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Greater Springfield Credit Union

Springfield, MA

Greater Springfield Credit Union processed 163 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 110 loans with a 11.0% denial rate. Cash-out Refinancing was the primary loan purpose. Based in Springfield, MA. The approval rate of 67.5% 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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Greater Springfield Credit Union's 67.5% origination rate tells you how often an application turned into funded money; the 11.0% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Credit history, Debt-to-income ratio, Mortgage insurance denied, which together explain the majority of rejections. Most activity concentrated in Conventional loans (163 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.

163
Applications
110
Originated
11.0%
Denial Rate
$132,975
Avg Loan Amount
Avg Interest Rate: 6.828% Avg Applicant Income: $33,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 163 110 18 $132,975

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for Greater Springfield Credit Union (LEI: 549300SE1WZDU07WPD35) · 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 Approval rates exclude withdrawn / incomplete applications.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

Credit history
11
Debt-to-income ratio
5
Mortgage insurance denied
1
Collateral
1

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Cash-out Refinancing 118 82 $84,068
Home Purchase 36 21 $293,611
Refinancing 9 7 $131,667

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 87 75.9% 8.1%
Black or African American * 30 50.0% 20.0%
Asian * 4 75.0% 0.0%
Joint * 4 50.0% 0.0%
American Indian or Alaska Native * 2 50.0% 50.0%

* 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 101 67.3% 11.9%
Hispanic or Latino * 19 63.2% 15.8%
Joint * 1 100.0% 0.0%

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

Nearby Lenders in 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 Greater Springfield Credit Union vs Digital Federal Credit Union →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did Greater Springfield Credit Union process?
Greater Springfield Credit Union processed 163 mortgage applications in the 2024 HMDA reporting year. Of these, 110 were originated (approved and funded), 32 were withdrawn by the applicant, and 18 were denied.
What is Greater Springfield Credit Union's mortgage approval rate?
Greater Springfield Credit Union has an approval (origination) rate of 67.5%, meaning 67.5% of all applications resulted in a funded mortgage. The denial rate is 11.0%.
What is the average loan amount at Greater Springfield Credit Union?
The average mortgage loan amount at Greater Springfield Credit Union is $132,975. The average interest rate is 6.828%. The average applicant income is $33,000.
What are the most common reasons for mortgage denial at Greater Springfield Credit Union?
The most common reasons for mortgage denial at Greater Springfield Credit Union are: Credit history, Debt-to-income ratio, Mortgage insurance denied. In total, 18 applications were denied out of 163 total applications.
What types of mortgage loans does Greater Springfield Credit Union offer?
Greater Springfield Credit Union processes Conventional loans. The most common type is Conventional with 163 applications and an average loan amount of $132,975.
What loan purposes does Greater Springfield Credit Union serve?
Greater Springfield Credit Union serves the following loan purposes: Cash-out Refinancing (118 applications), Home Purchase (36 applications), Refinancing (9 applications). Cash-out Refinancing is the most common purpose.
Where is Greater Springfield Credit Union located?
Greater Springfield Credit Union is headquartered in Springfield, MA. The lender is identified by LEI 549300SE1WZDU07WPD35 in HMDA data.
How does Greater Springfield Credit Union compare in lending across racial demographics?
Greater Springfield Credit Union reports demographic lending data under HMDA requirements. White applicants have an approval rate of 75.9% and denial rate of 8.1%; Black or African American applicants have an approval rate of 50.0% and denial rate of 20.0%; Asian applicants have an approval rate of 75.0% 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.