# VALLEY STATE
SAGINAW, MI · NCUA charter 60775 · asset band <$50M · latest filing 2016-12 · stopped filing after 2016-12 (departed; for a credit union that is almost always a merger)
Share link (named URL with a preview card): https://getbookiq.com/cu/valley-state-60775

Who the members are: state charter, organized 1955. 2,715 members of 11,900 potential (22.8% of the field); checking penetration 31% (share draft accounts per 100 members); loans per 100 members 59.

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

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $19.8M |
| Members | 2,715 (– YoY) |
| Full-time staff | 4 |
| Net worth | $576,685 |
| Net worth ratio | 2.9% (p0 of band) |
| ROA (annualized) | -10.41% (p0 of band) |
| Total delinquency | 7.42% (p95 of band) |
| Net charge-offs (annualized) | 12.29% (p100 of band) |
| Loans / shares | 63% (p59 of band) |
| Cash / assets | 18.6% |
| Borrowings / assets | 0.00% |
| Net interest margin | 3.17% (p57 of band) |
| Operating expense / assets | 4.39% (p75 of band) |
| Vehicles % of loans | 52% (p50 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 50% |
| Third-party paper % of net worth | 535% (p100 of band) |
| Vehicle delinquency | 12.19% (p98 of band) |
| Vehicle NCO | 23.70% (p100 of band) |
| Repossessed % of vehicle book | 0.00% (p44 of band) |
| Real estate % of loans | 32% |
| Credit cards % of loans | 8% |
| Unsecured % of loans | 16% |
| Commercial % of net worth | 0% |
| Core shares % of member funds | 46% |
| Certificates % of member funds | 20% |
| Average share balance | $4,418 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | – |
| Loans outstanding per 100 members | 59% |
| Loans granted per 100 members, annualized | 6% |
| Average loan balance | $7,502 |
| Loans granted, annualized | $2.2M |

## Flags firing in the latest filing

- **thin capital** (`cap_low`)
- **capital below 7%** (`cap_critical`)
- **losing money** (`earn_negative`)
- **delinquency 2x band** (`aq_dq_high`)
- **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 | losing money, delinquency 2x band, 3rd-party paper>100% NW |  |
| 2016-06 | 4 | charge-offs p90 |  |
| 2016-09 | 4 |  |  |
| 2016-12 | 7 | thin capital, capital below 7% |  |

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

- 2026-07-29 [Detroit Red Wings announce 2026-27 theme games and promotional schedule - nhl.com](https://news.google.com/rss/articles/CBMiqAFBVV95cUxQNkNTV1phaDgwV01jZzVVck4xX0MxVFllSkZOa1NxMXJwVXhnRVdXSGZKNEN3T0MzTjh1YWhMZjJjMUtqbWd5dlpyeWVQcEV1RUNyWGc5QWc3eGVWcm5LblRqSS16ZGdLdFVtYkZ3dDVRQU5wUWZqbGpJdDNmU0xoZk53WGRYSUFvSU5qTEdlbkVFVW5Sel82dXFEZ3NEaTV2Z055STFuc0E?oc=5) · nhl.com
- 2026-07-28 [Red Wings unveil theme nights. Fans supply the punchlines - The Detroit News](https://news.google.com/rss/articles/CBMi3AFBVV95cUxNOW5kdE9hY09MaGkzSDNRQWpTS3Rhc3hMbk1FMVNMNkRLUTdKV2pBUk5MdEZjUl9mdXdZUFFLVjkzbGNzeHhuT1c1NTh0cDdXblIwbEdad2xGUDUtR1RNY1daamlmUDZQU2JQUVEybTZZZkVlaE5Ib2JfNTFFU3gtanh3UE13N1MyWWJLSXBmMUZ1ZVVOWVBZSmdOM0MwM3BkazVYUFhoOU9FUDJUYXR4a2NNcGlYV1M0ZEFHVXhlY0xIWjAzRGVDV19rLXV1SzZIQ2dCSlFjeWdTVk1a?oc=5) · The Detroit News
- 2026-06-04 [Northland awards scholarships to outstanding students - thealpenanews.com](https://news.google.com/rss/articles/CBMirAFBVV95cUxNLVJsVUxYYTNuVl8td2pUelVTOXVpX1NZS29nSzgwNktzS0tUYUNNWVhadVJ0UXNZQTZCaFV1Sm9Ic21OeTFleG1rUzdPQ3NhR1ZhZy1ZcjZOc1lvNndxSm5DZ0xWWUxXUENId0NGX2pKWEFyaXFfQTJYNzQ5d203MW5ydHdoQ3FaR0FueWVydVFIQ2hqSjVkOUVIWlRIUFJMWTd1TzdkUlBNVTkx?oc=5) · thealpenanews.com
- 2026-05-15 [Team One, Lansing-based CASE Credit Union plan merger - Huron Daily Tribune](https://news.google.com/rss/articles/CBMigwFBVV95cUxNSV9VaTNTMkkwWTA1VnQwZ1lYTHVOZ0xTNTNHOUJ4R3BvZ2g5b0pmWFF4WlZmZEF1RXJRQjA0UHQ5bllqRGE0b0xhTHBMSVRPX1NIMjhwNU5mV1RRV2xsV1RKVTlNbHJ0UzhocmNVSE5PM3JUQnVvUnJZY0FYRUt6UE4tZw?oc=5) · Huron Daily Tribune
- 2026-06-29 [Bay Area Chamber of Commerce Foundation celebrates 20 Leadership Bay County class of 2026 graduates - MLive.com](https://news.google.com/rss/articles/CBMi7AFBVV95cUxNU29mU0xKcDhKRVE4RVlNamRNYm9jY3BoUl96RmFZazVpZzRjajJseDJ3d0dzTW9qeGk4SUhVYVdrRzhQZFliS1ZjZ3ZPYS02YnpQN29vLTZzTzRaemFWd3JtYlpKdEZOSHVrUVhITGEzMk85Mm5HVGFybjBnSzgyWktUenM5bUNJMWppd1pzSUFfcjlBWlhvc1NxZVJDYVpFdjV6QWZnTVhuMVFBLTgtMk5vLWxSMkZlQ2hCM0NibTlpM01vMVdoZGk2QXNtOUFkS3lHcVlReFZNVm9OMVdPOFNTOWlBMzhVUlphRNIBgAJBVV95cUxOOEF6UFZIU0U5V2tlVUg3X3VMczVlM0IzRGVSTkRsLTQ5Nl9jdW5EQjZpY0J2MHpYVVcxb3RBVXdjMDczSHNraGJQN3NVRmhhZ016bmxYS1dqZGl3YlF4ZEVVWWo5N09tay1SWVJoYm5YSUcwS2xhUEpyT1F6TkJJMVI5cjFPNkV1S19tVTVqUlpQV0VTaTFJTERtMVE2bmNpSTllckpGbmhOT1hvMGdXcVdhTFBkTW0zM2NpUFVsaGoyOEJ6Vnhkd0dSOGJOYl84MWxfLTdwTVJIZE5ZZ0NQT1ZmUmJCeW9CU2tSX19pU3pNdHpjVmJQc0JlTjV6cUQ3?oc=5) · MLive.com
- 2026-02-24 [MEDC gave $248M to more than 180 nonprofits - Michigan Capitol Confidential](https://news.google.com/rss/articles/CBMilgFBVV95cUxOdFJmakRMczU2ZnpPZWwyREtyNkd4WDMxVmRvajQ0dVVHeDI1RzlHNFpnc1BSSWU3MlNVSkpHV2Z6NkFESGhZNXIzZXBjSXFnZFlkREU1b2I5eFVfV1FNUnhYT016X3pleURHUTVMMzdLLXZXSE5ZSllDekNUSWpEU0VEQ2R5bEQyYVcwdktMZVlhZlpZR1E?oc=5) · Michigan Capitol Confidential
- 2024-07-02 [2012-2024 List Of Failed Credit Unions - Bankrate](https://news.google.com/rss/articles/CBMib0FVX3lxTFBqUTBmbUhvaEh6UXpMOERnZTMzUjU2djBQVUVxMHd4UmZFRF84OWFtelZtZXQ3eTF5ZE5fbE5YVTRIUWd2dDVDWjZxZ3F4d3gwRFhMV2FyT21RWXlTLVVoRTE5Z0R1Ql9iMHVmYndZUQ?oc=5) · Bankrate
- 2026-09-09 [Men's Basketball Releases 2026-27 Non-Conference Schedule - Oakland University Athletics](https://news.google.com/rss/articles/CBMipgFBVV95cUxNZGUwS09Ca1NDYVpvZHZOQVhDczVFakZMemFVQVd1MU5sMVJ3LW90WWpHMkhSQWZGNGcyM2RUVDhaNGd0amw4TGVpQk04RHRXZzBWSHMyMlRvbUN3eV9jYTg2T3FocTFScXlJOGV0LVJPSDBEV1B2SEJDcEFUYi1leEFya2tpeWlQRy1wTkVjcEFNYUF5QVozTVktWTZIS2lBcG11b0Rn?oc=5) · Oakland University Athletics

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=60775 (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/39.json (key "60775", 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=60775
- 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