# CANALS & TRAILS
Lockport, IL · NCUA charter 68508 · asset band <$50M · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/canals-and-trails-68508

Who the members are: state charter, organized 1959. 3,119 members of 20,000 potential (15.6% of the field); checking penetration 41% (share draft accounts per 100 members); loans per 100 members 416.

**Verdict on the desk:** this could be *quiet fade*. 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 | $34.6M |
| Members | 3,119 (-3.5% YoY) |
| Full-time staff | 7 |
| Net worth | $3.7M |
| Net worth ratio | 10.6% (p20 of band) |
| ROA (annualized) | 1.05% (p72 of band) |
| Total delinquency | 0.52% (p45 of band) |
| Net charge-offs (annualized) | 1.24% (p88 of band) |
| Loans / shares | 25% (p9 of band) |
| Cash / assets | 73.7% |
| Borrowings / assets | 0.00% |
| Net interest margin | 3.63% (p40 of band) |
| Operating expense / assets | 3.20% (p37 of band) |
| Vehicles % of loans | 41% (p26 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 5% |
| Third-party paper % of net worth | 9% (p90 of band) |
| Vehicle delinquency | 0.55% (p53 of band) |
| Vehicle NCO | 0.11% (p72 of band) |
| Repossessed % of vehicle book | 0.00% (p46 of band) |
| Real estate % of loans | 49% |
| Credit cards % of loans | 4% |
| Unsecured % of loans | 7% |
| Commercial % of net worth | 0% |
| Core shares % of member funds | 92% |
| Certificates % of member funds | 1% |
| Average share balance | $5,943 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | $164,885 |
| Loans outstanding per 100 members | 416% |
| Loans granted per 100 members, annualized | 368% |
| Average loan balance | $598 |
| Loans granted, annualized | $4.7M |

## Participation posture (from the same filings)

Bought $0 and sold $0 in the latest annualized quarter; $164,885 outstanding purchased (4.5% of net worth), $0 sold and retained. Sold in 0 and bought in 0 of the last 8 quarters. Shares -2.7% year over year.

## Flags firing in the latest filing

- **delinquency rising** (`aq_dq_rising`)
- **members leaving** (`shrink_members`)
- **loan book shrinking** (`shrink_loans`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 1 | thin capital |  |
| 2016-06 | 1 |  |  |
| 2016-09 | 0 |  | thin capital |
| 2016-12 | 1 | thin capital |  |
| 2017-03 | 3 | net worth falling, repo signal |  |
| 2017-06 | 1 |  | thin capital, net worth falling |
| 2017-09 | 0 |  | repo signal |
| 2017-12 | 0 |  |  |
| 2018-03 | 1 | assets shrinking |  |
| 2018-06 | 2 | delinquency 2x band, delinquency rising | assets shrinking |
| 2018-09 | 2 |  |  |
| 2018-12 | 2 |  |  |
| 2019-03 | 2 |  |  |
| 2019-06 | 0 |  | delinquency 2x band, delinquency rising |
| 2019-09 | 0 |  |  |
| 2019-12 | 0 |  |  |
| 2020-03 | 1 | net worth falling |  |
| 2020-06 | 2 | delinquency rising |  |
| 2020-09 | 1 | margin squeeze | net worth falling, delinquency rising |
| 2020-12 | 3 | delinquency rising, loan book shrinking |  |
| 2021-03 | 4 | thin capital, net worth falling | delinquency rising |
| 2021-06 | 3 |  | loan book shrinking |
| 2021-09 | 2 |  | net worth falling |
| 2021-12 | 3 | auto monoline |  |
| 2022-03 | 4 | net worth falling, delinquency rising | margin squeeze |
| 2022-06 | 3 |  | net worth falling |
| 2022-09 | 3 |  |  |
| 2022-12 | 4 | delinquency 2x band |  |
| 2023-03 | 6 | net worth falling, charge-offs p90 |  |
| 2023-06 | 4 | repo signal, assets shrinking | auto monoline, delinquency rising, delinquency 2x band, net worth falling |
| 2023-09 | 4 | members leaving, loan book shrinking | thin capital, repo signal |
| 2023-12 | 3 |  | charge-offs p90 |
| 2024-03 | 3 | losing money | members leaving |
| 2024-06 | 5 | delinquency 2x band, delinquency rising, members leaving | losing money |
| 2024-09 | 2 |  | delinquency 2x band, delinquency rising, members leaving |
| 2024-12 | 1 |  | assets shrinking |
| 2025-03 | 2 | net worth falling |  |
| 2025-06 | 1 |  | net worth falling |
| 2025-09 | 2 | members leaving |  |
| 2025-12 | 3 | delinquency rising |  |
| 2026-03 | 3 |  |  |

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

- 2024-10-25 [Steve "Pickle" Clawson Obituary - Kurtz Memorial Chapel](https://news.google.com/rss/articles/CBMibEFVX3lxTE5idHkwMmhYTHhQOU9IT25ZYXlmWHRWZGNyU2F2LVBVckNVUlItbGtSbEhPVEhhamY1ZkpXMlBZR0FCNjgxYnlUdnY1NXdzVkRzc2R0dmNNY0JLemRwSkRFblJ2WXR1cTlpQ1prdQ?oc=5) · Kurtz Memorial Chapel
- 2022-06-08 [David Hennessey Obituary (2022) - Mokena, IL - Herald-News - legacy.com](https://news.google.com/rss/articles/CBMimAFBVV95cUxOY1dJQ3NFVENmOG9OXzNLeXNsM3YzNFZFc3BVZ0U2LW5UUks0ZzFOU21Keno1QjlqVXdHOUFCZFhKVEVFTG4yclcxUEhsLUFGV0oxeDVJZXlpMlR4MTY4bVk2VW51RXRKMmYyZ3NQcHV3czB4RlItb0dpX3Q5WllQNzhGS0RUQUw1aXBaSXViRHZBbHRHaFotRQ?oc=5) · legacy.com

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=68508 (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 "68508", 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=68508
- 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