# NOVATION
OAKDALE, MN · NCUA charter 65063 · asset band $200-500M · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/novation-65063

Who the members are: state charter, organized 1954. 14,384 members of 500,000 potential (2.9% of the field); checking penetration 63% (share draft accounts per 100 members); loans per 100 members 62.

**Verdict on the desk:** this could be *participation 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 | $252.3M |
| Members | 14,384 (-6.3% YoY) |
| Full-time staff | 32 |
| Net worth | $26.2M |
| Net worth ratio | 10.4% (p36 of band) |
| ROA (annualized) | 1.09% (p76 of band) |
| Total delinquency | 0.66% (p57 of band) |
| Net charge-offs (annualized) | 0.31% (p43 of band) |
| Loans / shares | 76% (p55 of band) |
| Cash / assets | 20.4% |
| Borrowings / assets | 0.00% |
| Net interest margin | 3.49% (p46 of band) |
| Operating expense / assets | 3.41% (p37 of band) |
| Vehicles % of loans | 33% (p49 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 21% |
| Third-party paper % of net worth | 140% (p69 of band) |
| Vehicle delinquency | 0.94% (p75 of band) |
| Vehicle NCO | 0.20% (p21 of band) |
| Repossessed % of vehicle book | 0.15% (p80 of band) |
| Real estate % of loans | 49% |
| Credit cards % of loans | 5% |
| Unsecured % of loans | 7% |
| Commercial % of net worth | 0% |
| Core shares % of member funds | 90% |
| Certificates % of member funds | 4% |
| Average share balance | $7,923 |
| Participations bought / yr | $22.7M |
| Participations sold / yr | $0 |
| Participations outstanding | $25.2M |
| Loans outstanding per 100 members | 62% |
| Loans granted per 100 members, annualized | 87% |
| Average loan balance | $19,433 |
| Loans granted, annualized | $89.4M |

## Participation posture (from the same filings)

Bought $22.7M and sold $0 in the latest annualized quarter; $25.2M outstanding purchased (96.2% of net worth), $0 sold and retained. Sold in 0 and bought in 8 of the last 8 quarters. Shares 2.1% year over year.

## Flags firing in the latest filing

- **delinquency rising** (`aq_dq_rising`)
- **members leaving** (`shrink_members`)
- **3rd-party paper>100% NW** (`str_thirdparty`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 1 | thin capital |  |
| 2016-06 | 1 |  |  |
| 2016-09 | 1 |  |  |
| 2016-12 | 2 | net worth falling |  |
| 2017-03 | 2 |  |  |
| 2017-06 | 1 |  | net worth falling |
| 2017-09 | 2 | delinquency rising |  |
| 2017-12 | 1 |  | delinquency rising |
| 2018-03 | 1 |  |  |
| 2018-06 | 1 |  |  |
| 2018-09 | 2 | loans>95% of shares |  |
| 2018-12 | 2 |  |  |
| 2019-03 | 1 |  | loans>95% of shares |
| 2019-06 | 1 |  |  |
| 2019-09 | 1 |  |  |
| 2019-12 | 1 |  |  |
| 2020-03 | 1 |  |  |
| 2020-06 | 2 | net worth falling |  |
| 2020-09 | 2 |  |  |
| 2020-12 | 2 |  |  |
| 2021-03 | 2 |  |  |
| 2021-06 | 1 |  | net worth falling |
| 2021-09 | 2 | delinquency rising |  |
| 2021-12 | 2 |  |  |
| 2022-03 | 2 |  |  |
| 2022-06 | 1 |  | delinquency rising |
| 2022-09 | 2 | delinquency rising |  |
| 2022-12 | 2 |  |  |
| 2023-03 | 2 |  |  |
| 2023-06 | 1 |  | delinquency rising |
| 2023-09 | 1 |  |  |
| 2023-12 | 1 |  |  |
| 2024-03 | 2 | delinquency rising |  |
| 2024-06 | 1 |  | thin capital |
| 2024-09 | 0 |  | delinquency rising |
| 2024-12 | 0 |  |  |
| 2025-03 | 2 | members leaving, 3rd-party paper>100% NW |  |
| 2025-06 | 2 |  |  |
| 2025-09 | 2 |  |  |
| 2025-12 | 2 |  |  |
| 2026-03 | 3 | delinquency rising |  |

## 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
- 2026-08-20 [‘Urgency, fear and trust’: Fraud prevention seminar highlights tactics used by scammers - 5 EYEWITNESS NEWS](https://news.google.com/rss/articles/CBMivwFBVV95cUxNeFlnQk1MWGlGQ01VYVdBQUtCd0h6cFZKWUx5blc0WjNjTmZSQnR0a1VMT1BhRDg4NndwQVdHUUp2UUl0RE5PbjQyZzR2d1hGUDV5YUl3bmJyQUsxdjZlbG1DZW9DZkRfTUM1Z2ZwRzR4bVFqME9uMk1QdkJGdkJfaUtEcmJaQVJZYWZwMnlUMDdrWWMxclhjYTVpbzYzSHFESlJPVUJuTTl4RzNDNUFNWmJjRVhQOHNSSkhDVVB5Yw?oc=5) · 5 EYEWITNESS NEWS
- 2016-01-28 [Dwayne Johnson Obituary Jan 28, 2016 - Bradshaw Funeral](https://news.google.com/rss/articles/CBMiaEFVX3lxTE5YTTNnUGswMk1qeUNmemI2UG1mN3RLZUJYeURoLVA3bHhpeXh2bTYtWU5NTDg5WmJBQTBqVFA0ZWFSeDJxWVFaSjA3QWxheEdDY0h6WkdpbHM3cTJ4VFB1VFNWRmV0VHoz?oc=5) · Bradshaw Funeral
- 2026-05-21 [Litchfield Man Arrested/Charged with Check Forgery - Ingstad Media](https://news.google.com/rss/articles/CBMiggFBVV95cUxNVWZmOExWcVJ1a1ZXVDZhbklSQlNQQVZKNmNqLWRkX09IY2Y0ZlI0SEY0Nld6a0R5OFp5NlN2c3RnT01jTEs0bEFibkVCcnJ4NHYxMUg1c1dZYU5nZlFBWENyajBiakRkUEdKVWN3UmcyVUdjWjVXNXhRX25OYzgzaVN3?oc=5) · Ingstad Media
- 2003-02-05 [Curtiss Dornseif Obituary (2003) - Saint Paul, MN - Pioneer Press - legacy.com](https://news.google.com/rss/articles/CBMilAFBVV95cUxObW9VT3M0N2EtOHhXU3dtcnlrRFFRbEtwc2drLUZKTWppRmk5aEZZY1IyZWlCTVFZb0tGYUxtdGJvcXZVOXlaVDZSV0V0WklRQzFrYjNSdFppTkZhWnZEOWpqOFZhazBpLUtPMlJxLTl0cVpEYWg3bVhCUVFzaVJuNXlTUkZIZVRPblk0UzNHMUN5NWhi?oc=5) · legacy.com

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=65063 (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/39.json (key "65063", 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=65063
- 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