# FIRST FLIGHT
CARY, NC · NCUA charter 7870 · asset band $200-500M · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/first-flight-7870

Who the members are: federal charter, multiple common bond, organized 1952, low-income designated. 20,560 members of 1,308,514 potential (1.6% of the field); checking penetration 57% (share draft accounts per 100 members); loans per 100 members 45.

**Verdict on the desk:** this could be *participation buyer*. 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 | $278.1M |
| Members | 20,560 (4.5% YoY) |
| Full-time staff | 60 |
| Net worth | $30.8M |
| Net worth ratio | 11.1% (p49 of band) |
| ROA (annualized) | 0.30% (p22 of band) |
| Total delinquency | 0.82% (p69 of band) |
| Net charge-offs (annualized) | 1.36% (p96 of band) |
| Loans / shares | 68% (p37 of band) |
| Cash / assets | 17.6% |
| Borrowings / assets | 0.00% |
| Net interest margin | 4.11% (p83 of band) |
| Operating expense / assets | 4.38% (p79 of band) |
| Vehicles % of loans | 42% (p67 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 10% |
| Third-party paper % of net worth | 68% (p47 of band) |
| Vehicle delinquency | 0.65% (p56 of band) |
| Vehicle NCO | 1.93% (p89 of band) |
| Repossessed % of vehicle book | 0.16% (p81 of band) |
| Real estate % of loans | 24% |
| Credit cards % of loans | 0% |
| Unsecured % of loans | 5% |
| Commercial % of net worth | 24% |
| Core shares % of member funds | 49% |
| Certificates % of member funds | 25% |
| Average share balance | $6,183 |
| Participations bought / yr | $1.2M |
| Participations sold / yr | $0 |
| Participations outstanding | $20.3M |
| Loans outstanding per 100 members | 45% |
| Loans granted per 100 members, annualized | 8% |
| Average loan balance | $18,023 |
| Loans granted, annualized | $65.0M |

## Participation posture (from the same filings)

Bought $1.2M and sold $0 in the latest annualized quarter; $20.3M outstanding purchased (66.0% of net worth), $0 sold and retained. Sold in 3 and bought in 8 of the last 8 quarters. Shares 10.6% year over year.

## Flags firing in the latest filing

- **net worth falling** (`cap_falling`)
- **delinquency rising** (`aq_dq_rising`)
- **charge-offs p90** (`aq_nco_high`)

## Warning timeline

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

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

- 2026-07-08 [First Flight Credit Union breaks ground on new Greenville branch - WITN](https://news.google.com/rss/articles/CBMimgFBVV95cUxOT0JyMmFoblVIMXpvcWZaZklVZ2laSzdKY1hXXzBNVUpnemkxWVUxOTQxOWJ4MW1iY0F5dFcwcUxMMkJPVEtlQ3BvcVRnWHZsdmtGU0NCekt0dGRhNUROR1Z3UzA0VFkyTjFwbHlTTXUyOUVIZkNfa1k0ckZuTnFjNWRQel9tWGNVNlA3OTk4ZDB2STVXaHhocjJR?oc=5) · WITN
- 2026-07-08 [First Flight Credit Union breaks ground in Greenville - WNCT](https://news.google.com/rss/articles/CBMihwFBVV95cUxOVFEtR1NjakJVdXFPajBYbXhlSE0tMnhHTi1BeU1JNFFZdjkxa2tVSDJienJBQkthVUNHbEVvWVotTklTckZVVC12U0dKSmU4MmdONmpTVkJtV1pIZTgtR1lYTHVfV2h6U0dqMGlSZzhYbkxWZ0M5TklOcDE5bk9GYWhZSVJ5RjjSAYwBQVVfeXFMTXhWNnd2Z20xMDRrc3hUTGxKNTlrem4yMDZsazdHZnZmRGs2ZFd1ZkU2Q2xaN0F1eHFxYkt6UFFZWkwxNkN3am9TaDlUTVNvdl9FV18xbHJBazhMbGJuSm1QOS1ZaTduT3J5cGRsRXF4bmQzemtfa0lYM01wa3J2dVR0X2NYMVdNemxDNWY?oc=5) · WNCT
- 2026-07-08 [First Flight Credit Union breaks ground in Greenville - WNCT](https://news.google.com/rss/articles/CBMilAFBVV95cUxNOHhFMW5sU2NPNzRqb1BkYnRyQ3pRb1NPY3hyUGpvZV9OMEliOXpzV3N0Y0lERkFsN1FrbkZZdUlwRVZnT1Vid0ZZYjItNHIyWFdoYi1wSXdWWFoyZHpCWFhiYjhlTkw1VTlpMTNmZmhTVXZ6LVBOdjA0dzVNdWtpVzU2TXkzVWhmdmVtRFN1YlBXNkFp?oc=5) · WNCT
- 2025-03-10 [Women in top positions at Triangle credit union drive company forward - The Business Journals](https://news.google.com/rss/articles/CBMiqAFBVV95cUxPc2xsQW9sYzA4My1RVFN1R1VobTZBTlRCc0VSaEZjQ2k5TlNYRkJtWEdMeHJSY0pvaE0taXhGZVVkWWhFTWJDd0pUMUpSLU0zUUdFWXBCeHVvRXNuYXBZZlJXdjFwd25oNEU0cVhKSFNVWFVsX0VKUlBKazJUYWxnOFpfUjlNeUFPZ0pBd2JibFNucFdpLU9nWGZtaWRXcDVHUFRGVlhfVkI?oc=5) · The Business Journals
- 2020-09-18 [NBPD: Man arrested for bank robbery - WCTI](https://news.google.com/rss/articles/CBMigAFBVV95cUxNVk5iRkh0ZFhFSDJ6N2Rib0trQ3NqeEtLU0RSRzhQb2h3YTVSbGZCcWh0TkNNNzFYaEJFSVFNdDF4ZXBzYmJjMUVFaWpJZ290M09JQ0E3S0VqaVBYTzJiUmZ0NUMxQ0Uwb0dIMU51czl2bjFWOWwtRC1tM01GU2Ryaw?oc=5) · WCTI
- 2025-12-04 [Alma Lee Hill Obituary December 4, 2025 - Munden Funeral Home](https://news.google.com/rss/articles/CBMiZEFVX3lxTE1lcTdkV25ob1EtdXJLMU5EOXg5NWVyRm1Cb3dTM0J4ZXhFR3NuZi1lN1Q5R0ZGWXNDODZXaTdHNTYtV3UxUUJrZXI2WDEwLU43eEU0dWxJNXF1bjJ5QkQ3LTZ0ZTY?oc=5) · Munden Funeral Home
- 2026-03-03 [Rennie Killingsworth Obituary - New Bern, NC - Dignity Memorial](https://news.google.com/rss/articles/CBMijAFBVV95cUxPbVd2ZFRuMUxPaHhVVFRTUkJIMDI2UGdsWmF3QlA1ZXBLcHExVHJTTlJXOTFlNDdnYU5PNXZfZ29raGp5ZDFwUE1QaDVaS1ZJSWU5dVp0NGxnRGl0MlFCV21ZZkk4eUxEcG5mXzAydUFaX3p3TUhNam0zUWRXTV9PTXBfYTRMLVE0RnBKOQ?oc=5) · Dignity Memorial
- 2025-03-14 [Liz Queen - The Business Journals](https://news.google.com/rss/articles/CBMipgFBVV95cUxPVHI0eFEyS3ByM0ZETlJEcGpqdTFmOE1hRFBENV9aQ2dLR0tXbzlrYzdvSHlOMkNaUFY3MnhaWXRfS0FURTVtUDhnRWlEeXhIQV9QWnZ2SHhOOE1adnZtUFZVU1hvQzNlN1U2bzUzeF9mS29TQllfMHUwRDdRSUFweU5RTWxuWHR2UnREbVN4LU1DZEhVZW1XUGZEOXV4NVhSVFlDc3VR?oc=5) · The Business Journals

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=7870 (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/62.json (key "7870", 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=7870
- 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