PlainLender

Heritage Grove Federal Credit Union

Salem, OR

Heritage Grove Federal Credit Union processed 39 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 31 loans with a 15.4% denial rate. Home Improvement was the primary loan purpose. Based in Salem, OR. The approval rate of 79.5% 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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Heritage Grove Federal Credit Union's 79.5% origination rate tells you how often an application turned into funded money; the 15.4% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Other, Credit history, Collateral, which together explain the majority of rejections. Most activity concentrated in Conventional loans (39 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.

39
Applications
31
Originated
15.4%
Denial Rate
$104,231
Avg Loan Amount
Avg Interest Rate: 8.532% Avg Applicant Income: $30,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 39 31 6 $104,231

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for Heritage Grove Federal Credit Union (LEI: 549300GL7DLQR39MW179) · 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 Approval rates exclude withdrawn / incomplete applications.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

Other
4
Credit history
3
Collateral
2
Debt-to-income ratio
1
Insufficient cash
1

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Improvement 14 14 $46,429
Other 13 10 $91,923
Home Purchase 7 4 $192,143
Refinancing 3 2 $191,667
Cash-out Refinancing 2 1 $150,000

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White * 30 86.7% 10.0%
American Indian or Alaska Native * 1 100.0% 0.0%
Asian * 1 100.0% 0.0%
Black or African American * 1 100.0% 0.0%
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.

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 * 28 92.9% 3.6%
Hispanic or Latino * 6 50.0% 50.0%
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 OR

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

OnPoint Community Credit Union

Portland, OR

10,400 apps 7,152 originated 17.4% denied

Umpqua Bank

PORTLAND, OR

8,064 apps 4,989 originated 20.1% denied

First Technology Credit Union

Beaverton, OR

6,270 apps 3,364 originated 14.7% denied

Rogue Credit Union

MEDFORD, OR

2,752 apps 1,802 originated 12.1% denied

Selco Community Credit Union

SPRINGFIELD, OR

2,086 apps 1,226 originated 27.1% denied
Compare Heritage Grove Federal Credit Union vs OnPoint Community Credit Union →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did Heritage Grove Federal Credit Union process?
Heritage Grove Federal Credit Union processed 39 mortgage applications in the 2024 HMDA reporting year. Of these, 31 were originated (approved and funded), 2 were withdrawn by the applicant, and 6 were denied.
What is Heritage Grove Federal Credit Union's mortgage approval rate?
Heritage Grove Federal Credit Union has an approval (origination) rate of 79.5%, meaning 79.5% of all applications resulted in a funded mortgage. The denial rate is 15.4%.
What is the average loan amount at Heritage Grove Federal Credit Union?
The average mortgage loan amount at Heritage Grove Federal Credit Union is $104,231. The average interest rate is 8.532%. The average applicant income is $30,000.
What are the most common reasons for mortgage denial at Heritage Grove Federal Credit Union?
The most common reasons for mortgage denial at Heritage Grove Federal Credit Union are: Other, Credit history, Collateral. In total, 6 applications were denied out of 39 total applications.
What types of mortgage loans does Heritage Grove Federal Credit Union offer?
Heritage Grove Federal Credit Union processes Conventional loans. The most common type is Conventional with 39 applications and an average loan amount of $104,231.
What loan purposes does Heritage Grove Federal Credit Union serve?
Heritage Grove Federal Credit Union serves the following loan purposes: Home Improvement (14 applications), Other (13 applications), Home Purchase (7 applications), Refinancing (3 applications), Cash-out Refinancing (2 applications). Home Improvement is the most common purpose.
Where is Heritage Grove Federal Credit Union located?
Heritage Grove Federal Credit Union is headquartered in Salem, OR. The lender is identified by LEI 549300GL7DLQR39MW179 in HMDA data.
How does Heritage Grove Federal Credit Union compare in lending across racial demographics?
Heritage Grove Federal Credit Union reports demographic lending data under HMDA requirements. White applicants have an approval rate of 86.7% and denial rate of 10.0%; American Indian or Alaska Native applicants have an approval rate of 100.0% and denial rate of 0.0%; Asian 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.