# PUGET SOUND COOPERATIVE
Bellevue, WA · NCUA charter 68204 · asset band $200-500M · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/puget-sound-cooperative-68204

Who the members are: state charter, organized 1936. 16,835 members of 6,897,012 potential (0.2% of the field); checking penetration 24% (share draft accounts per 100 members); loans per 100 members 68.

**Verdict on the desk:** this could be *ordinary*. 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 | $280.0M |
| Members | 16,835 (-4.4% YoY) |
| Full-time staff | 29 |
| Net worth | $30.6M |
| Net worth ratio | 10.9% (p46 of band) |
| ROA (annualized) | 0.25% (p19 of band) |
| Total delinquency | 0.61% (p52 of band) |
| Net charge-offs (annualized) | -0.09% (p0 of band) |
| Loans / shares | 85% (p78 of band) |
| Cash / assets | 22.3% |
| Borrowings / assets | 0.00% |
| Net interest margin | 2.60% (p6 of band) |
| Operating expense / assets | 2.66% (p16 of band) |
| Vehicles % of loans | 1% (p0 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 0% |
| Third-party paper % of net worth | 0% (p9 of band) |
| Vehicle delinquency | 0.83% (p67 of band) |
| Vehicle NCO | 0.00% (p4 of band) |
| Repossessed % of vehicle book | 0.00% (p25 of band) |
| Real estate % of loans | 12% |
| Credit cards % of loans | 1% |
| Unsecured % of loans | 1% |
| Commercial % of net worth | 0% |
| Core shares % of member funds | 39% |
| Certificates % of member funds | 49% |
| Average share balance | $10,182 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | $0 |
| Loans outstanding per 100 members | 68% |
| Loans granted per 100 members, annualized | 5% |
| Average loan balance | $18,448 |
| Loans granted, annualized | $16.8M |

## Participation posture (from the same filings)

Bought $0 and sold $0 in the latest annualized quarter; $0 outstanding purchased (0.0% of net worth), $395,349 sold and retained. Sold in 0 and bought in 0 of the last 8 quarters. Shares 5.4% year over year.

## Flags firing in the latest filing

- **delinquency rising** (`aq_dq_rising`)
- **members leaving** (`shrink_members`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 2 | thin capital, loans>95% of shares |  |
| 2016-06 | 2 |  |  |
| 2016-09 | 2 |  |  |
| 2016-12 | 3 | net worth falling |  |
| 2017-03 | 2 |  | loans>95% of shares |
| 2017-06 | 1 |  | net worth falling |
| 2017-09 | 2 | loans>95% of shares |  |
| 2017-12 | 3 | delinquency rising |  |
| 2018-03 | 2 |  | delinquency rising |
| 2018-06 | 2 |  |  |
| 2018-09 | 2 |  |  |
| 2018-12 | 3 | net worth falling |  |
| 2019-03 | 3 |  |  |
| 2019-06 | 3 | delinquency rising | net worth falling |
| 2019-09 | 3 |  |  |
| 2019-12 | 3 |  |  |
| 2020-03 | 3 | net worth falling | delinquency rising |
| 2020-06 | 2 |  | loans>95% of shares |
| 2020-09 | 1 |  | net worth falling |
| 2020-12 | 0 |  | thin capital |
| 2021-03 | 1 | thin capital |  |
| 2021-06 | 0 |  | thin capital |
| 2021-09 | 0 |  |  |
| 2021-12 | 0 |  |  |
| 2022-03 | 0 |  |  |
| 2022-06 | 1 | loans>95% of shares |  |
| 2022-09 | 1 |  |  |
| 2022-12 | 3 | thin capital, net worth falling |  |
| 2023-03 | 3 |  |  |
| 2023-06 | 4 | margin squeeze |  |
| 2023-09 | 4 |  |  |
| 2023-12 | 3 |  | margin squeeze |
| 2024-03 | 3 |  |  |
| 2024-06 | 2 |  | net worth falling |
| 2024-09 | 2 |  |  |
| 2024-12 | 2 |  |  |
| 2025-03 | 3 | net worth falling |  |
| 2025-06 | 2 |  | net worth falling |
| 2025-09 | 3 | delinquency rising |  |
| 2025-12 | 1 |  | loans>95% of shares, thin capital |
| 2026-03 | 2 | members leaving |  |

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

- 2018-09-12 [Commerce grants $3 million from Clean Energy Fund to Nonprofit Lenders - Washington State Department of Commerce (.gov)](https://news.google.com/rss/articles/CBMinwFBVV95cUxOdklvMGdManFyVzJIenBqZVN6Ukw3Q21EcVVIWm5QYi1tYlg5bXlhbWdzZVpQd1hGR2hpdUpCc0ZPaGpqbUgzQXlUTXBUSHlLTkZOMFlGenFoSmtUZlItVUJ4RUNKbVJzSnR2cDJvOU1VNEJiWXRjSDRCLWFnNUd2dWJIUUNhTTc0TU9zN3NJMWJLTkJseDJzNW5YYjhTbGc?oc=5) · Washington State Department of Commerce (.gov)
- 2025-03-13 [Eastside Climate Partnership launches Solarize Eastside | City of Bellevue - bellevuewa.gov](https://news.google.com/rss/articles/CBMiX0FVX3lxTFBxdzFMdFpLakQ5dHBvVXhLT25kWS1ia0EwUmFhcGM0OXN0ZF9PdmlKbHVhdm9VNmFZU2lxVHA5Yk1NRmFLcnVHWWJLSVNvT3FLbXN2dEpTZkRILWMxX3dN?oc=5) · bellevuewa.gov
- 2025-03-07 [Eastside Climate Partnership Launches Solarize Eastside for Homes, Businesses - 425business.com](https://news.google.com/rss/articles/CBMiyAFBVV95cUxNZlRyRkdISGVBT1RFRXFxZGNoVTZPY3NhcEpyanhBWERTVy1YenFZMHhMcS1abENPVmRDdUFXWVVxRHE3dmoxUlVUS3dHTm93elBrMWdfZkVPRE4xYXdZWnRQSEdxVUw3bU5YU2xHZndTaENQdUlja01KNmRfUHhleHQ3eDR6UnBreEZXaGdGOUJJMWVTcmk1YzNfUUNORmR0Z0RPT3ZfVmFSaVlOeFlOY2FHYW1MY1lKSy1IN0VlbWE4S000cXM3Sg?oc=5) · 425business.com
- 2026-04-29 [Head out to First Friday and Spring Studio Tour - Vashon-Maury Island Beachcomber](https://news.google.com/rss/articles/CBMimAFBVV95cUxQMGM0ZERsc0dOQzA2aVVpUFVscnZXT2dnaFJJZ3psNDhWbVNkSWVuQWFIMzEtRVBoaUhTYTdzODdzYlNUVVhseVJPYXdvM3o5eW1rRDdiQ2RVVTdlYml6RDEtcW1Nc1RMdlFPVjdYUUNFc3p6LXNBTUNUSEpvVVpnMGs3VkR0ckJSVVZPaC1ITVdhTmlEMmVPZA?oc=5) · Vashon-Maury Island Beachcomber
- 2025-04-29 [Replace Those Electric Bills with Solar Power: Solarize Thurston is Open for Enrollment - ThurstonTalk](https://news.google.com/rss/articles/CBMixgFBVV95cUxNRWo3ei1fMVBhRmx1UWN6bFF2LU9QQ1MzcGY0b283a2VYam9INlhtLVBNTFk3NnJNa3BBQ2xDSzZ5bHlsQ3RpWEhuRWIxZG5zZW5LWlgzc1dtbGxTbmVwakJPeDNRbkhyZUkxT0s3bUxlbEh4endVYnQwQVNUM2NZVGctMTRkQ3hkM2lsMWlDdUx3VTMwdzFtbHNKUnNUdGtsUG5VcGVHaGN5Yno4U2pWckpiNUc2YUdPY3dyaXVrVF9NOUlDNkE?oc=5) · ThurstonTalk
- 2024-09-12 [Washington Solar Panel Incentives: Net Metering, Tax Breaks and More - CNET](https://news.google.com/rss/articles/CBMitAFBVV95cUxQb0J4NnNCVl91V2c0Y2Z3dDMwdEtlWHFkbm1kMzFWT1J0ZUIwclBhdVA4aC0yQnFrbmR1V0xCMEphWjhWMXdBWnFQem55VVVuOTRQOGRyR3c4eDNNMmZQQ2txSDZfZFAwend2Y1NJMjJvSnd4TEhNUFBwaWFBc2thQ19kS285SFZjMlNEZV9LZFRIdDdUNGUzdWpGeHJodHVFR1JLSkFKcllCWHk4Z0FIR3Z1OWk?oc=5) · CNET
- 2026-03-03 [March into Vashon’s First Friday gallery cruise - Vashon-Maury Island Beachcomber](https://news.google.com/rss/articles/CBMilwFBVV95cUxORDI4QThYeVJYNDg2SHJzcEpGYnpQZF9yQU1pdnBUaFhnc1Z0T1hHMXRvb3NYcUNPUDY0YnlxbmR2cmd2MDBEdEN5V2pLSnlNOTRFOUhnSXhFOW5Od19yYTRNT0pTQVBCeWc1Wkx6Y1drcVZNTGxQMEZYVk9DeXpUOFIzdWR0QllkcVN0ZVJZRVdsSGw4dzZn?oc=5) · Vashon-Maury Island Beachcomber
- 2012-03-25 [West Seattle Solar Project aims to help area businesses and homes seek a sun powered future - Westside Seattle](https://news.google.com/rss/articles/CBMiygFBVV95cUxQbUpGaGpOdGV6a1NQcmJpN2dnZVpBYXhXYWJWZnJpUWdQbDBqYU9FeVBHYndtbGlncjhBYl9JNURMNFdkSTdFdWhBZF8zYjNlNUttR1I4WGJLOGphX2FfSm9VSHZsbmUyaTI2eklEekxTR29wUDZqS1M0RWwxWkw2a0dwUFBVLTZ4cHZidU1GTnhKUk5LdV9JdU9mN0JVdWhYelJDanJYRjBScVJNSHF0Tnl3QTMxalhjWkp2OVNDaWlGVVlfbVRCY3VR?oc=5) · Westside Seattle

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=68204 (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/44.json (key "68204", 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=68204
- 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