Associated Credit Union Mortgage Rates, Fees & Info

Norcross, GA

LEI: 254900132A3VX6LLZU43

Tax ID: 58-0240950

4.7 stars - out of 5 stars, based on 36 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Associated Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Associated Credit Union has a high proportion of conventional loans. Their top markets include Atlanta, Gainesville, Augusta, Jefferson, and Cape Coral among others. Associated Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Associated Credit Union is typically an average fee lendor.


Originations

1,330

Origination Dollar Volume (All Markets)

$207,170,000

Awards

Associated Credit Union 30 Year Conventional Loans gold
Show all (1) awards

Relative Rate

Associated Credit Union's average 30 year fixed rate mortgage of loans were 3.11%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.04%.

Relative Fees

Associated Credit Union's average total fees for a 30 year fixed rate mortgage are $5,151.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1,103 $165,315,000 $149,878 $4,180 3.32%
Outside of Metro Areas 48 $10,260,000 $213,750 $4,984 2.96%
GAINESVILLE, GA (FHA|USDA|VA) 41 $7,725,000 $188,415 $4,477 3.35%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 59 $7,135,000 $120,932 $3,673 3.24%
Jefferson, GA (FHA|USDA|VA) 16 $2,350,000 $146,875 $4,091 3.61%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $1,510,000 $755,000 $12,658 2.75%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 2 $970,000 $485,000 $12,184 3.38%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $940,000 $470,000 $9,136 2.88%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $805,000 $805,000 $10,832 2.88%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 4 $680,000 $170,000 $3,670 3.28%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 2 $650,000 $325,000 $6,140 3.00%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 3 $595,000 $198,333 $3,738 2.67%
Georgetown, SC (FHA|USDA|VA) 1 $555,000 $555,000 $13,926 2.88%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 6 $520,000 $86,667 $4,263 4.08%
BRUNSWICK, GA (FHA|USDA|VA) 1 $485,000 $485,000 $6,621 4.25%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $485,000 $485,000 $9,174 3.00%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 3 $455,000 $151,667 $3,989 2.92%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $435,000 $435,000 $7,142 3.25%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $370,000 $185,000 $4,897 3.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $345,000 $345,000 $8,106 3.25%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 3 $335,000 $111,667 $3,478 3.13%
THE VILLAGES, FL (FHA|USDA|VA) 1 $305,000 $305,000 $8,479 3.38%
Fort Payne, AL (FHA|USDA|VA) 1 $305,000 $305,000 $4,308 2.63%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 2 $300,000 $150,000 $4,049 3.25%
Seneca, SC (FHA|USDA|VA) 1 $295,000 $295,000 $7,585 3.00%
COLUMBUS, GA-AL (FHA|USDA|VA) 2 $280,000 $140,000 $3,809 3.44%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $275,000 $275,000 $7,645 3.00%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 2 $260,000 $130,000 $4,878 2.81%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $205,000 $205,000 $5,192 2.75%
Cornelia, GA (FHA|USDA|VA) 1 $195,000 $195,000 $3,221 2.38%
Statesboro, GA (FHA|USDA|VA) 1 $195,000 $195,000 $3,277 2.25%
Calhoun, GA (FHA|USDA|VA) 1 $175,000 $175,000 $5,203 2.50%
Dublin, GA (FHA|USDA|VA) 1 $165,000 $165,000 $2,923 2.88%
JOHNSON CITY, TN (FHA|USDA|VA) 1 $165,000 $165,000 $5,879 2.88%
FLORENCE, SC (FHA|USDA|VA) 2 $160,000 $80,000 $2,391 3.19%
Albemarle, NC (FHA|USDA|VA) 1 $155,000 $155,000 $4,710 2.88%
VALDOSTA, GA (FHA|USDA|VA) 1 $125,000 $125,000 $3,618 2.25%
ALBANY, GA (FHA|USDA|VA) 1 $115,000 $115,000 $3,483 3.75%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $105,000 $105,000 $3,781 2.63%
Cedartown, GA (FHA|USDA|VA) 1 $105,000 $105,000 $2,962 3.25%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $105,000 $105,000 $1,825 2.75%
MONTGOMERY, AL (FHA|USDA|VA) 1 $75,000 $75,000 $3,135 4.25%
FAYETTEVILLE, NC (FHA|USDA|VA) 1 $65,000 $65,000 $2,436 2.50%
ANNISTON-OXFORD, AL (FHA|USDA|VA) 1 $65,000 $65,000 $2,851 4.25%
WARNER ROBINS, GA (FHA|USDA|VA) 1 $55,000 $55,000 $1,775 3.00%

Associated Credit Union's top markets include Atlanta, Gainesville, Augusta, Jefferson, and Cape Coral among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,330 $207,170,000 $155,767 $4,263 3.30%

For the 2021 period, Associated Credit Union's most frequently originated loan type of loans were Conventional, with 1,330 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 812 $141,940,000 $174,803 $4,014 2.84%
Home Improvement 315 $17,505,000 $55,571 $592 4.57%
Home Purchase 178 $46,290,000 $260,056 $5,625 3.02%
Other 25 $1,435,000 $57,400 $608 4.37%

For the 2021, Associated Credit Union's most frequently cited loan purpose of loans were Refi, with 812 originations. The 2nd most popular reason of loans were Home Improvement, with 315 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 458 $100,230,000 $218,843 $5,151 3.11%
15 Year 322 $54,190,000 $168,292 $3,547 2.65%
10 Year 240 $20,310,000 $84,625 $2,765 3.52%
5 Year 188 $9,680,000 $51,489 $592 4.92%
20 Year 84 $17,660,000 $210,238 $4,459 2.85%
Other 38 $5,100,000 $134,211 $2,658 2.76%

For the 2021, Associated Credit Union's most frequently cited loan length of loans were 30 Year, with 458 originations. The 2nd most popular length of loans were 15 Year, with 322 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 325 $43,805,000 $134,785
$2k-3k 183 $35,995,000 $196,694
$3k-4k 179 $46,725,000 $261,034
$<1k 164 $13,750,000 $83,841
$5k+ 126 $46,910,000 $372,302

$5,151 of loans were Associated Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 325 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 413 $90,145,000 $218,269
3-4% 386 $54,920,000 $142,280
<2.5% 310 $49,500,000 $159,677
4-5% 208 $11,940,000 $57,404
5-6% 12 $630,000 $52,500
6-7% 1 $35,000 $35,000

During 2021, Associated Credit Union's average interest rate of loans were 3.11%, while their most frequently originated rate bucket of loans were 2.5-3%, with 413 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 500 $27,890,000 $55,780 $2,106 3.89%
$100k-200k 484 $69,440,000 $143,471 $3,513 2.98%
$200k-400k 292 $77,430,000 $265,171 $5,884 2.89%
$400k-600k 37 $17,485,000 $472,568 $8,797 2.99%
$600k-1MM 13 $10,075,000 $775,000 $10,079 2.75%
$1MM+ 4 $4,850,000 $1,212,500 $16,180 2.97%

2021 saw Associated Credit Union place emphasis on $100,000 or less loans with 500 originations, totaling $27,890,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 311 $39,075,000 $125,643 $3,768 3.19%
$100k-150k 292 $51,000,000 $174,658 $4,740 3.29%
$75k-100k 266 $36,390,000 $136,805 $4,010 3.39%
$50k or less 214 $23,120,000 $108,037 $3,132 3.13%
$150k-250k 196 $41,320,000 $210,816 $5,820 3.51%
$250k+ 48 $15,880,000 $330,833 $6,975 3.48%

Associated Credit Union lent most frequently to those with incomes in the $50k-75k range, with 311 originations. The second most popular income band? $100k-150k, with 292 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 364 $55,930,000 $153,654 $3,973 3.25%
<20% 257 $31,785,000 $123,677 $3,533 3.53%
30-36% 253 $40,505,000 $160,099 $4,586 3.36%
41% 46 $7,530,000 $163,696 $4,936 3.23%
43% 44 $6,980,000 $158,636 $4,653 3.30%
42% 43 $6,565,000 $152,674 $4,532 3.38%
38% 42 $6,340,000 $150,952 $4,318 3.24%
40% 41 $6,365,000 $155,244 $5,442 3.47%
39% 37 $5,675,000 $153,378 $4,117 3.06%
44% 34 $7,060,000 $207,647 $4,576 3.05%
37% 33 $4,975,000 $150,758 $4,965 3.37%
36% 32 $3,940,000 $123,125 $3,504 3.16%
48% 24 $5,240,000 $218,333 $4,541 2.93%
49% 21 $4,355,000 $207,381 $4,551 2.85%
47% 19 $3,655,000 $192,368 $4,247 3.07%
46% 17 $4,155,000 $244,412 $4,583 3.00%
45% 13 $3,835,000 $295,000 $6,154 2.70%
50-60% 6 $1,690,000 $281,667 $5,617 3.10%
>60% 3 $465,000 $155,000 $3,270 3.29%

Associated Credit Union lent most frequently to those with DTI ratios of 20-30%, with 364 originations. The next most common DTI ratio? <20%, with 257 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 621 $103,385,000 $166,481 $4,302 3.29%
Black 401 $60,925,000 $151,933 $4,181 3.16%
Not provided 258 $34,100,000 $132,171 $4,281 3.55%
Asian 31 $5,305,000 $171,129 $4,063 3.37%
Asian Indian 5 $1,135,000 $227,000 $6,934 3.20%
Native Hawaiian 4 $780,000 $195,000 $5,000 2.78%
American Indian 4 $670,000 $167,500 $3,844 3.25%
Not applicable 2 $350,000 $175,000 $3,450 3.63%
Japanese 2 $230,000 $115,000 $1,938 3.69%
Other Asian 1 $225,000 $225,000 $7,136 3.38%
Chinese 1 $65,000 $65,000 $0 5.00%

Approval Rates

Total approvals of all applications
82.55%

Associated Credit Union has a below average approval rate.

Pick Rate

Approvals leading to origination
82.40%

Associated Credit Union has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,330 $207,170,000 $155,767

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,330 $207,170,000 $155,767

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 232 $22,780,000 $98,190 $2,380 3.36%
40-60% 307 $52,905,000 $172,329 $3,403 2.82%
60-80% 366 $82,310,000 $224,891 $5,247 2.90%
80-100% 136 $34,990,000 $257,279 $6,108 3.02%
Over 100% 1 $115,000 $115,000 $2,391 2.38%
Under 20% 277 $12,155,000 $43,881 $1,400 4.48%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
ASSOCIATED BANC-CORP Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 16.7%
ASSOCIATED BANC-CORP Conventional home mortgage Incorrect information on your report 1 8.3%
ASSOCIATED BANC-CORP Conventional home mortgage Struggling to pay mortgage 2 16.7%
ASSOCIATED BANC-CORP Conventional home mortgage Trouble during payment process 3 25.0%
ASSOCIATED BANC-CORP FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 8.3%
ASSOCIATED BANC-CORP FHA mortgage Struggling to pay mortgage 1 8.3%
ASSOCIATED BANC-CORP FHA mortgage Trouble during payment process 1 8.3%
ASSOCIATED BANC-CORP Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 8.3%