# MERITRUST
Broomfield, CO · NCUA charter 62574 · asset band $1-10B · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/meritrust-62574

Who the members are: state charter, organized 1950. 209,548 members of 5,428,252 potential (3.9% of the field); checking penetration 77% (share draft accounts per 100 members); loans per 100 members 58.

**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 | $4.19B |
| Members | 209,548 (166.0% YoY) |
| Full-time staff | 644 |
| Net worth | $335.7M |
| Net worth ratio | 8.0% (p4 of band) |
| ROA (annualized) | 0.26% (p12 of band) |
| Total delinquency | 0.40% (p27 of band) |
| Net charge-offs (annualized) | 0.49% (p48 of band) |
| Loans / shares | 87% (p51 of band) |
| Cash / assets | 7.9% |
| Borrowings / assets | 5.42% |
| Net interest margin | 3.01% (p29 of band) |
| Operating expense / assets | 3.63% (p72 of band) |
| Vehicles % of loans | 33% (p65 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 84% |
| Third-party paper % of net worth | 256% (p78 of band) |
| Vehicle delinquency | 0.66% (p56 of band) |
| Vehicle NCO | 1.54% (p75 of band) |
| Repossessed % of vehicle book | 0.74% (p99 of band) |
| Real estate % of loans | 50% |
| Credit cards % of loans | 2% |
| Unsecured % of loans | 2% |
| Commercial % of net worth | 118% |
| Core shares % of member funds | 53% |
| Certificates % of member funds | 27% |
| Average share balance | $7,257 |
| Participations bought / yr | $21.3M |
| Participations sold / yr | $571.1M |
| Participations outstanding | $323.5M |
| Loans outstanding per 100 members | 58% |
| Loans granted per 100 members, annualized | 19% |
| Average loan balance | $25,196 |
| Loans granted, annualized | $1.77B |

## Participation posture (from the same filings)

Bought $21.3M and sold $571.1M in the latest annualized quarter; $323.5M outstanding purchased (96.4% of net worth), $120.3M sold and retained. Sold in 4 and bought in 3 of the last 8 quarters. Shares 135.1% year over year.

## Flags firing in the latest filing

- **thin capital** (`cap_low`)
- **repo signal** (`aq_repo`)
- **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 | 1 |  |  |
| 2016-09 | 1 |  |  |
| 2016-12 | 1 |  |  |
| 2017-03 | 1 |  |  |
| 2017-06 | 1 |  |  |
| 2017-09 | 1 |  |  |
| 2017-12 | 1 |  |  |
| 2018-03 | 2 | net worth falling |  |
| 2018-06 | 2 |  |  |
| 2018-09 | 2 |  |  |
| 2018-12 | 1 |  | net worth falling |
| 2019-03 | 1 |  |  |
| 2019-06 | 1 |  |  |
| 2019-09 | 1 |  |  |
| 2019-12 | 1 |  |  |
| 2020-03 | 4 | net worth falling, margin squeeze, delinquency rising |  |
| 2020-06 | 3 |  | delinquency rising |
| 2020-09 | 2 |  | net worth falling |
| 2020-12 | 2 | repo signal | margin squeeze |
| 2021-03 | 2 | net worth falling | repo signal |
| 2021-06 | 1 |  | net worth falling |
| 2021-09 | 2 | delinquency rising |  |
| 2021-12 | 2 | net worth falling | delinquency rising |
| 2022-03 | 2 |  |  |
| 2022-06 | 4 | thin capital, leaning on borrowings |  |
| 2022-09 | 3 |  | net worth falling |
| 2022-12 | 3 |  |  |
| 2023-03 | 3 |  |  |
| 2023-06 | 3 |  |  |
| 2023-09 | 2 |  | thin capital |
| 2023-12 | 3 | thin capital |  |
| 2024-03 | 5 | net worth falling, delinquency rising |  |
| 2024-06 | 2 |  | thin capital, net worth falling, delinquency rising |
| 2024-09 | 2 |  |  |
| 2024-12 | 3 | thin capital |  |
| 2025-03 | 3 |  |  |
| 2025-06 | 3 |  |  |
| 2025-09 | 5 | losing money, repo signal |  |
| 2025-12 | 4 |  | losing money |
| 2026-03 | 4 |  |  |

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

- 2026-04-07 [Meritrust Credit Union expands Boulder presence - BizWest](https://news.google.com/rss/articles/CBMihgFBVV95cUxOTGdkUFY0UXE3S0dpMzM1eW5DOW1kWno4eFRIQ3dwbHg3SzQ3YzZQRTBnZEtTVDl1cDdla0pQcm9pa0RkbUR6TS1Zb2VqeVNOVC1zV0s4cjJKRnU1VG1kUWxNNnFMMmFWaXVIRFplNFJ4bGxEaFZGZS1kYy1GN0tqZXUtQ1lPZw?oc=5) · BizWest
- 2026-06-24 [Former Wichita Council member Brandon Johnson hired at Meritrust Credit Union - The Business Journals](https://news.google.com/rss/articles/CBMipgFBVV95cUxNZERwR1p2SDhFWFpuWlQyTnlhUHo4WnpRVGNmTTVsdzQ2N05JYXl4dktZaHJqNWhxWHdCLWtka0UxZmVyaXJVNUFTUm5jTlRMcXl0Nm1Tbl9hcG9XcFhKSjM3clU5OFVpVzBCMnBfVGlLc0tXQzF2bE5OYS1wWTZ1OWhUbS1BN1ducHZJWHZ0NEZqd2ZfMG1iSmlINl9MVTlrcElneW9B?oc=5) · The Business Journals
- 2025-09-19 [Meritrust announces partnership with Division I quarterback Kaidon Salter - CUInsight](https://news.google.com/rss/articles/CBMitAFBVV95cUxNbXV1ajVCS0MyNEhEMGFOZjV3Wjk5a2FzWWZIQzZNYXR4d3NzeUlsdmwxbExvMkNNSWc4c09KTWtDLVFza2thMjIxUzJEQVdUejNHejYyQlBIWEtTVjdOVU9kV21rRkxlRHJSbk5KSVAxb3pRbFl5MW9WdTgzc0pjMWlqdFp0TEl3WXVsWlJsZFFTczhyYmxLTmlIMXpoTVViLURDbU03V0kwVF9fSlpoSnlmaFk?oc=5) · CUInsight
- 2025-11-04 [Meritrust Credit Union invests in its new territory for NBA partnership - The Business Journals](https://news.google.com/rss/articles/CBMipAFBVV95cUxOLWQyWERMcTFOQVoxQ0g1ekJOQ2tRbUFFSDRrUlJrVFhCb19zaEx0bGFyeEs0OUtxV0E2YzZWZ2o4NVFUeThpWjBTRS02b21UZkZUaDNSMGlWV0ZmNko1MElvai1lOFZaOXZYVUowLXJJSEJMR1lxMVludDNPaVhnc1U2cm5EU1pqZ1BaWjJoWkZQdDItd095ajZSYzU5b3JPNEhFWg?oc=5) · The Business Journals
- 2025-11-01 [PMCU to ‘align around’ Meritrust brand post-merger - BizWest](https://news.google.com/rss/articles/CBMihwFBVV95cUxNc1RfSHQyUllpOXl3UEtrZV9acm5SRjV0UWFDOW1tVmhldEQzRkpVUVZqMDZha0J3SlFSZU1xdGVySEVBdVlvVXBxVV9SNFFCel9NbVIyYVg5M1ZNNjZfOHFWLWNzX19UWnBiSlJ6WUJzT3UySS1GeTFYWEY1QWQtT2tGUnFKQVk?oc=5) · BizWest
- 2025-07-29 [Meritrust Credit Union’s to merge with Premier Members Credit Union - WIBW](https://news.google.com/rss/articles/CBMinAFBVV95cUxOUERrQzBvcTc1SS15N2FRYnBQV0dPT090aXpySWl6R3c3bmw5VlRSZWJLYTBjRjhVd2wzTmpYbkZ3T0FyV1hfVk5NdDNfU2VZNGg5T3p4LUxMd0VQVDR6QWJZc1NPemU5UUtCSjAwZHVsZ1FFV1RrM0t2aHhUVWlzdXlsWFVWSlY5ejVkeHJWSXRtSHJzY1RxOExMNU3SAbABQVVfeXFMT0ZPcVZyUW1hdmpodFZveHoyQlJZQmVlUzBzNUNjdEJtblpzR2s2SHZkMzBBYk4zanhJemZkZXAzOXFMS3FhZzc5Q0pSWUFROUdTX3ZTdVNVY0dMZW1nemxNZURrTnVXbjdUSHB0eDJFdTZnVUhXcUg1QmV6Z215NnNhZEVLVW1RTHI1Y0plUk5NcDUzczZhdFgzR25CMHBvNk05Ml9rMmk3UGxyQTFENHo?oc=5) · WIBW
- 2024-10-14 [Another Billion-Dollar CU Merger - cutoday.info](https://news.google.com/rss/articles/CBMidEFVX3lxTE1kTm0wS1RmZkd2TktJb1hxUGY3UHZMZmQ3bHlkTk1kZ0RxQTlpc294ZDhTS2NTWmlpdUVHbXZxYnZoaFVvSnJ6T0xBOEtLemR5bXhscmpMVmhLeld4a3hhczF1QkMzU1lXT1ZKVXhmbGh5UHFm?oc=5) · cutoday.info
- 2025-11-07 [Kansas credit union taps rising Nugget star after Denver-area merger - The Business Journals](https://news.google.com/rss/articles/CBMipwFBVV95cUxPYnVPa1JHRnRTQ2ZQanhuOWxNcU54QXRRclkxS2JjWExmeWZiWi16eUJ4MTNuWlhBNEk3Mm9HLWpyMkUxamJfbkhBZGp1a1M5Z1RfY2NVMFgwOF84ckJ4cm9MdUl2VVI5TnJTQkdaSTFJWkt0Y1RNVGk1UzBLWjJ3UzVyN1B1WHpGWFowS2xXWDNhYTVId19hVGNUMW9wZ3VQeXBreG5TMA?oc=5) · The Business Journals

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=62574 (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/46.json (key "62574", 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=62574
- 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.

---
Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide