# BRIDGEWATER
BRIDGEWATER, MA · NCUA charter 67984 · asset band $200-500M · latest filing 2018-12 · stopped filing after 2018-12 (departed; for a credit union that is almost always a merger)
Share link (named URL with a preview card): https://getbookiq.com/cu/bridgewater-67984

Who the members are: state charter, organized 1941. 32,248 members of 200,000 potential (16.1% of the field); checking penetration 45% (share draft accounts per 100 members); loans per 100 members 36.

**Verdict on the desk:** this could be *indirect buyer*. 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 | $378.9M |
| Members | 32,248 (3.6% YoY) |
| Full-time staff | 64 |
| Net worth | $36.3M |
| Net worth ratio | 9.6% (p29 of band) |
| ROA (annualized) | 0.10% (p3 of band) |
| Total delinquency | 0.31% (p21 of band) |
| Net charge-offs (annualized) | 0.05% (p5 of band) |
| Loans / shares | 88% (p58 of band) |
| Cash / assets | 4.5% |
| Borrowings / assets | 8.72% |
| Net interest margin | 2.37% (p7 of band) |
| Operating expense / assets | 2.90% (p19 of band) |
| Vehicles % of loans | 39% (p51 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 54% |
| Third-party paper % of net worth | 157% (p62 of band) |
| Vehicle delinquency | 0.11% (p8 of band) |
| Vehicle NCO | 0.13% (p11 of band) |
| Repossessed % of vehicle book | 0.02% (p48 of band) |
| Real estate % of loans | 57% |
| Credit cards % of loans | 0% |
| Unsecured % of loans | 1% |
| Commercial % of net worth | 72% |
| Core shares % of member funds | 56% |
| Certificates % of member funds | 29% |
| Average share balance | $5,603 |
| Participations bought / yr | $11.5M |
| Participations sold / yr | $0 |
| Participations outstanding | – |
| Loans outstanding per 100 members | 36% |
| Loans granted per 100 members, annualized | 11% |
| Average loan balance | $23,570 |
| Loans granted, annualized | $84.4M |

## Flags firing in the latest filing

- **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 | 2 | delinquency 2x band, leaning on borrowings |  |
| 2016-06 | 2 | loans>95% of shares | delinquency 2x band |
| 2016-09 | 3 | 3rd-party paper>100% NW |  |
| 2016-12 | 2 |  | loans>95% of shares |
| 2017-03 | 3 | net worth falling |  |
| 2017-06 | 3 |  |  |
| 2017-09 | 3 |  |  |
| 2017-12 | 2 |  | net worth falling |
| 2018-03 | 2 |  |  |
| 2018-06 | 3 | net worth falling |  |
| 2018-09 | 2 |  | net worth falling |
| 2018-12 | 2 |  |  |

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

- 2025-03-24 [Merrimack Valley Credit Union and Bridgewater Credit Union finalize rebrand to BrightBridge Credit Union - CUInsight](https://news.google.com/rss/articles/CBMi3gFBVV95cUxQX0N1S05GRHp0SnNNQ1daX1dBUGs0RTRmTUZ5MWR6MXFGbG1oaU1NR2VpaUJoTnJIN1FuLUI2YkktOWt1UjlWcU80eWpjWHpsNGU4QmNyM21PekZqa0ROdDBsd3pXV1JpSTBZdUFCc0QwUTFtNDgydTRXQXZTUmY0YXpPTGtwOXU3QnZDc0k4a1BMUTJzSC1aSlJnRVd1TVBGUGNYTk9Ld0k5Vy1CTXlaRFBkZ2paN0Q0cC1HQ002LWZ6SFloV3F3NkZyM2VBdkFvSXA1YmFmX1NoTllxTHc?oc=5) · CUInsight
- 2025-03-26 [Merrimack Valley Credit Union adopts new name, following string of mergers - The Business Journals](https://news.google.com/rss/articles/CBMiqgFBVV95cUxPeW94OWc4NGtzNzZoVlV3VzdHcHYySm5MNVk1bHR1R0lsOTJXVnhMZDBvbXhULTdVOXZiRjVHWVlONWtIeVpJY3FQZUxQU1FOdjBBc25RWXBCTEVONDR5RGlKS2hKZkc0c09JVHdEcnIwaEp5MDVneGJVeWVhTmV4TGp5VG5vMkcwT2hkdjVmMGlVcm1ER1NaazRUZjlySldUQ3I3NjJ5NkNJQQ?oc=5) · The Business Journals
- 2025-03-24 [It’s Official, Merrimack Valley Credit Union Now Known as BrightBridge Credit Union - WHAV](https://news.google.com/rss/articles/CBMirwFBVV95cUxOTWNuWTNZc0U4Tm5VTjNjX1JjLUVZeVJjZnNRU2JkRXJpLWFsMC1vNWdpZXR0MnYyZ3lINXpYMzJrZU0tMW9wZzNDbzdDTXphemhnMy1GeTdNYmxSbUpJSW1XQWFwUEgtUDVZb3Y5NG1hZjFjM0FaQVhEdk5zYVA4eDNQZzI2UTlqVTFjUjZzMUt5S053R1A4TV9TazgwbURzQ3pzSmRkTVVKeDlIajNz?oc=5) · WHAV
- 2025-03-25 [Merrimack Valley Credit Union Is Officially BrightBridge Credit Union - CUTimes](https://news.google.com/rss/articles/CBMiqAFBVV95cUxNdFo2WmptS1Y3ZXFsRU5SQ2ZlVGFncGlROHctT0E3UnJ2N3pNbjZ1ZWM5TnVGOE9HSlI2Y2dFRlZSaGdtMml5Q05DYmpsZGZLbm9QS3JUZW9VYzBrWHYxQm82SWJlNm5wZ0dYanJkUkNOTEpaQkx4RVg2M1U3eWc2eHV4VUtPZHRWcVJPZW9CN2VDWmZvXzhGOVRPNldYaEMxbThRcGdpcm4?oc=5) · CUTimes
- 2010-01-25 [“PJ Bandit” Serial Bank Robber Now Believed Responsible for 13 Bank Robberies - fbi.gov](https://news.google.com/rss/articles/CBMia0FVX3lxTE9TRU5jNDdtRGFpSGdaaWd3Wmc0WEZ3dXVyMTc5YjU5eUZiaEtjemFWbGkwS1VJUnBOSkVsRjNJeFRrSWtteEdyQVdrMmlnZnpXeTMtOHJYZkR3N0kwMTZBRDBIRW5pNGpUY3pF?oc=5) · fbi.gov
- 2022-09-15 [Obituary information for Michael J. Child - Chapman Funerals & Cremations](https://news.google.com/rss/articles/CBMie0FVX3lxTE1QRDYzQ0RzaUtCNzJHVWVVZnRVWXYtUjFMaG9yQXJGQ193a0tQd1BfRDJWenI0cGtGbDdPSWRONlc0LTVJRThlQmw4QjczcHJmSTBSSW1SWU1PM3ExUHVDUzU3NGxFYzZ3TVFFRzNqWjkyN1I3SUwwbWZmNA?oc=5) · Chapman Funerals & Cremations
- 2016-03-24 [Obituary for Manuel V. Silva Jr. - Waitt Funeral Home](https://news.google.com/rss/articles/CBMiZ0FVX3lxTFBmXzJzQ1ZoWnJjc0dudWhQQ283ZTFKdWl6eUIxOGc0bXJhQlA3WkZ4RVpHaW5ZTUc1ZG5uX0ZwVXJGRDd3SkpxWXpUdzh0WXZWaWFRN0NyTUdzcnphTnFpSGt3Y3cwdmM?oc=5) · Waitt Funeral Home
- 2024-09-08 [David R. Wolohojian Obituary - Enterprise News](https://news.google.com/rss/articles/CBMiY0FVX3lxTE5za2lQTjBCU01FWENsQkF1MDlMdk54Rm1uNTRHaXNPOUhydWxqOGRZVkU1aENmQlBtanZ3dmYtXzFmOW5ablhvM2lSYjFPbnhpOTUyVkFtRGlRdHQ2RzZyZGYwYw?oc=5) · Enterprise News

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=67984 (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/16.json (key "67984", 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=67984
- 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