# MICHIGAN EDUCATIONAL
Plymouth, MI · NCUA charter 60931 · asset band $1-10B · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/michigan-educational-60931

Who the members are: state charter, organized 1942. 47,969 members of 1,000,000 potential (4.8% of the field); checking penetration 49% (share draft accounts per 100 members); loans per 100 members 67.

**Verdict on the desk:** this could be *participation buyer*. Composite score 1 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $1.11B |
| Members | 47,969 (-1.8% YoY) |
| Full-time staff | 91 |
| Net worth | $128.5M |
| Net worth ratio | 11.5% (p66 of band) |
| ROA (annualized) | 0.41% (p22 of band) |
| Total delinquency | 0.24% (p11 of band) |
| Net charge-offs (annualized) | 0.20% (p15 of band) |
| Loans / shares | 49% (p2 of band) |
| Cash / assets | 8.7% |
| Borrowings / assets | 0.00% |
| Net interest margin | 2.61% (p13 of band) |
| Operating expense / assets | 2.57% (p19 of band) |
| Vehicles % of loans | 37% (p71 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 33% |
| Third-party paper % of net worth | 85% (p35 of band) |
| Vehicle delinquency | 0.31% (p20 of band) |
| Vehicle NCO | 0.59% (p24 of band) |
| Repossessed % of vehicle book | 0.00% (p11 of band) |
| Real estate % of loans | 56% |
| Credit cards % of loans | 2% |
| Unsecured % of loans | 5% |
| Commercial % of net worth | 0% |
| Core shares % of member funds | 72% |
| Certificates % of member funds | 24% |
| Average share balance | $10,822 |
| Participations bought / yr | $34.4M |
| Participations sold / yr | $0 |
| Participations outstanding | $45.5M |
| Loans outstanding per 100 members | 67% |
| Loans granted per 100 members, annualized | 52% |
| Average loan balance | $14,946 |
| Loans granted, annualized | $134.3M |

## Participation posture (from the same filings)

Bought $34.4M and sold $0 in the latest annualized quarter; $45.5M outstanding purchased (35.4% of net worth), $0 sold and retained. Sold in 0 and bought in 7 of the last 8 quarters. Shares 4.2% year over year.

## Flags firing in the latest filing

- **net worth falling** (`cap_falling`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 0 |  |  |
| 2016-06 | 0 |  |  |
| 2016-09 | 0 |  |  |
| 2016-12 | 0 |  |  |
| 2017-03 | 0 |  |  |
| 2017-06 | 1 | net worth falling |  |
| 2017-09 | 0 |  | net worth falling |
| 2017-12 | 0 |  |  |
| 2018-03 | 1 | delinquency rising |  |
| 2018-06 | 1 | net worth falling | delinquency rising |
| 2018-09 | 0 |  | net worth falling |
| 2018-12 | 0 |  |  |
| 2019-03 | 1 | 3rd-party paper>100% NW |  |
| 2019-06 | 1 |  |  |
| 2019-09 | 1 |  |  |
| 2019-12 | 1 |  |  |
| 2020-03 | 2 | net worth falling |  |
| 2020-06 | 1 |  | 3rd-party paper>100% NW |
| 2020-09 | 2 | margin squeeze |  |
| 2020-12 | 2 |  |  |
| 2021-03 | 3 | loan book shrinking |  |
| 2021-06 | 3 | members leaving | loan book shrinking |
| 2021-09 | 1 |  | net worth falling, margin squeeze |
| 2021-12 | 1 |  |  |
| 2022-03 | 1 |  |  |
| 2022-06 | 0 |  | members leaving |
| 2022-09 | 1 | 3rd-party paper>100% NW |  |
| 2022-12 | 2 | assets shrinking |  |
| 2023-03 | 2 |  |  |
| 2023-06 | 2 |  |  |
| 2023-09 | 2 |  |  |
| 2023-12 | 2 |  |  |
| 2024-03 | 0 |  | 3rd-party paper>100% NW, assets shrinking |
| 2024-06 | 0 |  |  |
| 2024-09 | 1 | delinquency rising |  |
| 2024-12 | 1 |  |  |
| 2025-03 | 1 | net worth falling | delinquency rising |
| 2025-06 | 1 |  |  |
| 2025-09 | 0 |  | net worth falling |
| 2025-12 | 0 |  |  |
| 2026-03 | 1 | net worth falling |  |

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

- 2022-07-08 [Royal Oak crime: Man arrested for masturbating near credit union; ICE agents pick up man who slapped Coney Island cook - The Oakland Press](https://news.google.com/rss/articles/CBMi8gFBVV95cUxNYzhFS085bDBVeERHQ09aaTRmNFdPQTNnVDRkdnNnY29lMjdYN3d0elZNZnh1eDhGOVNuTHBWcXVUNGc0TmR2YjlOTXA4Wk95alo3MjMtTVJQVjN5cFlwVlB5d0I0WG9EUjVWc3FSZnVUc1BtNENnUzBxZmNxNXJFSmVjZTlRUzJMak5iMXVHTXBiNDAtZms4WFUyUFpFVk00TnNZaERsSFRsTHNvczRsb0N5MHpoMmJXM05odUlGc0ZPamV2YnFTejFyMXBCdXhyMkM4UjVNUnprZzVVUTBYQmxrWkFadEg1T1h4NXhLdTZsUQ?oc=5) · The Oakland Press
- 2025-08-18 [Ronald Campau Obituary - Livonia, MI - Dignity Memorial](https://news.google.com/rss/articles/CBMiggFBVV95cUxNOEdDRmlnWE5MOXJSUFM1eHRQNlRXbGZ0SU00ZWNWMEdUMXRkTGFEVURuMVFwYzJyaGdubGJkMzlYTXcxam9LdVZiQjNNcEhiUUw4MWthZWZGZWsyRUprRE5rLXk5RHNHRC1wT1R4MmhSZ1hWaFoyT1hHaFhscEFrXzNR?oc=5) · Dignity Memorial
- 2023-09-15 [Largest Credit Unions in Metro Detroit - DBusiness Magazine](https://news.google.com/rss/articles/CBMijgFBVV95cUxNQXBMOEo3eWl2TThOTW1MMzRvcFZKczZyejFEUWFhSVlYNGVSQkwzMmpvZ011QWdrVEtncG5ZbWZWTzh4Sl9DbWo1LWFGY3pNbm5SSGFyVlpqbkVpM2FtOFRiNzVMVFZnNGZ5YS1iWTJvajBvd21Hc1M0bjNXMUtrOVVxN0Jkclh5cnRUS0lR?oc=5) · DBusiness Magazine
- 2023-03-16 [Bunnyville at the Detroit Zoo returns April 7-8 - Grosse Pointe News](https://news.google.com/rss/articles/CBMilAFBVV95cUxQTzZRTHlNU1VLRF93VDkwZlRRTFZRdHNRbFVvd3lHbGZITll2Y0ZJQ3B2ZnIyTXpUdDFhWTB2ckRFNXlkY05Zc0xrYlNxV0Y2R1FfbWM0amtmdkdhN0lCaFNlazFWRmV0S0JZeXRSem5rdkVuQ2lBVm11NVRQTjlqN2wwb3hGUWtuekxXTG9lc0xBUURk?oc=5) · Grosse Pointe News
- 2021-10-28 [James Edwards Obituary (1943 - 2021) - Venice, MI - Ann Arbor News - MLive.com](https://news.google.com/rss/articles/CBMijwFBVV95cUxQM0FhdzN5ZGpEc2RQMWczODBjTG9sclczVGxpS1kxOFNGYV81c3pBX2JWZk40b09oclp6WHJIMUdxM3lBbW5BLVJOYWw3Qm1RaUNOVDM4UENKeWNXVHpGNlhvaGFuSERtSUQyYW1LRFB3SHNtNi1raHN1VndEc3J4NlBlSXNGamUxLXIxdGszTQ?oc=5) · MLive.com
- 2021-11-01 [James Bruce Edwards Obituary - Hometown Life - Observer and Eccentric Newspapers](https://news.google.com/rss/articles/CBMiXkFVX3lxTE5RVTMxeVdGdm1WYmRSaUZCbjFXRDloSXBmanhnZ2ltYnNfQmg5Qy1zRXZmbHhrQnY1dkp6RWZ5eVctS2RackdYcTQzUmdQR3FlWWRlNEN6N2wtOTdRNGc?oc=5) · Observer and Eccentric Newspapers
- 2024-08-26 [Scholarships available through Midland Area Community Foundation - Midland Daily News](https://news.google.com/rss/articles/CBMinwFBVV95cUxOZXZjT3FPRUhzTVlSVDEyX3ZWd0haTk51VVdvR0JsUzAtSjJILVBTYi05NC1LVG80S1NSSksyZzV2OFhoeGpXTGNWVjVWanZ6YTNlU2syLWFqNGFjOHRCSE04WUxRektJSU1sMXlUclBXaURTMzI3ZlRzd21aUWw3UDE5WDVFaHVsTW1SN0NNbTJhd0g2WjMyU3h5Ylpoa0E?oc=5) · Midland Daily News
- 2018-10-02 [Here are all of the banks that currently support Apple Pay - imore.com](https://news.google.com/rss/articles/CBMid0FVX3lxTE9ZY3JkQUdrNTNjWmMzVFk2QXBlWExaRnI3bjVsQ28wVlFRWUc5TEVWMm5TWkZ6RmtKTTNZRUhKbExyS25yb2pnRTc5VklBeW13Mzk0aU9MWVNGbHpiMDJUM1pfOVFvdFhCdGpNLUJQVG9ybXYzNlc4?oc=5) · imore.com

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=60931 (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/3.json (key "60931", 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=60931
- 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