Midwest Members Credit Union Mortgage Rates, Fees & Info

Wood River, IL

LEI: 549300PM3R14MRQSOJ39

Tax ID: 37-0661473

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
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Midwest Members Credit Union is a smaller credit union specializing in Cash Out Refi and Home Improvement loans. Midwest Members Credit Union has a high proportion of conventional loans. Their top (well, only) market is St. Louis.

    Midwest Members 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.

    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

    35

    Origination Dollar Volume (All Markets)

    $1,445,000

    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
    ST. LOUIS, MO-IL (FHA|USDA|VA) 34 $1,430,000 $42,059 $0 0.00%
    Outside of Metro Areas 1 $15,000 $15,000 $0 0.00%
    Midwest Members Credit Union's top markets include and St. Louis among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 35 $1,445,000 $41,286 $0 0.00%

    For 2022, Midwest Members Credit Union's most frequently originated type of loan was Conventional, with 35 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 22 $1,040,000 $47,273 $0 0.00%
    Home Improvement 13 $405,000 $31,154 $0 0.00%

    For 2022, Midwest Members Credit Union's most frequently cited loan purpose was Cash Out Refi, with 22 originations. The 2nd most popular reason was Home Improvement, with 13 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 35 $1,445,000 $41,286 $0 0.00%

    For 2022, Midwest Members Credit Union's most frequently cited loan duration was Other, with 35 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 34 $1,340,000 $39,412 $0 0.00%
    $100k-200k 1 $105,000 $105,000 $0 0.00%

    2022 saw Midwest Members Credit Union place emphasis on $100,000 or less loans with 34 originations, totaling $1,340,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 10 $410,000 $41,000 $0 0.00%
    $100k-150k 9 $375,000 $41,667 $0 0.00%
    $50k-75k 6 $260,000 $43,333 $0 0.00%
    $150k-250k 5 $235,000 $47,000 $0 0.00%
    $50k or less 4 $120,000 $30,000 $0 0.00%
    $250k+ 1 $45,000 $45,000 $0 0.00%

    Midwest Members Credit Union lent most frequently to those with incomes in the $75k-100k range, with 10 originations. The second most popular income band? $100k-150k, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 35 $1,445,000 $41,286 $0 0.00%

    Midwest Members Credit Union lent most frequently to those with DTI ratios of Exempt%, with 35 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 34 $1,410,000 $41,471 $0 0.00%
    Black 1 $35,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.50%

    Midwest Members 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
    88.57%

    Midwest Members Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 35 $1,445,000 $41,286

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    35 $1,445,000 $41,286

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    Midwest Loan Services, Inc. Conventional home mortgage Struggling to pay mortgage 1 100.0%