Co-op Credit Union Mortgage Rates, Fees & Info
Black River Falls, WILEI: 549300HZKPV04SFK9K27
Tax ID: 39-0745853
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage 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
660Origination Dollar Volume (All Markets)
$88,770,000Awards
CO-OP Credit Union - 2021
CO-OP Credit Union is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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 applications96.54%
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 origination92.37%
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% |
