# OCEANAIR
Oxnard, CA · NCUA charter 7608 · asset band $500M-1B · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/oceanair-7608

Who the members are: federal charter, multiple common bond, organized 1952, low-income designated. 27,253 members of 5,107,611 potential (0.5% of the field); checking penetration 52% (share draft accounts per 100 members); loans per 100 members 49.

**Verdict on the desk:** this could be *liquidity-tight*. 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 | $870.8M |
| Members | 27,253 (-3.1% YoY) |
| Full-time staff | 126 |
| Net worth | $65.4M |
| Net worth ratio | 7.5% (p4 of band) |
| ROA (annualized) | 0.16% (p13 of band) |
| Total delinquency | 0.29% (p21 of band) |
| Net charge-offs (annualized) | 0.23% (p27 of band) |
| Loans / shares | 109% (p99 of band) |
| Cash / assets | 4.7% |
| Borrowings / assets | 14.19% |
| Net interest margin | 2.42% (p4 of band) |
| Operating expense / assets | 3.15% (p27 of band) |
| Vehicles % of loans | 4% (p1 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 22% |
| Third-party paper % of net worth | 10% (p21 of band) |
| Vehicle delinquency | 0.39% (p33 of band) |
| Vehicle NCO | 1.04% (p59 of band) |
| Repossessed % of vehicle book | 0.10% (p66 of band) |
| Real estate % of loans | 63% |
| Credit cards % of loans | 2% |
| Unsecured % of loans | 3% |
| Commercial % of net worth | 336% |
| Core shares % of member funds | 41% |
| Certificates % of member funds | 35% |
| Average share balance | $6,462 |
| Participations bought / yr | $0 |
| Participations sold / yr | $136.0M |
| Participations outstanding | $81.4M |
| Loans outstanding per 100 members | 49% |
| Loans granted per 100 members, annualized | 13% |
| Average loan balance | $55,266 |
| Loans granted, annualized | $247.4M |

## Participation posture (from the same filings)

Bought $0 and sold $136.0M in the latest annualized quarter; $81.4M outstanding purchased (124.3% of net worth), $46.7M sold and retained. Sold in 8 and bought in 1 of the last 8 quarters. Shares -2.0% year over year.

## Flags firing in the latest filing

- **thin capital** (`cap_low`)
- **members leaving** (`shrink_members`)
- **loans>95% of shares** (`str_ltos`)
- **leaning on borrowings** (`str_borrowings`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 1 | leaning on borrowings |  |
| 2016-06 | 1 | repo signal | leaning on borrowings |
| 2016-09 | 0 |  | repo signal |
| 2016-12 | 2 | repo signal, leaning on borrowings |  |
| 2017-03 | 3 | delinquency 2x band, delinquency rising | repo signal |
| 2017-06 | 3 | net worth falling | delinquency 2x band |
| 2017-09 | 2 |  | net worth falling |
| 2017-12 | 1 |  | delinquency rising |
| 2018-03 | 2 | delinquency 2x band, 3rd-party paper>100% NW | leaning on borrowings |
| 2018-06 | 4 | losing money, delinquency rising |  |
| 2018-09 | 7 | net worth falling, repo signal, leaning on borrowings |  |
| 2018-12 | 5 | assets shrinking | net worth falling, repo signal, leaning on borrowings |
| 2019-03 | 3 |  | losing money, delinquency rising |
| 2019-06 | 3 | charge-offs p90 | delinquency 2x band |
| 2019-09 | 3 |  |  |
| 2019-12 | 4 | net worth falling, leaning on borrowings | assets shrinking |
| 2020-03 | 6 | losing money, margin squeeze |  |
| 2020-06 | 5 | thin capital | charge-offs p90, losing money |
| 2020-09 | 6 | members leaving, loans>95% of shares | 3rd-party paper>100% NW |
| 2020-12 | 6 |  |  |
| 2021-03 | 5 |  | margin squeeze |
| 2021-06 | 4 |  | net worth falling |
| 2021-09 | 3 |  | members leaving |
| 2021-12 | 2 |  | thin capital |
| 2022-03 | 3 | thin capital |  |
| 2022-06 | 4 | net worth falling |  |
| 2022-09 | 4 |  |  |
| 2022-12 | 4 |  |  |
| 2023-03 | 5 | delinquency rising |  |
| 2023-06 | 5 |  |  |
| 2023-09 | 5 |  |  |
| 2023-12 | 4 |  | net worth falling |
| 2024-03 | 3 |  | delinquency rising |
| 2024-06 | 5 | net worth falling, delinquency rising |  |
| 2024-09 | 4 |  | delinquency rising |
| 2024-12 | 5 | delinquency rising, repo signal | net worth falling |
| 2025-03 | 4 | losing money | delinquency rising, repo signal |
| 2025-06 | 5 | delinquency rising |  |
| 2025-09 | 4 |  | delinquency rising |
| 2025-12 | 4 |  |  |
| 2026-03 | 4 | members leaving | losing money |

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

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## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=7608 (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/56.json (key "7608", 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=7608
- 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