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Heritage South Credit Union

Sylacauga, AL

Heritage South Credit Union processed 60 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 35 loans with a 15.0% denial rate. Cash-out Refinancing was the primary loan purpose. Based in Sylacauga, AL. The approval rate of 58.3% 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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness.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 South Credit Union's 58.3% origination rate tells you how often an application turned into funded money; the 15.0% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Debt-to-income ratio, Credit application incomplete, Credit history, which together explain the majority of rejections. Most activity concentrated in Conventional loans (60 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.

60
Applications
35
Originated
15.0%
Denial Rate
$119,333
Avg Loan Amount
Avg Interest Rate: 7.439% Avg Applicant Income: $32,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 60 35 9 $119,333

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for Heritage South Credit Union (LEI: 549300D15L4ETR8E9517) · 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 Approval rates exclude withdrawn / incomplete applications.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
4
Credit application incomplete
3
Credit history
2
Unverifiable information
1

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Cash-out Refinancing 28 22 $109,643
Home Purchase 23 10 $127,174
Refinancing 5 1 $79,000
Other 3 1 $241,667
Home Improvement 1 1 $45,000

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 53 60.4% 13.2%
Black or African American * 5 40.0% 40.0%
Asian * 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 59 59.3% 15.3%

Nearby Lenders in AL

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

Regions Bank

BIRMINGHAM, AL

70,436 apps 29,337 originated 39.6% denied

CSL Financial LLC

Birmingham, AL

10,109 apps 1,011 originated 60.3% denied

Redstone Federal Credit Union

HUNTSVILLE, AL

5,601 apps 3,166 originated 21.9% denied

Tjc Mortgage INC

BIRMINGHAM, AL

2,788 apps 1,704 originated 3.2% denied

All in Credit Union

DOTHAN, AL

2,355 apps 1,018 originated 32.0% denied
Compare Heritage South Credit Union vs Regions Bank →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did Heritage South Credit Union process?
Heritage South Credit Union processed 60 mortgage applications in the 2024 HMDA reporting year. Of these, 35 were originated (approved and funded), 14 were withdrawn by the applicant, and 9 were denied.
What is Heritage South Credit Union's mortgage approval rate?
Heritage South Credit Union has an approval (origination) rate of 58.3%, meaning 58.3% of all applications resulted in a funded mortgage. The denial rate is 15.0%.
What is the average loan amount at Heritage South Credit Union?
The average mortgage loan amount at Heritage South Credit Union is $119,333. The average interest rate is 7.439%. The average applicant income is $32,000.
What are the most common reasons for mortgage denial at Heritage South Credit Union?
The most common reasons for mortgage denial at Heritage South Credit Union are: Debt-to-income ratio, Credit application incomplete, Credit history. In total, 9 applications were denied out of 60 total applications.
What types of mortgage loans does Heritage South Credit Union offer?
Heritage South Credit Union processes Conventional loans. The most common type is Conventional with 60 applications and an average loan amount of $119,333.
What loan purposes does Heritage South Credit Union serve?
Heritage South Credit Union serves the following loan purposes: Cash-out Refinancing (28 applications), Home Purchase (23 applications), Refinancing (5 applications), Other (3 applications), Home Improvement (1 applications). Cash-out Refinancing is the most common purpose.
Where is Heritage South Credit Union located?
Heritage South Credit Union is headquartered in Sylacauga, AL. The lender is identified by LEI 549300D15L4ETR8E9517 in HMDA data.
How does Heritage South Credit Union compare in lending across racial demographics?
Heritage South Credit Union reports demographic lending data under HMDA requirements. White applicants have an approval rate of 60.4% and denial rate of 13.2%; Black or African American applicants have an approval rate of 40.0% and denial rate of 40.0%; 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.