# FIRST TRUST
Michigan City, IN · NCUA charter 68596 · asset band $100-200M · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/first-trust-68596

Who the members are: state charter, organized 1959, low-income designated. 15,060 members of 331,837 potential (4.5% of the field); checking penetration 66% (share draft accounts per 100 members); loans per 100 members 25.

**Verdict on the desk:** this could be *liquidity-rich*. 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 | $192.6M |
| Members | 15,060 (3.8% YoY) |
| Full-time staff | 34 |
| Net worth | $25.1M |
| Net worth ratio | 13.0% (p67 of band) |
| ROA (annualized) | 1.25% (p81 of band) |
| Total delinquency | 1.12% (p77 of band) |
| Net charge-offs (annualized) | -0.01% (p5 of band) |
| Loans / shares | 31% (p4 of band) |
| Cash / assets | 38.3% |
| Borrowings / assets | 0.00% |
| Net interest margin | 3.26% (p28 of band) |
| Operating expense / assets | 2.81% (p21 of band) |
| Vehicles % of loans | 41% (p59 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 10% |
| Third-party paper % of net worth | 9% (p41 of band) |
| Vehicle delinquency | 0.11% (p14 of band) |
| Vehicle NCO | 0.00% (p8 of band) |
| Repossessed % of vehicle book | 0.00% (p32 of band) |
| Real estate % of loans | 30% |
| Credit cards % of loans | 0% |
| Unsecured % of loans | 4% |
| Commercial % of net worth | 46% |
| Core shares % of member funds | 65% |
| Certificates % of member funds | 13% |
| Average share balance | $5,264 |
| Participations bought / yr | $2.9M |
| Participations sold / yr | $0 |
| Participations outstanding | $11.3M |
| Loans outstanding per 100 members | 25% |
| Loans granted per 100 members, annualized | 2% |
| Average loan balance | $13,817 |
| Loans granted, annualized | $8.4M |

## Participation posture (from the same filings)

Bought $2.9M and sold $0 in the latest annualized quarter; $11.3M outstanding purchased (45.1% of net worth), $0 sold and retained. Sold in 0 and bought in 8 of the last 8 quarters. Shares 4.3% year over year.

## Flags firing in the latest filing

- **delinquency rising** (`aq_dq_rising`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 1 | delinquency 2x band |  |
| 2016-06 | 1 |  |  |
| 2016-09 | 1 |  |  |
| 2016-12 | 1 |  |  |
| 2017-03 | 2 | charge-offs p90 |  |
| 2017-06 | 1 |  | charge-offs p90 |
| 2017-09 | 1 |  |  |
| 2017-12 | 1 |  |  |
| 2018-03 | 1 |  |  |
| 2018-06 | 1 |  |  |
| 2018-09 | 1 |  |  |
| 2018-12 | 0 |  | delinquency 2x band |
| 2019-03 | 0 |  |  |
| 2019-06 | 0 |  |  |
| 2019-09 | 1 | delinquency 2x band |  |
| 2019-12 | 1 |  |  |
| 2020-03 | 0 |  | delinquency 2x band |
| 2020-06 | 1 | net worth falling |  |
| 2020-09 | 2 | margin squeeze |  |
| 2020-12 | 2 |  |  |
| 2021-03 | 2 |  |  |
| 2021-06 | 1 |  | net worth falling |
| 2021-09 | 1 |  |  |
| 2021-12 | 1 |  |  |
| 2022-03 | 0 |  | margin squeeze |
| 2022-06 | 0 |  |  |
| 2022-09 | 0 |  |  |
| 2022-12 | 1 | delinquency rising |  |
| 2023-03 | 0 |  | delinquency rising |
| 2023-06 | 0 |  |  |
| 2023-09 | 2 | delinquency rising, assets shrinking |  |
| 2023-12 | 1 |  | delinquency rising |
| 2024-03 | 1 |  |  |
| 2024-06 | 0 |  | assets shrinking |
| 2024-09 | 0 |  |  |
| 2024-12 | 0 |  |  |
| 2025-03 | 1 | delinquency rising |  |
| 2025-06 | 0 |  | delinquency rising |
| 2025-09 | 2 | delinquency 2x band, delinquency rising |  |
| 2025-12 | 1 |  | delinquency 2x band |
| 2026-03 | 1 |  |  |

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

- 2026-05-01 [Black Hills FCU Launches South Dakota's First Trust CUSO - CUTimes](https://news.google.com/rss/articles/CBMilgFBVV95cUxPNlBJUEdxa0lFMnZYb01MWFZKWmVOaXduNTRqOE13bFllbFlja2hvck9Va0ZPX0N0MWIxTGxGWEFJSTd3XzVuVjdhbHNya2RYekV1dzV2ejJzdVJ5dTFOWWtiU3NGZWVaZTM0LW1zYUJaN014a0x4ZHdkNE1LRVpzLUU0M3N5cm81aDVHdi1vWDA3MVJfMUE?oc=5) · CUTimes
- 2026-07-22 [Jeanette “Jean” Frederick - Angelcrest Inc.](https://news.google.com/rss/articles/CBMibkFVX3lxTE9KRTUyYVlUSEN6WWxmek1ySWVlYWlZUUJVN25vQUZaRmREQ2xYQUtQaHVydGRBMlBCdE9Qd3hzU1FSWEpRYlcyRjN5TktreElyVFBfWHRLM3JwUmJvczcyX0N4NjA3dW41RVRIYzF3?oc=5) · Angelcrest Inc.
- 2024-09-20 [First Trust Credit Union Stuff a Bus event is September 28th - GreatNews.Life](https://news.google.com/rss/articles/CBMilwFBVV95cUxPaHdKdTRqTEVHallCMEVaNlZmZlFLbnJ1QkQwR3dmM0F3a1A4aHp4SGJERnJiVTRleHZZSUtSclNQUXpiS1ZkcmtvdlVjX1Ytc1I3Z2xJeWZabFFCanNtWGpQZU5mVktOTTJILXJLN1BFMU1DSjdmSWZEamktMy1MNkV2Z2lNTzh6ZDZhT1BhTDkwc2dkOXNB?oc=5) · GreatNews.Life
- 2026-01-28 [Robert 'Bob' Tillema Obituary (2026) - Wheatfield, IN - Boersma Funeral Home - legacy.com](https://news.google.com/rss/articles/CBMiiAFBVV95cUxOM2NoM04zcXd4d01NUlZ5SUZlWWFLOFdHTGJyMVAwNGx0QTdVYTE3Q0FZa3BHNmpIZDBXZEpOM0UxYnluUm1qX0RBTU9TTlVXb1B0Q1RWVm9Sc1p3OWplTEpQZ3h0SHRCRGdPWmYzVDBsQmVLVmZXWTZGaUUyVkJvRjFYUTBGekct?oc=5) · legacy.com
- 2018-09-13 [First Trust Credit Union Introduces Debit Card Lock Feature - GreatNews.Life](https://news.google.com/rss/articles/CBMilgFBVV95cUxNS3FDTlRHdXJibUs2R1R0cUNIdjZDenc3cnFQZTRZZkxyVHZBWFBEb3ZYVlh0OWtsTl9KV1Z5dnlBU0Jpd3NvalNXVV9MVDc4NDMteHpITC1idzNMTjdXMkdLV0VhS29NMTNfTFBZVlBVcFNzTTFIMHhCN01NQllLRzFIRkZqYzYwVGRFLTFKay1NRjlUdmc?oc=5) · GreatNews.Life
- 2026-07-10 [2026 Back to School Rally Supply Drive is Under Way - wimsradio.com](https://news.google.com/rss/articles/CBMijgFBVV95cUxOUW93bXdLa2ZDYnlhUEVZZjI0VVc5U1JvMWVueExUd2EzNUxBNEl4RFF5SmdyeE41OE5tZWUtNFE4aWNfZWlCYXlMcTVmM2NVLXR3TVNUaFVJRWE0RFZKMXRfSVpOUGc5dnhrb0MxaS1Pb09vT2cwTDNOUGhZckxjTlVUSkI2Tm5zVXRMYUF3?oc=5) · wimsradio.com
- 2024-07-11 [Obituary for Ronald J Budzinski - Saint Joseph Funeral Homes](https://news.google.com/rss/articles/CBMiWkFVX3lxTE91OEtjTDVuUjd2Y1FZY1ZFU1pqVG5GeDlFWElhRWFJUU5INDd1NDQ3ZUppNWdMZU5BdFAzNmFtMXBxUkxDWXMwREZuQXp2YVpaUG9hSEplU1VQQQ?oc=5) · Saint Joseph Funeral Homes
- 2026-08-01 [Jeremy Zamarron - nwitimes.com](https://news.google.com/rss/articles/CBMid0FVX3lxTE9NODF5SWhIeHpKaXZETzVqcjV2STBlQU9URXNwU0lrUVpiRlhsaEFtRlBKWngwc0pWTlcyY0dsZ3pxLVVET2NFVlNoSE1jblEyM0xSdkJjb29nZmhHdXZuMHBLVG91b2REaG5wVFlCaGkxTC1ZYWR3?oc=5) · nwitimes.com

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=68596 (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/52.json (key "68596", 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=68596
- 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