# MEMBERS FIRST
MADISON, WI · NCUA charter 67008 · asset band <$50M · latest filing 2023-09 · stopped filing after 2023-09 (departed; for a credit union that is almost always a merger)
Share link (named URL with a preview card): https://getbookiq.com/cu/members-first-67008

Who the members are: state charter, organized 1955. 2,829 members of 250,000 potential (1.1% of the field); checking penetration 48% (share draft accounts per 100 members); loans per 100 members 54.

**Verdict on the desk:** this could be *liquidity-tight*. Composite score 2 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $27.9M |
| Members | 2,829 (-1.1% YoY) |
| Full-time staff | 9 |
| Net worth | $4.0M |
| Net worth ratio | 14.3% (p57 of band) |
| ROA (annualized) | 0.46% (p41 of band) |
| Total delinquency | 1.97% (p80 of band) |
| Net charge-offs (annualized) | 0.36% (p71 of band) |
| Loans / shares | 95% (p90 of band) |
| Cash / assets | 11.9% |
| Borrowings / assets | 0.00% |
| Net interest margin | 4.34% (p81 of band) |
| Operating expense / assets | 5.17% (p87 of band) |
| Vehicles % of loans | 46% (p29 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 0% |
| Third-party paper % of net worth | 0% (p43 of band) |
| Vehicle delinquency | 2.64% (p87 of band) |
| Vehicle NCO | 0.57% (p83 of band) |
| Repossessed % of vehicle book | 0.00% (p46 of band) |
| Real estate % of loans | 37% |
| Credit cards % of loans | 3% |
| Unsecured % of loans | 12% |
| Commercial % of net worth | 0% |
| Core shares % of member funds | 46% |
| Certificates % of member funds | 31% |
| Average share balance | $4,744 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | – |
| Loans outstanding per 100 members | 54% |
| Loans granted per 100 members, annualized | 13% |
| Average loan balance | $14,934 |
| Loans granted, annualized | $8.5M |

## Flags firing in the latest filing

- **delinquency 2x band** (`aq_dq_high`)
- **loans>95% of shares** (`str_ltos`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 1 | loans>95% of shares |  |
| 2016-06 | 1 |  |  |
| 2016-09 | 1 |  |  |
| 2016-12 | 1 |  |  |
| 2017-03 | 2 | members leaving |  |
| 2017-06 | 3 | delinquency rising |  |
| 2017-09 | 2 |  | delinquency rising |
| 2017-12 | 1 |  | members leaving |
| 2018-03 | 2 | delinquency rising |  |
| 2018-06 | 2 | net worth falling | delinquency rising |
| 2018-09 | 2 | leaning on borrowings | net worth falling |
| 2018-12 | 3 | delinquency rising |  |
| 2019-03 | 3 | delinquency 2x band | leaning on borrowings |
| 2019-06 | 1 |  | delinquency rising, delinquency 2x band |
| 2019-09 | 1 |  |  |
| 2019-12 | 2 | net worth falling |  |
| 2020-03 | 2 | delinquency 2x band | loans>95% of shares |
| 2020-06 | 3 | delinquency rising |  |
| 2020-09 | 1 |  | net worth falling, delinquency 2x band |
| 2020-12 | 1 |  |  |
| 2021-03 | 2 | charge-offs p90, repo signal | delinquency rising |
| 2021-06 | 1 | delinquency 2x band | charge-offs p90, repo signal |
| 2021-09 | 2 | delinquency rising |  |
| 2021-12 | 1 |  | delinquency rising |
| 2022-03 | 2 | delinquency rising |  |
| 2022-06 | 1 |  | delinquency rising |
| 2022-09 | 2 | expense trap |  |
| 2022-12 | 2 |  |  |
| 2023-03 | 1 |  | expense trap |
| 2023-06 | 1 |  |  |
| 2023-09 | 2 | loans>95% of shares |  |

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

- 2025-09-04 [Credit union expands Baltimore County presence with acquisition - Maryland Daily Record](https://news.google.com/rss/articles/CBMipAFBVV95cUxQWUQtTDdQbmVsbU1rdUJETzJHZEMyRUoyVGhwSFlyTzA1Mk1uMmhZWkpIZTNwc2hsZlNqRUpobkpCamVhcGtVaUNiM1JoOE1leUxoX1c5clp0eDJCNHNjQXlkQXNoaHMtUWVteTZxcHUtRjNpV2szVkZUMGtNczRvU01FbHEtQzREcmxTa1NxajdJbHJXNHQwTHl0dVEwUFo2NGlXdw?oc=5) · Maryland Daily Record
- 2026-05-08 [APGFCU hosts ribbon-cutting for 3rd Baltimore County branch - Maryland Daily Record](https://news.google.com/rss/articles/CBMinwFBVV95cUxNWXFUMG1lOTBIY3JnbHZfcGJBLUlHOVRkd2lhbXFpYVZLQktmaXNueWdwUnBaMVlvNVpyWGN6R0dYMVZ1ZDhndFNMNGRiVDZFNnN3STBqM3VlMnJaX1BKN1cxbjg2eHowTk52cGtJMzJhUDhyZ292YkM0UUlVNVh4bGhaakpydWhWd2d2NzgxRVRMZ0pfeFRvUDNGZTlIaHc?oc=5) · Maryland Daily Record
- 2012-02-12 [Obituary information for David John Krauth - Gunderson Funeral Home](https://news.google.com/rss/articles/CBMidkFVX3lxTE15TndDUXhQUTNtM0x0RldJaVhLQmtRcjdPQWstWlBnRGpBaHBVQWJwUEhJYnF6NWFFNWhUWVp2Q3JrRllPelJocW9pWVRBeVVQcVg4emZ3Y3hyVm1oMHB0YlNWR1QxS2dMRlJsZVFfMUZ1c3U3LVE?oc=5) · Gunderson Funeral Home
- 2023-06-29 [Where the Jobs Are: Royal Credit Union Offers More Than a Job -... - Volume One](https://news.google.com/rss/articles/CBMirgFBVV95cUxQMU55NXJTcUcyZF9zWlNUb2ZiMU4yN2VVdXRZenktWTg1U2RyejNuTjI1WUdreTA2S2lXaGl3RXFMZHI3V1FyQUNfbVVqX003N3RvOHU4WGl0SHAtU2dSZUNTVVBXRFhVNjZrSndYbkE1SnU5NzcyeExERUhYMlRJZ0RRa1FHWVFRaXctX1NPanFnRzBORkhOUUo5LWo3SVhZMkJrMDNqT0UxaUxFV1E?oc=5) · Volume One
- 2018-10-02 [Here are all of the banks that currently support Apple Pay - iMore](https://news.google.com/rss/articles/CBMid0FVX3lxTE9ZY3JkQUdrNTNjWmMzVFk2QXBlWExaRnI3bjVsQ28wVlFRWUc5TEVWMm5TWkZ6RmtKTTNZRUhKbExyS25yb2pnRTc5VklBeW13Mzk0aU9MWVNGbHpiMDJUM1pfOVFvdFhCdGpNLUJQVG9ybXYzNlc4?oc=5) · iMore
- 2017-08-08 [Bank robbery suspect left license behind, ends in standoff, police say - The Evening Sun](https://news.google.com/rss/articles/CBMitwFBVV95cUxNYnh3UEt4WDZSbmxDTm5vbXhIVVZlTkx5TFk5WFNCUTB2eE5iVzVocklrYmNPS0NUdWdnWXY2UmZYRHF6NUN5Mnd0enF1TE5lT1dKX3E1ZVNYVm4tT1JUUG9GdXdmQ2duSV9Nd09XdldGeTNKZ1lVR3JqbjdNelFubXdpTG9RSWVGWElLaUNkLTl5dDYxLU1aQnF5eVhRdXdMdHg0U0k5TkszdmYwRjZHODdDQ0MycGs?oc=5) · The Evening Sun
- 2025-03-28 [Mumford & Sons Roll Out Dates For Summer/Fall 2025 North American ‘Rushmere’ Tour - Billboard](https://news.google.com/rss/articles/CBMiiAJBVV95cUxPaUlsd3ZpSlpNVGRqLUMtRU9wbm15V251MXVPVzBKckhSTGZxcEhLWVotbkFGVDNjRVp1N3hxaUwyXzgwbXVjYkNqZ1pjaEhJSWlydDcwQVVFalNBdkRZbk13dlJ2WElDMjBHeTRaU21qWjB2eHNac2djaV9PQlJ0TnNGSVY4eGNldE5oRk1QX3lwZzE1U2dvM1JoSGd0a2pFVVItaDhtdzdfLTc0VXRLTnNpTk1xSHJlSWtTbERNTFFsMnZ4Sm82U3pSd0NucmhvRXhxVkQwTkZJV2xvbnR6bVBIdjQ2VE5ZZEZUZUE3YlpCTVo0T0xwbzNXdGRjbGRvTkROaXhsU2Y?oc=5) · Billboard
- 2020-05-13 [Some Credit Unions Want a Broader Debate about Their Role in the City - Dublin InQuirer](https://news.google.com/rss/articles/CBMiowFBVV95cUxOZGpEWDdyZFBEVElBaHhWLXRMQ08taGoteHdRRGwxWXQ4OUFnVmtYZ1hLaTUyV3NwekhTUVAwUUNJWllLcUVzRlBzTF9oSGFDNm9iYlExbTYzLU9vc2ViRk1heTUtLVRvZ0d4U0ZKTVFnelBxLVdHSU1UWklObzA1N3I0Uzg3ZUdjTXk4TVp6LXVjLW9iSHV0NGMwS2VZYlpIazE0?oc=5) · Dublin InQuirer

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=67008 (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/0.json (key "67008", 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=67008
- 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