# GREENSTATE
North Liberty, IA · NCUA charter 60269 · asset band >$10B · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/greenstate-60269

Who the members are: state charter, organized 1938, low-income designated. 408,586 members of 7,170,000 potential (5.7% of the field); checking penetration 41% (share draft accounts per 100 members); loans per 100 members 125.

**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 | $11.19B |
| Members | 408,586 (-10.3% YoY) |
| Full-time staff | 992 |
| Net worth | $975.2M |
| Net worth ratio | 8.7% (p8 of band) |
| ROA (annualized) | 0.59% (p33 of band) |
| Total delinquency | 1.26% (p79 of band) |
| Net charge-offs (annualized) | 0.48% (p29 of band) |
| Loans / shares | 104% (p100 of band) |
| Cash / assets | 11.1% |
| Borrowings / assets | 12.42% |
| Net interest margin | 2.27% (p4 of band) |
| Operating expense / assets | 2.50% (p46 of band) |
| Vehicles % of loans | 12% (p21 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 74% |
| Third-party paper % of net worth | 87% (p46 of band) |
| Vehicle delinquency | 1.03% (p58 of band) |
| Vehicle NCO | 1.57% (p67 of band) |
| Repossessed % of vehicle book | 0.00% (p17 of band) |
| Real estate % of loans | 53% |
| Credit cards % of loans | 3% |
| Unsecured % of loans | 4% |
| Commercial % of net worth | 283% |
| Core shares % of member funds | 25% |
| Certificates % of member funds | 46% |
| Average share balance | $12,118 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | $58.6M |
| Loans outstanding per 100 members | 125% |
| Loans granted per 100 members, annualized | 12% |
| Average loan balance | $18,007 |
| Loans granted, annualized | $5.51B |

## Participation posture (from the same filings)

Bought $0 and sold $0 in the latest annualized quarter; $58.6M outstanding purchased (6.0% of net worth), $43.3M sold and retained. Sold in 1 and bought in 0 of the last 8 quarters. Shares 2.0% year over year.

## Flags firing in the latest filing

- **thin capital** (`cap_low`)
- **members leaving** (`shrink_members`)
- **loans>95% of shares** (`str_ltos`)
- **leaning on borrowings** (`str_borrowings`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 4 | thin capital, loans>95% of shares, leaning on borrowings, 3rd-party paper>100% NW |  |
| 2016-06 | 4 |  |  |
| 2016-09 | 4 |  |  |
| 2016-12 | 4 |  |  |
| 2017-03 | 4 |  |  |
| 2017-06 | 4 |  |  |
| 2017-09 | 5 | net worth falling |  |
| 2017-12 | 4 |  | net worth falling |
| 2018-03 | 5 | delinquency rising |  |
| 2018-06 | 4 |  | delinquency rising |
| 2018-09 | 4 |  |  |
| 2018-12 | 4 |  |  |
| 2019-03 | 3 |  | thin capital |
| 2019-06 | 3 |  |  |
| 2019-09 | 3 |  |  |
| 2019-12 | 3 |  |  |
| 2020-03 | 3 |  |  |
| 2020-06 | 3 |  |  |
| 2020-09 | 3 |  |  |
| 2020-12 | 3 |  |  |
| 2021-03 | 3 |  |  |
| 2021-06 | 3 |  |  |
| 2021-09 | 3 |  |  |
| 2021-12 | 3 |  |  |
| 2022-03 | 5 | net worth falling, charge-offs p90 |  |
| 2022-06 | 5 | delinquency rising | charge-offs p90 |
| 2022-09 | 5 |  |  |
| 2022-12 | 5 |  |  |
| 2023-03 | 5 | margin squeeze, charge-offs p90 | net worth falling, delinquency rising |
| 2023-06 | 5 |  |  |
| 2023-09 | 5 |  |  |
| 2023-12 | 8 | thin capital, net worth falling, losing money, delinquency rising | charge-offs p90 |
| 2024-03 | 7 | delinquency 2x band | net worth falling, losing money |
| 2024-06 | 6 | assets shrinking | margin squeeze, thin capital |
| 2024-09 | 6 |  |  |
| 2024-12 | 5 |  | delinquency 2x band |
| 2025-03 | 5 | net worth falling, delinquency 2x band | 3rd-party paper>100% NW, delinquency rising |
| 2025-06 | 4 | members leaving | assets shrinking, net worth falling |
| 2025-09 | 3 |  | delinquency 2x band |
| 2025-12 | 5 | thin capital, net worth falling |  |
| 2026-03 | 4 |  | net worth falling |

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

- 2025-12-17 [Iowa-based credit union no longer allowing penny withdrawals - KCCI](https://news.google.com/rss/articles/CBMiigFBVV95cUxQbTI5Q3pITHVDYlEwUUxGZU5vMmZZZUhCQUpDQmk1OGh2SklHaXJGd0xsV2RRZnN5eFR6YzR1RTloRlpQYnN1T3hfeHFEZ3YzWjgwM3BKYnlCdHFDcTc2VmZ4WjF1VTZ4YkkxSXVUcXB0eGVsMmQ0Z0pIcW1DU0pQSlROTkl2OG03a2c?oc=5) · KCCI
- 2025-11-18 [Foreclosed Marc Moen properties, The Chauncey return to Greenstate Credit Union ownership - The Daily Iowan](https://news.google.com/rss/articles/CBMiwAFBVV95cUxOOW1zTUd6S0NlbDU4UllFUjVxMXgxMG84RGZfemo1TlpURkhERkhaQ3JuR1N6UW9DMDhyS2VHNFZ5N3E2bHVIV3lkY3ZsZktqSnZiSmFUSXZ0TzdCMWNNVGNkaUxDZnhlT295S21panZlZk9OSjZrbWpWR3FMN2JBQUlhdkNGZjB2ZEV2QUFSRlptTjNqMndJd2NXVEFZQkFoaVQ1UElfdU9ybV9qQS0zQ2VPYkk2VVd0WXVKdjJwM1M?oc=5) · The Daily Iowan
- 2025-06-05 [Mark Phillips - Iowa Economic Development Authority (.gov)](https://news.google.com/rss/articles/CBMimAFBVV95cUxNTjR0eXZIWFB2MXhRN2l0TmFoZ01yVWdYdWw2LXM4WThuall0dDE5czEwTVFWbTI3QnAteFdPX0RVcmVNTGhabzVFbmR2bzE4eXBWeGU2UGVQZDZIeTExTjMweVNNWURxN1Z2NG5SbjNLdTh4dWpvMTNsaHZwa2wtNG9ESk9WX0VGckdPVnFNX2VmUk1LN0hOSQ?oc=5) · Iowa Economic Development Authority (.gov)
- 2024-02-23 [GreenState Credit Union loses $73M in last quarter of 2023 - thegazette.com](https://news.google.com/rss/articles/CBMi2wFBVV95cUxONjh4SHh6OVBJT1pCZnozVlB1dnVKSlh2MFJFWXFqVDVEcE1mcGJ2S0hhYmJYbmk5dXZrcHNzZDJQU2tHTkhBbHV0QnNWVWNHVl9RcG5iQ2tTUlAwLVZrQ1BNblZOYzVwSHkzY3J4SnR3SVFWdE0wVWhYM3FCNjZjcmhEcnZMMGlOalc5SFdiMFE0M0h6Vk1IbHcwZGwzMmdnSmo2ckZLSUM5bUdJVTB3cVVTYTJjeVBLNEhzR2tXS3lwXzVhaE51QVBtQlM3dVN2OGpWTGYzNGhZVGM?oc=5) · thegazette.com
- 2025-04-17 [GreenState CU to close Beaverdale, Urbandale branches as it builds Merle Hay Road office - The Des Moines Register](https://news.google.com/rss/articles/CBMijgJBVV95cUxNZ0FhWWVPaWJPcHBZbGRXWlFqTnB5WTViT0ZDRm55RFFBcHZnTTJHYlpKbHFZQm1Pd2RMS0xqcE96VExRcl9mZUJmMjhtUDd4MTl6X2Vhb1dfYnBDMWNXME10SGxLeGpxa0EzMzY4N1lFLWtKZWk3TVppVGI2N1BPUXBTUUd3SGdsN1FPbmFDZU9RODJLaFJ6OC01endVMnRrMVliWlM1TVNfMUo3UDFNZ29jREV3cTJOdHl6TjJDSGFlQjJZYktYcHpaOEpJajBqT0JTVHpOQUtveV9zY0dkNEJCZGp4aDNOeGQzT2NvZTBoaDNySjNmczRJUmxIWWVzZjJxWXRsNVdleXYwZkE?oc=5) · The Des Moines Register
- 2024-08-26 [GreenState Credit Union appoints Heather Stumpf as Chief Financial Officer - CUInsight](https://news.google.com/rss/articles/CBMitgFBVV95cUxNR0tNRkNUbkxYMXY0RTFESDg5ZkVkMkM0UHBMY0xfVjBseFVjalRzOTZVUTNERzU1SjllTGdxSTdraGlBNmhBdFBsQVRIYkNHdFdxQV8tX0lIa1dKempVMXVSVjBTRjJxOFFvQVR0OURwR1pyeWo0dXJiRGs1cDgtZ29SY0FMRThsSjVZaFlHOW1idXpoeWhwSEtDZjY0OXdfODJJZFFkOXhFMDN0WE8zall3WWJsQQ?oc=5) · CUInsight
- 2022-09-16 [Dozens of positions cut at GreenState Credit Union - kwwl.com](https://news.google.com/rss/articles/CBMi0gFBVV95cUxQaV9Pc1BMenZSbmY3akdnOS0xd0FoTVNaNW5pOW5JeERzVjJHQ1pvQlljeWFSbzF0T0xjYmd5bDU3TnJLVHhwc0k0dlZNWnp6MzNpZS1vd2xDZkFVS3IyeXZjWXdzcVpBX21VVDNfdFI4cDNWQ1BkQm1qek5Lenp0ZzVqZE9mUWwyS0FuN0xZaWZkNFQwb285WmZqdVRqTkVNZS14cVVtbDExSUlOTzgzLTJPVFc5bldXa1RZVnplQWFLcDdTQm4yMXFyNEowdGZlMUE?oc=5) · kwwl.com
- 2025-11-20 [No bidders for the Chauncey and other foreclosed Moen buildings at the sheriff’s auction - Little Village Magazine](https://news.google.com/rss/articles/CBMiaEFVX3lxTFBaU0dCNnY4bkl3RU5XX2Y4WlR1czlEZVlXTmkycWxBNGpLdG5EbkNaa0x6Mjdsd2phd0daV193ZHBOUnZzRWhGZTFxS0RnZ3NxeWpBZl9xNlFRaWFwNVVQSDA0U1VhVXM4?oc=5) · Little Village Magazine

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=60269 (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/45.json (key "60269", 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=60269
- 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