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AERO Federal Credit Union

Glendale, AZ

AERO Federal Credit Union processed 287 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 206 loans with a 15.3% denial rate. Other was the primary loan purpose. Based in Glendale, AZ. The approval rate of 71.8% reflects originated loans as a share of all applications.

Why approval and denial rates diverge. Approval (origination) rate and denial rate do not sum to 100% - HMDA records several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. AERO Federal Credit Union's 71.8% origination rate tells you how often an application turned into funded money; the 15.3% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Debt-to-income ratio, Credit history, Collateral, which together explain the majority of rejections. Most activity concentrated in Conventional loans (287 applications).

How to read this page. These figures are aggregate HMDA disclosures, they describe this lender's overall 2024 book, not your individual odds. Approval and denial rates are shaped by the applicant mix a lender actually receives: credit profile, loan-to-value, debt-to-income, property type, and geography. A lower denial rate at one lender versus another does not necessarily mean easier underwriting, it often reflects borrower self-selection and loan-product specialization. This page is informational data reporting, not financial, legal, or mortgage advice. Compare multiple lenders, read your Loan Estimate carefully, and consult a licensed mortgage professional before applying. Data reflects 2024 disclosures published by the CFPB in 2025.

287
Applications
206
Originated
15.3%
Denial Rate
$81,969
Avg Loan Amount
Avg Interest Rate: 6.794% Avg Applicant Income: $31,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 287 206 44 $81,969

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for AERO Federal Credit Union (LEI: 54930072H82Z2RZW3210) · 2024 HMDA reports filed annually; covers applications received during the calendar year. Approval rates exclude withdrawn / incomplete applications. Denial reasons are lender-reported.

Denial Analysis

Debt-to-income ratio
23
Credit history
15
Collateral
11
Other
5
Unverifiable information
4
Employment history
2
Insufficient cash
1

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Other 198 136 $82,727
Home Improvement 89 70 $80,281

Geographic Coverage — Lending by Race

Derived race categories as reported under HMDA. Source: CFPB.

Race Applications Approval Rate Denial Rate
White 201 95.5% 1.5%
Black or African American * 7 28.6% 57.1%
Joint * 7 100.0% 0.0%
Asian * 5 100.0% 0.0%
Native Hawaiian or Other Pacific Islander * 4 0.0% 25.0%

* Fewer than 50 applications -- percentages for this group have wide statistical uncertainty and should not be read as precise.

Lending by Ethnicity

Hispanic/Latino is an ethnicity, not a race. Shown separately per U.S. Census Bureau standards.

Ethnicity Applications Approval Rate Denial Rate
Not Hispanic or Latino 159 95.0% 1.9%
Hispanic or Latino * 41 95.1% 2.4%
Joint * 16 100.0% 0.0%

* Fewer than 50 applications -- percentages for this group have wide statistical uncertainty and should not be read as precise.

Nearby Lenders in AZ

Other HMDA-reporting lenders in AZ with similar activity. Compare any two side-by-side.

The Loan Store, Inc

Tucson, AZ

37,522 apps 23,548 originated 12.7% denied

Desert Financial Credit Union

Phoenix, AZ

14,881 apps 8,747 originated 30.3% denied

V.I.P. Mortgage, INC.

SCOTTSDALE, AZ

10,272 apps 6,989 originated 2.0% denied

Geneva Financial LLC

Chandler, AZ

9,015 apps 5,938 originated 2.7% denied

Nova Financial & Investment Corporation

Tucson, AZ

6,917 apps 4,748 originated 5.3% denied
Compare AERO Federal Credit Union vs The Loan Store, Inc →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did AERO Federal Credit Union process?
AERO Federal Credit Union processed 287 mortgage applications in the 2024 HMDA reporting year. Of these, 206 were originated (approved and funded), 37 were withdrawn by the applicant, and 44 were denied.
What is AERO Federal Credit Union's mortgage approval rate?
AERO Federal Credit Union has an approval (origination) rate of 71.8%, meaning 71.8% of all applications resulted in a funded mortgage. The denial rate is 15.3%.
What is the average loan amount at AERO Federal Credit Union?
The average mortgage loan amount at AERO Federal Credit Union is $81,969. The average interest rate is 6.794%. The average applicant income is $31,000.
What are the most common reasons for mortgage denial at AERO Federal Credit Union?
The most common reasons for mortgage denial at AERO Federal Credit Union are: Debt-to-income ratio, Credit history, Collateral. In total, 44 applications were denied out of 287 total applications.
What types of mortgage loans does AERO Federal Credit Union offer?
AERO Federal Credit Union processes Conventional loans. The most common type is Conventional with 287 applications and an average loan amount of $81,969.
What loan purposes does AERO Federal Credit Union serve?
AERO Federal Credit Union serves the following loan purposes: Other (198 applications), Home Improvement (89 applications). Other is the most common purpose.
Where is AERO Federal Credit Union located?
AERO Federal Credit Union is headquartered in Glendale, AZ. The lender is identified by LEI 54930072H82Z2RZW3210 in HMDA data.
How does AERO Federal Credit Union compare in lending across racial demographics?
AERO Federal Credit Union reports demographic lending data under HMDA requirements. White applicants have an approval rate of 95.5% and denial rate of 1.5%; Black or African American applicants have an approval rate of 28.6% and denial rate of 57.1%; Joint applicants have an approval rate of 100.0% and denial rate of 0.0%. This data reflects derived race categories as reported by applicants.

Data Sources

Data as of 2024. Source: Consumer Financial Protection Bureau (CFPB), Home Mortgage Disclosure Act (HMDA) 2024 Snapshot.

Data from FFIEC / CFPB HMDA 2024 Snapshot National Loan-Level Dataset. Demographic data reflects derived categories as reported by applicants. Denial rates include all application outcomes. This data is provided for informational purposes only.

Read our methodology - how this data is sourced, computed, and verified.

Every figure on PlainLender is rendered directly from CFPB HMDA federal source data, no number is typed in by an editor. This page draws directly on CFPB HMDA federal source data, no figure is typed in by an editor. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error.