# BLAZE
Falcon Heights, MN · NCUA charter 68651 · asset band $1-10B · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/blaze-68651

Who the members are: state charter, organized 1934, low-income designated. 256,228 members of 4,509,598 potential (5.7% of the field); checking penetration 65% (share draft accounts per 100 members); loans per 100 members 58.

**Verdict on the desk:** this could be *ordinary*. 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 | $4.82B |
| Members | 256,228 (2.6% YoY) |
| Full-time staff | 613 |
| Net worth | $414.1M |
| Net worth ratio | 8.6% (p8 of band) |
| ROA (annualized) | 0.83% (p61 of band) |
| Total delinquency | 0.49% (p36 of band) |
| Net charge-offs (annualized) | 0.54% (p54 of band) |
| Loans / shares | 65% (p12 of band) |
| Cash / assets | 10.6% |
| Borrowings / assets | 8.30% |
| Net interest margin | 3.02% (p31 of band) |
| Operating expense / assets | 3.06% (p41 of band) |
| Vehicles % of loans | 19% (p31 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 53% |
| Third-party paper % of net worth | 77% (p33 of band) |
| Vehicle delinquency | 0.77% (p64 of band) |
| Vehicle NCO | 1.67% (p78 of band) |
| Repossessed % of vehicle book | 0.00% (p11 of band) |
| Real estate % of loans | 54% |
| Credit cards % of loans | 4% |
| Unsecured % of loans | 7% |
| Commercial % of net worth | 103% |
| Core shares % of member funds | 44% |
| Certificates % of member funds | 31% |
| Average share balance | $7,264 |
| Participations bought / yr | $117.2M |
| Participations sold / yr | $0 |
| Participations outstanding | $46.2M |
| Loans outstanding per 100 members | 58% |
| Loans granted per 100 members, annualized | 9% |
| Average loan balance | $17,673 |
| Loans granted, annualized | $919.6M |

## Participation posture (from the same filings)

Bought $117.2M and sold $0 in the latest annualized quarter; $46.2M outstanding purchased (11.2% of net worth), $70.4M sold and retained. Sold in 0 and bought in 1 of the last 8 quarters. Shares 10.0% year over year.

## Flags firing in the latest filing

- **thin capital** (`cap_low`)
- **net worth falling** (`cap_falling`)
- **leaning on borrowings** (`str_borrowings`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 1 | thin capital |  |
| 2016-06 | 1 |  |  |
| 2016-09 | 1 |  |  |
| 2016-12 | 3 | net worth falling, 3rd-party paper>100% NW |  |
| 2017-03 | 3 |  |  |
| 2017-06 | 3 |  |  |
| 2017-09 | 2 |  | net worth falling |
| 2017-12 | 2 |  |  |
| 2018-03 | 2 |  |  |
| 2018-06 | 2 |  |  |
| 2018-09 | 2 |  |  |
| 2018-12 | 2 |  |  |
| 2019-03 | 2 |  |  |
| 2019-06 | 2 |  |  |
| 2019-09 | 1 |  | thin capital |
| 2019-12 | 1 |  |  |
| 2020-03 | 1 |  |  |
| 2020-06 | 3 | thin capital, net worth falling |  |
| 2020-09 | 3 |  |  |
| 2020-12 | 3 |  |  |
| 2021-03 | 3 |  |  |
| 2021-06 | 2 |  | net worth falling |
| 2021-09 | 2 |  |  |
| 2021-12 | 4 | net worth falling, delinquency rising |  |
| 2022-03 | 3 |  | net worth falling |
| 2022-06 | 3 |  |  |
| 2022-09 | 4 | net worth falling |  |
| 2022-12 | 3 |  | net worth falling |
| 2023-03 | 2 |  | delinquency rising |
| 2023-06 | 2 |  |  |
| 2023-09 | 3 | net worth falling |  |
| 2023-12 | 3 | expense trap | net worth falling |
| 2024-03 | 4 | delinquency rising, leaning on borrowings | expense trap |
| 2024-06 | 4 |  |  |
| 2024-09 | 4 |  |  |
| 2024-12 | 4 |  |  |
| 2025-03 | 3 |  | delinquency rising |
| 2025-06 | 2 |  | 3rd-party paper>100% NW |
| 2025-09 | 1 |  | thin capital |
| 2025-12 | 2 | thin capital |  |
| 2026-03 | 3 | net worth falling |  |

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

- 2026-01-15 [How Unusual Was Blaze Credit Union’s Data Breach? - Twin Cities Business](https://news.google.com/rss/articles/CBMidkFVX3lxTFBXYTZyM2dKd1pmTFNWVFJkMVN1MHJvVk1ib2VBSUlONzNGUlJzOUlSTHBoN2lpRTFkZkpzXzhYMEtublJINkdVdkwwZ1BTU1RxZUpzZk55eGsyVWJWOUVPZU84THp5Tk9aRGlFOFdNMkd3cmkwR1E?oc=5) · Twin Cities Business
- 2026-08-29 [Cost is Correct with Blaze Credit Union - 5 EYEWITNESS NEWS](https://news.google.com/rss/articles/CBMikgFBVV95cUxOVjctUXN6aEpSZmJscWJsSFVqX0ZxRWd3cEU5U283MmNDbFB3ZW9QZlJkaFBzT0pkQUN5SmlzYVpSeGYzanNPT1JZV3FYcFBJVDVWSk1OS2k1VDI3UXd4LWFQX3J0Tzh4cmFkMkhKODRfTTQwOG9vYzNHeUNXU05JZ05yWHdCZFhES3hsNnVONGdQUQ?oc=5) · 5 EYEWITNESS NEWS
- 2026-01-06 [Blaze Credit Union paid $3.2 million for its new Rochester branch space - Post Bulletin](https://news.google.com/rss/articles/CBMirAFBVV95cUxNZVJIVElLZmVFZklNLVQtaTI2NlJrbmloZ0dFbFk3VWZla3RvbWw0WkZhd2plclpwbTh3MngwRE95ZHdLdllCMnI0Sm5KbmZ0SEZzWHVaQV9kTVAzaF9xY3JhYW5hbFA0RWY1Q1hLMFl2LS11WVQtLTVWOHQ2RndGUGRBSzBZV2tMeU5McWtTMmRlUXVFTjFLU3FZcU5ESDJnampncEpjeEYzOXlU?oc=5) · Post Bulletin
- 2025-12-30 [Blaze Credit Union expanding to Rochester, buying part of Eagle Rock Bank HQ - The Business Journals](https://news.google.com/rss/articles/CBMikgFBVV95cUxQWU04RTVQREV3YjZQTDNXOUdIOVNqZzFTS2NYMWdabS1DZVZkeFNLaS1COUxKZFduaHNTeTQ1T0Z1VVpyMm4tbUNuZEdEaVh0NkN2ekRacHBNU1JnRkgyUE5QaWduMExvY1FiUkUwemd0SjJoaDR2aEFtR2tuRm81am5YUWJCbU9QN1lmYi1iUXFEZw?oc=5) · The Business Journals
- 2025-12-31 [235K members of Minnesota-based credit union notified of data breach after cyberattack - startribune.com](https://news.google.com/rss/articles/CBMiwgFBVV95cUxPRzJiOXRVTjZxcndlU1o0emg4ZE9aOXVMWUhINThKREJueTFtQVI5Q0NETk0zbDJKaTUzOE9PNF9kdFFZZ291dm9lVEtSemEzSDhQblJUUmZyM2NIWUtXdjNMVWtaVlRfQzRPVjlvSE1IRnZFSk9idlBmLVVkc0JBQnRVMkFWa1pHa1FNYUdyMmVidU00MlpxSFIwOXZ3QzdkT1g1ZHJ3WUh6bzBGaUhuZ1ZLM1VMOHJIOUdhQ181WXlZZw?oc=5) · startribune.com
- 2026-05-13 [Blaze Credit Union opens a branch in Rochester - Finance & Commerce](https://news.google.com/rss/articles/CBMijAFBVV95cUxQOFlQdXZyTEtKMjdES0Q3aGdMSnNGNnFjRGhYR2FnTGdCa1dtU2lUTlNPUzZmM3lZTEJXeE9YTGZLY0NzNC04SVB6N0lKNVc5QjF2cUNib3hPNzZpUmUwVlV2THRtdWZSaGRUZ0xXS3lDTE10WG5mQXBfeGJBazRyR1ZxSEJ1bWJUdTVCWA?oc=5) · Finance & Commerce
- 2025-09-09 [Minnesota Wild and Blaze Credit Union Announce Multi-year Home Helmet Partnership - nhl.com](https://news.google.com/rss/articles/CBMiugFBVV95cUxNSEgxdzlfbndzX0JFOEZNaFdPcFNHM1BVTzlxaHhXREZOZVAyVDJKZ1NPZmVsb2RXekhXRlZoOS13bktvSW5BUW9DU24yVUkyNW5nLTdpSEUwZVp4WDg1X0llNEQxRzV6WUNSZHkxMzUzYW9PUTFTSS1xMm1rdHNSeERmMENQTFRiNWhaSWJmT2lDcDhZQTBESmxYRmRRQkZZT1FKdTY5eTU4TG8zdldLNUw5TW9SSkRFeGc?oc=5) · nhl.com
- 2025-12-30 [Eagle Rock Bank to move its headquarters, opening door for Blaze Credit Union to move into Rochester - Post Bulletin](https://news.google.com/rss/articles/CBMi0wFBVV95cUxNRXZYMEkxaU1kV19tS1Y2MmVGSWt6cnhLVUo3ZnJHTkw4NWY4Ul9kalBpb1N4TXZMSDQ4U0FlTGtBTlhWTi1JRTltV015NHlaU1ZGelFjekxNVlBTVThxZ2c2akZjMlRFOXBHbjdJakhhSm9sUFFYRjZQbDNBRjNjRGlmS1JGRlJZZzNGQVhEVFo3T0dzV0wwRWtYRjVpVU1kb1NYN09OWGctTXgxcmxKeWxtUE1FdHdUdWxhdmtVOUJrZnRsLU9sRDF5dTU4bEZUTmR3?oc=5) · Post Bulletin

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=68651 (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/43.json (key "68651", 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=68651
- 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