# FIRST
Chandler, AZ · NCUA charter 68444 · asset band $500M-1B · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/first-68444

Who the members are: state charter, organized 1935, low-income designated. 44,401 members of 4,920,000 potential (0.9% of the field); checking penetration 51% (share draft accounts per 100 members); loans per 100 members 49.

**Verdict on the desk:** this could be *indirect buyer*. 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 | $785.8M |
| Members | 44,401 (0.4% YoY) |
| Full-time staff | 153 |
| Net worth | $74.0M |
| Net worth ratio | 9.4% (p31 of band) |
| ROA (annualized) | 0.15% (p13 of band) |
| Total delinquency | 0.44% (p35 of band) |
| Net charge-offs (annualized) | 1.46% (p95 of band) |
| Loans / shares | 71% (p25 of band) |
| Cash / assets | 10.5% |
| Borrowings / assets | 2.55% |
| Net interest margin | 3.70% (p71 of band) |
| Operating expense / assets | 3.65% (p54 of band) |
| Vehicles % of loans | 50% (p89 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 84% |
| Third-party paper % of net worth | 281% (p88 of band) |
| Vehicle delinquency | 0.75% (p64 of band) |
| Vehicle NCO | 2.15% (p86 of band) |
| Repossessed % of vehicle book | 0.50% (p96 of band) |
| Real estate % of loans | 23% |
| Credit cards % of loans | 4% |
| Unsecured % of loans | 6% |
| Commercial % of net worth | 113% |
| Core shares % of member funds | 54% |
| Certificates % of member funds | 24% |
| Average share balance | $7,868 |
| Participations bought / yr | $35.1M |
| Participations sold / yr | $0 |
| Participations outstanding | $83.6M |
| Loans outstanding per 100 members | 49% |
| Loans granted per 100 members, annualized | 19% |
| Average loan balance | $22,497 |
| Loans granted, annualized | $210.4M |

## Participation posture (from the same filings)

Bought $35.1M and sold $0 in the latest annualized quarter; $83.6M outstanding purchased (113.0% of net worth), $0 sold and retained. Sold in 0 and bought in 8 of the last 8 quarters. Shares 1.9% year over year.

## Flags firing in the latest filing

- **charge-offs p90** (`aq_nco_high`)
- **repo signal** (`aq_repo`)
- **3rd-party paper>100% NW** (`str_thirdparty`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 3 | thin capital, 3rd-party paper>100% NW, auto monoline |  |
| 2016-06 | 5 | losing money, expense trap |  |
| 2016-09 | 3 |  | losing money, expense trap |
| 2016-12 | 3 |  |  |
| 2017-03 | 3 |  |  |
| 2017-06 | 3 |  |  |
| 2017-09 | 3 |  |  |
| 2017-12 | 3 |  |  |
| 2018-03 | 3 |  |  |
| 2018-06 | 3 |  |  |
| 2018-09 | 3 |  |  |
| 2018-12 | 2 |  | thin capital |
| 2019-03 | 3 | thin capital |  |
| 2019-06 | 2 |  | thin capital |
| 2019-09 | 2 |  |  |
| 2019-12 | 2 |  |  |
| 2020-03 | 5 | losing money, margin squeeze, delinquency rising |  |
| 2020-06 | 6 | thin capital, net worth falling | delinquency rising |
| 2020-09 | 4 |  | auto monoline, losing money |
| 2020-12 | 4 |  |  |
| 2021-03 | 3 |  | margin squeeze |
| 2021-06 | 2 |  | net worth falling |
| 2021-09 | 2 |  |  |
| 2021-12 | 3 | net worth falling |  |
| 2022-03 | 3 |  |  |
| 2022-06 | 3 | delinquency rising | net worth falling |
| 2022-09 | 3 |  |  |
| 2022-12 | 3 |  |  |
| 2023-03 | 3 |  |  |
| 2023-06 | 3 | charge-offs p90 | thin capital |
| 2023-09 | 4 | repo signal |  |
| 2023-12 | 5 | leaning on borrowings |  |
| 2024-03 | 5 | members leaving | charge-offs p90 |
| 2024-06 | 3 |  | delinquency rising, repo signal |
| 2024-09 | 3 | charge-offs p90 | members leaving |
| 2024-12 | 3 | repo signal | leaning on borrowings |
| 2025-03 | 4 | losing money |  |
| 2025-06 | 2 | net worth falling | charge-offs p90, repo signal, losing money |
| 2025-09 | 3 | charge-offs p90 |  |
| 2025-12 | 3 |  |  |
| 2026-03 | 3 | repo signal | net worth falling |

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

- 2026-05-09 [Queen Creek Welcomes New First Credit Union Branch - signalsaz.com](https://news.google.com/rss/articles/CBMijwFBVV95cUxQYm0zVTZ2OUdvS25yS1BOd0RpZy1xMUlxRkNyX1hETGgzUzNGZlVDQ2JwNzR1MFJQal9iMF8xbTNVdjFmb1llRWUzVER0bWEtQ3lzTjlJak9fMElTYWE3bjh3aFJUaXpjSUQzQ0lZQ1hMQWpqRW0zNkxxUWl6dW51cmtEUFpKU2ljNXlpdXJmUQ?oc=5) · signalsaz.com
- 2026-03-27 [America First Credit Union review (2026): Market-leading CD rates for those who qualify for membership - Yahoo Finance](https://news.google.com/rss/articles/CBMiqgFBVV95cUxObDhZR0ZLVmZ4aFNtdEpLVGEwZWsyRUxFZ3ZlWGlvNWFSUl9MY2o5WlMyRHRGZUV6OHRYN0o5cHBYR1RKcHdvNDNDTVJLN254WmxUcktaNFU1RGN3YzczSG1ONGlZVmEzNEkyNzR6U1JlbmZKVHZOcHFnRGVKYWdfUk9ISW1FajF6Q3ByTlRlSUU4cllscHZ0SFZqTXB0dUpDZmhRNVlsdlVZdw?oc=5) · Yahoo Finance
- 2026-06-29 [20 Largest Credit Unions in America | Banking Advice | U.S. News - U.S. News & World Report](https://news.google.com/rss/articles/CBMigAFBVV95cUxPTGo3NzJqcExQdW1NT240R08xaGVXT1pFZHBGS29RSG9UaUJQaWkxV3RrbEZheE5jWjRlUmp0am5oQ3V6SFh6U2lIQ2NvaWtKTnhsNko2TU0zYXRhWUFEb0ZBUWFJUkxYWlQ4eVBTWHFmNjZkbW1QOXg1VnBDbExpWA?oc=5) · U.S. News & World Report
- 2026-08-03 [Utah credit union adds West Valley branch, more in the works - The Business Journals](https://news.google.com/rss/articles/CBMioAFBVV95cUxPRF85aWgydWlQS3FEMWdXY0ZsSFAzZm1lNk9yZlNlT0dEcjVFR2NfNXRzNGFUYURRVXFJSTNmQ04zNE5DWVZ4bFlRY3RQZE9scGpVYmVOM3Jld0V5NVNJak5sQnMyeXhwV3Y0WGVGbG1wbFBYUF9hU3RCYWdpRll1bDNTQjF4NjROV0RBdkN3VkF2LWIzc1VFeTZNazdhOV9W?oc=5) · The Business Journals
- 2026-08-02 [America First Credit Union accepts backpack donations - yourvalley.net](https://news.google.com/rss/articles/CBMiswFBVV95cUxQRjFFMlFJR2VfVWJxTFc0Q0VFdmVDUDNDc04xR21xRGdhM0lKd3FHMDRQalctcFVtQTV2RldBLUZBdzZhM1FXYTdtbUdKMXFLbW1VeUswT1VZTGlRY1k2MVB0c3pFU2dwMUhrVC1leGE5UHpoVjhKREhzY1lSanJOazNYdjBpQ093YURob3k4RWdMRmp0aUVNbklQMEhqd1dEUWlQNlBhc1EwTWp1aDU0Wnp3Zw?oc=5) · yourvalley.net
- 2026-08-21 [Sponsored: America First Credit Union Opens New Branch in the West Valley - 12News](https://news.google.com/rss/articles/CBMimgJBVV95cUxQYThiRkdGTUpSNlV3WGFXLXBYUmJjdWJkb1BqMGVYNG51VlpRbGtxaktvaUNXT0VTSnQ2LUJWd1dPNlk2WkdXdHBlNWFJSm84TFAxVkdTbV9VdFhyX3FKMkVWUFpCVmk5dDN0WHJpN042Y1c3eG9FSGROc1h4OGFwT2xqRGJsM1YxTkdMcjVGSlBTWjA0bENkMTllZEFFLVhKamZRT1poUnIwNWd2SUp6V19LZnBzWlBlZTgxd1k2Yi11dTlzVHRjSDluYmtZcEpUZlYzOHhyamdHN3REdl8tbl9aYTRXbFJoaTJibE5UU0k0TjJweDc4cDVGWi0tSldSM2VvTFE4Tmhic01hVUF6TmxuTnQxTVROUkE?oc=5) · 12News
- 2025-09-30 [America First Credit Union Expanding Arizona Presence with Eight New Branches - PR Newswire](https://news.google.com/rss/articles/CBMizgFBVV95cUxNSHJ6MEpjV284Qk8xS0hjaDNDZ0pVa3FoR2xTbHI1bFZFelhNdjNiVHZqaE9LT05OWjM3Z0V1TTJzY1ZUaFBRaVZKUV8tWHF2V244cEFNeWtzOUlnT29FcXM0UnJDTVdmX1RLVmp2aXRJMmFJenNLX0w2Zmpad0ZCQVNfZjZ3NHl3cXFiWXZPSFA2TzloQ2s0eE1MQ3ZhYzlkdzllb0NIWklGYjUyYkNMalBzU1JDNHZZdG9tRE5qZnlOdnAtVlE4MGtEMVNrUQ?oc=5) · PR Newswire
- 2025-09-22 [America First Credit Union to open 8 new Arizona branches - KTAR News 92.3 FM](https://news.google.com/rss/articles/CBMibEFVX3lxTE9GQl82MnN6UjlFWkRta3lmSnB5bWZpY2dzVnpsa0JmbUN4TWJZVDVjLW9oXzhIbGpMNnY1UlRLUFZ0d2tVLUlCaFg3OUx6WVFCZ0ptdWZlMjFPeW9IZC1KTXZObnBtLUVYTlIwOA?oc=5) · KTAR News 92.3 FM

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=68444 (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/28.json (key "68444", 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=68444
- 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