# 4FRONT
Traverse City, MI · NCUA charter 61365 · asset band $1-10B · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/4front-61365

Who the members are: state charter, organized 1954, low-income designated. 104,651 members of 10,127,884 potential (1.0% of the field); checking penetration 63% (share draft accounts per 100 members); loans per 100 members 40.

**Verdict on the desk:** this could be *indirect buyer*. 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 | $1.02B |
| Members | 104,651 (-0.6% YoY) |
| Full-time staff | 271 |
| Net worth | $101.7M |
| Net worth ratio | 10.0% (p33 of band) |
| ROA (annualized) | 0.34% (p18 of band) |
| Total delinquency | 1.62% (p95 of band) |
| Net charge-offs (annualized) | 0.37% (p32 of band) |
| Loans / shares | 79% (p30 of band) |
| Cash / assets | 7.1% |
| Borrowings / assets | 0.00% |
| Net interest margin | 4.50% (p97 of band) |
| Operating expense / assets | 5.53% (p100 of band) |
| Vehicles % of loans | 28% (p54 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 68% |
| Third-party paper % of net worth | 154% (p55 of band) |
| Vehicle delinquency | 0.72% (p61 of band) |
| Vehicle NCO | 1.62% (p77 of band) |
| Repossessed % of vehicle book | 0.05% (p42 of band) |
| Real estate % of loans | 37% |
| Credit cards % of loans | 0% |
| Unsecured % of loans | 5% |
| Commercial % of net worth | 161% |
| Core shares % of member funds | 64% |
| Certificates % of member funds | 17% |
| Average share balance | $4,301 |
| Participations bought / yr | $10.3M |
| Participations sold / yr | $7.6M |
| Participations outstanding | $24.1M |
| Loans outstanding per 100 members | 40% |
| Loans granted per 100 members, annualized | 11% |
| Average loan balance | $17,325 |
| Loans granted, annualized | $228.9M |

## Participation posture (from the same filings)

Bought $10.3M and sold $7.6M in the latest annualized quarter; $24.1M outstanding purchased (23.7% of net worth), $20.2M sold and retained. Sold in 4 and bought in 8 of the last 8 quarters. Shares 1.7% year over year.

## Flags firing in the latest filing

- **expense trap** (`earn_opex`)
- **delinquency 2x band** (`aq_dq_high`)
- **delinquency rising** (`aq_dq_rising`)
- **3rd-party paper>100% NW** (`str_thirdparty`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 2 | charge-offs p90, 3rd-party paper>100% NW |  |
| 2016-06 | 1 |  | charge-offs p90 |
| 2016-09 | 1 |  |  |
| 2016-12 | 1 |  |  |
| 2017-03 | 2 | net worth falling |  |
| 2017-06 | 2 |  |  |
| 2017-09 | 1 |  | net worth falling |
| 2017-12 | 1 |  |  |
| 2018-03 | 1 |  |  |
| 2018-06 | 2 | expense trap |  |
| 2018-09 | 3 | loans>95% of shares |  |
| 2018-12 | 3 |  |  |
| 2019-03 | 2 |  | loans>95% of shares |
| 2019-06 | 4 | net worth falling, delinquency rising |  |
| 2019-09 | 3 |  | delinquency rising |
| 2019-12 | 2 |  | net worth falling |
| 2020-03 | 4 | delinquency 2x band, delinquency rising |  |
| 2020-06 | 6 | net worth falling, margin squeeze |  |
| 2020-09 | 6 |  |  |
| 2020-12 | 5 |  | expense trap |
| 2021-03 | 4 |  | delinquency rising |
| 2021-06 | 2 |  | net worth falling, margin squeeze |
| 2021-09 | 2 | charge-offs p90 | delinquency 2x band |
| 2021-12 | 2 |  |  |
| 2022-03 | 1 |  | charge-offs p90 |
| 2022-06 | 1 |  |  |
| 2022-09 | 2 | delinquency 2x band |  |
| 2022-12 | 4 | expense trap, leaning on borrowings |  |
| 2023-03 | 5 | delinquency rising |  |
| 2023-06 | 4 |  | leaning on borrowings |
| 2023-09 | 5 | thin capital |  |
| 2023-12 | 5 |  |  |
| 2024-03 | 4 |  | delinquency rising |
| 2024-06 | 2 |  | delinquency 2x band, thin capital |
| 2024-09 | 3 | assets shrinking |  |
| 2024-12 | 3 |  |  |
| 2025-03 | 3 |  |  |
| 2025-06 | 2 |  | assets shrinking |
| 2025-09 | 2 |  |  |
| 2025-12 | 4 | delinquency 2x band, delinquency rising |  |
| 2026-03 | 4 |  |  |

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

- 2023-01-11 [Michigan credit union eyes bank in sector’s 1st tie-up of 2023 - Banking Dive](https://news.google.com/rss/articles/CBMiogFBVV95cUxQTzdZX0dLVGR6Qkpub3ZTWWY4SzdybUZkOGlneU9qQlZweUxRWXZQTXo0NktRWl9QbDg3SFNSRGZ4Z09iZnN2cWpkeHdtRWVvU3FQQ3FPejc2UHY4WURhNWRHd0xSLS10OGRnTzdIQXZYWkJZMDA4RFNlUXVzTGgxY3cyVlQ4enZ4ZjhVUnZQTy1Zc1pEZGJEUlpmWS1tNXJicXc?oc=5) · Banking Dive
- 2022-02-15 [Red Hot Best 2021: Northern Michigan’s Top 7 Banking Institutions - mynorth.com](https://news.google.com/rss/articles/CBMilAFBVV95cUxPeHZkRUJzRUpodHRiMEZ5WVF5ZU5ual9WV0R6cjNBTUZvcER1M2VRN3VHOUcxcVhCWmRfZVJ2NW85eVVRWVJ5MTJSQUhVM2ZpNlNvdWZaekVRVEQ0ZktQRnN5eUNXdG92bHp2NHV2Q205OFdEc3pJdldLQVRIbGVjY09yckNMSW1YaC10MmxNUnA3QUxn?oc=5) · mynorth.com
- 2021-09-15 [Developers Break Ground On Riverfront Mixed-Use Development In Downtown TC - The Ticker](https://news.google.com/rss/articles/CBMisAFBVV95cUxNb3IyaW9GMVF0YlJwVW1GUFRvWF9tQUo4ZWZTYjRiSlR2SGsxXzlGdDh3LXM4WE9ZZHRNQm5UR1J2ajRlMEVaSmhWbWRwYWUzSzdSUTAxZ0lDSXhpX2lQVGRhZ2ktY0RrLS0wVml0OE9BRVF4RjlwYjZLVWlXc1JnRkJHc1hTN3pJNDJDRnJBal95b3ZGRHlsSTM1UXBqN2E3eUswYTBLQU9VV2doeWlybg?oc=5) · The Ticker
- 2015-12-15 [Kathleen James Obituary Dec 15, 2015 - Mortensen Funeral Homes](https://news.google.com/rss/articles/CBMicEFVX3lxTE1nS0FuNHZ2MWdMMUhDaHRLOFhzUWh4NmhNLVFMcnV5YWk0MVp3TS1LTWI5ZmlmQlMwNFB5VS1qbTFTUExibHF2Z1B0NE05RVFadUt6UmhNRmoyd0pQbEhnRlc2djFRSjRFdEpvdXYxdGE?oc=5) · Mortensen Funeral Homes
- 2022-12-20 [Michigan man claims he was recruited to cash fake checks, police say - MLive.com](https://news.google.com/rss/articles/CBMiqwFBVV95cUxOb1hrVVctQTZKd2Z0SlViUE41WUlod2NKem9CR0JTdTdBYlBpMWZBeEc2U3FhTDdpWDVoMmNrbm9nZHRaaFZjZWpldDl2VnZiSWhzMWU3anl5dXVoREFaRUtXRjdxWDV3YlNqcTY4UExlYVhNaExSazhXSlc1S25zcEFseWoxU3I2Sm9xUnowdmt3cEQ2VDhxY0Fzemd2TkRudzF2X1Rnc1F6RFHSAb8BQVVfeXFMUC1naEV2d0EwUHp3YkJGdDV1dmJ0dWMxNGZvQnhoMldLeng3bDF5TWpYT2RmUlc2aXNNQzBhZVJuczlHM3IzNDJtMkhIREdvSTdOM04ycDk3cHNOeld1Q2pYM2I0akNxZktQbThfanBpN0xCU3E1cUlsT3R2Rm54Zll1N0hfWVM4YlA2ZVMyOWZnYW1wVF84SUNORXJVVXQ5aDhGMDZZMEdCWEFNcE4xZXU5V0ptQllFbmhjSmVZNjQ?oc=5) · MLive.com
- 2022-08-23 [Doris Maxwell - Petoskey News-Review](https://news.google.com/rss/articles/CBMiYEFVX3lxTE4yUWlIdUh5NVdHZkRad1E5ZFcwTHhkcTROcGUweFZEOXZpZFR6ZC1Sb0tSOWkzcDhfS3dBdDlfZVJoM2FuQjBneUpyZWV0WnpocXA0OGNPZWpqdHdSWGhhVg?oc=5) · Petoskey News-Review
- 2015-01-28 [Jessye Amman Obituary & Funeral | Traverse City, MI - Life Story Funeral Homes - Traverse City](https://news.google.com/rss/articles/CBMiZEFVX3lxTE01TzBBZzJJTTdVd1h0ZXQ4ZXFGVElJUnJ0VkdDeElsNjhQZTNVQWtVenBZdHBFR3FRTHdrQjVCWlVYblJXOWp4NjBhS0tkQXRyNk5LOWNPMFFXT2NBamNjd0wzTUw?oc=5) · Life Story Funeral Homes - Traverse City
- 2024-11-05 [Kelly Dunham Resigns From BATA - The Ticker](https://news.google.com/rss/articles/CBMidkFVX3lxTE4zdERRZW1QZm1URUs5YUZrMzhkOWxwR1ZaU1ZoMVVUNDVCSlpVdnp4STBZLTFOREpVVl9vWS1HM3o4U1VjN1BiZlh4RXRVRkZPc0F3c0lNYUY2TTJfT25yWm0yX2JsSWdNVEJLWjkzZWFQZ3BPUlE?oc=5) · The Ticker

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=61365 (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/53.json (key "61365", 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=61365
- 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