# SHIPBUILDERS
MANITOWOC, WI · NCUA charter 66444 · asset band $100-200M · latest filing 2024-09 · stopped filing after 2024-09 (departed; for a credit union that is almost always a merger)
Share link (named URL with a preview card): https://getbookiq.com/cu/shipbuilders-66444

Who the members are: state charter, organized 1938. 10,565 members of 575,703 potential (1.8% of the field); checking penetration 52% (share draft accounts per 100 members); loans per 100 members 30.

**Verdict on the desk:** this could be *ordinary*. 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 | $119.4M |
| Members | 10,565 (-0.5% YoY) |
| Full-time staff | 24 |
| Net worth | $13.8M |
| Net worth ratio | 11.6% (p52 of band) |
| ROA (annualized) | 0.70% (p50 of band) |
| Total delinquency | 0.46% (p37 of band) |
| Net charge-offs (annualized) | 0.06% (p14 of band) |
| Loans / shares | 82% (p66 of band) |
| Cash / assets | 11.2% |
| Borrowings / assets | 0.00% |
| Net interest margin | 3.42% (p46 of band) |
| Operating expense / assets | 3.61% (p52 of band) |
| Vehicles % of loans | 33% (p40 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 25% |
| Third-party paper % of net worth | 53% (p55 of band) |
| Vehicle delinquency | 0.03% (p7 of band) |
| Vehicle NCO | 0.25% (p34 of band) |
| Repossessed % of vehicle book | 0.00% (p32 of band) |
| Real estate % of loans | 60% |
| Credit cards % of loans | 0% |
| Unsecured % of loans | 1% |
| Commercial % of net worth | 15% |
| Core shares % of member funds | 65% |
| Certificates % of member funds | 16% |
| Average share balance | $5,635 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | – |
| Loans outstanding per 100 members | 30% |
| Loans granted per 100 members, annualized | 8% |
| Average loan balance | $27,046 |
| Loans granted, annualized | $23.7M |

## Flags firing in the latest filing

- **delinquency rising** (`aq_dq_rising`)

## 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 | 1 | delinquency rising |  |
| 2018-03 | 1 |  |  |
| 2018-06 | 0 |  | delinquency rising |
| 2018-09 | 0 |  |  |
| 2018-12 | 1 | loans>95% of shares |  |
| 2019-03 | 0 |  | loans>95% of shares |
| 2019-06 | 1 | delinquency rising |  |
| 2019-09 | 1 |  |  |
| 2019-12 | 0 |  | delinquency rising |
| 2020-03 | 0 |  |  |
| 2020-06 | 2 | net worth falling, margin squeeze |  |
| 2020-09 | 1 |  | net worth falling |
| 2020-12 | 1 |  |  |
| 2021-03 | 2 | net worth falling |  |
| 2021-06 | 1 |  | net worth falling |
| 2021-09 | 0 |  | margin squeeze |
| 2021-12 | 0 |  |  |
| 2022-03 | 2 | net worth falling, members leaving |  |
| 2022-06 | 3 | losing money |  |
| 2022-09 | 1 | delinquency rising | net worth falling, members leaving, losing money |
| 2022-12 | 0 |  | delinquency rising |
| 2023-03 | 1 | delinquency rising |  |
| 2023-06 | 1 | net worth falling | delinquency rising |
| 2023-09 | 0 |  | net worth falling |
| 2023-12 | 0 |  |  |
| 2024-03 | 0 |  |  |
| 2024-06 | 0 |  |  |
| 2024-09 | 1 | delinquency rising |  |

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

- 2024-03-11 [Kohler Credit Union to merge with Manitowoc-based Shipbuilders Credit Union - BizTimes - Milwaukee Business News](https://news.google.com/rss/articles/CBMingFBVV95cUxOSE1qNlFlSGRuemQwOXNPUXVSUnVCaVFOak41WExjYnlKZTNVWFJ3ZWJfZFlEMF8xN0pneExGNnNCaU1XU1RQUzZZSDFPYWcxcndJZ3I3NG5KTVVxTzZxTnVGdHlycE1XZHozcnV2Vy1jNkNXUzc0X0RSOWhhUWlFd0gtUHFzRi1hYzZFV3BLbTZIakwyamt3SWlZVDlwZw?oc=5) · BizTimes - Milwaukee Business News
- 2018-03-03 [Mishicot's State Bank building, now Shipbuilders Credit Union, turns 108 - Herald Times Reporter](https://news.google.com/rss/articles/CBMi0AFBVV95cUxOMnV0TmZjV1lVTmlZdGwyTUZpNXRvXzhtNHZlWmRBalRuMFhHcHl4MDZkQmwyNFdvOUJabG9RbGVvX2pWMjc2VWJ4aEVqb3E0MllFM0tadU5BMzdQUVZHTXZ6VWNnZU1pRFBmcUlJb0R6dXhJMHctRHFlM0hWRHpEYVhYTW9ac193VDlFRDNaU3h0NlkycDlEQVdqaEhyMTMyYU5jYTItSVJsUE5TclQwQS1sdzJveXQ3S0NKcnJnbkI2VW1JbUFTV0NwN0hIN2JG?oc=5) · Herald Times Reporter
- 2020-12-03 [Manitowoc business news: Shipbuilders Credit Union makes staff changes - Herald Times Reporter](https://news.google.com/rss/articles/CBMixwFBVV95cUxOdGJOOTBPc2FsTzVlTHA2a2NIckU0b2xnX0U1bkRRY054TW1MY3BldTR2aFVvelFzUmdRTk1ib01Qdnp5UHlmeXRGalZ6SV85cDVWNXk3ZFZ6aU1sOVZHYjFUT0k3bWYzZHhpZjFBRU9KdERoY054bUgzcmNUbHB2X1p2cVltMTczX2QxVUk3QnFyTG5FSUE1bWJ1c05FMHExT1lQV2cySWRld1RiM0FweVRRZzY5ck9LejlsY3dFUUVZdXVVd0Jz?oc=5) · Herald Times Reporter
- 2022-01-06 [Shipbuilders Credit Union CEO retires and two local business acquisitions are announced - Herald Times Reporter](https://news.google.com/rss/articles/CBMi1AFBVV95cUxNQXQ1dkJCdFNYZ2hVMVFPWHFxa2I3djJ1YmVPbE1QWXF5Tl9XY0thZzlQYUdwRzV4c3Yzdi1ORktGcDl1X3VDbGRBX05oVDBmME00NnZyMEx0a0NmbjFsTHY0NE9qMlloYWJTaUxLNEZWbEEzcDRQRmMxb29TTHJKUjJvMHQtZktkaEZrMHlIcHp6MVI1allaQ0ZjdC1IelBMQ2NJN1g4ckNid1NlRU9BZGU3OFlPWDZTYkFqRjA2ZGFVMU9yQ2tmc2V3b3ZiLXdpdVF0Yg?oc=5) · Herald Times Reporter
- 2022-01-12 [Manitowoc venue scores design award and local credit union has a new CEO | Streetwise - Herald Times Reporter](https://news.google.com/rss/articles/CBMiwAFBVV95cUxOdGRkMkU3RVkyOGlBRkd1ODVfUXJNMVhFOVk0TDlCUmhQQWI3WlNHWFR6OG8wNVJCVElORGduRkQ2OUxaZHhMNDF2b1NCeU5zMEs4Z3NkLXVNc3NkWUEwXzJGN2c5ZWdPWlhhVUE3RkVwX2RzR1BVN1RibmplWE84RDZIRHY1b3RsU0JJWXBpR3F3VHljdmRPX09FSzNDWkN5TjVyWFNiVXFHUUkwYVV3NU41a3B0Ylp0SjUwWUVnV0Y?oc=5) · Herald Times Reporter
- 2017-04-08 [Groups recognized for dedication to Mishicot - Herald Times Reporter](https://news.google.com/rss/articles/CBMixgFBVV95cUxON3d3dW1KWEFCQUh4MjViMFFMbF9rZFpEZEtNSzJScjRhcXNPWmNsQ1A0VUxRaUt3WUJ5dEtUaktkLW5EbE5FNzRJZWo2OWlLWm1oZ3Q0ZV9EWFZfZFRiREMxbnlqdFYtaVZGei1Gck9zSU42Z1RpWGcxSWktV0p2T29JZV84Y2YwTU5FRTZsaWFteGt3SXNuRDNWQkRYWUFVSkR5enpZQnN2Yy1PRUZldWpSRGZUTk1VODZnaW1FamNuWkg4a0E?oc=5) · Herald Times Reporter
- 2020-04-24 [Manitowoc's The Haven men's homeless shelter nets $20K from Shamrocks for Shelter event - Herald Times Reporter](https://news.google.com/rss/articles/CBMivgFBVV95cUxPTjh2elViajJvdXNxbjJkX0w2TlFjNEVNRTJpcXlKZ0pNSHo2NFBIRURZckZCSWE4YkNjSlZPQzhUcExQeFBUTEsxVnZ4NFN6NkJ6R0JWX0FCZjNwWmtLUDRlU0FrcHU5ZzV0dkZnWVhNT0FndEtPRk5DcmpkaDBJS0g1cWEzVTJHanh5Vy1hMm5sRUJsQmFjQy1rc2ZhWDRaM28zZ1hfTUlMTWdINGs1bzdWMjk4bS1VaThSUS1n?oc=5) · Herald Times Reporter
- 2019-06-19 [Cedar Crest Ice Cream 4-H Flavor Contest to create new tastes | Manitowoc news briefs - Herald Times Reporter](https://news.google.com/rss/articles/CBMi0gFBVV95cUxPLW11cTdLVTZhalZmellqenNUV3N0UmgyNU1qa3F4dWlodjUyOENJeGktbnRJLWdCYmQ4bjR5WUd1MTlIdjRPeVR5d1VscVkwazRXb1hFMzZpMDJYQ2dXaGtxNk94OHBIZnNlTlNsUjgxREhBNzEtMHM0X3RyWEdkV1ZzLUhkTVdJbm1fN3hMVXk1eWR3M1l3ajQ5M3dZNm00WWJydlBxYXVCWUhnUE9SNXVRaXVEekpPWUYwa0xVMm5DZjFDYldRN1g2bkhhbUpHQnc?oc=5) · Herald Times Reporter

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=66444 (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/12.json (key "66444", 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=66444
- 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