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Black Hills Federal Credit Union

RAPID CITY, SD

Black Hills Federal Credit Union processed 1,766 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 1,019 loans with a 22.9% denial rate. Home Purchase was the primary loan purpose. Based in RAPID CITY, SD. The approval rate of 57.7% 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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Black Hills Federal Credit Union's 57.7% origination rate tells you how often an application turned into funded money; the 22.9% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Debt-to-income ratio, Other, Credit history, which together explain the majority of rejections. Most activity concentrated in Conventional loans (1,645 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.

1,766
Applications
1,019
Originated
22.9%
Denial Rate
$187,656
Avg Loan Amount
Avg Interest Rate: 7.673% Avg Applicant Income: $37,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 1,645 947 387 $180,909
FHA 71 43 10 $271,197
VA 45 28 6 $296,333
USDA 5 1 1 $243,000

Top loan types - Black Hills Federal Credit Union

Top loan types - Black Hills Federal Credit Union Horizontal bar chart of the top 4 items by value (applications). Top loan types - Black Hills Federal Credit Union Top 4 1. Conventional 1,645 2. FHA 71 3. VA 45 4. USDA 5 Top 5 loan types by application volume at Black Hills Federal Credit Union (HMDA 2024). Source: CFPB HMDA loan/application register.

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for Black Hills Federal Credit Union (LEI: 549300M2Z8GR3VL0QQ74) · 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
232
Other
182
Credit history
148
Collateral
63
Credit application incomplete
40
Employment history
12
Unverifiable information
11
Insufficient cash
2

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 560 348 $330,607
Home Improvement 442 296 $94,977
Other 372 167 $72,070
Refinancing 230 140 $133,391
Cash-out Refinancing 162 68 $288,827

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 1,052 64.3% 16.5%
Joint * 39 48.7% 17.9%
American Indian or Alaska Native * 38 42.1% 47.4%
Asian * 10 70.0% 0.0%
Black or African American * 7 42.9% 57.1%
2 or more minority races * 2 100.0% 0.0%
Native Hawaiian or Other Pacific Islander * 1 100.0% 0.0%

* 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 1,079 63.0% 18.2%
Joint * 29 65.5% 17.2%
Hispanic or Latino * 19 47.4% 26.3%

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

Nearby Lenders in SD

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

Plains Commerce Bank

Hoven, SD

23,164 apps 13,605 originated 3.1% denied

First Bank & Trust

Sioux Falls, SD

1,951 apps 1,358 originated 12.6% denied

Bankwest, INC.

PIERRE, SD

1,663 apps 636 originated 38.6% denied

First Premier Bank

SIOUX FALLS, SD

1,495 apps 909 originated 19.6% denied

First Dakota National Bak

Yankton, SD

708 apps 573 originated 5.9% denied
Compare Black Hills Federal Credit Union vs Plains Commerce Bank →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did Black Hills Federal Credit Union process?
Black Hills Federal Credit Union processed 1,766 mortgage applications in the 2024 HMDA reporting year. Of these, 1,019 were originated (approved and funded), 229 were withdrawn by the applicant, and 404 were denied.
What is Black Hills Federal Credit Union's mortgage approval rate?
Black Hills Federal Credit Union has an approval (origination) rate of 57.7%, meaning 57.7% of all applications resulted in a funded mortgage. The denial rate is 22.9%.
What is the average loan amount at Black Hills Federal Credit Union?
The average mortgage loan amount at Black Hills Federal Credit Union is $187,656. The average interest rate is 7.673%. The average applicant income is $37,000.
What are the most common reasons for mortgage denial at Black Hills Federal Credit Union?
The most common reasons for mortgage denial at Black Hills Federal Credit Union are: Debt-to-income ratio, Other, Credit history. In total, 404 applications were denied out of 1,766 total applications.
What types of mortgage loans does Black Hills Federal Credit Union offer?
Black Hills Federal Credit Union processes Conventional, FHA, VA, USDA loans. The most common type is Conventional with 1,645 applications and an average loan amount of $180,909.
What loan purposes does Black Hills Federal Credit Union serve?
Black Hills Federal Credit Union serves the following loan purposes: Home Purchase (560 applications), Home Improvement (442 applications), Other (372 applications), Refinancing (230 applications), Cash-out Refinancing (162 applications). Home Purchase is the most common purpose.
Where is Black Hills Federal Credit Union located?
Black Hills Federal Credit Union is headquartered in RAPID CITY, SD. The lender is identified by LEI 549300M2Z8GR3VL0QQ74 in HMDA data.
How does Black Hills Federal Credit Union compare in lending across racial demographics?
Black Hills Federal Credit Union reports demographic lending data under HMDA requirements. White applicants have an approval rate of 64.3% and denial rate of 16.5%; Joint applicants have an approval rate of 48.7% and denial rate of 17.9%; American Indian or Alaska Native applicants have an approval rate of 42.1% and denial rate of 47.4%. 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.