# MARKET USA
LAUREL, MD · NCUA charter 9003 · asset band $100-200M · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/market-usa-9003

Who the members are: federal charter, multiple common bond, organized 1953, low-income designated. 17,055 members of 383,046 potential (4.5% of the field); checking penetration 47% (share draft accounts per 100 members); loans per 100 members 65.

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

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $141.4M |
| Members | 17,055 (-14.4% YoY) |
| Full-time staff | 39 |
| Net worth | $26.7M |
| Net worth ratio | 18.9% (p94 of band) |
| ROA (annualized) | 0.80% (p56 of band) |
| Total delinquency | 1.64% (p89 of band) |
| Net charge-offs (annualized) | 1.97% (p98 of band) |
| Loans / shares | 77% (p65 of band) |
| Cash / assets | 33.2% |
| Borrowings / assets | 0.00% |
| Net interest margin | 4.99% (p96 of band) |
| Operating expense / assets | 5.45% (p92 of band) |
| Vehicles % of loans | 61% (p85 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 69% |
| Third-party paper % of net worth | 137% (p76 of band) |
| Vehicle delinquency | 1.72% (p87 of band) |
| Vehicle NCO | 2.02% (p91 of band) |
| Repossessed % of vehicle book | 0.77% (p97 of band) |
| Real estate % of loans | 19% |
| Credit cards % of loans | 7% |
| Unsecured % of loans | 13% |
| Commercial % of net worth | 22% |
| Core shares % of member funds | 68% |
| Certificates % of member funds | 23% |
| Average share balance | $3,946 |
| Participations bought / yr | $3.0M |
| Participations sold / yr | $0 |
| Participations outstanding | $5.8M |
| Loans outstanding per 100 members | 65% |
| Loans granted per 100 members, annualized | 18% |
| Average loan balance | $7,838 |
| Loans granted, annualized | $26.6M |

## Participation posture (from the same filings)

Bought $3.0M and sold $0 in the latest annualized quarter; $5.8M outstanding purchased (21.6% of net worth), $0 sold and retained. Sold in 0 and bought in 3 of the last 8 quarters. Shares 0.8% year over year.

## Flags firing in the latest filing

- **expense trap** (`earn_opex`)
- **delinquency 2x band** (`aq_dq_high`)
- **charge-offs p90** (`aq_nco_high`)
- **repo signal** (`aq_repo`)
- **members leaving** (`shrink_members`)
- **3rd-party paper>100% NW** (`str_thirdparty`)
- **auto monoline** (`str_vehicle`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 2 | expense trap, delinquency 2x band |  |
| 2016-06 | 1 |  | delinquency 2x band |
| 2016-09 | 1 |  |  |
| 2016-12 | 1 |  |  |
| 2017-03 | 1 |  |  |
| 2017-06 | 3 | net worth falling, delinquency 2x band |  |
| 2017-09 | 2 |  | net worth falling |
| 2017-12 | 1 |  | delinquency 2x band |
| 2018-03 | 3 | delinquency 2x band, 3rd-party paper>100% NW |  |
| 2018-06 | 5 | net worth falling, charge-offs p90, auto monoline | delinquency 2x band |
| 2018-09 | 6 | delinquency 2x band, loans>95% of shares | net worth falling |
| 2018-12 | 5 |  | loans>95% of shares |
| 2019-03 | 4 |  | charge-offs p90 |
| 2019-06 | 5 | charge-offs p90 |  |
| 2019-09 | 6 | loans>95% of shares |  |
| 2019-12 | 6 | assets shrinking | loans>95% of shares |
| 2020-03 | 7 | net worth falling, margin squeeze | assets shrinking |
| 2020-06 | 7 |  |  |
| 2020-09 | 6 |  | net worth falling |
| 2020-12 | 6 |  |  |
| 2021-03 | 6 | net worth falling | delinquency 2x band |
| 2021-06 | 6 | delinquency 2x band, members leaving | margin squeeze, net worth falling |
| 2021-09 | 5 |  | members leaving |
| 2021-12 | 5 |  |  |
| 2022-03 | 4 |  | delinquency 2x band |
| 2022-06 | 5 | delinquency 2x band |  |
| 2022-09 | 5 |  |  |
| 2022-12 | 6 | loans>95% of shares |  |
| 2023-03 | 5 |  | delinquency 2x band |
| 2023-06 | 6 | delinquency 2x band |  |
| 2023-09 | 6 |  |  |
| 2023-12 | 7 | delinquency rising |  |
| 2024-03 | 9 | net worth falling, losing money |  |
| 2024-06 | 9 | repo signal | loans>95% of shares |
| 2024-09 | 8 | loans>95% of shares | net worth falling, repo signal |
| 2024-12 | 7 | repo signal | delinquency rising, loans>95% of shares |
| 2025-03 | 8 | net worth falling, loan book shrinking | losing money |
| 2025-06 | 7 |  | net worth falling |
| 2025-09 | 7 |  |  |
| 2025-12 | 8 | members leaving |  |
| 2026-03 | 7 |  | loan book shrinking |

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

- 2022-03-22 [MD|DC Credit Union Association names Market USA’s Edwards as the 2021 Emerging Leader Award winner - CUInsight](https://news.google.com/rss/articles/CBMi0wFBVV95cUxQc2RXZld4ZDYtaFRFdlhRZ2tJRW1fOTNXcjlSWlZtNEY1T0QxZ3Nhc0pnX011TnpfdXk3clhPemZCY2dWWmRXVzBxVFJLUk1VV0Z3UkRWdEU1bDd5VnMwM0VaYUNraUJmS2tsRi1LY0FPYU50amlYQkhpbHBBUjBFcWpkaHJsSGdUa2Fmb2luanotTjJxUEQ0WUhFX1E0dG85TU9VLXdYMnl6U3ZmVGNHc2xKd2hQS2FtZzVlMndFWXBfZ1R1N3BpcmNLSWJFS3BLakhj?oc=5) · CUInsight
- 2023-11-14 [40 Under 40: Gregg Edwards, Market USA Federal Credit Union - The Business Journals](https://news.google.com/rss/articles/CBMipwFBVV95cUxPaXBUMEhXZ1lfbTRPNDRFbzZrbEg0SVIwRmktYmtCYzVJWE1MWGR4c2sxR0RiM0FGYlJDRlphTkFGRWFjbDNjVHpqblRtaGpMblJ1N183T0hnaDcwcEU4aER2UjJWUXBxWFA4NldlU2Y3NXFkOWxiMmRKeXkycUF3YTFmcm9Fa2FYOVRXMXVDZVFVSGxZQmZ3dnJ2NVVCN2g5ZzJRMFBBbw?oc=5) · The Business Journals
- 2025-12-08 [Marquis Software Solutions Under Investigation for Data Breach of Over 780,000 Financial Records - Schubert Jonckheer & Kolbe](https://news.google.com/rss/articles/CBMickFVX3lxTE1vZVQ4bU5jSFVZOGJmZmVqbDJWLXBOcHcxWUZISVE3djVZZVM4ZHFaRTdFTk9vMGptMU5fY2NjMmNRRlRSX1BHVEJ6VjdDeHlSNEZIeTNYU2VoYVRaaDZqT2otMUJvaEROYWx3OWdlQmdIZw?oc=5) · Schubert Jonckheer & Kolbe
- 2019-01-25 [Credit unions, banks offer shutdown assistance to federal workers - wtop.com](https://news.google.com/rss/articles/CBMiqAFBVV95cUxOUmdNeEFaVmpucHhDZ1RoTmVEZ0lvYi1OUXFkWFZZUFY0Y21uU3gwYy11aGdxVVhVRkdQUzBNWW5YWnpTU0FYTi0tTFBnT1hxbkNiVHlpbG1BaHZ1UC05S0Q2eG85LWxHTWxReGhBczlDdTVieWI0ZEl1UXJLMGFlM01QVWhnYjZsSjRWX1FhMVkzR0dKQXBfN0tLOHNVQU90dVB1QjFDY1g?oc=5) · wtop.com
- 2022-11-10 [Second Chance Checking Accounts By State - Lee News Central](https://news.google.com/rss/articles/CBMisAFBVV95cUxNOW82MnUyWmVEZUJGbTJMUkhhOTI3eDFWLUxEZnIteV9BVmlnRTZLYzZJY29TeWRKZ0p4NHhBbVUzejVscnRWTG5BcW5Pc2tVQU9fMG04RFpLMGNMT05UaTlMTTRWVlB6Y1NRNkt6dTk0cWU4dVB0VWZHWC1MY0tBanRsWjZlNjJ2RGhrM21kd3M4ek5DLXgwZzg5YWVzUkRzeUpZMExhUjRCWER5MnFWOA?oc=5) · Lee News Central
- 2025-12-03 [Marquis data breach impacts over 74 US banks, credit unions - BleepingComputer](https://news.google.com/rss/articles/CBMiqgFBVV95cUxNN25wV2ZwYk9ESjhEMGdsY1N4dXdSV2FBTUo2R21EX0JoODBvWlhTcVJ3TmtDdW5veDVucFZwS0V2M0Z5VGJsLVQ3MDJWQUpISFgtb1p6aWI0ZnE2MVdjTU8xXzZuclIwQ3ZGRVBCYl9jWXJjeURoNW9UM2hHay1uOElZSENqalFVWndUYV9xUjRnQ284QkpDSnJZNENHOHRfMnhDSnlSbXRzQdIBrwFBVV95cUxPNWZVaVhpYWZHQmVuT1ZWMUt1eTN6VjE1YnE5VC1wWWo0UE4xUG1BSmduNnBZckhtZE5ZTUFkQjdXa3dQS21JMHlIc015cEhsdkVfRzRsSU9YN3owcWFOcWNQQWJTcmxLcjJlYnRUYkd5UFBVclVVODdhVGQ0RTZVZjJDZlpiUWNQWjllcDBVcFQ0WW9qQ1dNNVY2TDNDeS11cU0xN2lNNHdnSG5mckE0?oc=5) · BleepingComputer
- 2019-09-18 [Best CD Rates for September 2026: Lock in 5.00% APY Before It’s Too Late - Investopedia](https://news.google.com/rss/articles/CBMiX0FVX3lxTE1NdzdodnV0OG95NFJFeVlmWHRrNE45WmtaTldicWhEV1psQWg3LWhSaHdlMGV3Y0lkZnlFZDlMX0lWcFRDb2tEblAtLVM1Sm9DRWtqWUhOTFpWRHRSY1o0?oc=5) · Investopedia
- 2020-02-29 [Best 1-Year CD Rates for September 2026: 4.36% APY Still Available - Investopedia](https://news.google.com/rss/articles/CBMiaEFVX3lxTFBWdHhPbWJzNDJGd2pXNGZ2Y0wwSWlibkFqU1BJV21xNk04a1RKdlNFUXdCa3gzUGVoUlJHaWo4ZXdjeUxVdGpGSC1tcXo4VHNkekVuSDd5LTZOMHJIdG1QY0FxWjdqXzBa?oc=5) · Investopedia

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=9003 (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/43.json (key "9003", 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=9003
- 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