Educators Credit Union Mortgage Rates, Fees & Info
WACO, TXLEI: 8945002AZSML1PBU6N20
Tax ID: 74-1129327
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Mortgage Data
Review & Overview
Educators Credit Union is a smaller credit union specializing in Home Improvement and Cash Out Refi loans. Educators Credit Union has a high proportion of conventional loans. Their top two markets are Waco and Killeen .Educators Credit Union has an above average approval rate when compared to the average across all lenders.
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Originations
39Origination Dollar Volume (All Markets)
$3,545,000Top 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 |
|---|---|---|---|---|---|
| WACO, TX (FHA|USDA|VA) | 36 | $3,270,000 | $90,833 | $0 | 0.00% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 3 | $275,000 | $91,667 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 39 | $3,545,000 | $90,897 | $0 | 0.00% |
For 2023, Educators Credit Union's most frequently originated type of loan was Conventional, with 39 originations.
Loan Reason
For 2023, Educators Credit Union's most frequently cited loan purpose was Home Improvement, with 20 originations. The 2nd most popular reason was Cash Out Refi, with 15 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 39 | $3,545,000 | $90,897 | $0 | 0.00% |
For 2023, Educators Credit Union's most frequently cited loan duration was Other, with 39 originations.
Loan Sizing
2023 saw Educators Credit Union place emphasis on $100,000 or less loans with 28 originations, totaling $1,560,000 in origination value.
Applicant Income
Educators Credit Union lent most frequently to those with incomes in the $100k-150k range, with 14 originations. The second most popular income band? $75k-100k, with 9 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 36 | $3,350,000 | $93,056 | $0 | 0.00% |
| Black | 2 | $110,000 | $55,000 | $0 | 0.00% |
| American Indian | 1 | $85,000 | $85,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications100.00%
Educators 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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 39 | $3,545,000 | $90,897 |