St. Cloud Financial Credit Union
Saint Cloud, MN
St. Cloud Financial Credit Union processed 375 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 321 loans with a 5.6% denial rate. Cash-out Refinancing was the primary loan purpose. Based in Saint Cloud, MN. The approval rate of 85.6% 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. St. Cloud Financial Credit Union processed 375 HMDA-reported mortgage applications in 2024, originating 321 loans and denying 21 for a denial rate of 5.6% (applicants themselves withdrew 33 files before a decision). The average loan amount was $216,040 at a 6.971% average note rate, and applicants self-reported an average income of $35,000. The lender reports under LEI 549300ANTUZH5AQQXR02 from Saint Cloud, MN.
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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. St. Cloud Financial Credit Union's 85.6% origination rate tells you how often an application turned into funded money; the 5.6% 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, Collateral, which together explain the majority of rejections. Most activity concentrated in Conventional loans (367 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.
Lending Activity
| Type | Applications | Originated | Denied | Avg Loan |
|---|---|---|---|---|
| Conventional | 367 | 314 | 21 | $214,728 |
| VA | 5 | 5 | 0 | $297,000 |
| USDA | 2 | 2 | 0 | $265,000 |
| FHA | 1 | 0 | 0 | $195,000 |
Top loan types — St. Cloud Financial Credit Union
Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2023 LAR — application-level mortgage data for St. Cloud Financial Credit Union (LEI: 549300ANTUZH5AQQXR02) · 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
Loan Purpose Breakdown
| Purpose | Applications | Originated | Avg Loan |
|---|---|---|---|
| Cash-out Refinancing | 223 | 186 | $79,126 |
| Home Purchase | 131 | 118 | $267,290 |
| Refinancing | 16 | 13 | $360,000 |
| Home Improvement | 5 | 4 | $4,519,000 |
Geographic Coverage — Lending by Race
Derived race categories as reported under HMDA. Source: CFPB.
| Race | Applications | Approval Rate | Denial Rate |
|---|---|---|---|
| White | 326 | 87.1% | 4.6% |
| Joint | 10 | 80.0% | 10.0% |
| Black or African American | 8 | 50.0% | 37.5% |
| American Indian or Alaska Native | 4 | 75.0% | 25.0% |
| Asian | 1 | 100.0% | 0.0% |
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 | 331 | 87.3% | 5.4% |
| Hispanic or Latino | 7 | 71.4% | 14.3% |
| Joint | 5 | 60.0% | 20.0% |
Nearby Lenders in MN
Other HMDA-reporting lenders in MN with similar activity. Compare any two side-by-side.
Luminate Home Loans, Inc.
Minneapolis, MN
TRUSTONE FINANCIAL CREDIT UNION
PLYMOUTH, MN
WINGS FINANCIAL CREDIT UNION
APPLE VALLEY, MN
Affinity Plus Federal Credit Union
Saint Paul, MN
BLAZE CREDIT UNION
FALCON HEIGHTS, MN
Mortgage Lending Guides
Frequently Asked Questions
How many mortgage applications did St. Cloud Financial Credit Union process?
What is St. Cloud Financial Credit Union's mortgage approval rate?
What is the average loan amount at St. Cloud Financial Credit Union?
What are the most common reasons for mortgage denial at St. Cloud Financial Credit Union?
What types of mortgage loans does St. Cloud Financial Credit Union offer?
What loan purposes does St. Cloud Financial Credit Union serve?
Where is St. Cloud Financial Credit Union located?
How does St. Cloud Financial Credit Union compare in lending across racial demographics?
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.