# FINANCIAL ONE
Columbia Height, MN · NCUA charter 64287 · asset band $200-500M · latest filing 2022-09 · stopped filing after 2022-09 (departed; for a credit union that is almost always a merger)
Share link (named URL with a preview card): https://getbookiq.com/cu/financial-one-64287

Who the members are: state charter, organized 1933, low-income designated. 10,242 members of 363,887 potential (2.8% of the field); checking penetration 66% (share draft accounts per 100 members); loans per 100 members 103.

**Verdict on the desk:** this could be *too clean*. Composite score 6 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $204.4M |
| Members | 10,242 (-1.6% YoY) |
| Full-time staff | 30 |
| Net worth | $17.2M |
| Net worth ratio | 8.4% (p20 of band) |
| ROA (annualized) | -0.29% (p1 of band) |
| Total delinquency | 0.15% (p19 of band) |
| Net charge-offs (annualized) | 0.20% (p67 of band) |
| Loans / shares | 110% (p99 of band) |
| Cash / assets | 0.9% |
| Borrowings / assets | 8.89% |
| Net interest margin | 3.85% (p98 of band) |
| Operating expense / assets | 5.05% (p98 of band) |
| Vehicles % of loans | 13% (p9 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 27% |
| Third-party paper % of net worth | 618% (p99 of band) |
| Vehicle delinquency | 0.02% (p7 of band) |
| Vehicle NCO | 0.57% (p86 of band) |
| Repossessed % of vehicle book | 0.00% (p27 of band) |
| Real estate % of loans | 16% |
| Credit cards % of loans | 2% |
| Unsecured % of loans | 3% |
| Commercial % of net worth | 116% |
| Core shares % of member funds | 59% |
| Certificates % of member funds | 22% |
| Average share balance | $7,958 |
| Participations bought / yr | $551,297 |
| Participations sold / yr | $26.8M |
| Participations outstanding | – |
| Loans outstanding per 100 members | 103% |
| Loans granted per 100 members, annualized | 26% |
| Average loan balance | $17,299 |
| Loans granted, annualized | $72.6M |

## Flags firing in the latest filing

- **thin capital** (`cap_low`)
- **losing money** (`earn_negative`)
- **expense trap** (`earn_opex`)
- **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 | thin capital, loans>95% of shares, 3rd-party paper>100% NW |  |
| 2016-06 | 3 |  |  |
| 2016-09 | 3 |  |  |
| 2016-12 | 3 |  |  |
| 2017-03 | 4 | net worth falling |  |
| 2017-06 | 3 |  | net worth falling |
| 2017-09 | 3 |  |  |
| 2017-12 | 3 |  |  |
| 2018-03 | 3 |  |  |
| 2018-06 | 3 |  |  |
| 2018-09 | 4 | delinquency rising |  |
| 2018-12 | 3 |  | delinquency rising |
| 2019-03 | 4 | net worth falling |  |
| 2019-06 | 3 |  | net worth falling |
| 2019-09 | 3 | delinquency rising | loans>95% of shares |
| 2019-12 | 4 | delinquency 2x band |  |
| 2020-03 | 2 |  | delinquency rising, delinquency 2x band |
| 2020-06 | 4 | net worth falling, margin squeeze |  |
| 2020-09 | 4 | loans>95% of shares | net worth falling |
| 2020-12 | 3 |  | margin squeeze |
| 2021-03 | 2 |  | loans>95% of shares |
| 2021-06 | 2 |  |  |
| 2021-09 | 2 |  |  |
| 2021-12 | 3 | loans>95% of shares |  |
| 2022-03 | 2 |  | thin capital |
| 2022-06 | 2 |  |  |
| 2022-09 | 6 | thin capital, losing money, expense trap, leaning on borrowings |  |

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

- 2022-10-04 [Financial One Credit Union joins Magnifi Financial Credit Union - Business Wire](https://news.google.com/rss/articles/CBMivAFBVV95cUxObDgySkpqal9XNXhLTkFJdjEwenZzXzlMMzdsZ1dnTjMtOUk5VkgwQU1tOWRfRnhZVVFhaHVHTTNwblpEQTI3b2hkcFFMSkptdjhvVGlLYnJmdWNGNFBRaTRISTVhVVNNTlJVRDdrSUpWWGdxTVZCdk9CcjFCWUxzNDJLRkJLMDFjNEowYVJiLUt5YTZiSDFvQ3A4cW11c0p5WFJXRjZKaF91dEFpVVFtRHpBRUJtTjBsSkV1Mw?oc=5) · Business Wire
- 2022-10-17 [In Business: Magnifi Financial merges with Blaine-based credit union - St. Cloud Times](https://news.google.com/rss/articles/CBMi0gFBVV95cUxNZ2FubkNMS3ByZG0weURheVZTaFZ5cncxX2VQaEJsU0M2SU5uQ0xnOHl6LWhxNjlxQ0RzSTRkck5yZlpSYy1uTGNBNW5Odks1WkxlOUFkM2xIczhJLXJZVzBVbkphQ29pUnhnaDRDdTl6a1NaT1h3amdtNVR4UWxfdWlSR2Y5RDhvUEw1ZFhVMjNXQ2R6Z3dCNmtXZlhXaEF1ZXd0Y05yOF9oc2QwYy1OcTl6cU1KZGE3dkwtMU9CZjR2UHo1YW1PYUt4X2J2NXAxSmc?oc=5) · St. Cloud Times
- 2022-02-15 [Central Minnesota Credit Union to Become Magnifi Financial - Business Wire](https://news.google.com/rss/articles/CBMitgFBVV95cUxNWGpmQS12eGpLWEJDNFNTLXRTVWI4a3MxZGZWa1ZvRzNWQlZ1QTF2TWtfMGpOOUVqcE1ldHBRZWVBNi1CMmpoM1JLYWN0eGhCUUx1NEx6VGZpdHJpSUZLZk0zSFhRZWhpVHoxREhUcXdsR1VPbW9Jek1OdmZVaWpldDRhUlJmbmh6czBxWEpKQjZzcVd3NDljOUY3Tncxd0V1SU1IVUhCTjdabGRDZm84a0xkRXNGUQ?oc=5) · Business Wire
- 2023-03-24 [Riverdale Updates, Upcoming and Newly Opened Businesses in Coon Rapids - coonrapidsmn.gov](https://news.google.com/rss/articles/CBMic0FVX3lxTE9EQ2poa2tZUkJyd2tMUFZaemdCQWJYNk1TUHBMU01fV05BQUtOYXJ1RXBXNkppOE9Xd0tRV0VUR09pbGlDay1vUzlxN3B6b0szOEFhWmE5c0VUcFJkQTlIMEJ5TVlidHk2LUZnb2FhRzhfZ3M?oc=5) · coonrapidsmn.gov
- 2013-03-15 [40 under 40: Previn Solberg, Financial One Credit Union - The Business Journals](https://news.google.com/rss/articles/CBMipwFBVV95cUxOVGRQa1B0eFJxNkZxb1lPYndmTHZXSjF6RlRZeWl3Z0RXT3VwZ3pwSVhtRUNjcmJzVWRCRFFQNGI3QjlKb1IycWd1dGlWUVZFcEtIZWFrN3Ytd3o2SFlRTDFLaHNodGFhc2tKc01xME5EUkd2T1lIMjVPVjdqaWprb3ZNQVozUzNFM3hiODBKcGY4TUo2NWNzVDBpY3pBSFFIZDE1VVVNaw?oc=5) · The Business Journals
- 2018-10-21 [Business People: Sunday, Oct. 21 - Pioneer Press](https://news.google.com/rss/articles/CBMid0FVX3lxTE9RTENpcmdxYldQX3J3MnRjbC1IX0UwUEhmMU9FZVVDdml1NlJ2UVdJa1hRcUlBZllSZmEwNjl0U1pKZTN0YlVtUzU4bUt0dzBfbXpnQ3dpZG9Zd25CV2VoS0ZDbDB1MS16WW4xVFE4YTBLWWU4MGdN?oc=5) · Pioneer Press
- 2024-01-08 [JoAnn Marie Cirks - View Obituary & Service Information - washburn-mcreavy.com](https://news.google.com/rss/articles/CBMiakFVX3lxTE1xV3o2QXV5LWNSQ3dYY3lZOG95VmdoU0lybE9TRHhpTnlOaE5QOVFKNGNSdDF3eWNqRVFQNFp5VVpuNHZ0UkVSZWNtd2dva2ZaV2hkc1VMWVFXTnMyWXRnNUh2OXEwWWN1OUE?oc=5) · washburn-mcreavy.com
- 2007-10-24 [Columbia Heights / Banker pleads guilty to embezzling - Pioneer Press](https://news.google.com/rss/articles/CBMilAFBVV95cUxPcFV1UU9BS0lGa3JDbnpVNW8yZjg1VXBTeGdJMnIwRFB4NnFrUmpuVkM3MGkyZ0NuUUhkT25EeElDNmZaMkt1VmJrZ1ZiRFFkNHRWTzk1VnRnUFZQZjZoNENuZFpUcHpTLS1MWnM2NWMtcGh6WmR3ZHo3T0lqSm1rT3RhN2xCc2kwS083TUtSdm1QU0ZL?oc=5) · Pioneer Press

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=64287 (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/31.json (key "64287", 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=64287
- 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