Members Choice Financial Credit Union Mortgage Rates, Fees & Info
Danville, PALEI: 5493006RLJ90VH94SV71
Tax ID: 24-0823199
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Mortgage Data
Review & Overview
Members Choice Financial Credit Union is a smaller credit union specializing in Home Purchase loans. Members Choice Financial Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Bloomsburg, Sunbury, Lewisburg, Reading, and Pottsville among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Members Choice Financial 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.
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Originations
54Origination Dollar Volume (All Markets)
$7,750,000Top 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 |
|---|---|---|---|---|---|
| BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) | 19 | $3,265,000 | $171,842 | $0 | 0.00% |
| Sunbury, PA (FHA|USDA|VA) | 21 | $2,245,000 | $106,905 | $0 | 0.00% |
| Lewisburg, PA (FHA|USDA|VA) | 7 | $1,255,000 | $179,286 | $0 | 0.00% |
| READING, PA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 0.00% |
| Pottsville, PA (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $0 | 0.00% |
| WILLIAMSPORT, PA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| Selinsgrove, PA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $35,000 | $35,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 54 | $7,750,000 | $143,519 | $0 | 0.00% |
For 2018, Members Choice Financial Credit Union's most frequently originated type of loan was Conventional, with 54 originations.
Loan Reason
For 2018, Members Choice Financial Credit Union's most frequently cited loan purpose was Home Purchase, with 28 originations. The 2nd most popular reason was Refi, with 13 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 54 | $7,750,000 | $143,519 | $0 | 0.00% |
For 2018, Members Choice Financial Credit Union's most frequently cited loan duration was Other, with 54 originations.
Loan Sizing
2018 saw Members Choice Financial Credit Union place emphasis on $100,000 or less loans with 22 originations, totaling $1,100,000 in origination value.
Applicant Income
Members Choice Financial Credit Union lent most frequently to those with incomes in the $50k-75k range, with 13 originations. The second most popular income band? $50k or less, with 11 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 54 | $7,750,000 | $143,519 | $0 | 0.00% |
Members Choice Financial Credit Union lent most frequently to those with DTI ratios of Exempt%, with 54 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.88%
Members Choice Financial Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination85.19%
Members Choice Financial Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 54 | $7,750,000 | $143,519 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 4 | $780,000 | $195,000 |
| Single Family (1-4 Units):Site-Built | 50 | $6,970,000 | $139,400 |
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MEMBER FIRST MORTGAGE, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |