# MUTUAL SECURITY
SHELTON, CT · NCUA charter 68479 · asset band $200-500M · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/mutual-security-68479

Who the members are: state charter, organized 1982. 26,354 members of 1,800,000 potential (1.5% of the field); checking penetration 34% (share draft accounts per 100 members); loans per 100 members 50.

**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 | $379.1M |
| Members | 26,354 (-0.5% YoY) |
| Full-time staff | 72 |
| Net worth | $33.1M |
| Net worth ratio | 8.7% (p11 of band) |
| ROA (annualized) | 0.27% (p19 of band) |
| Total delinquency | 0.44% (p35 of band) |
| Net charge-offs (annualized) | 0.32% (p44 of band) |
| Loans / shares | 92% (p92 of band) |
| Cash / assets | 10.5% |
| Borrowings / assets | 1.32% |
| Net interest margin | 3.51% (p47 of band) |
| Operating expense / assets | 3.89% (p58 of band) |
| Vehicles % of loans | 26% (p37 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 53% |
| Third-party paper % of net worth | 208% (p82 of band) |
| Vehicle delinquency | 0.98% (p77 of band) |
| Vehicle NCO | 0.18% (p19 of band) |
| Repossessed % of vehicle book | 0.00% (p25 of band) |
| Real estate % of loans | 60% |
| Credit cards % of loans | 4% |
| Unsecured % of loans | 13% |
| Commercial % of net worth | 0% |
| Core shares % of member funds | 47% |
| Certificates % of member funds | 28% |
| Average share balance | $6,916 |
| Participations bought / yr | $16.1M |
| Participations sold / yr | $0 |
| Participations outstanding | $20.7M |
| Loans outstanding per 100 members | 50% |
| Loans granted per 100 members, annualized | 8% |
| Average loan balance | $23,294 |
| Loans granted, annualized | $63.2M |

## Participation posture (from the same filings)

Bought $16.1M and sold $0 in the latest annualized quarter; $20.7M outstanding purchased (62.5% of net worth), $1.4M sold and retained. Sold in 0 and bought in 2 of the last 8 quarters. Shares 6.8% year over year.

## Flags firing in the latest filing

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

## Warning timeline

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

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

- 2024-10-04 [Mutual Security Credit Union plans branch in Bridgeport - Westfair Communications](https://news.google.com/rss/articles/CBMioAFBVV95cUxPdVVCSllISDR6cW9vMm1fX3hqbGk2clVKcHpzem4waFRHMWc5WjEzVnVqQjRUNnBNcjVxZ0RMMjdCaXB5Vk5rdXFNZF9VeThVNEEzMDBEcWMzZXhfUHdmSkNUdGk3NTFUTzU0M1lHcV8wYVNCcFZ6ODBfZXdJOGdnLTVPaWs3TFdHenU5cGtheDU3bzhrV1ZCaXVzUk0xaEl3?oc=5) · Westfair Communications
- 2018-12-13 [Long-vacant bank building put to new use in Norwalk - Norwalk Hour](https://news.google.com/rss/articles/CBMingFBVV95cUxQbmk3dGozN0xDSDRoSUd0aFNFbXhOMmRMdkNwZFpSa2R2VG9YWEo3amFPQXNUNVJ1RXVtLUREWlV4VkkyNWhDRnFwT2I2THQ3cWp5cUpkVmtNdl9rVTlVWXRJdldKYTJIN2lTVnRSR1Y2WkJ6X2NjS0R5dnVIcDZBUDlKNVJlMk5SazZVRWdlVDVrcWxGNE1RWnN6anAxQQ?oc=5) · Norwalk Hour
- 2019-09-27 [Wilton credit union taken over by Shelton counterpart - ctinsider.com](https://news.google.com/rss/articles/CBMimAFBVV95cUxQWEVVQ05LWkpBV0twczhNT3gwbFVTTHlsU2Q5MmZESm5hS2Z0eHFxZm1Xbm9XUDRDRm1Dd3BXMnBNY2xaVVY5VDBhYlFabWw2UWFMRzRGNVRzM3Q5bG1pUUVnZ2RIcTVwVUZtT19YUlVQd3VvTmR1UlNCQk5LSkhITXpkQV94REY1WE13YUlRdEtqZGUwS0hYdw?oc=5) · ctinsider.com
- 2024-11-17 [Shelton dentist, family back to bring food to hungry this Thanksgiving - ctpost.com](https://news.google.com/rss/articles/CBMimgFBVV95cUxOaWxRaHVENFRzLVNOOHg0Q3ZEalM2T2JwcWVBWTRpZVNhTkRRaFI2QXBYektCYWp4Wlh1YmFQcVF5Q2hQZlludE8xVHRPU25iOWxIQkR5NXZiMXZQeS1KT2hYQUdrbU9ZNkhCaWlHTjdCUUlUWkNnOHhaYUVkNmVKOHhnelJiQ2poTVFFMkpLNzgtS0daRHV3VGhB?oc=5) · ctpost.com
- 2026-07-29 [300 Bridgeport Children To Receive Back-To-School Bags: Donations Needed - DailyVoice.com](https://news.google.com/rss/articles/CBMipgFBVV95cUxPZ29NWGFDYTJydjJjV0Y3ZkdRaElCNlZpbkc4MEJ2bUE0dDNYbjB1emd3SzVLb1lxM2dkWUtDeG04R0R6dkxyYlBIVTc1MHhyajFGRFlKR19HczR6VEJ5YnVlNzFtU3hjcDlScXBKYUtsc2hXTjZaRGQ3dkFiRWlteDk4NWs2eU9mZFRDMXU5NG5TaHJzLTdjckk3aUg3dmhOWFlzcG9n?oc=5) · DailyVoice.com
- 2019-11-27 [Sterling House Seeks Donations For Stratford Holiday Toy Drive - Patch](https://news.google.com/rss/articles/CBMinwFBVV95cUxQQVFvbnhnTDV6bFV3Zng4TXRvaWZtTDVTX3pqaThZdTlnYlgybDJMUHotMkJGVDhGUmhmNXY3U1pJQkpQejd0akhNM3VIYUFpbk02UUpyUTlsdHJWcFJKYlZYeXVRUnY1bTYwc0ZYMFQwQmZHM2xNTWY1eVMwREUxWG5jNVJ2dnBLc0dTcFpjaXNyMFVQMUZLV3dmTEl2OWc?oc=5) · Patch
- 2020-07-11 [Myra Zrike Obituary (1948 - 2020) - Newington, C. T, CT - The News-Times - Legacy obituary](https://news.google.com/rss/articles/CBMiigFBVV95cUxOY2VpajcxcVJMbmc4U0hLM3NoM3AyQmd1LVY3XzRRY3Vpakx6NHg5bExzNWhoTXdOTHJSXzcxQ05ndjIycFRGdmxIWklLWnZaSGs2bHFMOUxBa3VlY2FGbDVQeXl1ME1OaEVOODR6MldiSlNfalpfVmhia09zT1A1R0dBUEJMU092VFE?oc=5) · Legacy obituary
- 2013-01-11 [Greater Norwalk Area Credit Union merging amid some opposition - Norwalk Hour](https://news.google.com/rss/articles/CBMinwFBVV95cUxObXZZLVAxV0Z2d1FPOHBjQXVwY29yRHBWa3gtWmJmYXhCRzlxaHBncXpYVWU3Yk1CRUIwR0l1bkZzeXRqa0ItZGZFNjd5N3VMY09NWWQzNlhWQnFWbHE5aWE3MUNnZDhsOGFtVXZMUV8wT1dMTGxkR0dVQmo2cm5CTXBIWHM2c1pVUnNuMkhpZm1CR0VQbXdiRTJJNUE0a2M?oc=5) · Norwalk Hour

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=68479 (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/63.json (key "68479", 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=68479
- 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