdU1rZmVfc0U3OUkxOUkxM3RNSVhUZDFCZkZ3T09NNXpMVzB1cko0YS1mcnRfOQ?oc=5) · phxrisingfc.com
- 2024-10-17 [Membership grows at a handful of Albany region credit unions - The Business Journals](https://news.google.com/rss/articles/CBMijAFBVV95cUxNYUYzSTUxVDM1REpEZ3l6Y1FkR0NOblc3SFdQMWtiN2JqZ3dTbEFRdmZlTnBoT3NsQV9DZTdha192U0dDcVY5NXI4cFloNlBUZ3RNWjVEanZucWVuNDZVYlpTMzFhaHNnUGwyUnBUWTNaZkhIeVpsNFJXUHo0TDBRdktsOGMxck9EbG9VcQ?oc=5) · The Business Journals
- 2025-11-27 [44th Norwich YMCA Turkey Trot Draws Biggest Crowd Since Pandemic - The Evening Sun | Chenango County, NY's Hometown Newspaper](https://news.google.com/rss/articles/CBMiuAFBVV95cUxQcGJfWEJqd0hUbFpEU1NGcW5tNmJOb044bm9VMFBYOUlBYS1fZ01DUW0tbHBaTWpqQ3djNzF3VHdxUzlQTkp6VEQyOUp5UnVMM1d6bUhIRWFKZ2txenZYX3dNS2RvdVRacEppWk9wYlZrQXBDMHpVS1lVZmdpZkM4WWxoajVqTXlIekFkakcwenZJZi1IakhrWG4zejNLM3lDdk0yRzlCT09JelZfOFhxQzFrUjJRMzRE?oc=5) · The Evening Sun | Chenango County, NY's Hometown Newspaper

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=60064 (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/32.json (key "60064", 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=60064
- 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