# NORTHWOODS
Cloquet, MN · NCUA charter 62847 · asset band $100-200M · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/northwoods-62847

Who the members are: state charter, organized 1936. 11,728 members of 402,878 potential (2.9% of the field); checking penetration 81% (share draft accounts per 100 members); loans per 100 members 81.

**Verdict on the desk:** this could be *participation buyer*. Composite score 2 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $178.0M |
| Members | 11,728 (-1.9% YoY) |
| Full-time staff | 56 |
| Net worth | $16.6M |
| Net worth ratio | 9.3% (p19 of band) |
| ROA (annualized) | 0.95% (p66 of band) |
| Total delinquency | 0.36% (p28 of band) |
| Net charge-offs (annualized) | 0.77% (p83 of band) |
| Loans / shares | 83% (p77 of band) |
| Cash / assets | 11.4% |
| Borrowings / assets | 0.00% |
| Net interest margin | 5.38% (p98 of band) |
| Operating expense / assets | 6.01% (p97 of band) |
| Vehicles % of loans | 39% (p54 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 24% |
| Third-party paper % of net worth | 168% (p81 of band) |
| Vehicle delinquency | 0.59% (p51 of band) |
| Vehicle NCO | 1.00% (p73 of band) |
| Repossessed % of vehicle book | 0.00% (p32 of band) |
| Real estate % of loans | 38% |
| Credit cards % of loans | 4% |
| Unsecured % of loans | 12% |
| Commercial % of net worth | 0% |
| Core shares % of member funds | 62% |
| Certificates % of member funds | 17% |
| Average share balance | $6,523 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | $16.1M |
| Loans outstanding per 100 members | 81% |
| Loans granted per 100 members, annualized | 19% |
| Average loan balance | $13,902 |
| Loans granted, annualized | $42.9M |

## Participation posture (from the same filings)

Bought $0 and sold $0 in the latest annualized quarter; $16.1M outstanding purchased (96.8% of net worth), $284 sold and retained. Sold in 0 and bought in 4 of the last 8 quarters. Shares -2.1% year over year.

## Flags firing in the latest filing

- **expense trap** (`earn_opex`)
- **3rd-party paper>100% NW** (`str_thirdparty`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 2 | losing money, expense trap |  |
| 2016-06 | 3 | delinquency 2x band |  |
| 2016-09 | 3 | net worth falling | losing money |
| 2016-12 | 2 |  | delinquency 2x band |
| 2017-03 | 4 | losing money, margin squeeze |  |
| 2017-06 | 4 |  |  |
| 2017-09 | 2 |  | net worth falling, margin squeeze |
| 2017-12 | 2 |  |  |
| 2018-03 | 1 |  | losing money |
| 2018-06 | 1 |  |  |
| 2018-09 | 1 |  |  |
| 2018-12 | 2 | net worth falling |  |
| 2019-03 | 1 |  | net worth falling |
| 2019-06 | 1 |  |  |
| 2019-09 | 1 |  |  |
| 2019-12 | 3 | delinquency rising, members leaving |  |
| 2020-03 | 5 | net worth falling, losing money |  |
| 2020-06 | 2 |  | delinquency rising, members leaving, losing money |
| 2020-09 | 3 | margin squeeze |  |
| 2020-12 | 5 | thin capital, losing money, 3rd-party paper>100% NW | margin squeeze |
| 2021-03 | 4 | margin squeeze | losing money, 3rd-party paper>100% NW |
| 2021-06 | 2 |  | net worth falling, margin squeeze |
| 2021-09 | 2 |  |  |
| 2021-12 | 5 | net worth falling, delinquency rising, 3rd-party paper>100% NW |  |
| 2022-03 | 5 |  |  |
| 2022-06 | 3 |  | net worth falling, delinquency rising |
| 2022-09 | 3 |  |  |
| 2022-12 | 3 |  |  |
| 2023-03 | 4 | net worth falling |  |
| 2023-06 | 4 |  |  |
| 2023-09 | 4 |  |  |
| 2023-12 | 3 |  | net worth falling |
| 2024-03 | 4 | losing money |  |
| 2024-06 | 4 | delinquency rising | losing money |
| 2024-09 | 3 |  | delinquency rising |
| 2024-12 | 3 |  |  |
| 2025-03 | 3 |  |  |
| 2025-06 | 3 |  |  |
| 2025-09 | 2 |  | thin capital |
| 2025-12 | 3 | delinquency rising |  |
| 2026-03 | 2 |  | delinquency rising |

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

- 2026-06-07 [Northwoods Credit Union announces plans for new location | Hinckley - pinecountynews.com](https://news.google.com/rss/articles/CBMihwJBVV95cUxOZWdESEYzYmpOVWZHUjJ0RjdyTXV3UVpWVWkyQ1RodGp6ZGR1TmZTdXE3YzZ0SXVtOUhiRzVWTDNURlVNdGczcDVOMlFFbmFhcmJTVkFzTU1mZnl5VUJfUXJfaUhMcURVaHRWb0FGcHdSLVNsYUVmdjFMSldyVmloVXdnSjhjb3pHRXU3cW1uZWpWU0RRdWdJUWVtX1liRlB6bmFFUjRmNVVNTzhiTXpRdHFsTFpnZzFEVVZjbmNFcWVhdktPa3o2ZWxsWk5wYUVNN3JLb1BBRlBjRUo0TFp0TjdQZ2t6RHMxUHlUS3AwOVN4VjdWVVVGdmNKMllROUpjYldhSWEwZw?oc=5) · pinecountynews.com
- 2025-11-25 [Hibbing/Chisholm outlasts Cloquet-Esko-Carlton - Duluth News Tribune](https://news.google.com/rss/articles/CBMilwFBVV95cUxOOFpJbHlsdTVmNjV0eE02bVN3MmRSWXlONVdseklkeWJCOFExc1A5ZnRSZ3hxY1FISklJcFViQXpYT210QzZfRnBINzhrX1psSHNQVGRzZ2dMNDgtMUZ1ellGZ0oyVXIwdXJ4ZHlRZlNISER4ampXSVJXcUlDM3kxYWkzaGJxa2tOcnFndDZ4MFFoUWhSQko4?oc=5) · Duluth News Tribune
- 2023-06-21 [Cloquet to make $50K repair at Northwoods Credit Union Arena - Pine Journal | Cloquet, Minnesota](https://news.google.com/rss/articles/CBMinwFBVV95cUxOSjJHZk9tNE5kZ3JOLTZQMF9RYzFleDFISDQ5YkZ6cEhGZGxVNGJ4Xy1jelAxaVRfYV9KenEwazB2R1o5RGRlODcyZk9PanVPR2lWNnlhZGJENk5LQjdlQm8yMWE4cEdZMHhsZ2V0eU8tS1V1cUg1TzZldlRmbWp1NWFyZF9fZnN3czBnVUJWdVQ1MWRMdmN1X3VOV3ozMWc?oc=5) · Pine Journal | Cloquet, Minnesota
- 2025-02-08 [A Cloquet constant: Friends make high school hockey rink their gathering place - Strib Varsity](https://news.google.com/rss/articles/CBMiiAFBVV95cUxQRGtKMWZKQWVsb3h3VlVpT2hNSmtoQ0JyUTlMeWpXcWtWVjAxSmc2eE1VU2Qxd3hDWVhzVjhfQ3AtbC0xLXhoRzJSTXpuZGZpQVlYcFp2OTV6WnBJUnMzaGNoTmY2elVCR2kwNWhkWGlWQXQ5Tm8yTVhJTUtobGFNcXhkTnQwUmpf?oc=5) · Strib Varsity
- 2023-08-10 [Wilderness head to Proctor while home arena awaits repairs - Duluth News Tribune](https://news.google.com/rss/articles/CBMirwFBVV95cUxQNGpFdXRxTll2TUtFX1c1dmpJcnI3N1pBWlNjVnNleHNRTXdORDRjcm1VbEN6ZGZjdjhBVVNLbkpzSUozTnpZQmZ5LUlsejU4cmE1ODVkNzhUbFJRV2lHcWZqRUZsNmdjN3R4VDhjLVFiYTJsbzNKaWMwYm1oVThsWnE4SWJQclozb3lraDNraHRuU1RHZWhGdUZKSGROZ2NacTd4d1hwdENubmlzNmdJ?oc=5) · Duluth News Tribune
- 2023-09-19 [Northwoods Credit Union Arena resumes ice production - Pine Journal | Cloquet, Minnesota](https://news.google.com/rss/articles/CBMikAFBVV95cUxQd2FMSmJEejhXY2h4SVp1a0h2RHh5VzVjSEV2S2thYUE3NC1RVmRrb0ZIVVotTXBEOFNLbzNmT1BIMzlZS0NYT2tvYzZGQWtvakJhRFpUWGhjSnNNNU93a3ItdUNaa2dwRk5QaXd4X25paGpyQndpUF9XaDhuNTFmdW5hNVUzbi1JZDd1Yl95WXo?oc=5) · Pine Journal | Cloquet, Minnesota
- 2024-04-04 [Minnesota Wilderness see early lead slip away in close loss to Springfield Jr. Blues - WDIO.com](https://news.google.com/rss/articles/CBMisgFBVV95cUxQU1pLMVRSLXI2MnNCcTE3aThSTzdFOFgyS2EwRTc3clVGRDlSSmxJYVkzcWpIOXlkeGRIM0FWYVNIaFNkbU9oWWx1MzRqQ0QxRWQ2YVlGRzVoYkh6c245bXVTOVVJNFFSdVpFeThaSzEwTEJtNnBoZzdjX3NMZ0dyaUtwa24xM0lucGhDZVNvMUxHQVNuODZsV1JDbHdaTGtWNVBaS0lZYUwyNVZzUTFnalhR?oc=5) · WDIO.com
- 2019-02-20 [Unflappable goalie leads Cloquet-Esko-Carlton to Section 7AA win - The Rink Live](https://news.google.com/rss/articles/CBMipwFBVV95cUxPcGpuT1pwZzZFNjdwQ1pwTU5pS3BUVXU3RERYdHdPNUdZQW9pZzUzVG4yQTBWZU1QZzZod1hKN0VSclJ3LW4ydnd3eHJIV3ZJeHpPenMxS1Y4b2F5X1VDY3BndlhmSlAycVMxdlJIQ0ZLWmltSWFKR0dNWkZoY2UtSGpFNVlBTmRlUGZTYS1vWW9NdkhyRy1fZm8wYmUtemxKQmZVU3VnNA?oc=5) · The Rink Live

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=62847 (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/63.json (key "62847", 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=62847
- 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