Public Employees Credit Union Mortgage Rates, Fees & Info

Austin, TX

LEI: 549300QMMJSALZQVP721

Tax ID: 74-1196893

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

Review & Overview

Public Employees Credit Union is a smaller credit union specializing in Cash Out Refi and Home Improvement loans. Public Employees Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Austin, Waco, and Fredericksburg among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

Public Employees Credit Union has a below 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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SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
15 Year Conventional Purchase	5.68%	11/11/24
15 Year Conventional Refi	5.68%	11/11/24
15 Year Cash-out Refi	5.68%	11/11/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Public Employees Credit Union Mortgage Calculator

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The default purchase price is the median sales price across the US for 2022Q4, per FRED.

Originations

Origination Dollar Volume (All Markets)

$6,625,000

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
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA\|USDA\|VA)	79	$5,825,000	$73,734	$905	4.16%
Outside of Metro Areas	6	$700,000	$116,667	$3,622	4.07%
WACO, TX (FHA\|USDA\|VA)	1	$65,000	$65,000	$0	3.79%
Fredericksburg, TX (FHA\|USDA\|VA)	1	$35,000	$35,000	$0	4.39%

Public Employees Credit Union's top markets include Austin, Waco, and Fredericksburg among others.

Their top states include:

Texas (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	87	$6,625,000	$76,149	$1,114	4.15%

For 2018, Public Employees Credit Union's most frequently originated type of loan was Conventional, with 87 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Cash Out Refi	44	$3,760,000	$85,455	$1,649	4.16%
Home Improvement	41	$2,665,000	$65,000	$691	4.16%
Home Purchase	1	$105,000	$105,000	$0	4.49%
Refi	1	$95,000	$95,000	$437	3.59%

For 2018, Public Employees Credit Union's most frequently cited loan purpose was Cash Out Refi, with 44 originations. The 2nd most popular reason was Home Improvement, with 41 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
10 Year	44	$2,650,000	$60,227	$678	3.96%
15 Year	21	$2,205,000	$105,000	$2,197	4.24%
20 Year	14	$1,380,000	$98,571	$2,042	4.99%
5 Year	8	$390,000	$48,750	$417	3.55%

For 2018, Public Employees Credit Union's most frequently cited loan duration was 10 Year, with 44 originations. The 2nd most popular length was 15 Year, with 21 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
3-4%	53	$3,925,000	$74,057
4-5%	25	$2,065,000	$82,600
5-6%	7	$615,000	$87,857
6-7%	2	$20,000	$10,000

During 2018, Public Employees Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 53 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	71	$3,835,000	$54,014	$422	4.10%
$100k-200k	11	$1,285,000	$116,818	$1,229	4.54%
$200k-400k	3	$665,000	$221,667	$2,510	4.18%
$400k-600k	2	$840,000	$420,000	$3,622	3.89%

2018 saw Public Employees Credit Union place emphasis on $100,000 or less loans with 71 originations, totaling $3,835,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$150k-250k	18	$1,850,000	$102,778	$2,153	4.20%
$50k-75k	18	$910,000	$50,556	$0	4.13%
$100k-150k	17	$1,395,000	$82,059	$766	4.13%
$75k-100k	12	$770,000	$64,167	$424	4.00%
$250k+	11	$1,165,000	$105,909	$0	4.23%
$50k or less	11	$535,000	$48,636	$0	4.25%

Public Employees Credit Union lent most frequently to those with incomes in the $150k-250k range, with 18 originations. The second most popular income band? $50k-75k, with 18 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	25	$2,565,000	$102,600	$1,652	3.94%
<20%	24	$1,540,000	$64,167	$427	3.96%
30-36%	21	$1,345,000	$64,048	$417	4.19%
40%	3	$235,000	$78,333	$0	4.66%
39%	2	$310,000	$155,000	$0	5.12%
37%	2	$190,000	$95,000	$2,042	4.94%
38%	2	$130,000	$65,000	$0	3.89%
42%	2	$130,000	$65,000	$0	4.65%
43%	2	$60,000	$30,000	$0	5.09%
41%	2	$50,000	$25,000	$0	3.94%
36%	1	$65,000	$65,000	$0	3.89%
50-60%	1	$5,000	$5,000	$0	6.87%

Public Employees Credit Union lent most frequently to those with DTI ratios of 20-30%, with 25 originations. The next most common DTI ratio? <20%, with 24 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	76	$5,820,000	$76,579	$1,172	4.08%
Black	8	$440,000	$55,000	$0	4.85%
Asian	3	$365,000	$121,667	$417	4.04%

Approval Rates

Total approvals of all applications
65.26%

Public Employees Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.

Pick Rate

Approvals leading to origination
67.82%

Public Employees Credit Union 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
NA	87	$6,625,000	$76,149

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Single Family (1-4 Units):Site-Built	87	$6,625,000	$76,149

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	30	$2,400,000	$80,000	$691	4.06%
40-60%	4	$600,000	$150,000	$2,488	4.45%
60-80%	4	$940,000	$235,000	$3,077	4.01%
80-100%	1	$405,000	$405,000	$0	3.89%
Under 20%	48	$2,280,000	$47,500	$422	4.20%

Complaints

Bank Name	Product	Issue	2018 CPFB Complaints	% of Total Issues
PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION	Conventional home mortgage	Closing on a mortgage	2	40.0%
PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION	Conventional home mortgage	Trouble during payment process	2	40.0%
PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION	Other type of mortgage	Closing on a mortgage	1	20.0%