# WOLVERINE STATE
Alpena, MI · NCUA charter 62203 · asset band $100-200M · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/wolverine-state-62203

Who the members are: state charter, organized 1966. 9,724 members of 10,127,884 potential (0.1% of the field); checking penetration 77% (share draft accounts per 100 members); loans per 100 members 83.

**Verdict on the desk:** this could be *ordinary*. 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 | $169.1M |
| Members | 9,724 (1.7% YoY) |
| Full-time staff | 47 |
| Net worth | $16.3M |
| Net worth ratio | 9.7% (p24 of band) |
| ROA (annualized) | -0.54% (p4 of band) |
| Total delinquency | 0.41% (p33 of band) |
| Net charge-offs (annualized) | 1.23% (p92 of band) |
| Loans / shares | 73% (p57 of band) |
| Cash / assets | 13.0% |
| Borrowings / assets | 0.00% |
| Net interest margin | 3.67% (p49 of band) |
| Operating expense / assets | 3.82% (p57 of band) |
| Vehicles % of loans | 27% (p33 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 31% |
| Third-party paper % of net worth | 58% (p58 of band) |
| Vehicle delinquency | 0.48% (p45 of band) |
| Vehicle NCO | 0.71% (p62 of band) |
| Repossessed % of vehicle book | 0.01% (p65 of band) |
| Real estate % of loans | 47% |
| Credit cards % of loans | 4% |
| Unsecured % of loans | 8% |
| Commercial % of net worth | 63% |
| Core shares % of member funds | 54% |
| Certificates % of member funds | 20% |
| Average share balance | $6,244 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | – |
| Loans outstanding per 100 members | 83% |
| Loans granted per 100 members, annualized | 17% |
| Average loan balance | $13,768 |
| Loans granted, annualized | $41.0M |

## Flags firing in the latest filing

- **net worth falling** (`cap_falling`)
- **losing money** (`earn_negative`)
- **charge-offs p90** (`aq_nco_high`)

## 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 | 0 |  |  |
| 2017-09 | 0 |  |  |
| 2017-12 | 0 |  |  |
| 2018-03 | 1 | delinquency rising |  |
| 2018-06 | 1 | delinquency 2x band | delinquency rising |
| 2018-09 | 3 | delinquency rising, members leaving |  |
| 2018-12 | 2 |  | delinquency rising |
| 2019-03 | 2 |  |  |
| 2019-06 | 1 |  | members leaving |
| 2019-09 | 1 |  |  |
| 2019-12 | 1 |  |  |
| 2020-03 | 2 | net worth falling, charge-offs p90 | delinquency 2x band |
| 2020-06 | 2 |  |  |
| 2020-09 | 3 | margin squeeze |  |
| 2020-12 | 2 |  | charge-offs p90 |
| 2021-03 | 2 |  |  |
| 2021-06 | 2 |  |  |
| 2021-09 | 0 |  | net worth falling, margin squeeze |
| 2021-12 | 0 |  |  |
| 2022-03 | 3 | thin capital, net worth falling, delinquency rising |  |
| 2022-06 | 2 |  | delinquency rising |
| 2022-09 | 1 | delinquency rising | thin capital, net worth falling |
| 2022-12 | 1 |  |  |
| 2023-03 | 0 |  | delinquency rising |
| 2023-06 | 0 |  |  |
| 2023-09 | 1 | members leaving |  |
| 2023-12 | 1 |  |  |
| 2024-03 | 0 |  | members leaving |
| 2024-06 | 0 |  |  |
| 2024-09 | 0 |  |  |
| 2024-12 | 1 | net worth falling |  |
| 2025-03 | 1 | delinquency rising | net worth falling |
| 2025-06 | 1 |  |  |
| 2025-09 | 1 |  |  |
| 2025-12 | 2 | delinquency 2x band |  |
| 2026-03 | 3 | net worth falling, losing money, charge-offs p90 | delinquency rising, delinquency 2x band |

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

- 2022-02-24 [Wolverine State Credit Union earns 2022 Health Leadership Award - - The Alpena News](https://news.google.com/rss/articles/CBMiqwFBVV95cUxPcW52dmgxMzU0Z0JJc0h6YXc1MzJDeTdmakhOSGQyWExKWXp2M05TN21hdlNMd1h6WG5xNG4zN0xJYXlBVFlpa1dJX1g4ZGNqdExLN2xPQl9tLXFFUnlGZXRRTzM4eUQ2VUNaeXZWX0F5akg3WFowM3hhcHVmY0tSTFhmdVFDNXVZSF9rWTJmbTR3NjEtaGREU0g3NGxkWFlCbWZVSnVMeDc1Ymc?oc=5) · The Alpena News
- 2025-09-08 [Scienaptic AI CUSO Expands - Business Wire](https://news.google.com/rss/articles/CBMiiwFBVV95cUxOMk05VklMNEdma0RSeUY0WWtTTGJWN1NGZTA0cDJHRWltbTZta3BraW43S3BSX3UzNFYxYWJvZDNWSzRfa0pPT1BLSVd1ZDRkaEZJQ2hnZVpiazBtRW5EMkdEaDVIam95a2hadzR3SHBZSDM3cVdjVTZlNVVKc3oyQlU2VHBXNEZLTnVB?oc=5) · Business Wire
- 2024-10-17 [True North Radio Network Community Blood Drive - True North Radio Network](https://news.google.com/rss/articles/CBMi2wFBVV95cUxPaF9DS2F5Tk13Y0xER3FTVEhyVlFZQmlNX3lyMGdrRTNxdGpMQUJveEo0djdxanAzMm0tTkNTVFhRZVZYUE8tbi1NTDVoWG40TF9JTmlkM240cjZuaU9EWmhsbkowclFrb2F6cEg0Zld1OFNFMkhDRlhzbElXR2t2d0NseWJWTl9jM2dZUFVqTm9QOFF6Y3c0MzFISXNPcXBmQTZJbTNQRTJTeERkZFlZMWN2S3pXWHRBaC1KeDZaRFZmVlJXcEFvUkRNa3hscTB4Z09XdW1Ba2Q0WWM?oc=5) · True North Radio Network
- 2021-09-11 [Wolverine SCU donates $15K to MidMichigan for patient tower - - The Alpena News](https://news.google.com/rss/articles/CBMipAFBVV95cUxOUEkxcDlnMXlvazlxb3YwX3N0ZWdibHhYeGNzZ2lfYWUySEIzbXBuRnBrYUpoaHI4U05UZ1FsejFwbUhLdUhTczljYUZVbGZRajBrOEtvSm1zNWk4ZHJYZ3RpdWMtU1F5T2ZkdkJaa05Yb1p6aTdFc0JPU2xZRGxGVTlXM0xGeExfN01NUXEtY0xrZEpwczdhaGtFdHpiSjFXbm1hUg?oc=5) · The Alpena News
- 2026-09-02 [Straley Lamp & Kraenzlein P.C. welcomes new shareholder - - The Alpena News](https://news.google.com/rss/articles/CBMiqwFBVV95cUxOYjlWSGFuNHY4RjBNaGw3VHZ0dzNmTm93bktyRk8wYUJpaC13dkVWekl1WDJqemZpSU1fOGxzdEtqWWVxMVk2cHJjbGRfckRUcFM3SVlxQUc1dXlTV2todHc1alhBWDg0azVzQy1DdkpuSjlLUDFCajdQeXVLbEtpTUloNDlqd2tTa1hOcmc0SWJjMlpJZGp5bnlPTTl5YXduZlROZXZSTUJBYVE?oc=5) · The Alpena News
- 2025-05-20 [2025 Summer Concert Series - True North Radio Network](https://news.google.com/rss/articles/CBMiwAFBVV95cUxOMzF0bktncmNtMHJXRjlWNW5HSHZaUnQ0VkJIWEFfYld0QXQzRHZnTy0yRUxwcjYtc0p6bU1pTW1WWmZDR1pFLVltVFR2cFFLSXpfTEQ5SGFESk1fRHRYRERGSGQ3X1JjSHA4dGtUQUM1TjFMcHI3RmZLWnIxYmZjWERyV0pDbmlIY2pZdkdHMFZkUWpVYy1xbmQ0MkROcm92c2tsblhzMF9jV2NqRVJPbU82OHRPVUJCUjdHMV9aNk8?oc=5) · True North Radio Network
- 2024-10-04 [Credit Union sponsors Clays for a Cause - - The Alpena News](https://news.google.com/rss/articles/CBMimgFBVV95cUxNZW5ZZ0o4aVUtSFMtT1luWkx3c1RjMDJtQnVZdDNQZmZXUlJoR2ZuX1M5Q0twdE82dVd0YWlOemVnbFg3VUkxTG1ad29Td3JIeVlzZl9CaDNsZEstSEtFdWVYdl9ldXgyc1U3ZUJORkdlUWZZSGNWUWhJcWtObFphVVl5VUpINVl5eTJQbmRDRTVTaDdjRVhvVGZR?oc=5) · The Alpena News
- 2026-01-06 [Patrick Bowen - The Alpena News](https://news.google.com/rss/articles/CBMicEFVX3lxTE1kREN5b3VveE1HUURkcmxXU2pIY2F5eEpHYVJKRW8xbTRBakxQVUpKNnpSQWdmRzBUWU5Wcm5PdkZGNHdsNUdPNzZNeWNuWkozdDZ2NmFOY2FxZld1RkdadVhDMTlfcmlBekRoX0tQOFo?oc=5) · The Alpena News

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=62203 (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/59.json (key "62203", 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=62203
- 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