Members Choice Wv Federal Credit Union Mortgage Rates, Fees & Info
Charleston, WVLEI: 8945004TOFQ849QXKH05
Tax ID: 55-0357727
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Mortgage Data
Review & Overview
Members Choice Wv Federal Credit Union is a smaller credit union specializing in Home Improvement and Home Purchase 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
26Origination Dollar Volume (All Markets)
$1,370,000Top 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) | 6 | $690,000 | $115,000 | $0 | 0.00% |
| CHARLESTON, WV (FHA|USDA|VA) | 20 | $680,000 | $34,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 26 | $1,370,000 | $52,692 | $0 | 0.00% |
For 2019, Members Choice Wv Federal Credit Union's most frequently originated type of loan was Conventional, with 26 originations.
Loan Reason
For 2019, Members Choice Wv Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 21 originations. The 2nd most popular reason was Cash Out Refi, with 3 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 26 | $1,370,000 | $52,692 | $0 | 0.00% |
For 2019, Members Choice Wv Federal Credit Union's most frequently cited loan duration was Other, with 26 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 23 | $575,000 | $25,000 | $0 | 0.00% |
| $100k-200k | 2 | $250,000 | $125,000 | $0 | 0.00% |
| $400k-600k | 1 | $545,000 | $545,000 | $0 | 0.00% |
2019 saw Members Choice Wv Federal Credit Union place emphasis on $100,000 or less loans with 23 originations, totaling $575,000 in origination value.
Applicant Income
Members Choice Wv Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 6 originations. The second most popular income band? $50k-75k, with 6 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 24 | $1,330,000 | $55,417 | $0 | 0.00% |
| Black | 2 | $40,000 | $20,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications96.30%
Members Choice Wv Federal 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 | 26 | $1,370,000 | $52,692 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 26 | $1,370,000 | $52,692 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MEMBER MORTGAGE SERVICES | FHA mortgage | Trouble during payment process | 1 | 100.0% |