# HEARTLAND
Inver Grove Hei, MN · NCUA charter 64168 · asset band $100-200M · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/heartland-64168

Who the members are: state charter, organized 1939. 10,468 members of 3,373,298 potential (0.3% of the field); checking penetration 62% (share draft accounts per 100 members); loans per 100 members 286.

**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 | $176.4M |
| Members | 10,468 (-4.0% YoY) |
| Full-time staff | 32 |
| Net worth | $17.3M |
| Net worth ratio | 9.8% (p25 of band) |
| ROA (annualized) | 0.17% (p16 of band) |
| Total delinquency | 0.39% (p31 of band) |
| Net charge-offs (annualized) | 0.25% (p39 of band) |
| Loans / shares | 68% (p47 of band) |
| Cash / assets | 8.8% |
| Borrowings / assets | 4.54% |
| Net interest margin | 3.26% (p28 of band) |
| Operating expense / assets | 3.80% (p56 of band) |
| Vehicles % of loans | 31% (p39 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 11% |
| Third-party paper % of net worth | 50% (p56 of band) |
| Vehicle delinquency | 0.48% (p46 of band) |
| Vehicle NCO | 0.80% (p66 of band) |
| Repossessed % of vehicle book | 0.00% (p32 of band) |
| Real estate % of loans | 56% |
| Credit cards % of loans | 6% |
| Unsecured % of loans | 9% |
| Commercial % of net worth | 1% |
| Core shares % of member funds | 75% |
| Certificates % of member funds | 15% |
| Average share balance | $7,484 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | $6.0M |
| Loans outstanding per 100 members | 286% |
| Loans granted per 100 members, annualized | 8% |
| Average loan balance | $3,474 |
| Loans granted, annualized | $22.9M |

## Participation posture (from the same filings)

Bought $0 and sold $0 in the latest annualized quarter; $6.0M outstanding purchased (34.9% of net worth), $0 sold and retained. Sold in 0 and bought in 0 of the last 8 quarters. Shares -4.1% year over year.

## Flags firing in the latest filing

- **members leaving** (`shrink_members`)

## 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 | net worth falling |  |
| 2018-06 | 0 |  | net worth falling |
| 2018-09 | 0 |  |  |
| 2018-12 | 0 |  |  |
| 2019-03 | 0 |  |  |
| 2019-06 | 0 |  |  |
| 2019-09 | 0 |  |  |
| 2019-12 | 0 |  |  |
| 2020-03 | 1 | net worth falling |  |
| 2020-06 | 1 |  |  |
| 2020-09 | 0 |  | net worth falling |
| 2020-12 | 2 | thin capital, margin squeeze |  |
| 2021-03 | 2 | net worth falling | margin squeeze |
| 2021-06 | 1 |  | net worth falling |
| 2021-09 | 0 |  | thin capital |
| 2021-12 | 0 |  |  |
| 2022-03 | 1 | net worth falling |  |
| 2022-06 | 0 |  | net worth falling |
| 2022-09 | 0 |  |  |
| 2022-12 | 0 |  |  |
| 2023-03 | 0 |  |  |
| 2023-06 | 1 | delinquency rising |  |
| 2023-09 | 4 | thin capital, leaning on borrowings, 3rd-party paper>100% NW |  |
| 2023-12 | 4 |  |  |
| 2024-03 | 4 |  |  |
| 2024-06 | 3 |  | thin capital |
| 2024-09 | 5 | assets shrinking, loan book shrinking |  |
| 2024-12 | 1 |  | delinquency rising, leaning on borrowings, 3rd-party paper>100% NW, loan book shrinking |
| 2025-03 | 1 |  |  |
| 2025-06 | 2 | delinquency rising, leaning on borrowings | assets shrinking |
| 2025-09 | 1 |  | delinquency rising |
| 2025-12 | 1 |  |  |
| 2026-03 | 1 | members leaving | leaning on borrowings |

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

- 2026-02-04 [Heartland Credit Union and Novation Credit Union Announce Intent to Merge - Knoxville News Sentinel](https://news.google.com/rss/articles/CBMixAFBVV95cUxQaUdoVldjNUVSUGxsS1I4aHpoSTNsVWdkd0FyUGlBODVKY0VYQ0N3NndBUTJnUlpDbGRQck1FeWRaS1Q2UWxNOG40R3JRMzNVMWNJOURvREpDNjFoWHo2NEE2aHczLUJZQ2phTGE5d0N0TE9FNzA3MDI2dWV2dTY3VDROYUE4Y3k3UkQtSXJOTVk1UG9GUmlCS0NQbnpDOEFzdktKbGNsNjMzQ3dreGI3UEktVXBYYXhzZFRQV0djLWdYQzdY?oc=5) · Knoxville News Sentinel
- 2025-10-16 [Heartland Credit Union hires CFO - springfieldbusinessjournal.com](https://news.google.com/rss/articles/CBMilAFBVV95cUxOZVcwT1lrZE1za3JyY1NZdUk3dmtOanlkQjBvVWtxZC1nZVNndkx6Y3hDM2lacUdmQ1BaVkdjT1hLeENpYURtdmUwbC1PcWJUOUdXRUFOYVdQTVhyaXBOR3RZUmZOdnpMODA3RmtLSFNCYllIXy1WbWpyWTZNQlRxbzJtZVBJRkg5ZjkzWUxRVWJMX0Uw?oc=5) · springfieldbusinessjournal.com
- 2025-01-19 [Remembering the life of Lindsay Moosbrugger - Star Tribune](https://news.google.com/rss/articles/CBMif0FVX3lxTE1LYzVsNW04elVjeUhDeGRUUExrTDBuSEpERFpFMFhReUtTWnhXYXBxeGJtYzg4OEtxVTZrR2RLeFVma0hsaDVZZF9yejU2QUtjQnhzeWJFT1N6U0ctVkNJcjVHTmVSSmppcHNaQ1JkZFkyaF82RGU5ckNYLTJ6OU0?oc=5) · Star Tribune
- 2023-10-18 [More Than 175 Organizations Oppose the Durbin Credit Card Interchange Bill - Electronic Payments Coalition](https://news.google.com/rss/articles/CBMixAFBVV95cUxQTmxGQjZrcDRQWFhTY1g5T0xpTU5ObEtYUnpMLTBzMlpYNlRyVE1SYTlyWWJWTFFxcUF0aWxpYm5GVnMxTlc3ZmFib0I0OHhmS2hoalBOY1Y5ZTBLQmZQM2FnMGgzdUJZVHlZQU8tWDhQVnZJekQ2U2Vxc3ZiWTlLeHdfREV6VUc0VE11Vng1TFU2S0tld2dKQ2V2cXRXRktyVDhXYWV5MmVPc2FWWnVlRXFLOXZBS1ZqN1VKNElkYjVGdS1I?oc=5) · Electronic Payments Coalition
- 2017-08-17 [Heartland Data Breach Update: Thousands of Institutions Impacted - BankInfoSecurity](https://news.google.com/rss/articles/CBMiogFBVV95cUxNWVEyRWhPeVlpYXZaX19sN1VhVk5zZ1RJb2xUMlNFUmhWdnU2c1NxVXRJcVBxYTJXM0ptVjFreVRaQjJQNkdoQmFKWmQxU3ZNMU5ROGRsbVVreFdIeUhHMmEwSjdnaHVoaDd3ZmhWQmdDX1huU3UyeFlYakxsMW1DTEJEMmVsR3BLelpjd0xENjB1eFBqOXFFcFdtc1lqVE44YlE?oc=5) · BankInfoSecurity
- 2019-07-02 [Brooklyn Park welcomes McLaughlin Gormley King (MGK), illustrating recent trend of business boom in the city - City of Brooklyn Park](https://news.google.com/rss/articles/CBMi5gFBVV95cUxQTGpsaGljSVUteVFtaVgyY2FYRkZlLTdWRWNWdmpFbnNiOGM3dDUtOXBMcFItMFE5R1M1d0VRMnBMV1l4MVVpcG9xNXhmaVVkVXdtTGRrN3Rjb0w3MVJ0MS1USFlnb19vaGgzUm9ndUZzQkpDbUJIbUVXemNaNU9xOHo3aXRaOHYtbUdhNm5oS05Tck1lTEJRV2xhUGVDOXlhTk5KbjdiRVM5NXE3TWxpRGJOWWw0UmxTcm1lWW5DWnl4MEhRVUFrWHAwSTgwT0RCd2dScUdmUjhDSWFJbE9JM083NWh5QQ?oc=5) · City of Brooklyn Park
- 2021-12-09 [‘Coins for a Cause’ at Baxter credit union to fight hunger - Brainerd Dispatch](https://news.google.com/rss/articles/CBMioAFBVV95cUxOeWpyVVR1c2Y3dkNKaEhHTWNkTFdEbEF6YzhmazB5UndHbXVhSzNnc2J3aVdTTVQ1TUxKUi1wb2E5dDQ5Sm05YzE3N0oxckdIVXRhaHNobThNMTZFR09FYjluRFR6b1FJWjI1T2ZUUzlhY1FSZm9waUp3OVFadzlDNDBzbkxHdTdLVzBnVVYyNjJmb3NlbnpvekxmUWU0a1Bv?oc=5) · Brainerd Dispatch
- 2024-06-27 [Family of 5 finds Golden Spike - presspubs.com](https://news.google.com/rss/articles/CBMiuwFBVV95cUxQYVI5SndiTllsYmtESUhqZ2l2MkUyWmt1MWtPclFzdlNwTEVkM1BBbEU0Wi04WS1YYVIwYlpRNmRfU200Snl6dlJJWEx4OFh6YnJ2N0Q1eTRlcHQ5V2Q1cmQyMVJOX1FhcUcwUWNKLXRjNk85dzRPZzItY05TOGN3Wm1JNmNidTFVRWpNU2FjNXQtWDJrODhuS3BwbERXU3MwR2MycDEyQXB4bW9jY3phTm5IUm5wazVHTHFZ?oc=5) · presspubs.com

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=64168 (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/40.json (key "64168", 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=64168
- 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