# SMW FINANCIAL
LINO LAKES, MN · NCUA charter 68676 · asset band $50-100M · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/smw-financial-68676

Who the members are: state charter, organized 1954. 4,624 members of 15,000 potential (30.8% of the field); checking penetration 60% (share draft accounts per 100 members); loans per 100 members 55.

**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 | $92.1M |
| Members | 4,624 (-1.2% YoY) |
| Full-time staff | 14 |
| Net worth | $10.0M |
| Net worth ratio | 10.9% (p29 of band) |
| ROA (annualized) | 0.58% (p42 of band) |
| Total delinquency | 0.12% (p14 of band) |
| Net charge-offs (annualized) | 0.06% (p26 of band) |
| Loans / shares | 66% (p58 of band) |
| Cash / assets | 17.8% |
| Borrowings / assets | 0.00% |
| Net interest margin | 3.15% (p23 of band) |
| Operating expense / assets | 3.28% (p41 of band) |
| Vehicles % of loans | 29% (p28 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 35% |
| Third-party paper % of net worth | 133% (p89 of band) |
| Vehicle delinquency | 0.15% (p21 of band) |
| Vehicle NCO | 0.12% (p45 of band) |
| Repossessed % of vehicle book | 0.00% (p38 of band) |
| Real estate % of loans | 59% |
| Credit cards % of loans | 2% |
| Unsecured % of loans | 4% |
| Commercial % of net worth | 0% |
| Core shares % of member funds | 67% |
| Certificates % of member funds | 23% |
| Average share balance | $7,336 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | $8,479 |
| Loans outstanding per 100 members | 55% |
| Loans granted per 100 members, annualized | 12% |
| Average loan balance | $21,249 |
| Loans granted, annualized | $26.3M |

## Participation posture (from the same filings)

Bought $0 and sold $0 in the latest annualized quarter; $8,479 outstanding purchased (0.1% of net worth), $0 sold and retained. Sold in 0 and bought in 0 of the last 8 quarters. Shares 2.6% year over year.

## Flags firing in the latest filing

- **net worth falling** (`cap_falling`)
- **delinquency rising** (`aq_dq_rising`)
- **3rd-party paper>100% NW** (`str_thirdparty`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 2 | losing money, 3rd-party paper>100% NW |  |
| 2016-06 | 3 | charge-offs p90 |  |
| 2016-09 | 2 |  | charge-offs p90 |
| 2016-12 | 1 |  | losing money |
| 2017-03 | 2 | losing money |  |
| 2017-06 | 5 | net worth falling, delinquency rising, repo signal |  |
| 2017-09 | 3 |  | delinquency rising, repo signal |
| 2017-12 | 2 | delinquency rising | losing money, net worth falling |
| 2018-03 | 3 | losing money |  |
| 2018-06 | 5 | repo signal, members leaving, loans>95% of shares | delinquency rising |
| 2018-09 | 2 |  | repo signal, members leaving, loans>95% of shares |
| 2018-12 | 2 |  |  |
| 2019-03 | 1 |  | losing money |
| 2019-06 | 3 | delinquency rising, loan book shrinking |  |
| 2019-09 | 2 |  | delinquency rising |
| 2019-12 | 4 | assets shrinking, members leaving |  |
| 2020-03 | 6 | losing money, delinquency rising |  |
| 2020-06 | 7 | net worth falling, margin squeeze | assets shrinking |
| 2020-09 | 5 |  | 3rd-party paper>100% NW, delinquency rising |
| 2020-12 | 3 |  | members leaving, losing money |
| 2021-03 | 3 | thin capital | loan book shrinking |
| 2021-06 | 3 | delinquency 2x band | net worth falling |
| 2021-09 | 3 | delinquency rising, 3rd-party paper>100% NW | margin squeeze, thin capital |
| 2021-12 | 3 |  |  |
| 2022-03 | 3 | thin capital, net worth falling | delinquency 2x band, delinquency rising |
| 2022-06 | 3 | members leaving | net worth falling |
| 2022-09 | 3 | delinquency 2x band | thin capital |
| 2022-12 | 3 | assets shrinking | delinquency 2x band |
| 2023-03 | 5 | delinquency 2x band, delinquency rising |  |
| 2023-06 | 4 |  | delinquency 2x band |
| 2023-09 | 2 |  | members leaving, delinquency rising |
| 2023-12 | 2 | delinquency rising | assets shrinking |
| 2024-03 | 1 |  | delinquency rising |
| 2024-06 | 1 |  |  |
| 2024-09 | 2 | members leaving |  |
| 2024-12 | 2 |  |  |
| 2025-03 | 2 |  |  |
| 2025-06 | 2 |  |  |
| 2025-09 | 3 | delinquency rising |  |
| 2025-12 | 3 | net worth falling | members leaving |
| 2026-03 | 3 |  |  |

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

- nothing found for that search

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=68676 (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/4.json (key "68676", 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=68676
- 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