# FIRST GENERAL
NORTON SHORES, MI · NCUA charter 61455 · asset band $50-100M · latest filing 2021-03 · stopped filing after 2021-03 (departed; for a credit union that is almost always a merger)
Share link (named URL with a preview card): https://getbookiq.com/cu/first-general-61455

Who the members are: state charter, organized 1953, low-income designated. 5,527 members of 173,588 potential (3.2% of the field); checking penetration 46% (share draft accounts per 100 members); loans per 100 members 65.

**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 | $61.3M |
| Members | 5,527 (-8.1% YoY) |
| Full-time staff | 13 |
| Net worth | $8.4M |
| Net worth ratio | 13.7% (p83 of band) |
| ROA (annualized) | -0.26% (p6 of band) |
| Total delinquency | 0.35% (p50 of band) |
| Net charge-offs (annualized) | -0.09% (p7 of band) |
| Loans / shares | 61% (p64 of band) |
| Cash / assets | 27.7% |
| Borrowings / assets | 0.00% |
| Net interest margin | 2.79% (p72 of band) |
| Operating expense / assets | 4.43% (p92 of band) |
| Vehicles % of loans | 39% (p43 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 68% |
| Third-party paper % of net worth | 101% (p82 of band) |
| Vehicle delinquency | 0.50% (p66 of band) |
| Vehicle NCO | 1.09% (p91 of band) |
| Repossessed % of vehicle book | 0.00% (p39 of band) |
| Real estate % of loans | 42% |
| Credit cards % of loans | 5% |
| Unsecured % of loans | 6% |
| Commercial % of net worth | 0% |
| Core shares % of member funds | 52% |
| Certificates % of member funds | 17% |
| Average share balance | $4,972 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | – |
| Loans outstanding per 100 members | 65% |
| Loans granted per 100 members, annualized | 7% |
| Average loan balance | $8,877 |
| Loans granted, annualized | $11.5M |

## Flags firing in the latest filing

- **losing money** (`earn_negative`)
- **expense trap** (`earn_opex`)
- **members leaving** (`shrink_members`)
- **3rd-party paper>100% NW** (`str_thirdparty`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 3 | delinquency 2x band, 3rd-party paper>100% NW, auto monoline |  |
| 2016-06 | 4 | losing money |  |
| 2016-09 | 5 | expense trap |  |
| 2016-12 | 7 | net worth falling, charge-offs p90 |  |
| 2017-03 | 7 | assets shrinking, loan book shrinking | expense trap, charge-offs p90 |
| 2017-06 | 6 |  | net worth falling |
| 2017-09 | 7 | members leaving |  |
| 2017-12 | 8 | expense trap |  |
| 2018-03 | 5 | net worth falling | delinquency 2x band, losing money, assets shrinking, loan book shrinking |
| 2018-06 | 3 |  | expense trap, net worth falling |
| 2018-09 | 6 | losing money, expense trap, delinquency 2x band, assets shrinking | auto monoline |
| 2018-12 | 4 |  | delinquency 2x band, assets shrinking |
| 2019-03 | 6 | net worth falling, assets shrinking |  |
| 2019-06 | 4 |  | expense trap, net worth falling |
| 2019-09 | 3 |  | assets shrinking |
| 2019-12 | 3 |  |  |
| 2020-03 | 3 | net worth falling | losing money |
| 2020-06 | 3 |  |  |
| 2020-09 | 3 |  |  |
| 2020-12 | 2 |  | net worth falling |
| 2021-03 | 4 | losing money, expense trap |  |

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

- 2021-02-12 [Merger to expand Community Choice's foothold in western Michigan - American Banker](https://news.google.com/rss/articles/CBMirwFBVV95cUxPR3pzLXVGTXF5MXhGNmxhY0FseUhOcTVUcHcxUnRUUGVWN1ZJZ0VLR1NVejFEdkFwR1ZzclR4SlQxYmhvTjJ1cVhTcWV3bVJMRUs1VFdSTTRRY2Z1anVsU0NjNFdob2FOcm93WDFvVk9lTmU1Z0EtTEduNVhaTXlpYjZCaUhvWVNDdTNHUV9OZlcxTDZTcG82ZmwwZmJPcU5Da3FpYjRmWVJKZ3BaMmUw?oc=5) · American Banker
- 2022-11-20 [Community Choice CU eyes continued expansion in West Michigan market - Crain's Grand Rapids](https://news.google.com/rss/articles/CBMiwgFBVV95cUxPQUU5QnJtdW9YTmtDRWd2OEtVcUN0cktWTEJ5X3BIRmQ2LWVOQ2NPN0d3dFJuRlJMeVA3aUVEWU03YzliU0dRcjdkZ0lKejR4VXd0dG5wNEJHQ2FKQ2JZWkZuajVBRmpYOUVsRjlkOGRDajlqU2h6cTBGbWxEaXVTRmd0a1JSN1ZWV0lCbnF0OWhTWmFudHNyWDdwcUM1QmJ5b3VjSkd6X3VTRWx5NXhsQ1J5Zl9QdFFUaVYzdFpHN2pldw?oc=5) · Crain's Grand Rapids
- 2025-07-25 [Detroit PBS names a trio of new members to its board of trustees - Detroit PBS](https://news.google.com/rss/articles/CBMitgFBVV95cUxNZHlQcHZBaDc5ZDUydkZaR1F6M29zRlZpRDJhYnI1elNqSWZPQlZTZjV2eUNQQjI3c01pZDNrdDU0aExrRUVNYnZNa2hCREZyMTFoeFJaTTBQbVpaZFZvVzN0bDVVZUs0d1RDMmNKMVdtUGRFZFItQWtkUWpfSUl2bmZDSlpTYjNEclg2bG1tajNTUTJOcklQQk1iSnNFNjdwZkluT0xMWURGU1AwTjJkY1N4U0NFdw?oc=5) · Detroit PBS
- 2017-02-08 [The Exchange: First General Credit Union - WZZM13.com](https://news.google.com/rss/articles/CBMixAFBVV95cUxQSHFXRllBRG5yOWxvRDFMOUxhV1B6VnI3WjZiNEU0UlF4MGota3prZ0wyR3J3aUNsbFBaS0htYmZuVTlXYzJ5N1dVZlhTR19uT3lza1ZVRHNlclNPRHQxeWlaNnFmSENWeS03WUYzSFprQ3B0VHlqMUMtRkpZdDZGdGJnbWZBcFBvWm9hT295UFFqTUFoRGhZNS1qQ1YzTXFnd1ZZX3RZQTh6TG9TRG5lZ3VQV0Q5NFBGNU1qZTFKdFpYcjEx?oc=5) · WZZM13.com
- 2025-01-21 [Jason Aldean Announces ‘Full Throttle Tour’ - Pollstar News](https://news.google.com/rss/articles/CBMihgFBVV95cUxNSXdXa2d1OG9FNzZmaE43WnliTVV3Q0xRMHNteU0tRHhRX3Yyd1FxZmU4M2VJdEdLY0U1Q1djNG1kcndRTXk1dm1YUVBfXzRCRl8wQTZ2bERmUjZ6SDJYeUhNOXJJZVpRNDgxMVdUSzgwdl93QVZ1UktzV25YZzNyNElaNnZSZw?oc=5) · Pollstar News
- 2025-01-21 [Jason Aldean’s ‘Full Throttle Tour 2025’ Kicks Into Gear In May - MusicRow.com](https://news.google.com/rss/articles/CBMilAFBVV95cUxNM0xaR3U2VDNzTFh4bUJsNU9mVjN0SExUZ0lfQXZYMVBSZXMtSTNZRWFXYWdxcXc0SVZVNjN1RDhPZWVZTU00TEd3TlZDM2xuTXdsUTQ5QjJIdVBTOGlvSF9aMTlTSnZabERkTWVuSGJCQmhUT29oTGg4c3hqRDM0R1JtVnlPbmR0U1pXeEdjRHk5dndo?oc=5) · MusicRow.com
- 2025-01-21 [Jason Aldean Announces "Full Throttle" Summer Tour - countrycentral.com](https://news.google.com/rss/articles/CBMiiAFBVV95cUxNSFZOd2pvUGY1Nzg3VzR6NWNxb003SWZBUWxGSnpMS19ScF9RNUpJRC1fa2x3ajl6bnFVNkQ2bC1KTTFaeXljY1ZuMXV4c3pxZk0xOEY1dHBpWUl0SzUzRmtQeXVNOHBRSVB0UktibEQ1UmNLYkJXczBFTlp2aGpUM3FlUEFuNGEy?oc=5) · countrycentral.com
- 2025-01-21 [JASON ALDEAN ANNOUNCES ‘FULL THROTTLE TOUR’ 2025 POWERED BY PATRIOT MOBILE - BBR Music Group](https://news.google.com/rss/articles/CBMiogFBVV95cUxNRVJISmh2MW5na1l5LV9ra0VwT2VHcEd6SkxYNWY4VlkzV00yZW9BNTRBYkFtYU1haWt3eWZPV2FJYVZka1JuVTZFY0pUdDNHR3c3VHRjWE84bFlQT1luUnI4NVJXU2VBbXZndjF2dVpsUnYyaXlPaFYzRlNiQTFWQzdtUUdSNm01SmhjY0EyNkRkQXdndVYzQ0kzY1MyQVRNNkE?oc=5) · BBR Music Group

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=61455 (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/15.json (key "61455", 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=61455
- 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