# MAGNIFI FINANCIAL
MELROSE, MN · NCUA charter 68604 · asset band $1-10B · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/magnifi-financial-68604

Who the members are: state charter, organized 1939. 85,373 members of 4,661,442 potential (1.8% of the field); checking penetration 72% (share draft accounts per 100 members); loans per 100 members 56.

**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 | $2.67B |
| Members | 85,373 (0.9% YoY) |
| Full-time staff | 411 |
| Net worth | $298.6M |
| Net worth ratio | 11.2% (p60 of band) |
| ROA (annualized) | 0.45% (p26 of band) |
| Total delinquency | 0.18% (p7 of band) |
| Net charge-offs (annualized) | 0.14% (p10 of band) |
| Loans / shares | 97% (p83 of band) |
| Cash / assets | 7.3% |
| Borrowings / assets | 5.46% |
| Net interest margin | 3.10% (p36 of band) |
| Operating expense / assets | 3.32% (p57 of band) |
| Vehicles % of loans | 10% (p11 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 64% |
| Third-party paper % of net worth | 141% (p51 of band) |
| Vehicle delinquency | 0.40% (p27 of band) |
| Vehicle NCO | 0.99% (p51 of band) |
| Repossessed % of vehicle book | 0.01% (p24 of band) |
| Real estate % of loans | 14% |
| Credit cards % of loans | 1% |
| Unsecured % of loans | 1% |
| Commercial % of net worth | 468% |
| Core shares % of member funds | 29% |
| Certificates % of member funds | 38% |
| Average share balance | $8,344 |
| Participations bought / yr | $0 |
| Participations sold / yr | $15.8M |
| Participations outstanding | $282.9M |
| Loans outstanding per 100 members | 56% |
| Loans granted per 100 members, annualized | 12% |
| Average loan balance | $45,125 |
| Loans granted, annualized | $664.9M |

## Participation posture (from the same filings)

Bought $0 and sold $15.8M in the latest annualized quarter; $282.9M outstanding purchased (94.7% of net worth), $198.3M sold and retained. Sold in 8 and bought in 6 of the last 8 quarters. Shares 7.0% year over year.

## Flags firing in the latest filing

- **loans>95% of shares** (`str_ltos`)
- **leaning on borrowings** (`str_borrowings`)
- **3rd-party paper>100% NW** (`str_thirdparty`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 2 | delinquency 2x band, loans>95% of shares |  |
| 2016-06 | 1 |  | delinquency 2x band |
| 2016-09 | 1 |  |  |
| 2016-12 | 1 |  |  |
| 2017-03 | 2 | members leaving |  |
| 2017-06 | 1 |  | members leaving |
| 2017-09 | 1 |  |  |
| 2017-12 | 1 |  |  |
| 2018-03 | 1 |  |  |
| 2018-06 | 1 |  |  |
| 2018-09 | 1 |  |  |
| 2018-12 | 1 |  |  |
| 2019-03 | 1 |  |  |
| 2019-06 | 1 |  |  |
| 2019-09 | 2 | net worth falling |  |
| 2019-12 | 1 |  | net worth falling |
| 2020-03 | 2 | losing money |  |
| 2020-06 | 2 | net worth falling, margin squeeze | loans>95% of shares, losing money |
| 2020-09 | 2 | expense trap | net worth falling |
| 2020-12 | 1 |  | expense trap |
| 2021-03 | 2 | net worth falling |  |
| 2021-06 | 0 |  | margin squeeze, net worth falling |
| 2021-09 | 0 |  |  |
| 2021-12 | 0 |  |  |
| 2022-03 | 0 |  |  |
| 2022-06 | 0 |  |  |
| 2022-09 | 1 | net worth falling |  |
| 2022-12 | 4 | delinquency rising, loans>95% of shares, leaning on borrowings |  |
| 2023-03 | 4 |  |  |
| 2023-06 | 3 |  | delinquency rising |
| 2023-09 | 3 | delinquency rising | net worth falling |
| 2023-12 | 2 |  | delinquency rising |
| 2024-03 | 4 | net worth falling, delinquency rising |  |
| 2024-06 | 3 |  | net worth falling |
| 2024-09 | 1 |  | loans>95% of shares, delinquency rising |
| 2024-12 | 3 | delinquency rising, 3rd-party paper>100% NW |  |
| 2025-03 | 3 |  |  |
| 2025-06 | 3 | loans>95% of shares | delinquency rising |
| 2025-09 | 4 | delinquency rising |  |
| 2025-12 | 3 |  | delinquency rising |
| 2026-03 | 3 |  |  |

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

- 2026-08-25 [Magnifi Financial Ranked No. 1 for Commercial Lending Growth in the Twin Cities - Yahoo Finance](https://news.google.com/rss/articles/CBMimgFBVV95cUxNRFQ0U3oyOU92aXlRNVBKSElxR1NKOURSdHl3MEdLVU1nR0I0M0JKMXJFbUhpS1dpbl84QnpyWTJ6TlhVMFpzanNXcHU5NktSM1FSalhmRE5abFpTNjVHTk51NFFzSnNJTU9PVVFWaWZWYXZUYTFrUUJzNTVXZGlEQzNEQTdoR1hKLVFia2lpdjNHZWZrNktlZldB?oc=5) · Yahoo Finance
- 2026-06-18 [Magnifi Financial is a Two-Time Forbes Best-In-State Credit Union Champion in Minnesota - newswire.com](https://news.google.com/rss/articles/CBMipwFBVV95cUxQb0R0QThZUFViSzg1YUszb2pQaXJITVY1VndOSktiNERqQmhkc3phZk9TekFNMGVNSFg3bkc5MjN4RFZlcndVVWdPdDZHUTFIYlVzNjRPaHNWMEVNbVROWUpUS01rSzR1bi0wQW81TWdOXzI5c2ZaVGh3NUpfYVh1NFgtRzRVSWxHdW5rc0hMS3hvWDlPd2ZQM3lTdi1iTUpoWlROcFVmYw?oc=5) · newswire.com
- 2026-08-25 [Magnifi Financial Ranked No. 1 for Commercial Lending Growth in the Twin Cities - New Castle News](https://news.google.com/rss/articles/CBMigAJBVV95cUxOM3hWTXlCLVVlbngyOFpmNXZsZm56UkxranYxT0VaTElCQ2ptYW1sNWh1RTFPa1RDY1Y3cGF5RUllRkxrTWxMZWhBWW16RGEzUUZ6X2FYdVB6ZHhyQmFKRDQzRjAzeUxMdjVBWVRadmM1WExLeFlYRUhZNXhLUDlfLU9KQmR3STU4akM4X3oyLUVLLXhPVlI2cHY2Q0FlSVJZRmJMcldwYTg2SjY1amFTSnluc1Y4ZlluamZNLXQ0R1BsM3prd1FaUm1SR3BxUkZmaEdDb0YzOVFYTHFpc243SFp6RVFyNEdmdU5aanZhOHhmU2VKOEl4R3R6U1NoQ2dI?oc=5) · New Castle News
- 2026-08-25 [Magnifi Financial Ranked No. 1 for Commercial Lending Growth in the Twin Cities - guardonline.com](https://news.google.com/rss/articles/CBMi_wFBVV95cUxQay1DUzh5V3F0amhWM25mYkp4N3dqZjRHSllORUxfajhsQ1NrVnMwWDE3WTVpcVFtVHlWTUZKdXVpVmxlRnNPLW02U0p6SjBLTlgxaGYwWVhscjRNTGN1UmtqcU5BUnR6OHp5ZGloV3ZrcEplc1IydEY1blVCMjhMUExEdlJtQl9iRHp5ZE1aUTZWN2NTTW52T3FDZTgwTmhkNjd0NjJrSTBzV0MtUTdMZHlBeEFqMHNhSlVBYmVvSnhObjd4ay1Na012bEE4bFJ5aDFiX3ppWDk2Rm8yT3NKQ3FLcFdKWk1DVUg3aF8ydXZzNWNJUFJ5TFc5VmQ0MEk?oc=5) · guardonline.com
- 2025-03-09 [Magnifi Financial named 'Large Business of the Year' - hometownsource.com](https://news.google.com/rss/articles/CBMi8AFBVV95cUxQWUNBNy0xQTRSLWRGNDlNOEdYVUpHQkdHTDNGZ1J3eDBzQjE2R0NDbUFTWm1oRXY0SDlvaXlpdnN4WXM3ZFF0eFlyc1VVakpZMS1oZ0NZZ21FMldOS0tLN1ZWUUdEY3NEbEVCdkJvN093M0laWG52OTdVOFY3MTZzSmlzbFdDUVlfbGM5ZFJ4ay1XcGhQUnlqcWZGR090aWFSMHhubmZjaWpaOUE5WWNGNVdGMkJZbGY1ZWJYUHNQbFFiVUlnQVlreHZwcG9BSlVPMGs3Q2t2b19Tcl9yWFQtbmtTT1BLdi1YWmFrbWNuS3o?oc=5) · hometownsource.com
- 2024-10-11 [Table of Experts: The Minnesota credit union landscape - The Business Journals](https://news.google.com/rss/articles/CBMiqgFBVV95cUxPakhOdTAyWGJhdGVFcVZCZWpTYjA3aDhSV1Z5ZEVaRHgtXzB1QkY5eTlSTmx1bHpFN2NUcnpWUGM0NVFSM0s1NzZDVGhGZXluZWphQXVLOG1SZXBmaDd4d25VUV80Yi1hVzR4NUtNS3JYcFVqdFNzU3J5V1dnQ2plcmJxX3Q0UTdSSHltLU1KZDFCS1ROVndsYUZXVVJ3cFdWWUVoVVN4ajR2dw?oc=5) · The Business Journals
- 2022-03-02 [Central Minnesota Credit Union Changes Its Name - KNSI](https://news.google.com/rss/articles/CBMiiAFBVV95cUxNYnJsR2F4TXIxQXI5dDhwOXM0QWdKbnJwWGFnVEY5emNXZ3dCbEpkTWw0enV6aUFhVDhBdWp3c0dnZ05kYi1HUVZhQmVIV3JTQjdPX3ZLekdKMzNBUS1MVTVLWXhUR0RFSnVXYjd3RHpBcXB6dExXNl9ER1ZpNVJIRWVKd0ozbDdh?oc=5) · KNSI
- 2024-06-13 [Magnifi Financial Opens New Maple Grove Location - MinneapoliMedia](https://news.google.com/rss/articles/CBMirAFBVV95cUxNWS05bkhSN0JmX3p1eHBleTFmZFp6RE1SZDk4d2RNdmpoak16TWpsTklRZW9FdGpmVHp5cWJWNVNLRlVHMlZqME1ZQWRJZkFkVEF6eFBsR25JSkNjaVp0VXdaNWdqa2IzNldlbVQ4Y2JoVElwWXNGa0ROWl9OYXpGTTlYMEFEcFZUSm1JSGFCbG9COUxxWW85UFlxTUJZbTlobmxXWjdLMS1CQ1dV?oc=5) · MinneapoliMedia

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=68604 (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/60.json (key "68604", 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=68604
- 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