Members 1st Credit Union Mortgage Rates, Fees & Info

Redding, CA

LEI: 5493006MW6O2CE88BD43

Tax ID: 94-0362026

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

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

    • Review & Overview

    Members 1st Credit Union is a smaller credit union specializing in Refi and Cash Out Refi loans. Members 1st Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Redding, Red Bluff, Chico, and Crescent City among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Members 1st Credit Union has an above average approval rate when compared to the average across all lenders. They have a below 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.28% 11/21/24
    30 Year Conventional Refi 5.59% 11/21/24
    30 Year Cash-out Refi 5.65% 11/21/24
    15 Year Conventional Purchase 5.68% 11/21/24
    15 Year Conventional Refi 4.92% 11/21/24
    15 Year Cash-out Refi 4.92% 11/21/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Members 1st Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Members 1st Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    88

    Origination Dollar Volume (All Markets)

    $14,970,000

    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
    REDDING, CA (FHA|USDA|VA) 68 $11,240,000 $165,294 $1,540 2.78%
    Red Bluff, CA (FHA|USDA|VA) 14 $2,490,000 $177,857 $1,510 2.78%
    CHICO, CA (FHA|USDA|VA) 4 $890,000 $222,500 $1,511 2.59%
    Crescent City, CA (FHA|USDA|VA) 1 $275,000 $275,000 $1,470 2.88%
    Outside of Metro Areas 1 $75,000 $75,000 $1,350 3.24%
    Members 1st Credit Union's top markets include Redding, Red Bluff, Chico, and Crescent City among others.

    Their top states include:
  • California (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 88 $14,970,000 $170,114 $1,531 2.78%

    For 2021, Members 1st Credit Union's most frequently originated type of loan was Conventional, with 88 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 45 $7,245,000 $161,000 $1,501 2.76%
    Cash Out Refi 40 $7,260,000 $181,500 $1,550 2.79%
    Home Improvement 3 $465,000 $155,000 $1,730 2.75%

    For 2021, Members 1st Credit Union's most frequently cited loan purpose was Refi, with 45 originations. The 2nd most popular reason was Cash Out Refi, with 40 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 52 $9,600,000 $184,615 $1,557 2.89%
    10 Year 21 $2,885,000 $137,381 $1,513 2.49%
    15 Year 15 $2,485,000 $165,667 $1,468 2.78%

    For 2021, Members 1st Credit Union's most frequently cited loan duration was 20 Year, with 52 originations. The 2nd most popular length was 10 Year, with 21 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 37 $7,405,000 $200,135

    Members 1st Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 37 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 65 $11,905,000 $183,154
    <2.5% 21 $2,885,000 $137,381
    3-4% 2 $180,000 $90,000

    During 2021, Members 1st Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 2.5-3%, with 65 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 46 $6,990,000 $151,957 $1,527 2.78%
    $200k-400k 24 $6,060,000 $252,500 $1,554 2.81%
    $100,000 or less 16 $1,100,000 $68,750 $1,444 2.70%
    $400k-600k 2 $820,000 $410,000 $1,998 2.88%

    2021 saw Members 1st Credit Union place emphasis on $100k-200k loans with 46 originations, totaling $6,990,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 31 $6,205,000 $200,161 $1,531 2.73%
    $50k-75k 18 $2,830,000 $157,222 $1,566 2.80%
    $50k or less 17 $2,085,000 $122,647 $1,485 2.82%
    $75k-100k 11 $1,285,000 $116,818 $1,454 2.83%
    $150k-250k 10 $2,420,000 $242,000 $1,633 2.79%
    $250k+ 1 $145,000 $145,000 $1,425 2.50%

    Members 1st Credit Union lent most frequently to those with incomes in the $100k-150k range, with 31 originations. The second most popular income band? $50k-75k, with 18 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 28 $4,060,000 $145,000 $1,499 2.75%
    30-36% 19 $4,035,000 $212,368 $1,554 2.85%
    <20% 8 $1,180,000 $147,500 $1,600 2.77%
    40% 7 $1,315,000 $187,857 $1,607 2.75%
    41% 6 $1,270,000 $211,667 $1,651 2.79%
    37% 4 $610,000 $152,500 $1,559 2.78%
    36% 4 $510,000 $127,500 $1,454 2.75%
    42% 4 $610,000 $152,500 $1,420 2.78%
    38% 4 $740,000 $185,000 $1,444 2.78%
    39% 2 $310,000 $155,000 $1,454 2.69%
    43% 1 $275,000 $275,000 $1,470 2.88%
    45% 1 $55,000 $55,000 $1,204 2.50%

    Members 1st Credit Union lent most frequently to those with DTI ratios of 20-30%, with 28 originations. The next most common DTI ratio? 30-36%, with 19 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 67 $10,995,000 $164,104 $1,535 2.75%
    Not provided 15 $2,665,000 $177,667 $1,529 2.89%
    Asian 3 $805,000 $268,333 $1,541 2.75%
    Not applicable 2 $410,000 $205,000 $1,429 2.88%
    American Indian 1 $95,000 $95,000 $1,470 2.50%

    Approval Rates

    Total approvals of all applications
    90.52%

    Members 1st Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.82%

    Members 1st Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 7 $1,345,000 $192,143
    NA 81 $13,625,000 $168,210

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    88 $14,970,000 $170,114

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 15 $1,725,000 $115,000 $1,508 2.76%
    40-60% 33 $5,255,000 $159,242 $1,501 2.79%
    60-80% 23 $5,715,000 $248,478 $1,589 2.80%
    80-100% 7 $1,545,000 $220,714 $1,607 2.88%
    Under 20% 9 $585,000 $65,000 $1,471 2.65%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    MEMBERS MORTGAGE COMPANY, INC. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%