# FLOODWOOD AREA
FLOODWOOD, MN · NCUA charter 60556 · asset band <$50M · latest filing 2018-03 · stopped filing after 2018-03 (departed; for a credit union that is almost always a merger)
Share link (named URL with a preview card): https://getbookiq.com/cu/floodwood-area-60556

Who the members are: state charter, organized 1937, low-income designated. 1,813 members of 5,078 potential (35.7% of the field); checking penetration 42% (share draft accounts per 100 members); loans per 100 members 36.

**Verdict on the desk:** this could be *liquidity-rich*. 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 | $17.8M |
| Members | 1,813 (-0.3% YoY) |
| Full-time staff | 3 |
| Net worth | $2.3M |
| Net worth ratio | 13.0% (p53 of band) |
| ROA (annualized) | -15.97% (p1 of band) |
| Total delinquency | 1.17% (p62 of band) |
| Net charge-offs (annualized) | -0.05% (p16 of band) |
| Loans / shares | 57% (p53 of band) |
| Cash / assets | 15.2% |
| Borrowings / assets | 0.00% |
| Net interest margin | 2.88% (p41 of band) |
| Operating expense / assets | 19.20% (p100 of band) |
| Vehicles % of loans | 29% (p19 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 30% |
| Third-party paper % of net worth | 34% (p94 of band) |
| Vehicle delinquency | 0.00% (p15 of band) |
| Vehicle NCO | 0.00% (p34 of band) |
| Repossessed % of vehicle book | 0.00% (p45 of band) |
| Real estate % of loans | 54% |
| Credit cards % of loans | 1% |
| Unsecured % of loans | 1% |
| Commercial % of net worth | 5% |
| Core shares % of member funds | 84% |
| Certificates % of member funds | 11% |
| Average share balance | $4,869 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | – |
| Loans outstanding per 100 members | 36% |
| Loans granted per 100 members, annualized | 14% |
| Average loan balance | $13,775 |
| Loans granted, annualized | $2.5M |

## Flags firing in the latest filing

- **losing money** (`earn_negative`)
- **expense trap** (`earn_opex`)
- **assets shrinking** (`shrink_assets`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 1 | delinquency 2x band |  |
| 2016-06 | 3 | losing money, charge-offs p90 |  |
| 2016-09 | 1 |  | losing money, charge-offs p90 |
| 2016-12 | 1 |  |  |
| 2017-03 | 1 |  |  |
| 2017-06 | 1 |  |  |
| 2017-09 | 0 |  | delinquency 2x band |
| 2017-12 | 0 |  |  |
| 2018-03 | 3 | losing money, expense trap, assets shrinking |  |

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

- 2020-08-26 [Successor named as Northwoods Credit Union CEO plans retirement - American Banker](https://news.google.com/rss/articles/CBMisgFBVV95cUxOQnA0RWphekc4Vi1CelcwQi1yb0p1UDFZV2EzR0ZQUGh1Wi1TczdzY2VFZW0tSXM5V0c2SEhSTWRJV1NUdnJZWUJOYTBqUy1TeW1td05DQVhhQnAyNU5xRWxvb2ZRMWZEZ3N5dXFReEVWZjMxZTJqOVZjV2ZrS0RuYmoxeW9rT0ltOWVqQkE5WlpxZ2Zrc2FVTy1JYzk2TC1NeUMxcWV5ak5MYzNYNkVOXzBn?oc=5) · American Banker

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=60556 (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/12.json (key "60556", 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=60556
- 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