Co-op Credit Union Mortgage Rates, Fees & Info

Black River Falls, WI

LEI: 549300HZKPV04SFK9K27

Tax ID: 39-0745853

5 stars - out of 5 stars, based on 26 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Co-op Credit Union is a smaller credit union specializing in Cash Out Refi, Home Purchase, and Refi loans. Co-op Credit Union has a high proportion of conventional loans. Their top markets include Eau Claire, La Crosse, Menomonie, Minneapolis, and Milwaukee among others. Co-op Credit Union has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. Co-op Credit Union is typically a low fee lendor.


Originations

660

Origination Dollar Volume (All Markets)

$88,770,000

Awards

CO-OP Credit Union 30 Year Conventional Loans gold CO-OP Credit Union 30 Year Conventional Loans gold CO-OP Credit Union 30 Year Conventional Loans silver CO-OP Credit Union 30 Year Conventional Loans gold
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Relative Rate

Co-op Credit Union's average 30 year fixed rate mortgage of loans were 3.33%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.18%.

Relative Fees

Co-op Credit Union's average total fees for a 30 year fixed rate mortgage are $1,517.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Outside of Metro Areas 525 $71,525,000 $136,238 $1,208 3.38%
EAU CLAIRE, WI (FHA|USDA|VA) 85 $10,635,000 $125,118 $1,402 3.58%
LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 32 $3,820,000 $119,375 $1,459 3.50%
Menomonie, WI (FHA|USDA|VA) 4 $610,000 $152,500 $1,830 3.45%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 3 $495,000 $165,000 $1,869 3.33%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $495,000 $495,000 $2,880 3.25%
MADISON, WI (FHA|USDA|VA) 2 $410,000 $205,000 $2,174 3.13%
APPLETON, WI (FHA|USDA|VA) 1 $265,000 $265,000 $1,748 3.13%
WAUSAU-WESTON, WI (FHA|USDA|VA) 2 $170,000 $85,000 $1,365 3.24%
Watertown-Fort Atkinson, WI (FHA|USDA|VA) 1 $115,000 $115,000 $1,458 3.38%
GREEN BAY, WI (FHA|USDA|VA) 1 $105,000 $105,000 $746 3.50%
ROCHESTER, MN (FHA|USDA|VA) 1 $75,000 $75,000 $1,643 3.75%
Winona, MN (FHA|USDA|VA) 1 $25,000 $25,000 $0 4.01%
RACINE, WI (FHA|USDA|VA) 1 $25,000 $25,000 $758 2.88%

Co-op Credit Union's top markets include Eau Claire, La Crosse, Menomonie, Minneapolis, and Milwaukee among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 660 $88,770,000 $134,500 $1,252 3.41%

For the 2021 period, Co-op Credit Union's most frequently originated loan type of loans were Conventional, with 660 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 258 $37,400,000 $144,961 $1,070 3.27%
Home Purchase 219 $28,725,000 $131,164 $1,717 3.49%
Refi 131 $18,015,000 $137,519 $895 3.26%
Other 51 $4,405,000 $86,373 $957 4.17%
Home Improvement 1 $225,000 $225,000 $2,558 3.39%

For the 2021, Co-op Credit Union's most frequently cited loan purpose of loans were Cash Out Refi, with 258 originations. The 2nd most popular reason of loans were Home Purchase, with 219 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 274 $47,400,000 $172,993 $1,517 3.33%
15 Year 145 $16,145,000 $111,345 $1,056 3.58%
10 Year 111 $9,175,000 $82,658 $884 3.12%
20 Year 68 $8,730,000 $128,382 $1,272 3.56%
Other 52 $6,880,000 $132,308 $944 3.73%
5 Year 8 $140,000 $17,500 $125 3.64%
1 Year 2 $300,000 $150,000 $2,558 3.82%

For the 2021, Co-op Credit Union's most frequently cited loan length of loans were 30 Year, with 274 originations. The 2nd most popular length of loans were 15 Year, with 145 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 597 $84,485,000 $141,516

$1,517 of loans were Co-op Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 597 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 393 $59,155,000 $150,522
2.5-3% 183 $23,505,000 $128,443
4-5% 63 $4,435,000 $70,397
5-6% 12 $360,000 $30,000
<2.5% 9 $1,315,000 $146,111

During 2021, Co-op Credit Union's average interest rate of loans were 3.33%, while their most frequently originated rate bucket of loans were 3-4%, with 393 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 285 $17,455,000 $61,246 $963 3.55%
$100k-200k 261 $36,885,000 $141,322 $1,412 3.33%
$200k-400k 106 $28,700,000 $270,755 $1,480 3.25%
$400k-600k 5 $2,235,000 $447,000 $2,239 3.23%
$1MM+ 2 $2,640,000 $1,320,000 $1,279 3.30%
$600k-1MM 1 $855,000 $855,000 $671 3.60%

2021 saw Co-op Credit Union place emphasis on $100,000 or less loans with 285 originations, totaling $17,455,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k or less 231 $23,335,000 $101,017 $1,201 3.53%
$100k-150k 126 $22,220,000 $176,349 $1,335 3.30%
$75k-100k 125 $17,025,000 $136,200 $1,253 3.34%
$50k-75k 124 $14,170,000 $114,274 $1,210 3.37%
$150k-250k 33 $6,885,000 $208,636 $1,351 3.09%
$250k+ 7 $3,675,000 $525,000 $1,465 3.38%

Co-op Credit Union lent most frequently to those with incomes in the $50k or less range, with 231 originations. The second most popular income band? $100k-150k, with 126 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 212 $25,900,000 $122,170 $1,242 3.39%
30-36% 143 $19,305,000 $135,000 $1,287 3.39%
<20% 120 $16,200,000 $135,000 $1,208 3.27%
36% 20 $2,960,000 $148,000 $1,460 3.41%
37% 20 $2,810,000 $140,500 $1,201 3.42%
38% 19 $3,015,000 $158,684 $1,469 3.47%
39% 19 $2,705,000 $142,368 $1,052 3.30%
42% 18 $2,540,000 $141,111 $1,407 3.24%
41% 18 $2,300,000 $127,778 $1,063 3.34%
40% 8 $1,120,000 $140,000 $1,239 3.28%
50-60% 5 $2,565,000 $513,000 $1,843 3.24%
>60% 3 $485,000 $161,667 $993 3.49%
46% 3 $525,000 $175,000 $555 3.24%
47% 3 $345,000 $115,000 $846 3.60%
48% 3 $205,000 $68,333 $768 3.46%
43% 2 $460,000 $230,000 $1,620 3.60%
45% 2 $510,000 $255,000 $1,197 3.13%
44% 2 $670,000 $335,000 $1,577 3.60%
49% 1 $245,000 $245,000 $1,811 2.75%

Co-op Credit Union lent most frequently to those with DTI ratios of 20-30%, with 212 originations. The next most common DTI ratio? 30-36%, with 143 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 641 $86,735,000 $135,312 $1,251 3.40%
Not applicable 8 $850,000 $106,250 $0 4.25%
American Indian 6 $630,000 $105,000 $1,594 3.41%
Not provided 2 $420,000 $210,000 $523 3.60%
Black 1 $65,000 $65,000 $1,823 3.25%
Other Pacific Islander 1 $35,000 $35,000 $1,208 2.88%
Other Asian 1 $35,000 $35,000 $0 4.25%

Approval Rates

Total approvals of all applications
96.54%

Co-op 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 origination
92.37%

Co-op Credit Union has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
0.0 2 $60,000 $30,000
595.0 21 $585,000 $27,857
807.01 1 $45,000 $45,000
NA 636 $88,080,000 $138,491

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
660 $88,770,000 $134,500

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 61 $4,715,000 $77,295 $814 3.56%
40-60% 95 $10,545,000 $111,000 $1,010 3.19%
60-80% 249 $36,965,000 $148,454 $1,181 3.35%
80-100% 208 $33,050,000 $158,894 $1,628 3.42%
Over 100% 11 $1,925,000 $175,000 $1,717 3.31%
Under 20% 36 $1,570,000 $43,611 $608 4.10%