# PREFERRED
Grand Rapids, MI · NCUA charter 62340 · asset band $200-500M · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/preferred-62340

Who the members are: state charter, organized 1968. 23,429 members of 50,000 potential (46.9% of the field); checking penetration 71% (share draft accounts per 100 members); loans per 100 members 91.

**Verdict on the desk:** this could be *participation buyer*. Composite score 1 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $317.9M |
| Members | 23,429 (-1.7% YoY) |
| Full-time staff | 74 |
| Net worth | $44.5M |
| Net worth ratio | 14.0% (p83 of band) |
| ROA (annualized) | 1.14% (p79 of band) |
| Total delinquency | 0.43% (p34 of band) |
| Net charge-offs (annualized) | 0.20% (p27 of band) |
| Loans / shares | 58% (p16 of band) |
| Cash / assets | 15.6% |
| Borrowings / assets | 0.00% |
| Net interest margin | 3.75% (p63 of band) |
| Operating expense / assets | 3.99% (p63 of band) |
| Vehicles % of loans | 42% (p67 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 45% |
| Third-party paper % of net worth | 115% (p62 of band) |
| Vehicle delinquency | 0.49% (p45 of band) |
| Vehicle NCO | 0.25% (p25 of band) |
| Repossessed % of vehicle book | 0.00% (p25 of band) |
| Real estate % of loans | 30% |
| Credit cards % of loans | 7% |
| Unsecured % of loans | 14% |
| Commercial % of net worth | 10% |
| Core shares % of member funds | 48% |
| Certificates % of member funds | 25% |
| Average share balance | $4,548 |
| Participations bought / yr | $9.4M |
| Participations sold / yr | $0 |
| Participations outstanding | $22.6M |
| Loans outstanding per 100 members | 91% |
| Loans granted per 100 members, annualized | 9% |
| Average loan balance | $7,335 |
| Loans granted, annualized | $43.8M |

## Participation posture (from the same filings)

Bought $9.4M and sold $0 in the latest annualized quarter; $22.6M outstanding purchased (50.7% of net worth), $0 sold and retained. Sold in 0 and bought in 8 of the last 8 quarters. Shares 3.0% year over year.

## Flags firing in the latest filing

- **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 | 1 |  |  |
| 2016-09 | 1 |  |  |
| 2016-12 | 1 |  |  |
| 2017-03 | 1 |  |  |
| 2017-06 | 2 | delinquency rising |  |
| 2017-09 | 1 |  | delinquency rising |
| 2017-12 | 1 |  |  |
| 2018-03 | 1 |  |  |
| 2018-06 | 1 |  |  |
| 2018-09 | 1 |  |  |
| 2018-12 | 1 |  |  |
| 2019-03 | 1 |  |  |
| 2019-06 | 1 |  |  |
| 2019-09 | 1 |  |  |
| 2019-12 | 1 |  |  |
| 2020-03 | 1 |  |  |
| 2020-06 | 3 | net worth falling, margin squeeze |  |
| 2020-09 | 2 |  | net worth falling |
| 2020-12 | 2 |  |  |
| 2021-03 | 3 | net worth falling |  |
| 2021-06 | 2 |  | net worth falling |
| 2021-09 | 2 |  |  |
| 2021-12 | 1 |  | margin squeeze |
| 2022-03 | 2 | net worth falling |  |
| 2022-06 | 1 |  | net worth falling |
| 2022-09 | 2 | delinquency rising |  |
| 2022-12 | 1 |  | delinquency rising |
| 2023-03 | 2 | delinquency rising |  |
| 2023-06 | 2 |  |  |
| 2023-09 | 1 |  | delinquency rising |
| 2023-12 | 2 | delinquency rising |  |
| 2024-03 | 1 |  | delinquency rising |
| 2024-06 | 1 |  |  |
| 2024-09 | 1 |  |  |
| 2024-12 | 1 |  |  |
| 2025-03 | 1 |  |  |
| 2025-06 | 1 |  |  |
| 2025-09 | 1 |  |  |
| 2025-12 | 1 |  |  |
| 2026-03 | 1 |  |  |

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

- 2026-08-27 [Preferred location - thedailynews.cc](https://news.google.com/rss/articles/CBMiZ0FVX3lxTE15RHpJeFI5SEtzUEgtbnUxbU5NUlYzTC1fNGFHd0kzNkxydGo4R1hCVC1iUFdTTGt1cVk4ZHZaZmlYUXhhYWUyLVBWVTVabWRSUzY5MFFlNnZudjhWaUsxNndRVWdPaVk?oc=5) · thedailynews.cc
- 2025-12-04 [We Found the Top Credit Unions: 6 Best Credit Unions - NerdWallet](https://news.google.com/rss/articles/CBMiY0FVX3lxTFBCTFlBakNVVk5za0RuYWs3ZVlXSVVIMXRfTjRKUTlnbERrb0xDa0FDdXB2UDdWeHpoaGpNb2hXZGhQWTJRY1dXVTRkRnVzU0JWRFF4NU9lYU9KUV9YQjNpM2pVaw?oc=5) · NerdWallet
- 2023-10-24 [Kirby awarded $500 grant from Preferred Credit Union - MasonCountyPress.com](https://news.google.com/rss/articles/CBMinAFBVV95cUxNV0V3Sm9jaENvYnQ2c3ZSY2V0MFNVcVJOY1psRFF3MWN0N2hfT2VYZ0xDUG9VWXcyUFFVVjlTQnZSZDhiWmdUZGhiR0VaQTRaQXA0a3c2V1FuYlFRUjNLTU81NDRsQmtmVFg5bE1kUWEwM1dRWlRmRU1uT0NySkktc0tFZjhTejFBcXRwX202R0QwSEI2NERDSDNBbUE?oc=5) · MasonCountyPress.com
- 2026-04-19 [Business News & Notes: Credit unions add executive, secure grants, win awards - Midland Daily News](https://news.google.com/rss/articles/CBMiiwFBVV95cUxNejNtVjdZQXlUS2dqb0Rrb0x3TTgwQjdPLVEwOXdKcEI0MGQ3WVBqaUtRUEQ3SFMxYzBCSGNRdnFCQVY1c3lLSmtRdjlXaGtuRjExd0c0dWZIYmc4ZkdQb0UzZDRQUWJyeFNkSy0tWnRqYTl4bGkyd3BUYXEzcV9rQjVNMm1IUlFQZG5R?oc=5) · Midland Daily News
- 2015-02-03 [Man facing charges over robbery of three credit unions - wwmt.com](https://news.google.com/rss/articles/CBMiigFBVV95cUxNQmNlZEJ4dndTY0d2QXd5Z1M2LUsySFhzd2RYZGtrSmVhc3RSY01PeWJ5dF91ZWszUzdQZDlyb2FqeTdPRHpybG4xcEVUOXE3T1h2V1BIRlFOcHlUVW9TYVd6d1BXWWhoVXFXUVZ0OTdqcE5xOXo4UTBOMi1fRllJcHFKUUF4LTlCdVE?oc=5) · wwmt.com
- 2024-06-26 [U.P. woman pleads no contest to killing Mason County man - Manistee News Advocate](https://news.google.com/rss/articles/CBMiowFBVV95cUxPeWxyZGFSU2R2TnZLcU9Md3NINFZ2akdncm5qN2NaUGNOZGJXR0llUXd6RmZNTFRLX1hGRWdwNmpOZFJxS2hZdzFnQi1ldEt3bldySG9fcTNvMFJqcE5tclhXNzZKSzhsd3d3QjRPR21uNWhPZ3BoUUZZRG4tTEZPaFowUkFnYmVWRnpRc1Jxb1JNS3cyWUVHUnp6UnVsWmxwSy1B?oc=5) · Manistee News Advocate
- 2024-02-28 [Google Wallet grows with 42 new supported banks in the US - androidpolice.com](https://news.google.com/rss/articles/CBMikwFBVV95cUxQdTExb0swWkFSZ0xMRGU1OElrTVI2TFRrT1RUaFFkMTJtR0pIM0VmVGJXQ2hYbVZ5dEFwTjhZLU1Jbk9nT21iYmZmWVZFdWtMQTdGcXBOQVl6b3R6SWVmTDBaWGlWWVRCZXN4bmpOeVZ2cS01bTRYeFF6Yi14Tm40MDVCRkR3WXNLUnBKbXY1MzVpeWc?oc=5) · androidpolice.com
- 2022-10-02 [Around the County: Hoag’s Lake - MasonCountyPress.com](https://news.google.com/rss/articles/CBMifkFVX3lxTFBtU2VOZHQxWXBSeWFOU0p4MXVjWHk1clNWZFR2TGV3X3pKR19pLWVDYllxTnJRR3ZSeUJ3dF8zemYyWHpsUldkdjJnc0cxelp4OGN6WG9janVGRThvM2lNeVZMOVpkOU5YVGR5b3lYcFR5TzhHRWpSLWtqSWdrZw?oc=5) · MasonCountyPress.com

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=62340 (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/4.json (key "62340", 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=62340
- 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