Members Choice Wv Federal Credit Union Mortgage Rates, Fees & Info
Charleston, WVLEI: 8945004TOFQ849QXKH05
Tax ID: 55-0357727
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Members Choice Wv Federal Credit Union is a smaller credit union specializing in Home Improvement and Cash Out Refi loans. Members Choice Wv Federal Credit Union has a high proportion of conventional loans. Their top two markets are Huntington and Charleston .Members Choice Wv Federal Credit Union has an above average approval rate when compared to the average across all lenders.
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Originations
29Origination Dollar Volume (All Markets)
$1,945,000Top 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 |
|---|---|---|---|---|---|
| HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) | 1 | $1,125,000 | $1,125,000 | $0 | 0.00% |
| CHARLESTON, WV (FHA|USDA|VA) | 28 | $820,000 | $29,286 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 29 | $1,945,000 | $67,069 | $0 | 0.00% |
For 2023, Members Choice Wv Federal Credit Union's most frequently originated type of loan was Conventional, with 29 originations.
Loan Reason
For 2023, Members Choice Wv Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 20 originations. The 2nd most popular reason was Cash Out Refi, with 6 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 29 | $1,945,000 | $67,069 | $0 | 0.00% |
For 2023, Members Choice Wv Federal Credit Union's most frequently cited loan duration was Other, with 29 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 27 | $715,000 | $26,481 | $0 | 0.00% |
| $100k-200k | 1 | $105,000 | $105,000 | $0 | 0.00% |
| $1MM+ | 1 | $1,125,000 | $1,125,000 | $0 | 0.00% |
2023 saw Members Choice Wv Federal Credit Union place emphasis on $100,000 or less loans with 27 originations, totaling $715,000 in origination value.
Applicant Income
Members Choice Wv Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 8 originations. The second most popular income band? $50k or less, with 7 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 26 | $1,860,000 | $71,538 | $0 | 0.00% |
| Black | 3 | $85,000 | $28,333 | $0 | 0.00% |
Approval Rates
Total approvals of all applications93.55%
Members Choice Wv Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 29 | $1,945,000 | $67,069 |