Union Savings And Loan Association Mortgage Rates, Fees & Info

Connersville, IN

LEI: 5493006VVC2EW2KLYK29

Tax ID: 35-0722275

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

Jump to:

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

    Union Savings And Loan Association has an 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    260

    Origination Dollar Volume (All Markets)

    $39,600,000

    Employee count

    52

    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
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 73 $14,245,000 $195,137 $0 0.00%
    Connersville, IN (FHA|USDA|VA) 109 $10,435,000 $95,734 $0 0.00%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 37 $9,955,000 $269,054 $0 0.00%
    Outside of Metro Areas 22 $2,510,000 $114,091 $0 0.00%
    Greensburg, IN (FHA|USDA|VA) 7 $1,005,000 $143,571 $0 0.00%
    Richmond, IN (FHA|USDA|VA) 6 $750,000 $125,000 $0 0.00%
    Warsaw, IN (FHA|USDA|VA) 2 $470,000 $235,000 $0 0.00%
    BLOOMINGTON, IN (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
    Marion, IN (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
    New Castle, IN (FHA|USDA|VA) 2 $40,000 $20,000 $0 0.00%
    Union Savings And Loan Association's top markets include Indianapolis, Connersville, Cincinnati, Greensburg, and Richmond among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 260 $39,600,000 $152,308 $0 0.00%

    For 2020, Union Savings And Loan Association's most frequently originated type of loan was Conventional, with 260 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 95 $14,925,000 $157,105 $0 0.00%
    Refi 93 $14,085,000 $151,452 $0 0.00%
    Home Purchase 70 $10,470,000 $149,571 $0 0.00%
    Home Improvement 1 $85,000 $85,000 $0 0.00%
    Other 1 $35,000 $35,000 $0 0.00%

    For 2020, Union Savings And Loan Association's most frequently cited loan purpose was Cash Out Refi, with 95 originations. The 2nd most popular reason was Refi, with 93 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 260 $39,600,000 $152,308 $0 0.00%

    For 2020, Union Savings And Loan Association's most frequently cited loan duration was Other, with 260 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 107 $6,095,000 $56,963 $0 0.00%
    $100k-200k 87 $11,895,000 $136,724 $0 0.00%
    $200k-400k 54 $14,090,000 $260,926 $0 0.00%
    $400k-600k 7 $3,305,000 $472,143 $0 0.00%
    $600k-1MM 4 $3,090,000 $772,500 $0 0.00%
    $1MM+ 1 $1,125,000 $1,125,000 $0 0.00%

    2020 saw Union Savings And Loan Association place emphasis on $100,000 or less loans with 107 originations, totaling $6,095,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 71 $5,965,000 $84,014 $0 0.00%
    $50k-75k 50 $6,170,000 $123,400 $0 0.00%
    $100k-150k 40 $7,500,000 $187,500 $0 0.00%
    $75k-100k 36 $4,840,000 $134,444 $0 0.00%
    $150k-250k 28 $6,160,000 $220,000 $0 0.00%
    $250k+ 6 $1,970,000 $328,333 $0 0.00%

    Union Savings And Loan Association lent most frequently to those with incomes in the $50k or less range, with 71 originations. The second most popular income band? $50k-75k, with 50 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 260 $39,600,000 $152,308 $0 0.00%

    Union Savings And Loan Association lent most frequently to those with DTI ratios of Exempt%, with 260 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 221 $31,545,000 $142,738 $0 0.00%
    Not applicable 30 $7,040,000 $234,667 $0 0.00%
    Not provided 6 $460,000 $76,667 $0 0.00%
    Asian 2 $400,000 $200,000 $0 0.00%
    Black 1 $155,000 $155,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    83.44%

    Union Savings And Loan Association has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    68.85%

    Union Savings And Loan Association has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 260 $39,600,000 $152,308

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 6 $550,000 $91,667
    Single Family (1-4 Units):Site-Built 254 $39,050,000 $153,740

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Union Savings and Loan Association 131 South Main Rushville, IN 46173 Full Service B&M $996
    Union Savings and Loan Association 1986 West Main Street Greenfield, IN 46140 Full Service B&M $32,024
    Union Savings and Loan Association 500 West 30th Street Connersville, IN 47331 Full Service B&M $19,820
    Union Savings and Loan Association 730 Central Avenue Connersville, IN 47331 Full Service B&M $104,319

    For 2020, Union Savings And Loan Association had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $7,173
    Net interest income $5,512
    Total noninterest income $1,870
    Gross Fiduciary activities income $326
    Service charges on deposit accounts $207
    Trading account gains and fees $0
    Additional Noninterest Income $1,337
    Pre-tax net operating income $1,481
    Securities gains (or losses, -) $0
    Income before extraordinary items $1,103
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,103
    Minority interest net income $0
    Net income $1,103
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,103

    Union Savings And Loan Association's gross interest income from loans was $7,173,000.
    Union Savings And Loan Association's net interest income from loans was $5,512,000.
    Union Savings And Loan Association's fee based income from loans was $207,000.
    Union Savings And Loan Association's net income from loans was $1,103,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,661
    Provision for credit losses $220
    Total noninterest expense $5,681
    Salaries and employee benefits $3,545
    Premises and equipment expense $553
    Additional noninterest expense $1,583
    Applicable income taxes $378
    Net charge-offs $67
    Cash dividends $0

    Union Savings And Loan Association's interest expense for loans was $1,661,000.
    Union Savings And Loan Association's payroll and benefits expense were $3,545,000.
    Union Savings And Loan Association's property, plant and equipment expenses $553,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 3.0%
    Nonfarm, nonresidential loans 3.0%
    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 $161,925
    Deposits held in domestic offices $161,925
    Deposits by Individuals, partnerships, and corporations $161,925
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $0
    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 $54,901
    Demand deposits $28,678
    Nontransaction accounts $107,024
    Money market deposit accounts (MMDAs) $18,776
    Other savings deposits (excluding MMDAs) $10,024
    Total time deposits $78,224
    Total time and savings deposits $133,247
    Noninterest-bearing deposits $28,678
    Interest-bearing deposits $133,247
    Retail deposits $148,807
    IRAs and Keogh plan accounts $10,319
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $180,918
    Cash & Balances due from depository institutions $22,250
    Interest-bearing balances $20,060
    Total securities $7,573
    Federal funds sold & reverse repurchase $0
    Net loans and leases $143,129
    Loan and leases loss allowance $1,627
    Trading account assets $0
    Bank premises and fixed assets $5,649
    Other real estate owned $94
    Goodwill and other intangibles $406
    All other assets $1,817

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $180,918
    Total Liabilities $162,537
    Total deposits $161,925
    Interest-bearing deposits $133,247
    Deposits held in domestic offices $161,925
    % insured (estimated) $93
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $612

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $143,129
    Loan and leases loss allowance $1,627
    Total loans and leases (domestic) $144,756
    All real estate loans $118,476
    Real estate loans in domestic offices $118,476
    Construction and development loans $13,743
    Residential 1-4 family construction $8,567
    Other construction, all land development and other land $5,176
    Loans secured by nonfarm nonresidential properties $16,787
    Nonfarm nonresidential secured by owner-occupied properties $16,787
    Commercial real estate & other non-farm, non-residential $0
    Multifamily residential real estate $3,818
    1-4 family residential loans $78,392
    Farmland loans $5,736
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $5,184
    To non-U.S. addressees $0
    Loans to individuals $21,095
    Credit card loans $0
    Related Plans $3
    Consumer Auto Loans $18,185
    Other loans to individuals $2,907
    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 $289
    Non 1-4 family restructured loans & leases $109
    Total loans and leases (foreign) $0

    Union Savings And Loan Association had $143,129,000 of loans outstanding in 2020. $118,476,000 of loans were in real estate loans. $13,743,000 of loans were in development loans. $3,818,000 of loans were in multifamily mortgage loans. $78,392,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $18,185,000 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 83 $16,786 $202,241
    Nonfarm, nonresidential loans - <$100k 42 $1,730 $41,190
    Nonfarm, nonresidential loans - $100-250k 22 $3,768 $171,273
    Nonfarm, nonresidential loans - $250k-1MM 19 $11,288 $594,105
    Commercial & Industrial, US addressed loans - <$1MM 109 $5,184 $47,560
    Commercial & Industrial, US addressed loans - <$100k 97 $2,440 $25,155
    Commercial & Industrial, US addressed loans - $100-250k 7 $1,176 $168,000
    Commercial & Industrial, US addressed loans - $250k-1MM 5 $1,568 $313,600
    Farmland loans - <$1MM 9 $2,417 $268,556
    Farmland loans - <$100k 1 $82 $82,000
    Farmland loans - $100-250k 4 $659 $164,750
    Farmland loans - $250k-1MM 4 $1,676 $419,000