# CONNEXUS
Wausau, WI · NCUA charter 66538 · asset band $1-10B · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/connexus-66538

Who the members are: state charter, organized 1935, low-income designated. 425,699 members of 6,314,242 potential (6.7% of the field); checking penetration 11% (share draft accounts per 100 members); loans per 100 members 55.

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

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $4.15B |
| Members | 425,699 (-8.5% YoY) |
| Full-time staff | 594 |
| Net worth | $297.1M |
| Net worth ratio | 7.2% (p1 of band) |
| ROA (annualized) | 0.05% (p5 of band) |
| Total delinquency | 1.89% (p97 of band) |
| Net charge-offs (annualized) | 2.04% (p99 of band) |
| Loans / shares | 91% (p64 of band) |
| Cash / assets | 10.9% |
| Borrowings / assets | 3.86% |
| Net interest margin | 3.57% (p67 of band) |
| Operating expense / assets | 2.94% (p35 of band) |
| Vehicles % of loans | 18% (p28 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 84% |
| Third-party paper % of net worth | 894% (p100 of band) |
| Vehicle delinquency | 1.16% (p85 of band) |
| Vehicle NCO | 1.11% (p56 of band) |
| Repossessed % of vehicle book | 0.09% (p56 of band) |
| Real estate % of loans | 14% |
| Credit cards % of loans | 0% |
| Unsecured % of loans | 14% |
| Commercial % of net worth | 0% |
| Core shares % of member funds | 21% |
| Certificates % of member funds | 47% |
| Average share balance | $6,964 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | $140.5M |
| Loans outstanding per 100 members | 55% |
| Loans granted per 100 members, annualized | 21% |
| Average loan balance | $14,062 |
| Loans granted, annualized | $1.11B |

## Participation posture (from the same filings)

Bought $0 and sold $0 in the latest annualized quarter; $140.5M outstanding purchased (47.3% of net worth), $66.0M sold and retained. Sold in 3 and bought in 3 of the last 8 quarters. Shares -5.4% year over year.

## Flags firing in the latest filing

- **thin capital** (`cap_low`)
- **net worth falling** (`cap_falling`)
- **delinquency 2x band** (`aq_dq_high`)
- **charge-offs p90** (`aq_nco_high`)
- **members leaving** (`shrink_members`)
- **loan book shrinking** (`shrink_loans`)
- **3rd-party paper>100% NW** (`str_thirdparty`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 2 | delinquency 2x band, 3rd-party paper>100% NW |  |
| 2016-06 | 1 |  | delinquency 2x band |
| 2016-09 | 5 | thin capital, net worth falling, delinquency 2x band, leaning on borrowings |  |
| 2016-12 | 2 |  | thin capital, net worth falling, leaning on borrowings |
| 2017-03 | 2 |  |  |
| 2017-06 | 4 | thin capital, net worth falling |  |
| 2017-09 | 2 |  | thin capital, net worth falling |
| 2017-12 | 2 |  |  |
| 2018-03 | 2 | loans>95% of shares | delinquency 2x band |
| 2018-06 | 3 | members leaving |  |
| 2018-09 | 3 | delinquency 2x band | members leaving |
| 2018-12 | 3 | net worth falling | loans>95% of shares |
| 2019-03 | 3 |  |  |
| 2019-06 | 4 | thin capital |  |
| 2019-09 | 3 | loans>95% of shares | net worth falling, thin capital |
| 2019-12 | 3 |  |  |
| 2020-03 | 3 |  |  |
| 2020-06 | 4 | net worth falling |  |
| 2020-09 | 4 |  |  |
| 2020-12 | 4 | repo signal | net worth falling |
| 2021-03 | 3 |  | loans>95% of shares |
| 2021-06 | 4 | charge-offs p90, loans>95% of shares | repo signal |
| 2021-09 | 4 |  |  |
| 2021-12 | 5 | net worth falling |  |
| 2022-03 | 4 | expense trap | charge-offs p90, net worth falling |
| 2022-06 | 4 | delinquency rising, charge-offs p90 | loans>95% of shares, expense trap |
| 2022-09 | 6 | net worth falling, loans>95% of shares |  |
| 2022-12 | 6 | thin capital | delinquency rising |
| 2023-03 | 5 |  | net worth falling |
| 2023-06 | 5 | delinquency rising | thin capital |
| 2023-09 | 5 | thin capital | delinquency rising |
| 2023-12 | 7 | net worth falling, margin squeeze |  |
| 2024-03 | 8 | losing money |  |
| 2024-06 | 8 | assets shrinking, leaning on borrowings | thin capital, net worth falling |
| 2024-09 | 8 | loan book shrinking | leaning on borrowings |
| 2024-12 | 8 | thin capital | margin squeeze |
| 2025-03 | 9 | net worth falling |  |
| 2025-06 | 9 | members leaving | net worth falling |
| 2025-09 | 9 |  |  |
| 2025-12 | 10 | net worth falling |  |
| 2026-03 | 7 |  | loans>95% of shares, losing money, assets shrinking |

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

- 2025-12-09 [Connexus Credit Union named Computerworld’s 2026 Best Places to Work in IT List - CUInsight](https://news.google.com/rss/articles/CBMiuwFBVV95cUxPYlQyVGNsQ0RLZkN6Z0VWTmJ1M1ZmME92b2w4bEZRRHZobmo1V09uc2NaRkpPTWI1Mnd5THRrcjNHVWhORk55bzRLLTBLV3FMNm51N0JGTUlHNU5oOVdNOWM5WElfdy1RRElUeERnUktLb3FKbTVnbkdtZ1hiSDdQcHlpUlYwNno5R1JDYnZWVzNhdUVOMDNDVHVtS0pEU3M0Z2JTcWtza3hxUTZtSk5Ld0VuMHdmc3VoUDFn?oc=5) · CUInsight
- 2022-09-02 [Business of the Week: Connexus Credit Union - Wausau Pilot & Review](https://news.google.com/rss/articles/CBMikAFBVV95cUxQRlBTVHdXWFpjbks3MFNPQXFhRUFPRXQxbEx1S3p6R29wSkllR3hPRkRHMEtrcTl5UDlTeklMemZpZ0d1SHVTMzMtRUVqb09uQmk5eFcta2F5NVI5NWRZc3ZYR3pEcE8yZ3hXb2M5d3V2WllCYWg5MnBZdmtBaUtMTHBKc1p1eGRsdHBXc3gtQW4?oc=5) · Wausau Pilot & Review
- 2022-06-22 [Connexus Credit Union announces plans for branch in Rib Mountain - WSAW](https://news.google.com/rss/articles/CBMilAFBVV95cUxNd2xUNkhNeURGWG10cDB1bmhYeTllb0owTUFmTWxQTFJKNDRBVXRPZ3FrbHF6ckxrdW5CbXVzS0NCUnRMMzYycDBrUDV4S1dWRWxPZ1BHZC1ObVFvcFJxRklYaThhNnlva0NZaUotcXRVQlppRzAyNWVaSWRadVA3TWkxZEhtdFJhUmxYVU9LcHgtWXVj0gGoAUFVX3lxTE94eW1ydDNxYUF1WUdCWVhBRjVSWUpka2Zyb2cxcnd4MGUzcjctTTdCSzM3LVJVN3pqVDM2dEthU3dnWWxUR3NYenhmRVRyenY3QkRidTR5OTVtbWNYTHNkNDhHMVQyaFpZT0U3M182OXZ1ejFWMHFfbFZIWGNRRExTb3N2a2oxQUh6QXcxNFNiM1N2RGItVHZ0WWFXMk5rN3kwaDJxM3RFVQ?oc=5) · WSAW
- 2024-03-11 [Adam Keer named Chief Institutional Lending Officer at Connexus Credit Union - CUInsight](https://news.google.com/rss/articles/CBMiuAFBVV95cUxPYklHNEZVR041dEQzQm9rXzZDS2hFa3JWSXlvY29EdnRkazdWbjA0WVp5cFB0QWdGb3E2TER5alRSWm1RZVN6amZkUzU2MUtnMFFfeWtGYTVyMEM4REtqNG1jbmQ1Wk02WnFUNDB3RkROOXNDcnZaVTZvWl9HcmhLYWpRdHJuWEtITFg0ZHpnUkZGUThGS21wZUVQb05ndlpKbi1NSnBDZFUzNmNRYmRwREtYa0lkakhJ?oc=5) · CUInsight
- 2018-11-29 [Bull's Eye Credit Union: What you need to know about this week's merger with Connexus - Daily Tribune Media](https://news.google.com/rss/articles/CBMiywFBVV95cUxPZDJTUkJQVndTTG8tU3paaUszS3VpWERRd3dXTmg0SnBXVnh1U2VzaTFqdXJIRmdVTDRGY0RucUFHUzN2Q3FmUzBYQWRPTTJDaHpJRENMMXZkNmxGcm1hNllqSFc4SUVTbVVsWnQ4ajdDemp0NW9PeTVsOUg1bFpuLUJWTzNOTGh3Ukc1cGZrZHNXWml3YkZ4RzVIUVVROUczcndiZnA4ZXh6QXVQR0h0WGhSamFOazhKa2VtQkh0U1B4MmRrZ0JzZGRtOA?oc=5) · Daily Tribune Media
- 2025-05-27 [Connexus lays off more workers amid organizational restructuring - Wausau Pilot & Review](https://news.google.com/rss/articles/CBMirgFBVV95cUxOLXEtM2FxSEdHal9yZTJDN3VyRjJjQTh4WFVPakJWZFAwdHpjbGR2NXdDRVlIYWR1emtlaVNRYXcta1h3M3lmd0JyaC1jaGgwRnpudVB0WnZHajVRS0diUFYySzNsMXJFdWl0T0tvRnJCakt1bllSeXBMU2FERDh0RWhpWnYtRG5FX3JKOTI1a09zNGJNNUZKRlZkc3F4b05LUEtQb1pnbnRXUTlVbEE?oc=5) · Wausau Pilot & Review
- 2022-04-24 [Connexus Credit Union reopens Wisconsin Rapids branch and celebrates new investments in the community - CUInsight](https://news.google.com/rss/articles/CBMi2gFBVV95cUxOOWt5RmlrNVFlNDlwRm15UXVCcDBaaWtqRWQyTHVIdXRiREc1ZEhKcjQ4b2JveUI1SEtyWndxemVuYWdRMlRLYlhyWWZkWW5GbGdsZDN6YmpkYjcwVWMyUV9TWkRPMUVYX0RXNE5FSURCa2tDTXRkd3Q3UDFwb0N4Z3NraHozNVNfNHpmdEY2RXVMOTd2cVVzY2Y0ZHFRbHJlLWtKbmRQRVV1WFFyT1FuR29YNml4TDczckdQZy11WE5wcHl2eVQ0NFpBWkVpMlVfdTRfNWhNLUtlZw?oc=5) · CUInsight
- 2022-06-22 [Connexus Credit Union invests in Wausau Community with new, innovative Rib Mountain Branch - CUInsight](https://news.google.com/rss/articles/CBMiygFBVV95cUxQREF6RVdLWTNfdFNZSkdOd1RzUUFsN2x3T19JMlRtNnFCVzR0empKY2ZaWVZjRExmdVNXMUVtd1pkQTFEY01hNkg4Y0VIMVNReTVrX1E5QzZEMnBNelFjWm5IenF5RDI3bnlzWlFBTm9OQUFFZDJKMVZrQWRYdmlHNEV4VWc5aDRSLWgtd1cydlpWR0dRelE2S3JNUHp4TnlJdVl4RVZQSm9LLWdGdnpUSmNLanZoLXF3aDRkSnMza0hjQTVTQl9US2hR?oc=5) · CUInsight

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=66538 (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/42.json (key "66538", 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=66538
- 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