Union Savings And Loan Association Mortgage Rates, Fees & Info

Connersville, IN

LEI: 5493006VVC2EW2KLYK29

Tax ID: 35-0722275

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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 Savings And Loan Association is a smaller credit union specializing in Cash Out Refi and Refi loans. Union Savings And Loan Association has a high proportion of conventional loans. Their top markets by origination volume include: Connersville, Indianapolis, Cincinnati, Richmond, and Cape Coral among others. We have data for 7 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.

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    Originations

    242

    Origination Dollar Volume (All Markets)

    $36,030,000

    Employee count

    53

    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
    Connersville, IN (FHA|USDA|VA) 117 $12,685,000 $108,419 $0 0.00%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 61 $11,405,000 $186,967 $0 0.00%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 23 $5,285,000 $229,783 $0 0.00%
    Outside of Metro Areas 29 $4,015,000 $138,448 $0 0.00%
    Richmond, IN (FHA|USDA|VA) 10 $1,390,000 $139,000 $0 0.00%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $695,000 $695,000 $0 0.00%
    MUNCIE, IN (FHA|USDA|VA) 1 $555,000 $555,000 $0 0.00%
    Union Savings And Loan Association's top markets include Connersville, Indianapolis, Cincinnati, Richmond, and Cape Coral among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 242 $36,030,000 $148,884 $0 0.00%

    For 2021, Union Savings And Loan Association's most frequently originated type of loan was Conventional, with 242 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 103 $15,625,000 $151,699 $0 0.00%
    Refi 80 $12,180,000 $152,250 $0 0.00%
    Home Purchase 56 $6,810,000 $121,607 $0 0.00%
    NA 2 $1,370,000 $685,000 $0 0.00%
    Other 1 $45,000 $45,000 $0 0.00%

    For 2021, Union Savings And Loan Association's most frequently cited loan purpose was Cash Out Refi, with 103 originations. The 2nd most popular reason was Refi, with 80 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 242 $36,030,000 $148,884 $0 0.00%

    For 2021, Union Savings And Loan Association's most frequently cited loan duration was Other, with 242 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 102 $6,480,000 $63,529 $0 0.00%
    $100k-200k 90 $12,790,000 $142,111 $0 0.00%
    $200k-400k 40 $10,880,000 $272,000 $0 0.00%
    $400k-600k 7 $3,375,000 $482,143 $0 0.00%
    $600k-1MM 2 $1,320,000 $660,000 $0 0.00%
    $1MM+ 1 $1,185,000 $1,185,000 $0 0.00%

    2021 saw Union Savings And Loan Association place emphasis on $100,000 or less loans with 102 originations, totaling $6,480,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 64 $5,680,000 $88,750 $0 0.00%
    $50k-75k 50 $5,810,000 $116,200 $0 0.00%
    $75k-100k 44 $6,360,000 $144,545 $0 0.00%
    $100k-150k 42 $8,530,000 $203,095 $0 0.00%
    $150k-250k 17 $3,795,000 $223,235 $0 0.00%
    $250k+ 6 $2,310,000 $385,000 $0 0.00%

    Union Savings And Loan Association lent most frequently to those with incomes in the $50k or less range, with 64 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% 242 $36,030,000 $148,884 $0 0.00%

    Union Savings And Loan Association lent most frequently to those with DTI ratios of Exempt%, with 242 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 231 $34,505,000 $149,372 $0 0.00%
    Not applicable 8 $1,050,000 $131,250 $0 0.00%
    Asian 1 $275,000 $275,000 $0 0.00%
    Black 2 $200,000 $100,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    83.16%

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

    Pick Rate

    Approvals leading to origination
    78.10%

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

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 242 $36,030,000 $148,884

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    242 $36,030,000 $148,884

    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 $6,749
    Union Savings and Loan Association 1986 West Main Street Greenfield, IN 46140 Full Service B&M $31,940
    Union Savings and Loan Association 500 West 30th Street Connersville, IN 47331 Full Service B&M $24,486
    Union Savings and Loan Association 730 Central Avenue Connersville, IN 47331 Full Service B&M $114,750

    For 2021, Union Savings And Loan Association had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $6,587
    Net interest income $5,546
    Total noninterest income $2,451
    Gross Fiduciary activities income $349
    Service charges on deposit accounts $180
    Trading account gains and fees $0
    Additional Noninterest Income $1,922
    Pre-tax net operating income $1,529
    Securities gains (or losses, -) $0
    Income before extraordinary items $1,153
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,153
    Minority interest net income $0
    Net income $1,153
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,153

    Union Savings And Loan Association's gross interest income from loans was $6,587,000.
    Union Savings And Loan Association's net interest income from loans was $5,546,000.
    Union Savings And Loan Association's fee based income from loans was $180,000.
    Union Savings And Loan Association's net income from loans was $1,153,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,041
    Provision for credit losses $135
    Total noninterest expense $6,333
    Salaries and employee benefits $3,809
    Premises and equipment expense $617
    Additional noninterest expense $1,907
    Applicable income taxes $376
    Net charge-offs $10
    Cash dividends $0

    Union Savings And Loan Association's interest expense for loans was $1,041,000.
    Union Savings And Loan Association's payroll and benefits expense were $3,809,000.
    Union Savings And Loan Association's property, plant and equipment expenses $617,000.

    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 4.0%
    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 $187,663
    Deposits held in domestic offices $187,663
    Deposits by Individuals, partnerships, and corporations $187,662
    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 $55,784
    Demand deposits $40,238
    Nontransaction accounts $131,878
    Money market deposit accounts (MMDAs) $28,526
    Other savings deposits (excluding MMDAs) $36,106
    Total time deposits $67,247
    Total time and savings deposits $147,424
    Noninterest-bearing deposits $47,236
    Interest-bearing deposits $140,427
    Retail deposits $178,755
    IRAs and Keogh plan accounts $8,485
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $207,882
    Cash & Balances due from depository institutions $29,474
    Interest-bearing balances $27,222
    Total securities $23,240
    Federal funds sold & reverse repurchase $0
    Net loans and leases $145,607
    Loan and leases loss allowance $1,752
    Trading account assets $0
    Bank premises and fixed assets $5,454
    Other real estate owned $0
    Goodwill and other intangibles $413
    All other assets $3,694

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $207,882
    Total Liabilities $188,532
    Total deposits $187,663
    Interest-bearing deposits $140,427
    Deposits held in domestic offices $187,663
    % insured (estimated) $92
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $869

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $145,607
    Loan and leases loss allowance $1,752
    Total loans and leases (domestic) $147,359
    All real estate loans $118,626
    Real estate loans in domestic offices $118,626
    Construction and development loans $12,893
    Residential 1-4 family construction $6,518
    Other construction, all land development and other land $6,375
    Loans secured by nonfarm nonresidential properties $15,790
    Nonfarm nonresidential secured by owner-occupied properties $15,790
    Commercial real estate & other non-farm, non-residential $0
    Multifamily residential real estate $3,775
    1-4 family residential loans $79,806
    Farmland loans $6,362
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $6,051
    To non-U.S. addressees $0
    Loans to individuals $22,682
    Credit card loans $0
    Related Plans $2
    Consumer Auto Loans $20,228
    Other loans to individuals $2,452
    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 $84
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Union Savings And Loan Association had $145,607,000 of loans outstanding in 2021. $118,626,000 of loans were in real estate loans. $12,893,000 of loans were in development loans. $3,775,000 of loans were in multifamily mortgage loans. $79,806,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $20,228,000 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 74 $15,790 $213,378
    Nonfarm, nonresidential loans - <$100k 35 $1,271 $36,314
    Nonfarm, nonresidential loans - $100-250k 20 $3,362 $168,100
    Nonfarm, nonresidential loans - $250k-1MM 19 $11,157 $587,211
    Commercial & Industrial, US addressed loans - <$1MM 92 $5,875 $63,859
    Commercial & Industrial, US addressed loans - <$100k 75 $2,198 $29,307
    Commercial & Industrial, US addressed loans - $100-250k 14 $2,369 $169,214
    Commercial & Industrial, US addressed loans - $250k-1MM 3 $1,308 $436,000
    Farmland loans - <$1MM 24 $4,661 $194,208
    Farmland loans - <$100k 4 $279 $69,750
    Farmland loans - $100-250k 8 $1,176 $147,000
    Farmland loans - $250k-1MM 12 $3,206 $267,167