# ELGA
Grand Blanc, MI · NCUA charter 61797 · asset band $1-10B · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/elga-61797

Who the members are: state charter, organized 1968, low-income designated. 117,117 members of 9,986,857 potential (1.2% of the field); checking penetration 77% (share draft accounts per 100 members); loans per 100 members 78.

**Verdict on the desk:** this could be *fortress*. 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 | $2.47B |
| Members | 117,117 (17.3% YoY) |
| Full-time staff | 421 |
| Net worth | $438.2M |
| Net worth ratio | 17.8% (p98 of band) |
| ROA (annualized) | 0.92% (p68 of band) |
| Total delinquency | 1.13% (p85 of band) |
| Net charge-offs (annualized) | 0.82% (p78 of band) |
| Loans / shares | 81% (p34 of band) |
| Cash / assets | 9.7% |
| Borrowings / assets | 7.42% |
| Net interest margin | 3.11% (p37 of band) |
| Operating expense / assets | 3.21% (p49 of band) |
| Vehicles % of loans | 28% (p54 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 52% |
| Third-party paper % of net worth | 60% (p27 of band) |
| Vehicle delinquency | 2.24% (p97 of band) |
| Vehicle NCO | 1.69% (p79 of band) |
| Repossessed % of vehicle book | 0.03% (p34 of band) |
| Real estate % of loans | 33% |
| Credit cards % of loans | 4% |
| Unsecured % of loans | 7% |
| Commercial % of net worth | 85% |
| Core shares % of member funds | 45% |
| Certificates % of member funds | 18% |
| Average share balance | $7,131 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | $5.7M |
| Loans outstanding per 100 members | 78% |
| Loans granted per 100 members, annualized | 19% |
| Average loan balance | $17,661 |
| Loans granted, annualized | $350.6M |

## Participation posture (from the same filings)

Bought $0 and sold $0 in the latest annualized quarter; $5.7M outstanding purchased (1.3% of net worth), $3.4M sold and retained. Sold in 0 and bought in 0 of the last 8 quarters. Shares 69.4% year over year.

## Flags firing in the latest filing

- **net worth falling** (`cap_falling`)
- **margin squeeze** (`earn_nim_squeeze`)
- **leaning on borrowings** (`str_borrowings`)

## Warning timeline

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

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

- 2022-03-04 [ELGA Credit Union names new Vice President of Consumer Lending - CUInsight](https://news.google.com/rss/articles/CBMipgFBVV95cUxOay1pcTZ3ODZETzg0cU5IQjNMN2FQTFcyWjdjYTFYbnluMHVNaEFjUFVRUTU2d2twcllIUmJuSkV5Vy1mSVozWTVoTUtsOXNFdDNYcWh4VTI4YmpsSjFvbG4yOU8td05Qc1U1TUhKVXlKSkZLeTZDLVhyemhSX3RiSUptaVg2MHAtRGhoaGtfMlgtSEdKNFFGMFF5c2VsSVhuTEF3LXVB?oc=5) · CUInsight
- 2025-10-03 ['Victim Compassion Fund' Established by Grand Blanc Officials, Church - WHMI](https://news.google.com/rss/articles/CBMiogFBVV95cUxQR1RrZXRVWW9RYWRHWDlGVW9TdS1QaWJsaEUyTGtBZ0loN3VWeWJiNFFBdTVUWDh4aC1DXzYtSHNZTXFlUlBkbmZYTmhMZmdkdE1OQklsRktmWlVkMlR5OW92YUVDYnFjMWFnTXNPRTJFWmI1OURFWHloUF9mSTlwaEpMT1hBVExfTmFaa2RBSDhmZFZCTmh6NTF4RTlDZ3g5cGc?oc=5) · WHMI
- 2025-08-01 [ELGA and COPOCO credit union merger is official after vote - abc12.com](https://news.google.com/rss/articles/CBMi3AFBVV95cUxNV1N6X2JSS2Z2LWVSR044SW1rX0VXZ2tZRzJUdzRSd3AySTJvelJFMHZ6bTBQSVhrTjROMG1XSTJQSHNTbVpLZ3BfSTJ3Q1pFR2VHQjd1cE1jeF9jeHFydy1KVUhLRDdlcDd0SmRCOXdZU0lpRVZ3enVJOXVILWFnaDZVQ1U3d1RmWURxRWNlMTkzRjMwUnh1WEF4N1ZFc0FsSkoyUlFxTEJBY3l1VEQwVU5Lbm5nMUtmZUFJbmlFU1JhVzFhcmVXMkJRM21iVU45dVVKYmN1bXdJWEly?oc=5) · abc12.com
- 2025-08-05 [2 Michigan credit unions are merging to create a financial powerhouse - MLive.com](https://news.google.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?oc=5) · MLive.com
- 2025-01-22 [2 Detroiters arrested in check fraud investigation at Oakland County credit union - CBS News](https://news.google.com/rss/articles/CBMid0FVX3lxTE9Qc1pWaFFoMHB3d0JkRHI1M05lMnlfWEFfMUdvUmRXWWZvbzRuWlNsMlNzUlpwNUdEbnNCRFBZd3dNcXFIRk8xZ0U0eWZxQWtnWDk0TmNxM2Q0MGhMMUYxOEI1NjhmSDR6ek1BSktWMC1veVFtZ3pj0gF8QVVfeXFMTVl0LVdQTlBkaDhLVEI5dV9jdWd2UTMyUGJubF8wVkJfR3JQV3R1WWhEWWlud1pMUVBIc1kxaEVjbmY0a040cVJ0Sm1rYWwyX1Izc1FsQ3NRTVV3OVJSRjVNdGdiQ3IwaXBNVzQzdkRtVHQ0aXVHMGVubDVydg?oc=5) · CBS News
- 2017-06-05 [ELGA Credit Union holds grand opening for new branch - WSMH](https://news.google.com/rss/articles/CBMilAFBVV95cUxONWhoSnYwS0ZlT2dfcHItUWRzcXlqQkdwdFo2Z1c5Ti1LNHdfdU5jallMQzd2aWdwa1hKaF84clROS2xjQ3MtRFVPWVNyT0xzUG1IblVpU1o3ai1JTkE2bi1GSHJDVWtXSzhfNHZPTnVPQ05qNGdXelNhcFBKOE5DYlVITG5HaDNZYTZLd2tZbHBZclRL?oc=5) · WSMH
- 2022-04-20 [ELGA Credit Union Celebrates Grand Opening of New Headquarters in Grand Blanc - wcrz.com](https://news.google.com/rss/articles/CBMickFVX3lxTFBIX0xlWkVEMFJSSVZhSl8tSlVORmZGeTlNWGZMbm4yS3ZybThMd3RiTVh3cjFXMGZpNjBuMzVPQ0tUb3k5LXhnM3NEQ2VWdE5tSnFDYUJlSDd0bzZ6NWNockZtREhrTkRRdWYzeEpEQkhKZw?oc=5) · wcrz.com
- 2022-02-27 [ELGA Credit Union CEO Karen Church retires after 45 years - MLive.com](https://news.google.com/rss/articles/CBMipgFBVV95cUxQQm1lTnpLNWljSTk5SXRJcjZfb0FDdDU2VEx3Rl9lLWpheUxDWE5RUUEzdnFHMUliNTNGUFYySlZlbTJoazNYMldoLUZfaFMwYzVTbXpEREhrODlfYnB4eVVndE1lcVRNbGZ0U0pKd2FVVFgya1R4QTNBZ283VXlBSms0c0hKQkY2ak9sbk96VG5KUldOdFFEbmx0Y3JEcDdmdGhDS09R0gG6AUFVX3lxTE9LQ3E4M2Q5ZWtMWEI4VmpIRnoxQkg4Z3dIaHk3ZndtNUZLMHJjYlI4QUQ0RzNzME1FYlYzbzNETXhtb1VPUVo3SmEyb091UEJCRFJXb3BpTTV0amdaTG1MNGZZSHNNUjhTNC1UdWVFS09XblYtREtEMHBmekJmdWlCd2dGdW1TWXJ5TVcxdlI2S2lIS3FOX1hPR2s1bDFvbFNDZ0NQWlhYbVZNdW8tQzFjcVVPNzhyTjlIZw?oc=5) · MLive.com

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=61797 (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 "61797", 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=61797
- 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