# TAPCO
Fircrest, WA · NCUA charter 68298 · asset band $500M-1B · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/tapco-68298

Who the members are: state charter, organized 1934, low-income designated. 31,873 members of 400,000 potential (8.0% of the field); checking penetration 51% (share draft accounts per 100 members); loans per 100 members 59.

**Verdict on the desk:** this could be *indirect buyer*. Composite score 1 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $719.3M |
| Members | 31,873 (3.8% YoY) |
| Full-time staff | 96 |
| Net worth | $67.1M |
| Net worth ratio | 9.3% (p27 of band) |
| ROA (annualized) | 0.94% (p70 of band) |
| Total delinquency | 0.23% (p14 of band) |
| Net charge-offs (annualized) | 0.27% (p31 of band) |
| Loans / shares | 85% (p62 of band) |
| Cash / assets | 17.3% |
| Borrowings / assets | 0.00% |
| Net interest margin | 3.54% (p56 of band) |
| Operating expense / assets | 3.06% (p24 of band) |
| Vehicles % of loans | 43% (p76 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 90% |
| Third-party paper % of net worth | 328% (p93 of band) |
| Vehicle delinquency | 0.41% (p34 of band) |
| Vehicle NCO | 0.47% (p27 of band) |
| Repossessed % of vehicle book | 0.09% (p63 of band) |
| Real estate % of loans | 32% |
| Credit cards % of loans | 3% |
| Unsecured % of loans | 4% |
| Commercial % of net worth | 158% |
| Core shares % of member funds | 52% |
| Certificates % of member funds | 35% |
| Average share balance | $10,877 |
| Participations bought / yr | $13.8M |
| Participations sold / yr | $0 |
| Participations outstanding | $18.4M |
| Loans outstanding per 100 members | 59% |
| Loans granted per 100 members, annualized | 17% |
| Average loan balance | $29,601 |
| Loans granted, annualized | $206.2M |

## Participation posture (from the same filings)

Bought $13.8M and sold $0 in the latest annualized quarter; $18.4M outstanding purchased (27.5% of net worth), $0 sold and retained. Sold in 1 and bought in 2 of the last 8 quarters. Shares 6.2% year over year.

## Flags firing in the latest filing

- **3rd-party paper>100% NW** (`str_thirdparty`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 2 | thin capital, 3rd-party paper>100% NW |  |
| 2016-06 | 2 |  |  |
| 2016-09 | 2 |  |  |
| 2016-12 | 3 | repo signal |  |
| 2017-03 | 4 | delinquency rising |  |
| 2017-06 | 3 |  | repo signal |
| 2017-09 | 2 |  | delinquency rising |
| 2017-12 | 2 |  |  |
| 2018-03 | 2 |  |  |
| 2018-06 | 2 |  |  |
| 2018-09 | 2 |  |  |
| 2018-12 | 1 |  | thin capital |
| 2019-03 | 1 |  |  |
| 2019-06 | 1 |  |  |
| 2019-09 | 1 |  |  |
| 2019-12 | 1 |  |  |
| 2020-03 | 1 |  |  |
| 2020-06 | 4 | thin capital, net worth falling, margin squeeze |  |
| 2020-09 | 4 |  |  |
| 2020-12 | 4 |  |  |
| 2021-03 | 4 |  |  |
| 2021-06 | 4 |  |  |
| 2021-09 | 3 |  | margin squeeze |
| 2021-12 | 2 |  | net worth falling |
| 2022-03 | 2 |  |  |
| 2022-06 | 4 | delinquency rising, members leaving |  |
| 2022-09 | 4 | leaning on borrowings | members leaving |
| 2022-12 | 6 | net worth falling, loans>95% of shares |  |
| 2023-03 | 5 | members leaving | net worth falling, loans>95% of shares |
| 2023-06 | 4 |  | members leaving |
| 2023-09 | 5 | members leaving |  |
| 2023-12 | 6 | loans>95% of shares |  |
| 2024-03 | 3 |  | leaning on borrowings, members leaving, loans>95% of shares |
| 2024-06 | 3 |  |  |
| 2024-09 | 3 |  |  |
| 2024-12 | 3 |  |  |
| 2025-03 | 2 |  | delinquency rising |
| 2025-06 | 2 |  |  |
| 2025-09 | 1 |  | thin capital |
| 2025-12 | 1 |  |  |
| 2026-03 | 1 |  |  |

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

- 2026-02-20 [Kyle Burke joins TAPCO Credit Union as Director of Remote Service Delivery - CUInsight](https://news.google.com/rss/articles/CBMitgFBVV95cUxNcDRBTDh3VnBDc3hrZWRXeXZIaTJyT3l4VVVRR1ZLM0M0Nl9tQVA3SXl3bEZWQy1QMUxWVWRQeGgwNDRJTzdibldPX0RVcFpkZ1ZDSEFMdkk2eUJrRmw0ampnQ0JPUXBmOVc2eVFfLXM0bTBrak8ySDduaHFWYmFrQVppN2t3Ylk5Q3owWFMxMUpVd3ptN1lCQVdtLVdRLVN0N1NiTjlzUUVrNnBMeG01Q0VzNHdVdw?oc=5) · CUInsight
- 2024-06-07 [Local credit union announces new full-service branch coming to Pierce County location - Tacoma News Tribune](https://news.google.com/rss/articles/CBMicEFVX3lxTE5BSnJGQlg3Yy1PSk15OHFQS2lPZldKcHZsc3dGck1RWXBZRTlpVDg5SDFJUVBzNXoxekZJRDBQdmZoYmRhRVE5c2pKc2o5TXEzVE1GNXJ1ZENtQmlBWThEMDRaTTFPaUlhby05SVRlMEvSAXBBVV95cUxQZTlZVVVodjlZc19GdmJTMUllVkphdUVwWklKSXU0VC1ISmQ4MThvLTBQblpiMFk4OGFJcXVlMTZ1V3lGTlNsbEhicUloQjhoa2pqZ3drVmM2dmxSTUtGZUN2U0ZYNXpjV09wZm8wVWsw?oc=5) · Tacoma News Tribune
- 2024-06-18 [TAPCO Credit Union plans to enhance presence in Frederickson - The Business Journals](https://news.google.com/rss/articles/CBMioAFBVV95cUxQQTIyNlM0Mmk1d29oT1d6UExlRng0eTZHS0FZbzEydFBDY096X1dycmhzV3F3RS1mNFdRcktqeHZ2U3ZyY2dZSTc0bTNOd1U5NTQzZUY5MXRFUkh4a2tTSHZzT0poN3NfZHVhVHBFRTlKbnlWRGZDNl9rbmJ5X0tWSFFXX3plOG5BOE9JeXhYcVdCN2lUV3kyR3pxZ0k3bnV0?oc=5) · The Business Journals
- 2025-06-06 [TAPCO Credit Union celebrates the grand opening of new Frederickson branch - CUInsight](https://news.google.com/rss/articles/CBMitgFBVV95cUxQc2VVRWtHVXpPa1hVUlJVLUMtajlFMlBaTWZQeWJWMC1hQV9ZUFhCUWtKNU05NEl6eWhqX0hNV2lXRThmMDBwb2pPd0ZTalhLTUpDM25wOUZmbjJHWkVGNDE2M2ZtZTNnWi1VZkpLMnFZRUdwQVU0UDBLS3hvd3VPU21LNURGdzhqRWw1a2pVUng4YmZrTUpfZDNSX2N1dVVybnFMYm41TFZTUmxfb0o4eTdJbUlHQQ?oc=5) · CUInsight
- 2024-12-23 [From homelessness to hope: How CJK Community Homes is transforming lives through financial literacy - Washington State Department of Commerce (.gov)](https://news.google.com/rss/articles/CBMixgFBVV95cUxNamZraUZZWXhnNkVJY0cwRjhualRGazdKbmd4QmJmdFMyQjN0MVQtN2hDMDlySWtvY2VxT05FRnZOaFg0V1Q0eHhqOFU5U1NvUG1xNWJ1SjZGVnI3ZlU4clVGaFMtMzZtS1dnRkctUEw0QnotNk8yVXB5UnZtNm1TMXNWNENhSnp0SE5yZFV1aTByNTd3MkI2ZW1UUngxWmxLV0ViQUd6Qm1fdXk4T3oxX3BnTVJqT3ZnSERTSDM2bFNCR3YzM0E?oc=5) · Washington State Department of Commerce (.gov)
- 2026-01-14 [This February Event is Showing Off Local Robotic Innovations - southsoundmag.com](https://news.google.com/rss/articles/CBMiugFBVV95cUxPb3h2MFZfd3VVTWMxNWtlWUtZRXpZbXNwTVV4V00wQVJ6Si1LTG5xM0RQdjhEZzlSSmtoM0cxUGFHM2ZEM1dQN3RjekRxdTZBd1VUX1NUVmlVdG1DbHN3VzRPLVF5LTVxMGpJeDdqVnFjRFNBempRS0cwclY3R2VnUVIyc2YzdlNQTEdaSXlFcmJJWVJFV1B5ZVVGd2JydHVaaE53UEFYQUdqbUNEdnhMTFFzdExZUDVXQWc?oc=5) · southsoundmag.com
- 2025-06-05 [Tacoma-based credit union to celebrate opening of new Pierce County branch - Tacoma News Tribune](https://news.google.com/rss/articles/CBMidEFVX3lxTE9SdktDZTZ5d3ZhenRSS09HdmFwSy16NEF6MWhXNDZFbk1reERGRVRmR2VZQktKc2pKNUQySmhrdGN3eFVlS0lwR3BvMVpnWmc1YWFneGdaZnlpbmM1bExkMUp4ckVNczktX0g2NXZ4U1JBQXps0gF0QVVfeXFMTkJWbFVzbDJieWwwbWlvTy1jZkVudDZGWDUtRWlROUdsdFB2c3o2VE5NSUM1OXp0WE1ZVkluWTJkTm54bXQtbWh2YkljSm8weVJsbWN2WUlHVF9ZMTVUaC1mazAwNXp0TjZwb2Fqcm9tdW1WZ0Q?oc=5) · Tacoma News Tribune
- 2024-12-04 [Jacob Rose promoted to Director of Marketing at TAPCO Credit Union - CUInsight](https://news.google.com/rss/articles/CBMiqwFBVV95cUxQQnhlejRNLXhBOHA3aEFiUnN0clhtaGZQRngwNU9Bb01pYzBJb1QtUUhoZ3BNYUhoZlpOQUFBTk1UTXBIdWF2VVlfdl9ha245NUgyT01xZnVJWmNGQjYyR2tGbG95RUljcWc3T2FtRHlTc0l0MWxBVTBZSDVDUFlBX05NMHpDVV96Z0xtQ2ZhdWlBNDVxdTA0MC1vQWo0TWZwVFJ3bktKMnRvZVE?oc=5) · CUInsight

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=68298 (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/10.json (key "68298", 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=68298
- 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