# CORDA
Cedar Rapids, IA · NCUA charter 63602 · asset band $500M-1B · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/corda-63602

Who the members are: state charter, organized 1935. 27,148 members of 1,159,356 potential (2.3% of the field); checking penetration 85% (share draft accounts per 100 members); loans per 100 members 109.

**Verdict on the desk:** this could be *indirect buyer*. 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 | $748.9M |
| Members | 27,148 (4.1% YoY) |
| Full-time staff | 118 |
| Net worth | $72.5M |
| Net worth ratio | 9.7% (p38 of band) |
| ROA (annualized) | 0.55% (p44 of band) |
| Total delinquency | 0.70% (p62 of band) |
| Net charge-offs (annualized) | 0.46% (p53 of band) |
| Loans / shares | 106% (p98 of band) |
| Cash / assets | 3.9% |
| Borrowings / assets | 9.53% |
| Net interest margin | 3.68% (p69 of band) |
| Operating expense / assets | 3.32% (p36 of band) |
| Vehicles % of loans | 30% (p55 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 81% |
| Third-party paper % of net worth | 388% (p96 of band) |
| Vehicle delinquency | 0.83% (p67 of band) |
| Vehicle NCO | 0.09% (p5 of band) |
| Repossessed % of vehicle book | 0.00% (p18 of band) |
| Real estate % of loans | 39% |
| Credit cards % of loans | 2% |
| Unsecured % of loans | 3% |
| Commercial % of net worth | 51% |
| Core shares % of member funds | 47% |
| Certificates % of member funds | 29% |
| Average share balance | $8,197 |
| Participations bought / yr | $32.5M |
| Participations sold / yr | $0 |
| Participations outstanding | $71.9M |
| Loans outstanding per 100 members | 109% |
| Loans granted per 100 members, annualized | 23% |
| Average loan balance | $21,527 |
| Loans granted, annualized | $208.3M |

## Participation posture (from the same filings)

Bought $32.5M and sold $0 in the latest annualized quarter; $71.9M outstanding purchased (99.2% of net worth), $0 sold and retained. Sold in 0 and bought in 2 of the last 8 quarters. Shares 8.3% year over year.

## Flags firing in the latest filing

- **loans>95% of shares** (`str_ltos`)
- **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 | 3 | loans>95% of shares, leaning on borrowings, 3rd-party paper>100% NW |  |
| 2016-06 | 3 |  |  |
| 2016-09 | 5 | thin capital, net worth falling |  |
| 2016-12 | 5 |  |  |
| 2017-03 | 5 |  |  |
| 2017-06 | 4 |  | net worth falling |
| 2017-09 | 4 |  |  |
| 2017-12 | 4 |  |  |
| 2018-03 | 4 |  |  |
| 2018-06 | 4 |  |  |
| 2018-09 | 5 | net worth falling |  |
| 2018-12 | 4 |  | net worth falling |
| 2019-03 | 3 |  | thin capital |
| 2019-06 | 3 |  |  |
| 2019-09 | 5 | assets shrinking, members leaving |  |
| 2019-12 | 4 |  | assets shrinking |
| 2020-03 | 6 | net worth falling, losing money |  |
| 2020-06 | 2 |  | leaning on borrowings, members leaving, net worth falling, losing money |
| 2020-09 | 2 |  |  |
| 2020-12 | 2 | net worth falling | loans>95% of shares |
| 2021-03 | 2 |  |  |
| 2021-06 | 3 | loans>95% of shares, leaning on borrowings | net worth falling |
| 2021-09 | 3 |  |  |
| 2021-12 | 3 |  |  |
| 2022-03 | 3 |  |  |
| 2022-06 | 4 | net worth falling |  |
| 2022-09 | 4 | delinquency rising | net worth falling |
| 2022-12 | 3 |  | delinquency rising |
| 2023-03 | 4 | delinquency rising |  |
| 2023-06 | 4 |  |  |
| 2023-09 | 5 | net worth falling |  |
| 2023-12 | 4 |  | net worth falling |
| 2024-03 | 4 |  |  |
| 2024-06 | 4 |  |  |
| 2024-09 | 3 |  | delinquency rising |
| 2024-12 | 3 |  |  |
| 2025-03 | 3 |  |  |
| 2025-06 | 3 |  |  |
| 2025-09 | 5 | net worth falling, losing money |  |
| 2025-12 | 4 |  | net worth falling |
| 2026-03 | 3 |  | losing money |

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

- 2026-05-06 [Corda Credit Union named Emerging Investor of the Year - Corridor Business Journal](https://news.google.com/rss/articles/CBMijAFBVV95cUxNUGttQW9hZDV5UFV0UHJBcHF1UDhDeXBIazBHM3AzeFNwendRZ2N5UEFrOXBBNUxvbW95RDh0ejlyOWNpSHhqd1pfSGIxR0gtMmc1UjZWS1VaY1JuU1EtNF9CSFRReG92Z2d3NGlodEpNdTlIOEF2UlN3SnlYeGVxSXI5SFVIblVnTE9qVA?oc=5) · Corridor Business Journal
- 2026-01-22 [Iowa Credit Union Foundation builds on a year of impact - CUInsight](https://news.google.com/rss/articles/CBMinAFBVV95cUxNbmJNSXh6OWtZMHRQTlJiRU1LQk43Uk5MNkx1NTJ4dDkzS1M3X1NEUWNqZF9XTTdxZTZTTjdrS2ZFR0ZiQVFUWEUwckRieHQtbGJmbTg2VnhkVGNQMU1mTmpUekRFWTdsNHRabHZ5eFNiYUZncGZITmVkbVM5LVhqa1BESUVlNS1zYUlmc25XSF8teWhPRWlpT2k0T2g?oc=5) · CUInsight
- 2026-07-09 [Former Hawkeye Lynn Kennedy Passes Away - Iowa Hawkeyes Athletics](https://news.google.com/rss/articles/CBMihwFBVV95cUxNeUxUMldKamx4M0QzWWh5RTZrMFV4dXpOdVZ1N1F1eGpOY01iek9NbE9INmR1bG5wYlJxM2JQcXlpMDRZUk0yMzNVV0dLQlZOM3dyOEpFdFRRQmVMUE5wc1oyV2cxNEFCU2V6cFY5R0pJLTNTWk9MSU1uYmVsYlp2eUk4aVhFWlU?oc=5) · Iowa Hawkeyes Athletics
- 2026-05-15 [An All-Day Lineup at North Liberty Blues & BBQ on July 11, Headlined by The Main Squeeze - northlibertyiowa.gov](https://news.google.com/rss/articles/CBMitgFBVV95cUxQM0NDOXpGeVRockVZTFVHaFpON05KcG52RTY2OFU3eUZmdHpGdmxsUGx1cmx4TWNwZXlzYzFJUG9EMzhqZmltemQwYll6RWxZQTc5dEp1QlBma3VleUJvSXFWbG5EMklHVHZzbDJHaTJGUnZaY1FYWGEwdmZ1WDloeU5tNTJmMk1yZUlrNnk5TlJRSnBkMFI5QndUTDhoUVd6eFFCWFlHbTVXNUtoMUgxUUhaN0N1dw?oc=5) · northlibertyiowa.gov
- 2026-02-20 [Kent Cromer - Cedar Memorial](https://news.google.com/rss/articles/CBMiakFVX3lxTE8tMkxQQWpvTlp4eHp5UWhPeUd2ekVWM2Roc3Z4YnNtemd1dXZsMVRnVF9aQmYxRmhRYUtEVGJyMTkwU3FyRlZVMXFRV0xLa1dYVVdCdnFBMXd0eUNqZXZWWjNzYmFRMmJSUWc?oc=5) · Cedar Memorial
- 2026-03-12 [Foundation 2 reveals new kitchen build on donations and volunteers - KGAN](https://news.google.com/rss/articles/CBMitAFBVV95cUxNQThyZVRjMVp1ZWxVY2ZLclJXVHg4YTJaamRSb1d0WVdoemtidlBlc1NkQUp2MFdxWW5vXzlidTVRVXMzM1Q0SWNKS3EwWUZvTXk1S1NLMkdRVkgxQWhVTlpsWVBoUzFzMEs4cy1WMlBTV0pmTkFQNEg1Mk85QzJIY085MzhTbllTN0Z2cXlicU1IT3JKTnY5bWNzQUF4eFR4NUExWV9tLWlDRFJQbVktTHBlMGM?oc=5) · KGAN
- 2026-05-27 [Iowa students win $48K in Warren A. Morrow scholarships - kimt.com](https://news.google.com/rss/articles/CBMiyAFBVV95cUxQenpZLTN6ZWlKN3lyRzg3azRyclFPc2E1aTBmNkRUaGlsLVE4VmFkRXlpNGY4OEo2VU5wRVhGNkZ1OFdzNkVRd2tKUmJoRkVwUlM4VFNjN2M4N1IyNDdiVXlQbFpjZ0ZpNmw3cDNiZnk4ZVhUakdleDZSQmtRT190S1lPVW5QUEt2c1lPOWh2MF9lWjM4cVZ6Yi11bnpPWEVuMUFsSjh6ZzdXY3pfaXhYYWlQemcxT2g3cDVvUlVxNG5VX2kzOTJabg?oc=5) · kimt.com
- 2024-02-28 [Linn Area Credit Union to become Corda Credit Union - kcrg.com](https://news.google.com/rss/articles/CBMiiAFBVV95cUxQWXBYVzg5Y2Y5Q1pua29lUU9fRUZMRDFEWllyODhWbXZaRy1QZGlWT3JyMHFlTG1kVXJuZVJzejB2ZWdjOUlYYzYtdXZmWGc0ckN6RU1FZVVLcUpoLXBiNU8xcUE3NnV3dDliRFM2a3BWUTh3czZQZVZmbkdfenFkdVRyMnBYNWlS0gGcAUFVX3lxTE9ka19KbENHUE4zZjBRSDFLOGdqa3lkalk2c3dLWnJIcTdaOEVpLUtDNFBISDFydk1wMUJ3VDlBcDA2QmFTQTZTX0lHWWloU1lHdF9nZ0pkM2VPRExiZ3FtVkxZWll4MUc2UFhVUmtIZTA1TGhwNHJ1djctbEZiUEF4emhHQWlNeG40b1JvQWZYTUc5OWJyU2Fzelo5Zw?oc=5) · kcrg.com

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=63602 (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/50.json (key "63602", 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=63602
- 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