# COBALT
Council Bluffs, IA · NCUA charter 68695 · asset band $1-10B · latest filing 2020-03 · stopped filing after 2020-03 (departed; for a credit union that is almost always a merger)
Share link (named URL with a preview card): https://getbookiq.com/cu/cobalt-68695

Who the members are: state charter, organized 1946. 109,582 members of 1,300,000 potential (8.4% of the field); checking penetration 47% (share draft accounts per 100 members); loans per 100 members 48.

**Verdict on the desk:** this could be *indirect buyer*. Composite score 4 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $1.03B |
| Members | 109,582 (0.9% YoY) |
| Full-time staff | 252 |
| Net worth | $95.3M |
| Net worth ratio | 9.3% (p20 of band) |
| ROA (annualized) | 0.44% (p36 of band) |
| Total delinquency | 0.76% (p84 of band) |
| Net charge-offs (annualized) | 0.72% (p84 of band) |
| Loans / shares | 112% (p98 of band) |
| Cash / assets | 4.4% |
| Borrowings / assets | 10.98% |
| Net interest margin | 2.88% (p54 of band) |
| Operating expense / assets | 3.31% (p58 of band) |
| Vehicles % of loans | 55% (p90 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 97% |
| Third-party paper % of net worth | 503% (p97 of band) |
| Vehicle delinquency | 0.95% (p89 of band) |
| Vehicle NCO | 0.84% (p68 of band) |
| Repossessed % of vehicle book | 0.00% (p14 of band) |
| Real estate % of loans | 38% |
| Credit cards % of loans | 2% |
| Unsecured % of loans | 6% |
| Commercial % of net worth | 129% |
| Core shares % of member funds | 53% |
| Certificates % of member funds | 32% |
| Average share balance | $4,033 |
| Participations bought / yr | $8.8M |
| Participations sold / yr | $0 |
| Participations outstanding | – |
| Loans outstanding per 100 members | 48% |
| Loans granted per 100 members, annualized | 13% |
| Average loan balance | $17,058 |
| Loans granted, annualized | $403.0M |

## Flags firing in the latest filing

- **net worth falling** (`cap_falling`)
- **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 |
|---|---|---|---|
| 2018-12 | 6 | thin capital, delinquency 2x band, charge-offs p90, loans>95% of shares, leaning on borrowings, 3rd-party paper>100% NW |  |
| 2019-03 | 5 |  | charge-offs p90 |
| 2019-06 | 3 |  | thin capital, delinquency 2x band |
| 2019-09 | 3 |  |  |
| 2019-12 | 4 | charge-offs p90 |  |
| 2020-03 | 4 | net worth falling | charge-offs p90 |

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

- 2026-01-06 [Cobalt Credit Union Teams Up with Eltropy to Deploy AI Voice - Finovate](https://news.google.com/rss/articles/CBMiigFBVV95cUxNR3VGRFBvTzNzUnQ5V0ZPa0tTVzh0aThVNndoeFk4ZFVJMU9YVENudVdtcm95bXpqMGpUYktqM0hxcVJLZVZ6UHJzamJtSEJoci1qZDlXQ193OFJPeXRMellWLUZCMjg2NkRXS2lSeTN1YTFsU0pQdTMycW8wLUxOXzRXa2NoNUZCcHc?oc=5) · Finovate
- 2019-07-03 [Cobalt Credit Union Introduces Interactive Video Banking To Iowa And Nebraska with POPio Mobile Video Cloud - PRWeb](https://news.google.com/rss/articles/CBMi6AFBVV95cUxPeG1LaHpLSm0xckxZTHBwVFd3bmZMUXpkdHRvX3VhV21NUWdsSmFmR2dxTnZZM3ExWXJHTndxU3gzdl9MSDhwTWtKWkZFbDc2ekJ2cWRpdE1RbEdrMTNsUU1nNVFSSGphN0JJcTVhclF4czdUb25mY0ExMTZtRVVDMlQ2QjB5d0ZkUWM4MEFXUnZvVUdRUkc2cS16b1NBSEtqclhTdFBGbVg0RzdzbWtQZ0VJbWdvQjZCUm5RdVJ4dVQzVWE5THFzVFA4SE1xUWY2VTlhTHRQcXVnYjRtQnlYeGsxNG0teHo1?oc=5) · PRWeb
- 2021-01-07 [Cobalt promotes insider to take over for retiring CEO | Credit Union Journal - American Banker](https://news.google.com/rss/articles/CBMipAFBVV95cUxOajk2ZTVIZHhMNDE5TElPOU1fVHJ4NUlJUEN4ZVJUZ0EwTUsxMjZtNVM4Z2ZWc2hUOG9XSHRzaXRHMmU5TkxWTjZuM2ZEZWpmNks3QlJqRVJ6YkE2b1RjVHhGcy1hTWEzdmV2akRKaWJWVm5ZQ0hCazF4Yi1VYzBiRUxZaDBWYnRGekZ1b2tPS0oydFVRbEoxVUp5Qnl6WXg2bkJQaQ?oc=5) · American Banker
- 2019-08-28 [No More Hope: Tiny Startup CU Opts to Merge - cutoday.info](https://news.google.com/rss/articles/CBMihgFBVV95cUxNQUhnaFRYcnRfb0JvLXdpV0xHX2xRNklScmNwTHVhaVMtaTRXc1dSS3RCMHBoMVhUT3FwSGZRdHJreXhFams4YXRWOXlENm5zRTdoNV9Bckd0OGlrR2hvaWpWVXdVdjlLQ19HdWwwazY4YjRVY3RLV21VMHBIWVRrY3dvakVLZw?oc=5) · cutoday.info
- 2020-04-03 [State taxes motivate Iowa credit union to switch charters - American Banker](https://news.google.com/rss/articles/CBMiqwFBVV95cUxPQkNRTGVKSG9hbXp2YWV2WWhWNldYWEVlVWRkSmR3bWNwX3ctOE5OakF0QjBDRm1CRU55bGZFcWJLTGNpWDBuS1g2eEdINS1JOHl4RlVRX0NtdF9aY25NMUpNcjNxMUJxV2pzQVUwemcxOWFZRkt1N3QwSnJhTTA4cUQ5TF9QaVlxNHg4SWdUaWZrWTRPdzZHR2NtWWlROUIzc0dZVmZXbHNrc1U?oc=5) · American Banker
- 2018-08-01 [SAC Federal Credit Union Changes Name to Cobalt Credit Union - PRWeb](https://news.google.com/rss/articles/CBMirgFBVV95cUxQcUloYWNqVUl6UE94ZXdWanZiYnpkWmdyWUJ1ejNXb0tfdmJxb1BWUExxeW9mYU96NzZCeE5fUDFjR1V2NnhBaXU0a2RLVGxSQzhpUEs4MHRpWC1FSUU4RVZ2YlB3aEVTQ3FYS0JLN3NnUzhPX19qc1IwTXBIbHpNUGFycGtsMnI5SDRBNS1WWURNWmNDVlA4Znd2OHFDelk1bmRTVVh2QTBXcEh5NXc?oc=5) · PRWeb
- 2020-07-28 [And the Average Pay for CEOs at Large, State-Chartered CUs Was… - cutoday.info](https://news.google.com/rss/articles/CBMinwFBVV95cUxNRTNOcEZtVHJmcHFrcGJFODRUTmplU0s4U282M083RkZrUE1jbHpid1RMWUFlcHMxbTljNVFFUVFTUU9ocXY3c0RkSzd5Wl94azQtSGpPcHNQYzAxX1hXTUVKQmI5dE5Ld0hsQTFQM2tqWVo1MTdueEhBcEpvYlktenlDRFJpbTV6eDNtamhlMTEwTURVUXJZbzNrSmk3OW8?oc=5) · cutoday.info
- 2020-10-22 [CEO of Cobalt Credit Union set to call it a career - American Banker](https://news.google.com/rss/articles/CBMioAFBVV95cUxQTHdua2xxVHJEbE03RmZNSGpyWHNNVDFKdnhDcmZhZHQyT093OWQxc1ZGUWlVMXRfRXlZc0lkOGN6Qy1ERWxNTTktdmJwZ2xhOTlvVmplUXFIUG1GVWtyb0NwUkRreHl0NEpmc2E5anAzd0NHQ09kci14UHI4V0ZrQUluSUlyanBKZWV4M05PMlBvdU9DX2syb2cxX2o5S1Fz?oc=5) · American Banker

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=68695 (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/23.json (key "68695", 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=68695
- 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.

---
Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide