PlainLender

Northern Credit Union

Watertown, NY

Northern Credit Union processed 972 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 702 loans with a 17.2% denial rate. Other was the primary loan purpose. Based in Watertown, NY. The approval rate of 72.2% reflects originated loans as a share of all applications. Below you will find a breakdown by loan type, loan purpose, denial reasons, and demographic lending patterns as required by the Home Mortgage Disclosure Act.

Portfolio scale. Northern Credit Union processed 972 HMDA-reported mortgage applications in 2024, originating 702 loans and denying 167 for a denial rate of 17.2% (applicants themselves withdrew 39 files before a decision). The average loan amount was $96,986 at a 6.464% average note rate, and applicants self-reported an average income of $37,000. The lender reports under LEI 5493006Z1T521ODWBA53 from Watertown, NY.

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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Northern Credit Union's 72.2% origination rate tells you how often an application turned into funded money; the 17.2% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Debt-to-income ratio, Credit history, Collateral, which together explain the majority of rejections. Most activity concentrated in Conventional loans (935 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.

972
Applications
702
Originated
17.2%
Denial Rate
$96,986
Avg Loan Amount
Avg Interest Rate: 6.464% Avg Applicant Income: $37,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 935 675 163 $94,369
FHA 30 21 4 $142,667
VA 7 6 0 $250,714

Top loan types — Northern Credit Union

Top loan types — Northern Credit Union Horizontal bar chart of the top 3 items by value (applications). Top loan types — Northern Credit Union Top 3 1. Conventional 935 2. FHA 30 3. VA 7 Top 5 loan types by application volume at Northern Credit Union (HMDA 2023). Source: CFPB HMDA loan/application register.

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2023 LAR — application-level mortgage data for Northern Credit Union (LEI: 5493006Z1T521ODWBA53) · 2023 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
80
Credit history
75
Collateral
51
Other
26
Employment history
3
Unverifiable information
2
Insufficient cash
1

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Other 344 228 $67,733
Home Improvement 275 185 $60,491
Home Purchase 197 169 $177,437
Refinancing 126 96 $105,794
Cash-out Refinancing 30 24 $201,667

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 824 72.5% 17.0%
Black or African American 11 27.3% 45.5%
Joint 10 60.0% 20.0%
Asian 6 66.7% 33.3%
American Indian or Alaska Native 3 33.3% 66.7%

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 823 72.4% 17.0%
Hispanic or Latino 16 37.5% 43.8%
Joint 9 66.7% 22.2%

Nearby Lenders in NY

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

Citibank, NA

New York, NY

54,575 apps 14,104 originated 8.6% denied

M&T BANK

BUFFALO, NY

36,377 apps 20,743 originated 30.9% denied

Loan Funder LLC

New York, NY

23,955 apps 10,690 originated 11.6% denied

BETHPAGE FEDERAL CREDIT UNION

BETHPAGE, NY

21,186 apps 9,086 originated 44.3% denied

Better Mortgage Corporation

New York, NY

18,219 apps 5,450 originated 11.3% denied
Compare Northern Credit Union vs Citibank, NA →

Mortgage Lending Guides

Why Mortgages Get Denied
Common denial reasons and how to improve your chances
Comparing Mortgage Lenders
What to look for when choosing a mortgage lender
Getting the Best Mortgage Rate
Strategies for securing the lowest interest rate
Understanding HMDA Data
How to read and interpret mortgage disclosure data
Denial Rates by Demographics
Demographic patterns in mortgage approval and denial

Explore More Data

Bank Financial Data → Credit Union Data → Financial Advisor Lookup → Home Insurance Costs → Property Tax Data → Rent Price Data →

Frequently Asked Questions

How many mortgage applications did Northern Credit Union process?
Northern Credit Union processed 972 mortgage applications in the 2023 HMDA reporting year. Of these, 702 were originated (approved and funded), 39 were withdrawn by the applicant, and 167 were denied.
What is Northern Credit Union's mortgage approval rate?
Northern Credit Union has an approval (origination) rate of 72.2%, meaning 72.2% of all applications resulted in a funded mortgage. The denial rate is 17.2%.
What is the average loan amount at Northern Credit Union?
The average mortgage loan amount at Northern Credit Union is $96,986. The average interest rate is 6.464%. The average applicant income is $37,000.
What are the most common reasons for mortgage denial at Northern Credit Union?
The most common reasons for mortgage denial at Northern Credit Union are: Debt-to-income ratio, Credit history, Collateral. In total, 167 applications were denied out of 972 total applications.
What types of mortgage loans does Northern Credit Union offer?
Northern Credit Union processes Conventional, FHA, VA loans. The most common type is Conventional with 935 applications and an average loan amount of $94,369.
What loan purposes does Northern Credit Union serve?
Northern Credit Union serves the following loan purposes: Other (344 applications), Home Improvement (275 applications), Home Purchase (197 applications), Refinancing (126 applications), Cash-out Refinancing (30 applications). Other is the most common purpose.
Where is Northern Credit Union located?
Northern Credit Union is headquartered in Watertown, NY. The lender is identified by LEI 5493006Z1T521ODWBA53 in HMDA data.
How does Northern Credit Union compare in lending across racial demographics?
Northern Credit Union reports demographic lending data under HMDA requirements. White applicants have an approval rate of 72.5% and denial rate of 17.0%; Black or African American applicants have an approval rate of 27.3% and denial rate of 45.5%; Joint applicants have an approval rate of 60.0% and denial rate of 20.0%. 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.