# INNOVATIONS
PANAMA CITY, FL · NCUA charter 7783 · asset band $200-500M · latest filing 2022-06 · stopped filing after 2022-06 (departed; for a credit union that is almost always a merger)
Share link (named URL with a preview card): https://getbookiq.com/cu/innovations-7783

Who the members are: federal charter, community charter, organized 1952, low-income designated. 22,450 members of 141,901 potential (15.8% of the field); checking penetration 82% (share draft accounts per 100 members); loans per 100 members 62.

**Verdict on the desk:** this could be *ordinary*. Composite score 1 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $366.4M |
| Members | 22,450 (3.8% YoY) |
| Full-time staff | 72 |
| Net worth | $31.2M |
| Net worth ratio | 8.5% (p27 of band) |
| ROA (annualized) | 1.25% (p92 of band) |
| Total delinquency | 0.17% (p25 of band) |
| Net charge-offs (annualized) | 0.00% (p8 of band) |
| Loans / shares | 86% (p83 of band) |
| Cash / assets | 16.3% |
| Borrowings / assets | 0.00% |
| Net interest margin | 3.37% (p90 of band) |
| Operating expense / assets | 3.96% (p86 of band) |
| Vehicles % of loans | 28% (p33 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 8% |
| Third-party paper % of net worth | 19% (p34 of band) |
| Vehicle delinquency | 0.35% (p55 of band) |
| Vehicle NCO | 0.28% (p64 of band) |
| Repossessed % of vehicle book | 0.19% (p94 of band) |
| Real estate % of loans | 38% |
| Credit cards % of loans | 4% |
| Unsecured % of loans | 6% |
| Commercial % of net worth | 179% |
| Core shares % of member funds | 81% |
| Certificates % of member funds | 6% |
| Average share balance | $7,157 |
| Participations bought / yr | $9.6M |
| Participations sold / yr | $3.0M |
| Participations outstanding | – |
| Loans outstanding per 100 members | 62% |
| Loans granted per 100 members, annualized | 29% |
| Average loan balance | $20,111 |
| Loans granted, annualized | $215.6M |

## Flags firing in the latest filing

- **thin capital** (`cap_low`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 4 | thin capital, expense trap, charge-offs p90, repo signal |  |
| 2016-06 | 3 |  | charge-offs p90 |
| 2016-09 | 3 |  |  |
| 2016-12 | 3 |  |  |
| 2017-03 | 3 |  |  |
| 2017-06 | 3 |  |  |
| 2017-09 | 3 |  |  |
| 2017-12 | 3 |  |  |
| 2018-03 | 3 |  |  |
| 2018-06 | 3 |  |  |
| 2018-09 | 1 |  | thin capital, repo signal |
| 2018-12 | 3 | thin capital, margin squeeze, repo signal | expense trap |
| 2019-03 | 1 |  | margin squeeze, repo signal |
| 2019-06 | 1 |  |  |
| 2019-09 | 1 |  |  |
| 2019-12 | 1 | assets shrinking | thin capital |
| 2020-03 | 1 |  |  |
| 2020-06 | 1 | thin capital | assets shrinking |
| 2020-09 | 3 | expense trap, delinquency rising |  |
| 2020-12 | 3 | margin squeeze | expense trap |
| 2021-03 | 4 | net worth falling, expense trap | delinquency rising |
| 2021-06 | 2 |  | margin squeeze, net worth falling |
| 2021-09 | 1 |  | expense trap |
| 2021-12 | 1 |  |  |
| 2022-03 | 1 |  |  |
| 2022-06 | 1 |  |  |

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

- 2026-06-26 [Innovations Financial CU Promotes McLane, Smiley to Director Roles - cutoday.info](https://news.google.com/rss/articles/CBMisgFBVV95cUxPOU9yTkY3eXdvam1fb3RGcnRkSXBRVUpkb04xM0RjV0RfRHNWVDZKTnVqNThjN3l0LUptODJWQWVOcnk1S1hXMXJyTFhKWjVnY2Y4U0pDWmpYSGx3U21sSDFjVXJBV1JDMDl2RXRlcUNEVWZaOGItc2E0eUdUVm5XRXFFQjl4RmVzYTYxWXQ1UFlMdDV3a1hrSzVWbGV3MmowaGJPMHlaVGtKWUpxVGpteDFR?oc=5) · cutoday.info
- 2026-08-31 [Debra L. Sweat Obituary (2026) - Panama City, FL - Heritage Funeral Home & Cremation Services - Panama City - legacy.com](https://news.google.com/rss/articles/CBMif0FVX3lxTE1LdlFsdE4wQ2M3NGp2M0NMakJwaEFlYWtBcGx4NnNkcmFHbERPYzdCaEhZNlJFUG4wM0tZVjh3dW1jSTBudEFkdzRuX1RaakhyR0ZwMFMxbWZSQ0xDZkRCb04wbmRwSDJTMG1yeXBwUnU5bkdjMUduUHc1YWF4dTQ?oc=5) · legacy.com
- 2026-08-26 [American Banker Names the 2026 Best Credit Unions to Work For - Benzinga](https://news.google.com/rss/articles/CBMilwFBVV95cUxONmZJSVY2ejJ6NTBZQjJ1RnhnU2tTT21oaGJVUHJqWEJsUHdSN0t3TFVDYlhaM3dYdklZNnpRX05pSkM3NlhPMERDbU5mam5ETVlRbG5DUXU4YThsVDFqVWlLdkdxdVpIU2JoNTFnMlJ5VkdKcEJMTGpTY3RhZXBkb0RtS1JhcEJySTNCM1RpWFhsbzh5NVV3?oc=5) · Benzinga
- 2024-08-26 [Innovations Financial Credit Union ranks #4 nationally among Best Credit Unions to Work For in 2024 - CUInsight](https://news.google.com/rss/articles/CBMi1gFBVV95cUxONlQtbm02SUpIQzJOd0ZObkxqSGpHLTZtcks3OC1LdUwxTVNIMWRRcERKRHdZSTZKVDZaMVRsZmR5SXBHdUg0dW85Z19hS01ickFJclVVQzl1eXZiMUh4T1dxMm9Jb3Q0WDNTVlpZVFZSSXBlY3d6UllHSDRud0JpaW1GekVKTE1DeWZmOTY0RFUyeGo2dWwyQjBXal9oNVNSQjBpQVd4MXpISV9FRVotQUVQWnNHNE1GZ09tR1d0c0hBQUMwUnhNY3R1alBkanJkOGlqQ3pR?oc=5) · CUInsight
- 2023-08-31 [Florida credit union buys local bank in 8th such deal of 2023 - Banking Dive](https://news.google.com/rss/articles/CBMiygFBVV95cUxOR1pOajBqZnBuRmJzNERCN0tOSXJULV82a1h6eDcyaDk4WlVDY2xiV3pPOVYxRzRVQ2J1ZnotUmJqYkF1UHRSMElWOEQ1V2x6d1o2Q2JVV0N5MURSVzBxaHdMSmFMMVpiLTgyYWM1OWR0MzZpX0p5SFZXeHdWc0ZkREJ6bkcyMGFkQTR1OTc2bWstRnpJdGhESXpIYTBrdHc5THI3WVJlLXRRWGRYb2hxaEhQdWxrVGRuZVFpdjFXZVZORTQxSEFmZmJR?oc=5) · Banking Dive
- 2025-11-28 [MidFlorida Credit Union led the state in asset growth this year - The Business Journals](https://news.google.com/rss/articles/CBMimgFBVV95cUxNWnVOYl8yN2pjOG5SRVI4dlVvZWlZSXNzcy11MTVYY0VZOXFyb1RJeVV5TmY2RTctZ2R0NkFVLXNnSlN4bzhTcHJ1T1RycFZzNW96UkZJZ3dnbVVidXBwV2pJZUxxRzBrVGt1cmxiem9pa3FGMTBoVTAyVFhuTWRndzFObndJOVNmTXlmM3paaThRcENxODMwcW9B?oc=5) · The Business Journals
- 2025-11-21 [FSU announces 2026 Seminole 100 ahead of 9th annual celebration - Florida State University News](https://news.google.com/rss/articles/CBMiuAFBVV95cUxNN1ptbW5lRXQ5UVZDeEhNNE1vb2w5dklUX19BNnBLSGhKUE9YUkJoMTNmajdMWExlU1lXTUo4cW04R2RWSnJxUC1xbW1iVVZ3UmhQZFRuQzVQVFJ3cFNKWGxscDN5Ym83M0VMbEtLMmI0M2lhbGJteTA3ZmlFdlpCR08wYWhJZXNzN19SWUM5M2kySzZfUTg4a080TkQ1T0h5ZkZ1VVEzRjJHZXBFSWM0OWpsTWQwLTRH?oc=5) · Florida State University News
- 2025-11-14 [Salvation Army’s Angel Tree campaign kicks off in Bay County - mypanhandle.com](https://news.google.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?oc=5) · mypanhandle.com

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=7783 (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/39.json (key "7783", 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=7783
- 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