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Central One Federal Credit Union

Shrewsbury, MA

Central One Federal Credit Union processed 860 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 595 loans with a 14.9% denial rate. Home Improvement was the primary loan purpose. Based in Shrewsbury, MA. The approval rate of 69.2% 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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Central One Federal Credit Union's 69.2% origination rate tells you how often an application turned into funded money; the 14.9% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Collateral, Debt-to-income ratio, Other, which together explain the majority of rejections. Most activity concentrated in Conventional loans (859 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.

860
Applications
595
Originated
14.9%
Denial Rate
$200,174
Avg Loan Amount
Avg Interest Rate: 7.387% Avg Applicant Income: $36,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 859 594 128 $200,285
FHA 1 1 0 $105,000

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for Central One Federal Credit Union (LEI: 549300MUTFJQGRZJH019) · 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 Approval rates exclude withdrawn / incomplete applications.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

Collateral
77
Debt-to-income ratio
73
Other
18
Credit history
14
Unverifiable information
4
Insufficient cash
1
Mortgage insurance denied
1

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Improvement 398 286 $149,422
Other 229 149 $144,694
Home Purchase 132 86 $424,924
Refinancing 77 59 $213,182
Cash-out Refinancing 24 15 $293,333

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 695 72.4% 13.1%
Asian 73 53.4% 21.9%
Black or African American * 29 48.3% 37.9%
Joint * 12 83.3% 8.3%
American Indian or Alaska Native * 5 20.0% 80.0%
2 or more minority races * 1 0.0% 100.0%

* 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 773 69.9% 15.3%
Hispanic or Latino * 22 59.1% 27.3%
Joint * 14 85.7% 0.0%

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

Nearby Lenders in MA

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

Digital Federal Credit Union

Marlborough, MA

11,503 apps 4,232 originated 23.0% denied

Leader Bank NA

Arlington, MA

6,683 apps 5,398 originated 2.6% denied

Rockland Trust Bank

BROCKTON, MA

5,681 apps 2,932 originated 30.2% denied

Eastern Bank

Lynn, MA

5,146 apps 3,130 originated 29.4% denied

Cape Cod Five Cents Savings Bank

HYANNIS, MA

2,836 apps 2,014 originated 10.2% denied
Compare Central One Federal Credit Union vs Digital Federal Credit Union →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did Central One Federal Credit Union process?
Central One Federal Credit Union processed 860 mortgage applications in the 2024 HMDA reporting year. Of these, 595 were originated (approved and funded), 128 were withdrawn by the applicant, and 128 were denied.
What is Central One Federal Credit Union's mortgage approval rate?
Central One Federal Credit Union has an approval (origination) rate of 69.2%, meaning 69.2% of all applications resulted in a funded mortgage. The denial rate is 14.9%.
What is the average loan amount at Central One Federal Credit Union?
The average mortgage loan amount at Central One Federal Credit Union is $200,174. The average interest rate is 7.387%. The average applicant income is $36,000.
What are the most common reasons for mortgage denial at Central One Federal Credit Union?
The most common reasons for mortgage denial at Central One Federal Credit Union are: Collateral, Debt-to-income ratio, Other. In total, 128 applications were denied out of 860 total applications.
What types of mortgage loans does Central One Federal Credit Union offer?
Central One Federal Credit Union processes Conventional, FHA loans. The most common type is Conventional with 859 applications and an average loan amount of $200,285.
What loan purposes does Central One Federal Credit Union serve?
Central One Federal Credit Union serves the following loan purposes: Home Improvement (398 applications), Other (229 applications), Home Purchase (132 applications), Refinancing (77 applications), Cash-out Refinancing (24 applications). Home Improvement is the most common purpose.
Where is Central One Federal Credit Union located?
Central One Federal Credit Union is headquartered in Shrewsbury, MA. The lender is identified by LEI 549300MUTFJQGRZJH019 in HMDA data.
How does Central One Federal Credit Union compare in lending across racial demographics?
Central One Federal Credit Union reports demographic lending data under HMDA requirements. White applicants have an approval rate of 72.4% and denial rate of 13.1%; Asian applicants have an approval rate of 53.4% and denial rate of 21.9%; Black or African American applicants have an approval rate of 48.3% and denial rate of 37.9%. 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.