# CONNECTION
Silverdale, WA · NCUA charter 68254 · asset band <$50M · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/connection-68254

Who the members are: state charter, organized 1958. 3,305 members of 281,420 potential (1.2% of the field); checking penetration 46% (share draft accounts per 100 members); loans per 100 members 65.

**Verdict on the desk:** this could be *ordinary*. Composite score 3 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $39.6M |
| Members | 3,305 (-2.5% YoY) |
| Full-time staff | 12 |
| Net worth | $5.2M |
| Net worth ratio | 13.2% (p39 of band) |
| ROA (annualized) | 0.59% (p51 of band) |
| Total delinquency | 1.87% (p76 of band) |
| Net charge-offs (annualized) | -0.14% (p9 of band) |
| Loans / shares | 67% (p64 of band) |
| Cash / assets | 34.5% |
| Borrowings / assets | 0.00% |
| Net interest margin | 4.44% (p71 of band) |
| Operating expense / assets | 5.14% (p81 of band) |
| Vehicles % of loans | 27% (p16 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 42% |
| Third-party paper % of net worth | 66% (p95 of band) |
| Vehicle delinquency | 0.03% (p33 of band) |
| Vehicle NCO | 0.72% (p84 of band) |
| Repossessed % of vehicle book | 0.65% (p98 of band) |
| Real estate % of loans | 54% |
| Credit cards % of loans | 4% |
| Unsecured % of loans | 7% |
| Commercial % of net worth | 0% |
| Core shares % of member funds | 77% |
| Certificates % of member funds | 14% |
| Average share balance | $6,322 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | $1.7M |
| Loans outstanding per 100 members | 65% |
| Loans granted per 100 members, annualized | 6% |
| Average loan balance | $10,665 |
| Loans granted, annualized | $2.9M |

## Participation posture (from the same filings)

Bought $0 and sold $0 in the latest annualized quarter; $1.7M outstanding purchased (32.9% of net worth), $0 sold and retained. Sold in 0 and bought in 0 of the last 8 quarters. Shares -2.1% year over year.

## Flags firing in the latest filing

- **delinquency 2x band** (`aq_dq_high`)
- **repo signal** (`aq_repo`)
- **loan book shrinking** (`shrink_loans`)

## Warning timeline

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

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

- 2025-11-06 [Small credit unions double down on accessibility, empathy - Spokane Journal of Business](https://news.google.com/rss/articles/CBMipgFBVV95cUxQNS1Td1FHazZfUmprNzJzZDlnQWpibWtzZEFuUmlnOS02NU9CVlJEQjB4bUg0aEZrQmxUT0dIa0tHWkdycnBTVDVwOVI4VzUzMU9YR3dYUDRZd3k1eVBQOHBJZTVpV1RPODFqaXZIc3QxVFpRRFNfdlVBUnRjREIyX1ktTDVpd0FzLTVxU1BmcmJDTm9pRGl2US16V19NbVpEeWtabWt3?oc=5) · Spokane Journal of Business
- 2026-05-27 [Kent, Washington, man convicted of 17 felonies related to string of armed dispensary and bank robberies following three-week trial - Department of Justice (.gov)](https://news.google.com/rss/articles/CBMiuwFBVV95cUxOd29qWGl1aHFlOXVNWXY2Uk40RUtxVXFTQ1FwYkRsMDNqMS1UTE0zRHpqd25yejl2SUM1U2VacmlNM2o0QVhLSHZNY0ZiaElfOVVXVkNHYkUzaTBGd0tzQ2l1VVBjZm85WVdMSWJCNXdMRkZGQlNsaXhQZnlYaDVOQ2EzQWhfWk13WlJPdFlROHp1T3JHSWJmTFpWYnBaNzB4SDB5NzItd0ZZY3ZSRWNQNWFveVpZTm5VVmFJ?oc=5) · Department of Justice (.gov)
- 2026-05-15 [Cohoes man charged in connection to collision with bank, building fire in Washington County - Times Union](https://news.google.com/rss/articles/CBMingFBVV95cUxQT18xcjJHRWxXcjctRVQzblVmNkRuRkNxd29FV1djemp6NHk2NlpHQkFia3Y3b1p2VVp1ZWFOWWFHUlFMU0RiOEQ2SDI3ZGJHUWdDejZPVEZ2V1Z2dXpzTmlTcTNaem9nQ3JMNzRnM254UmotNkJjdW0tZ1BOY2tlLVdOckNGRFRBOFFXZ2JkLWliQ040dnR0VEMtQWYzZw?oc=5) · Times Union
- 2026-02-17 [Mid Oregon Credit Union Invests in Post-Recovery Resilience - The Source - Bend, Oregon](https://news.google.com/rss/articles/CBMirgFBVV95cUxPdTFBeW9mYWltR1N6eFpRdGxITVNQNGNFLTVPYlU3UHB4VXBlNnI4eU5vTjFPQ2VaS1cxTXFOTlYzYlgzZU9PVnotdDVMcTZGaUxHZlJ0NjdTYm5iY0VrY0VUY3Y5aGNYa2YwbzQxVV9pTmtsNTFWQzZwN3A1ZG8tUjhzWTg3S3dvN21xWXlOTVVSSEg1S1BJN18xM3RBVXl2dlRJSTZHSC14ZEVzekE?oc=5) · The Source - Bend, Oregon
- 2025-12-09 [Giving efforts help Northeastern Oregon food banks - La Grande Observer](https://news.google.com/rss/articles/CBMilgFBVV95cUxOZkRzNklMbFpwSl9rQUZTa1NIVGxaUmwwU01LWEJYVzZFa2JZR2FUY3ljWUtpTjB6VXhwMFp0WnZQT3ZuMDBPS1cwRTZLX2NXVWFKZHhNQ3JUdXl5RTMwVnVFTTJkNE9qZUQ1SnUxbFJ6dkJxUlBJYUQ1UllFSjR5T2Y1MXBHUEtHU0NvM2RNeTZVeUswVEE?oc=5) · La Grande Observer
- 2025-11-19 [BECU to merge with SAFE Credit Union, creating nation’s fourth-largest credit union - MyNorthwest.com](https://news.google.com/rss/articles/CBMidkFVX3lxTE14cTZpenhoUTJIQ0xFUTk4elJYT2xUd3F0d2ltS1ZMenc3LThJaGdJSzNBMTVXRi1pekNIQ2xtLVB4YW9vVEY1S21LX0dSV2I1UGxTQ0RLQWlRZHJqU3dTOVFURURTSXlXVXVDVnVieS0wZmpEenc?oc=5) · MyNorthwest.com
- 2025-12-23 [Gang members, ex-employee charged in thefts from Member One credit union - Roanoke Times](https://news.google.com/rss/articles/CBMimAFBVV95cUxNVXhEODhPUmgtS2dDZ2hpS196UEsxa3NYeGtZX3A3VDVBMGY0ZTYzMk1YelVGNDdNNXRpYlZGdnQzZFdLQzdVZkY0dTgtVWprSDh1ZHdXMzBTTEdhX3RPSkYtVXZ4RHd0RExhbnNHdXZfd2RJV21mOEJ3TWsta2FVQVA0d1FRMzdJeTlSbmtTc05KRjFoQ0t1Sg?oc=5) · Roanoke Times
- 2025-11-26 [Westfield Renames Park To Honor Connection To American Independence - Patch](https://news.google.com/rss/articles/CBMiogFBVV95cUxOUHpEZkcxdERfZnBnRHlObTg3UFBBLW5JaVpqTXhPNFIzV0t0Y09oR1NfV1pScVZZZEdMY1dPUXdHSk1GTGQycjAzUHR3NFVDYUd2UTBlYU9WOWx4UXczclNqMnl2TlpKZ041d3Y5VHIzVEVCRjh2S3FFVVZDZ2lFNHFNb3AwTWNMYkNrY1liZDNoSnliZTZFVkU4aXBnTU5neUE?oc=5) · Patch

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=68254 (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/30.json (key "68254", 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=68254
- 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.

---
Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide