# 121 FINANCIAL
Jacksonville, FL · NCUA charter 61605 · asset band $500M-1B · latest filing 2023-12 · stopped filing after 2023-12 (departed; for a credit union that is almost always a merger)
Share link (named URL with a preview card): https://getbookiq.com/cu/121-financial-61605

Who the members are: state charter, organized 1935, low-income designated. 49,909 members of 2,275,815 potential (2.2% of the field); checking penetration 67% (share draft accounts per 100 members); loans per 100 members 41.

**Verdict on the desk:** this could be *indirect buyer*. 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 | $693.8M |
| Members | 49,909 (1.8% YoY) |
| Full-time staff | 135 |
| Net worth | $64.5M |
| Net worth ratio | 9.3% (p30 of band) |
| ROA (annualized) | 0.27% (p21 of band) |
| Total delinquency | 1.08% (p83 of band) |
| Net charge-offs (annualized) | 0.75% (p85 of band) |
| Loans / shares | 89% (p55 of band) |
| Cash / assets | 12.0% |
| Borrowings / assets | 12.97% |
| Net interest margin | 3.90% (p92 of band) |
| Operating expense / assets | 4.38% (p90 of band) |
| Vehicles % of loans | 33% (p50 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 66% |
| Third-party paper % of net worth | 192% (p64 of band) |
| Vehicle delinquency | 1.34% (p80 of band) |
| Vehicle NCO | 1.82% (p95 of band) |
| Repossessed % of vehicle book | 0.20% (p82 of band) |
| Real estate % of loans | 34% |
| Credit cards % of loans | 5% |
| Unsecured % of loans | 7% |
| Commercial % of net worth | 152% |
| Core shares % of member funds | 55% |
| Certificates % of member funds | 16% |
| Average share balance | $5,401 |
| Participations bought / yr | $11.1M |
| Participations sold / yr | $0 |
| Participations outstanding | – |
| Loans outstanding per 100 members | 41% |
| Loans granted per 100 members, annualized | 8% |
| Average loan balance | $23,881 |
| Loans granted, annualized | $150.9M |

## Flags firing in the latest filing

- **delinquency rising** (`aq_dq_rising`)
- **leaning on borrowings** (`str_borrowings`)
- **3rd-party paper>100% NW** (`str_thirdparty`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 1 | 3rd-party paper>100% NW |  |
| 2016-06 | 3 | losing money, leaning on borrowings |  |
| 2016-09 | 4 | net worth falling |  |
| 2016-12 | 5 | loans>95% of shares |  |
| 2017-03 | 4 |  | loans>95% of shares |
| 2017-06 | 4 | members leaving | net worth falling |
| 2017-09 | 4 | delinquency rising | members leaving |
| 2017-12 | 4 | thin capital | delinquency rising |
| 2018-03 | 5 | net worth falling, delinquency rising | losing money |
| 2018-06 | 3 | members leaving | thin capital, net worth falling, delinquency rising |
| 2018-09 | 3 |  |  |
| 2018-12 | 4 | loans>95% of shares |  |
| 2019-03 | 4 | delinquency 2x band | leaning on borrowings |
| 2019-06 | 2 |  | members leaving, delinquency 2x band |
| 2019-09 | 3 | expense trap |  |
| 2019-12 | 3 |  |  |
| 2020-03 | 3 | losing money, charge-offs p90 | loans>95% of shares, expense trap |
| 2020-06 | 6 | thin capital, net worth falling, expense trap, delinquency 2x band | charge-offs p90 |
| 2020-09 | 4 |  | net worth falling, delinquency 2x band |
| 2020-12 | 2 |  | losing money, thin capital |
| 2021-03 | 5 | thin capital, margin squeeze, delinquency 2x band |  |
| 2021-06 | 5 | net worth falling, charge-offs p90 | margin squeeze, delinquency 2x band |
| 2021-09 | 3 |  | net worth falling, charge-offs p90 |
| 2021-12 | 3 |  |  |
| 2022-03 | 2 |  | expense trap |
| 2022-06 | 1 |  | thin capital |
| 2022-09 | 2 | delinquency rising |  |
| 2022-12 | 3 | expense trap |  |
| 2023-03 | 2 |  | expense trap |
| 2023-06 | 7 | thin capital, net worth falling, charge-offs p90, repo signal, leaning on borrowings |  |
| 2023-09 | 2 |  | delinquency rising, thin capital, net worth falling, charge-offs p90, repo signal |
| 2023-12 | 3 | delinquency rising |  |

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

- 2023-04-20 [121 Financial Credit Union to merge with Vystar Credit Union - Action News Jax](https://news.google.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?oc=5) · Action News Jax
- 2023-04-20 [VyStar Credit Union Announces Intent to Merge with 121 Financial Credit Union - Business Wire](https://news.google.com/rss/articles/CBMizwFBVV95cUxNRlJkVXRNZGlOUmxpZVZjbm5oNFViWkdTRVR2cVBBMm5BeHpYeWg5UlpqUHRkeWMxaDFvX2dsUGZfTWQ1RV9VdXI5ZXRSYXBwdEh2N25IN1RkZmZYRmJDQmhjMkNYWTl6Tm5UanQ1WHo2ZjlTSm5VejhNMHpfRlViV1N1Nkc5eUZxME1iT09GY1FqcVg1TWozVzdYWm5hNFl1Q1QxdWxoelJKdkpLVFVFTnAySHZrZ1lXblg3aW5WdlNzTjRwbHhITkVWLWJVaEE?oc=5) · Business Wire
- 2026-03-25 [See Scampi, the mascot for Jacksonville Jumbo Shrimp - The Florida Times-Union](https://news.google.com/rss/articles/CBMixAFBVV95cUxQNDJaSHhKWkZwQlVwSDJrNlRuNlliYkd2R1dxTndVM21KV0ozelZiUm9XdVllYllFU1dBWmhyZzBnNEZiZjMtNmdrT2pDWlhnUkVrRGFyVTRYX0lQcXdNSlk4QmpyWm9BenJ1MW5FTjdzc2E5Tl9jU1NfT1lQZEt0UlZmS1kxU25HQnRNcHNIem42dGhnblVGQlF6TkJ5dVhBcTJuUS1xd3NoOHdqd2lTbHNnSUs0RFFBakVGTFRCbjZqTDNr?oc=5) · The Florida Times-Union
- 2024-01-29 [After 89 years, 121 Financial Credit Union is merging with VyStar March 1 - firstcoastnews.com](https://news.google.com/rss/articles/CBMi4AFBVV95cUxNMWlXU1RZX015djhlVll6Q2xVVnJpdmxvVDZmUkp5Y2E4Q1Vlc3RzUGd2dld5aDRteV9HcEJONEI3aE82VjhqTTg3MHhKbkd5TFpwTklrU3J0eVZ1WHJ4aGRVa3ZFcEVsdVB0N1ZKczZYbmwwRVlPN3A5TE82UHJoSmZydlpkbjhGamIzNUlvX0VSRWxMYmlBX09FNERIZ0dvODdOdEhuS1pPdXlIY0NGRkM5THZUcW9YWnF3dGFrTGZMSkk1YTIzY2lzZlhFY2hTVG5FYVk3UTVoeEFZNy00Vg?oc=5) · firstcoastnews.com
- 2023-04-20 [VyStar Credit Union merging with 121 Financial Credit Union - Jacksonville Daily Record](https://news.google.com/rss/articles/CBMirAFBVV95cUxOdkNjTlJkejFVNG4tS0JBR0ZmMnFoZkk2RVJHdzJnVmgyZlZ6Mm5RbDV5TjNiUENfV2o2Q0VPWnRNQVVibkI1ZkZ6V0FwYmNYeUhiVFBEdGVPcjFLV1p2aEdEMmxzSjczS0JfQXJrVlpHY3lSVENNSU5WUUJ0c2VMMVhDLXg1T18ybGVkTVN0amd4ajlpMEpLb0FjYzQ0aXFEQ0NIbURQaFVjT0ZE?oc=5) · Jacksonville Daily Record
- 2024-01-30 [121 Financial is merging with VyStar and not all members are thrilled about it - News4JAX](https://news.google.com/rss/articles/CBMitAFBVV95cUxPN0ZhRzNmZmd2cDVpN0dWbDdtT1NROE1mSnd1YnFaZEI0bzV3TVF0VHpoMUxqcXVkT09yNm92OGNsYnVyM0FhNWV5amFrenZSNVRtYnB0TlV2cUJ5QVNTMXJKczNua0Q2Rl90dGJTdDROc2l6ODhHb0t0RTJrVHphRTdPLWw3eklmQTRVRldhWUVRUHpJM2gycTdQSWk4d2h2WWFUV2lHNHczMmE4WmViVHJEZWk?oc=5) · News4JAX
- 2024-12-05 [121 Financial Ballpark becomes VyStar Ballpark - MLB.com](https://news.google.com/rss/articles/CBMifEFVX3lxTE5xb0lkQTlTejZEb1c3MlBWWXBqWV9Hb0xnV2ItOC13blFJYjlwckJLdkJEUm5KTkFudUw3Sk12REthWmQ0bVdtVmJkNWRaVUl6ekRtcUhLbHBaLWIxTUFUQkgwbW9RMHN0bV9xWmdNU3ZMbTBFaFg5RFpGVW0?oc=5) · MLB.com
- 2023-04-20 [VyStar Credit Union merging with 121 Financial - JaxToday](https://news.google.com/rss/articles/CBMikAFBVV95cUxOUEVjbjc4X19CS2tPaE5UWHd4dU12S0NZQmZVZkUxcnpWOWtTZUUtbzhVRktXakl6ZHN4ZlF3eGpCN0Nxak90TVp5dGI4S1FYalZMNHBBeHlEcXVBZUFYYkVHSi05UGFQR3dIazhoNEpZTHdOSFdDN0R4a2ktcVIzNS1wYktSUkRfX2wzSnZrbUc?oc=5) · JaxToday

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=61605 (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/37.json (key "61605", 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=61605
- 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