Union Federal Savings And Loan Association Mortgage Rates, Fees & Info

Kewanee, IL

LEI: 254900TY6UTJ321IPS13

Tax ID: 36-1893040

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Union Federal Savings And Loan Association is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Union Federal Savings And Loan Association has a high proportion of conventional loans. Their top markets by origination volume include: Madison, Davenport, North Port, Janesville, and Beaver Dam among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Union Federal Savings And Loan Association has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    Originations

    128

    Origination Dollar Volume (All Markets)

    $26,070,000

    Employee count

    34

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    MADISON, WI (FHA|USDA|VA) 62 $18,760,000 $302,581 $0 0.00%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 54 $3,910,000 $72,407 $0 0.00%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $0 0.00%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 2 $730,000 $365,000 $0 0.00%
    Beaver Dam, WI (FHA|USDA|VA) 1 $505,000 $505,000 $0 0.00%
    Galesburg, IL (FHA|USDA|VA) 2 $410,000 $205,000 $0 0.00%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
    Ottawa, IL (FHA|USDA|VA) 3 $245,000 $81,667 $0 0.00%
    Sterling, IL (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
    Baraboo, WI (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
    Union Federal Savings And Loan Association's top markets include Madison, Davenport, North Port, Janesville, and Beaver Dam among others.

    Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 128 $26,070,000 $203,672 $0 0.00%

    For 2020, Union Federal Savings And Loan Association's most frequently originated type of loan was Conventional, with 128 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 66 $13,780,000 $208,788 $0 0.00%
    Cash Out Refi 45 $10,375,000 $230,556 $0 0.00%
    Refi 12 $1,810,000 $150,833 $0 0.00%
    Home Improvement 5 $105,000 $21,000 $0 0.00%

    For 2020, Union Federal Savings And Loan Association's most frequently cited loan purpose was Home Purchase, with 66 originations. The 2nd most popular reason was Cash Out Refi, with 45 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 128 $26,070,000 $203,672 $0 0.00%

    For 2020, Union Federal Savings And Loan Association's most frequently cited loan duration was Other, with 128 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 48 $2,330,000 $48,542 $0 0.00%
    $200k-400k 40 $10,740,000 $268,500 $0 0.00%
    $100k-200k 28 $4,010,000 $143,214 $0 0.00%
    $400k-600k 8 $3,760,000 $470,000 $0 0.00%
    $1MM+ 4 $5,230,000 $1,307,500 $0 0.00%

    2020 saw Union Federal Savings And Loan Association place emphasis on $100,000 or less loans with 48 originations, totaling $2,330,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 22 $4,670,000 $212,273 $0 0.00%
    $50k-75k 22 $2,680,000 $121,818 $0 0.00%
    $50k or less 22 $1,420,000 $64,545 $0 0.00%
    $100k-150k 14 $2,460,000 $175,714 $0 0.00%
    $75k-100k 14 $2,110,000 $150,714 $0 0.00%
    $250k+ 4 $2,050,000 $512,500 $0 0.00%

    Union Federal Savings And Loan Association lent most frequently to those with incomes in the $150k-250k range, with 22 originations. The second most popular income band? $50k-75k, with 22 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 128 $26,070,000 $203,672 $0 0.00%

    Union Federal Savings And Loan Association lent most frequently to those with DTI ratios of Exempt%, with 128 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 87 $12,785,000 $146,954 $0 0.00%
    Not applicable 29 $10,585,000 $365,000 $0 0.00%
    Not provided 5 $1,035,000 $207,000 $0 0.00%
    Asian 4 $860,000 $215,000 $0 0.00%
    Black 2 $560,000 $280,000 $0 0.00%
    Chinese 1 $245,000 $245,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.68%

    Union Federal Savings And Loan Association has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    96.09%

    Union Federal Savings And Loan Association has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 128 $26,070,000 $203,672

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 9 $5,995,000 $666,111
    Single Family (1-4 Units):Site-Built 119 $20,075,000 $168,697

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Union Federal Savings and Loan Association 104 North Tremont Street Kewanee, IL 61443 Full Service B&M $75,161
    Union Federal Savings and Loan Association 110 W. 10th Avenue Milan, IL 61264 Full Service B&M $14,422
    Union Federal Savings and Loan Association 1110 Division St. Orion, IL 61273 Full Service B&M $9,459
    Union Federal Savings and Loan Association 115 West Washington Ave. Madison, WI 53703 Full Service B&M $7,855
    Union Federal Savings and Loan Association 320 West Main Street Geneseo, IL 61254 Full Service B&M $11,944
    Union Federal Savings and Loan Association 357 42nd Avenue East Moline, IL 61244 Full Service B&M $13,324

    For 2020, Union Federal Savings And Loan Association had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $5,556
    Net interest income $4,481
    Total noninterest income $204
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $53
    Trading account gains and fees $0
    Additional Noninterest Income $151
    Pre-tax net operating income $-313
    Securities gains (or losses, -) $0
    Income before extraordinary items $-213
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $-213
    Minority interest net income $0
    Net income $-213
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $-213

    Union Federal Savings And Loan Association's gross interest income from loans was $5,556,000.
    Union Federal Savings And Loan Association's net interest income from loans was $4,481,000.
    Union Federal Savings And Loan Association's fee based income from loans was $53,000.
    Union Federal Savings And Loan Association's net income from loans was $-213,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,075
    Provision for credit losses $222
    Total noninterest expense $4,776
    Salaries and employee benefits $3,115
    Premises and equipment expense $561
    Additional noninterest expense $1,100
    Applicable income taxes $-100
    Net charge-offs $-8
    Cash dividends $0

    Union Federal Savings And Loan Association's interest expense for loans was $1,075,000.
    Union Federal Savings And Loan Association's payroll and benefits expense were $3,115,000.
    Union Federal Savings And Loan Association's property, plant and equipment expenses $561,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $133,323
    Deposits held in domestic offices $133,323
    Deposits by Individuals, partnerships, and corporations $132,436
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $887
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $32,114
    Demand deposits $3,454
    Nontransaction accounts $101,209
    Money market deposit accounts (MMDAs) $4,030
    Other savings deposits (excluding MMDAs) $42,332
    Total time deposits $54,848
    Total time and savings deposits $129,869
    Noninterest-bearing deposits $3,454
    Interest-bearing deposits $129,869
    Retail deposits $129,970
    IRAs and Keogh plan accounts $13,495
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $161,138
    Cash & Balances due from depository institutions $21,200
    Interest-bearing balances $18,650
    Total securities $5,530
    Federal funds sold & reverse repurchase $0
    Net loans and leases $124,372
    Loan and leases loss allowance $1,230
    Trading account assets $0
    Bank premises and fixed assets $2,797
    Other real estate owned $216
    Goodwill and other intangibles $272
    All other assets $6,751

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $161,138
    Total Liabilities $137,722
    Total deposits $133,323
    Interest-bearing deposits $129,869
    Deposits held in domestic offices $133,323
    % insured (estimated) $95
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $4,000
    Subordinated debt $0
    All other liabilities $399

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $124,372
    Loan and leases loss allowance $1,230
    Total loans and leases (domestic) $125,602
    All real estate loans $121,562
    Real estate loans in domestic offices $121,562
    Construction and development loans $239
    Residential 1-4 family construction $150
    Other construction, all land development and other land $89
    Loans secured by nonfarm nonresidential properties $7,533
    Nonfarm nonresidential secured by owner-occupied properties $530
    Commercial real estate & other non-farm, non-residential $7,003
    Multifamily residential real estate $33,973
    1-4 family residential loans $79,817
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $3,760
    To non-U.S. addressees $0
    Loans to individuals $442
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $201
    Other loans to individuals $241
    All other loans & leases $0
    Loans to foreign governments and official institutions $0
    Other loans $0
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $770
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Union Federal Savings and Loan Association had $124,372,000 of loans outstanding in 2020. $121,562,000 of loans were in real estate loans. $239,000 of loans were in development loans. $33,973,000 of loans were in multifamily mortgage loans. $79,817,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $201,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 7 $1,566 $223,714
    Nonfarm, nonresidential loans - <$100k 4 $130 $32,500
    Nonfarm, nonresidential loans - $250k-1MM 3 $1,436 $478,667
    Commercial & Industrial, US addressed loans - <$1MM 50 $2,155 $43,100
    Commercial & Industrial, US addressed loans - <$100k 42 $1,160 $27,619
    Commercial & Industrial, US addressed loans - $100-250k 8 $995 $124,375