RED CANOE

Charter #68196 | WA

1B-3B (304 CUs) Mid-Market (380 CUs)
9 1B-3B in WA

RED CANOE has 7 strengths but faces 6 concerns

Key Strengths

Areas where this CU excels compared to peers

  • + Relationship Depth Leader: Top 12.0% in tier
  • + Emerging Performer: Top 12.8% in tier
  • + Wallet Share Momentum: Top 19.7% in tier
  • + Organic Growth Engine: Top 23.8% in tier
  • + Organic Growth Leader: Top 34.4% in tier
  • + ROA 0.31% above tier average
  • + Net Interest Margin 0.68% above tier average

Key Concerns

Areas that may need attention

  • - Growth-at-Risk: Bottom 9.2% in tier
  • - Credit Quality Pressure: Bottom 14.4% in tier
  • - Liquidity Strain: Bottom 22.9% in tier
  • - Indirect Auto Dependency: Bottom 30.2% in tier
  • - Liquidity Overhang: Bottom 31.5% in tier
  • - Members Per Employee (MPE): Bottom 4.9% in tier

Core Metrics

As of 2025-Q3

Metric Current vs Tier Tier Avg State Avg (WA) National Avg Tier Percentile
Members 59,797
+0.5% YoY+0.7% QoQ
 -38.9K 98,678
-1.9% YoY
 65,720
+2.5% YoY
 33,089
+6.1% YoY
 Bottom 13.8% in tier
Assets $1.2B
+1.8% YoY+0.6% QoQ
 $-556.3M $1.7B
+0.5% YoY
 $1.2B
+3.7% YoY
 $547.7M
+7.8% YoY
 Bottom 19.4% in tier
Loans $928.1M
+9.1% YoY+1.2% QoQ
 $-305.0M $1.2B
+0.5% YoY
 $909.1M
+5.1% YoY
 $388.7M
+8.6% YoY
 30th in tier
Deposits $1.0B
+0.8% YoY+0.6% QoQ
 $-452.5M $1.5B
+1.3% YoY
 $1.0B
+6.5% YoY
 $464.6M
+9.3% YoY
 Bottom 18.8% in tier
ROA 1.0%
+88.6% YoY+7.9% QoQ
 +0.3% 0.7%
+13.4% YoY
 0.6%
+9.9% YoY
 0.7%
+273.4% YoY
 Top 22.7% in tier
NIM 3.9%
+20.8% YoY+1.3% QoQ
 +0.7% 3.3%
+9.3% YoY
 3.7%
+4.7% YoY
 3.7%
+5.0% YoY
 Top 13.5% in tier
Efficiency Ratio 73.3%
-9.4% YoY-0.5% QoQ
 -0.7% 74.0%
-10.9% YoY
 76.4%
-1.1% YoY
 79.1%
-3.3% YoY
 42nd in tier
Delinquency Rate 0.6%
+27.9% YoY+21.9% QoQ
 -0.2 0.8%
+6.1% YoY
 0.9%
-2.6% YoY
 1.2%
-0.9% YoY
 38th in tier
Loan To Share 92.6%
+8.2% YoY+0.6% QoQ
 +7.4% 85.2%
-0.8% YoY
 76.9%
-2.2% YoY
 68.0%
-1.7% YoY
 65th in tier
AMR $32,275
+4.1% YoY+0.2% QoQ
 +$3K $29,172
+2.8% YoY
 $28,761
+2.7% YoY
 $19,418
+1.3% YoY
 74th in tier
CD Concentration 26.9%
+2.4% YoY+2.6% QoQ
 -2.1% 29.0%
+0.8% YoY
 22.3%
+2.5% YoY
 19.6%
+6.2% YoY
 42nd in tier
Indirect Auto % 15.7%
-5.9% YoY-1.7% QoQ
 -3.1% 18.8%
-2.8% YoY
 17.1%
-8.4% YoY
 7.9%
-2.9% YoY
 48th in tier

Signature Analysis

Strengths (5)

Relationship Depth Leader

growth
#88 of 264 • Top 12.0% in tier

Average member relationship growing year-over-year. Increasing engagement suggests members are consolidating more business here.

Why This Signature
AMR Growth (YoY): 4.06%
(Tier: 3.04%, National: 4.19%)
better than tier avg
Share Draft per Member: $3.6K
(Tier: $3.1K, National: $2.0K)
better than tier avg
264 of 380 Mid-Market CUs have this signature | 1330 nationally
↑ Growing +60 CUs YoY | Rank worsening

Emerging Performer

growth
#69 of 184 • Top 12.8% in tier

Profitable credit union with positive returns. May represent growth potential worth exploring.

Why This Signature
Return on Assets: 1.01%
(Tier: 0.71%, National: 0.71%)
better than tier avg
Member Growth (YoY): 0.55%
(Tier: 3.18%, National: 9.37%)
but worse than tier avg
184 of 380 Mid-Market CUs have this signature | 852 nationally
↑ Growing +18 CUs YoY | Rank improving

Wallet Share Momentum

growth
#143 of 264 • Top 19.7% in tier

Average member relationship growing year-over-year. Members are deepening their engagement.

Why This Signature
AMR Growth (YoY): 4.06%
(Tier: 3.04%, National: 4.19%)
better than tier avg
264 of 380 Mid-Market CUs have this signature | 1330 nationally
↑ Growing +60 CUs YoY

Organic Growth Engine

growth
#173 of 246 • Top 23.8% in tier

Growing membership while maintaining profitability. Healthy fundamentals in place.

Why This Signature
Member Growth (YoY): 0.55%
(Tier: 3.18%, National: 9.37%)
but worse than tier avg
Return on Assets: 1.01%
(Tier: 0.71%, National: 0.71%)
better than tier avg
Indirect Auto %: 15.66%
(Tier: 18.80%, National: 7.90%)
better than tier avg
246 of 380 Mid-Market CUs have this signature | 917 nationally
↑ Growing +14 CUs YoY | New qualifier

Organic Growth Leader

growth
#136 of 138 • Top 34.4% in tier

Attracting members without relying on indirect channels. Healthy, sustainable growth model.

Why This Signature
Member Growth (YoY): 0.55%
(Tier: 3.18%, National: 9.37%)
but worse than tier avg
138 of 380 Mid-Market CUs have this signature | 608 nationally
↑ Growing +11 CUs YoY | New qualifier

Concerns (5)

Growth-at-Risk

risk
#52 of 161 • Bottom 9.2% in tier

Loan portfolio growing while delinquencies are rising. Expansion with deteriorating credit quality needs attention.

Why This Signature
Loan Growth (YoY): 9.07%
(Tier: 6.14%, National: 36.38%)
but better than tier avg
Delinquency Change (YoY): 0.13% points
(Tier: 0.07% points, National: 0.07% points)
worse than tier avg
161 of 380 Mid-Market CUs have this signature | 646 nationally
↓ Shrinking -30 CUs YoY | New qualifier

Credit Quality Pressure

risk
#111 of 217 • Bottom 14.4% in tier

Delinquencies are rising year-over-year. Credit risk is building - they may need better underwriting tools.

Why This Signature
Delinquency Change (YoY): 0.13% points
(Tier: 0.07% points, National: 0.07% points)
worse than tier avg
217 of 380 Mid-Market CUs have this signature | 1002 nationally
↓ Shrinking -70 CUs YoY | New qualifier

Liquidity Strain

risk
#121 of 183 • Bottom 22.9% in tier

Loan demand outpacing deposits. They're bumping against liquidity limits - need funding solutions.

Why This Signature
Loan-to-Share Ratio: 92.64%
(Tier: 86.35%, National: 67.96%)
but better than tier avg
Loan Growth (YoY): 9.07%
(Tier: 6.14%, National: 36.38%)
but better than tier avg
183 of 380 Mid-Market CUs have this signature | 484 nationally
↑ Growing +10 CUs YoY | New qualifier

Indirect Auto Dependency

risk
#187 of 202 • Bottom 30.2% in tier

Significant portion of loan portfolio in indirect auto (>15%). This concentration creates dependency on dealer relationships.

Why This Signature
Asset Growth (YoY): 1.83%
(Tier: 5.36%, National: 3.04%)
worse than tier avg
Indirect Auto %: 15.66%
(Tier: 18.80%, National: 7.90%)
but better than tier avg
Member Growth (YoY): 0.55%
(Tier: 3.18%, National: 9.37%)
worse than tier avg
202 of 380 Mid-Market CUs have this signature | 768 nationally
↓ Shrinking -7 CUs YoY

Liquidity Overhang

risk
#102 of 113 • Bottom 31.5% in tier

Very high net worth ratio (>12%). Strong capital position may indicate opportunity to deploy capital more productively.

Why This Signature
Net Worth Ratio: 12.28%
(Tier: 11.30%, National: 14.51%)
but better than tier avg
Loan-to-Share Ratio: 92.64%
(Tier: 86.35%, National: 67.96%)
but better than tier avg
113 of 380 Mid-Market CUs have this signature | 691 nationally
↑ Growing +9 CUs YoY | New qualifier

Metric Rankings

See how this credit union ranks across all tracked metrics compared to peers.

Strengths: Metrics in the top 25% (75th percentile or higher) | Concerns: Metrics in the bottom 25% (25th percentile or lower)

Comparing against 304 peers in tier

Top Strengths (3 metrics)

41
Net Interest Margin (NIM)
profitability
Value: 3.94%
Peer Avg: 3.26%
#41 of 304 Top 13.2% in 1B-3B tier
64
Loan-to-Member Ratio (LMR)
engagement
Value: $15,521
Peer Avg: $13,213
#64 of 304 Top 20.7% in 1B-3B tier
69
Return on Assets (ROA)
profitability
Value: 1.01%
Peer Avg: 0.70%
#69 of 304 Top 22.4% in 1B-3B tier

Top Weaknesses (5 metrics)

290
Members Per Employee (MPE)
engagement
Value: 249.154
Peer Avg: 364.953
#290 of 304 Bottom 4.9% in 1B-3B tier
262
Total Members
engagement
Value: 59,797
Peer Avg: 98,678
#262 of 304 Bottom 14.1% in 1B-3B tier
249
Deposit Growth Rate
growth
Value: 0.83%
Peer Avg: 5.58%
#249 of 304 Bottom 18.4% in 1B-3B tier
247
Total Deposits
balance_sheet
Value: $1.00B
Peer Avg: $1.45B
#247 of 304 Bottom 19.1% in 1B-3B tier
245
Total Assets
balance_sheet
Value: $1.16B
Peer Avg: $1.72B
#245 of 304 Bottom 19.7% in 1B-3B tier