PlainLender

STATE EMPLOYEES CREDIT UNION

SANTA FE, NM

STATE EMPLOYEES CREDIT UNION processed 384 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 244 loans with a 12.5% denial rate. Cash-out Refinancing was the primary loan purpose. Based in SANTA FE, NM. The approval rate of 63.5% 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. STATE EMPLOYEES CREDIT UNION processed 384 HMDA-reported mortgage applications in 2024, originating 244 loans and denying 48 for a denial rate of 12.5% (applicants themselves withdrew 41 files before a decision). The average loan amount was $141,979 at a 7.682% average note rate, and applicants self-reported an average income of $33,000. The lender reports under LEI 549300248R1MFWPWXA09 from SANTA FE, NM.

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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. STATE EMPLOYEES CREDIT UNION's 63.5% origination rate tells you how often an application turned into funded money; the 12.5% 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 (384 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.

384
Applications
244
Originated
12.5%
Denial Rate
$141,979
Avg Loan Amount
Avg Interest Rate: 7.682% Avg Applicant Income: $33,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 384 244 48 $141,979

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2023 LAR — application-level mortgage data for STATE EMPLOYEES CREDIT UNION (LEI: 549300248R1MFWPWXA09) · 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
25
Credit history
14
Collateral
12
Insufficient cash
3
Unverifiable information
2
Employment history
1

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Cash-out Refinancing 138 106 $131,159
Home Purchase 87 43 $212,701
Refinancing 87 42 $139,138
Home Improvement 71 53 $80,493
Other 1 0 $95,000

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 357 65.5% 12.6%
Asian 4 0.0% 25.0%
Joint 4 50.0% 0.0%
American Indian or Alaska Native 3 33.3% 33.3%
2 or more minority races 2 0.0% 0.0%
Black or African American 1 0.0% 100.0%

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
Hispanic or Latino 212 60.9% 14.6%
Not Hispanic or Latino 137 69.3% 10.2%
Joint 26 57.7% 7.7%

Nearby Lenders in NM

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

NUSENDA FEDERAL CREDIT UNION

ALBUQUERQUE, NM

3,080 apps 1,930 originated 15.5% denied

SUNWARD

ALBUQUERQUE, NM

2,310 apps 1,464 originated 8.5% denied

KIRTLAND FEDERAL CREDIT UNION

ALBUQUERQUE, NM

787 apps 439 originated 27.4% denied

Sandia Area Federal Credit Uni

ALBUQUERQUE, NM

730 apps 425 originated 24.4% denied

U.S. Eagle Federal Credit Union

Albuquerque, NM

530 apps 352 originated 15.1% denied
Compare STATE EMPLOYEES CREDIT UNION vs NUSENDA FEDERAL CREDIT UNION →

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 STATE EMPLOYEES CREDIT UNION process?
STATE EMPLOYEES CREDIT UNION processed 384 mortgage applications in the 2023 HMDA reporting year. Of these, 244 were originated (approved and funded), 41 were withdrawn by the applicant, and 48 were denied.
What is STATE EMPLOYEES CREDIT UNION's mortgage approval rate?
STATE EMPLOYEES CREDIT UNION has an approval (origination) rate of 63.5%, meaning 63.5% of all applications resulted in a funded mortgage. The denial rate is 12.5%.
What is the average loan amount at STATE EMPLOYEES CREDIT UNION?
The average mortgage loan amount at STATE EMPLOYEES CREDIT UNION is $141,979. The average interest rate is 7.682%. The average applicant income is $33,000.
What are the most common reasons for mortgage denial at STATE EMPLOYEES CREDIT UNION?
The most common reasons for mortgage denial at STATE EMPLOYEES CREDIT UNION are: Debt-to-income ratio, Credit history, Collateral. In total, 48 applications were denied out of 384 total applications.
What types of mortgage loans does STATE EMPLOYEES CREDIT UNION offer?
STATE EMPLOYEES CREDIT UNION processes Conventional loans. The most common type is Conventional with 384 applications and an average loan amount of $141,979.
What loan purposes does STATE EMPLOYEES CREDIT UNION serve?
STATE EMPLOYEES CREDIT UNION serves the following loan purposes: Cash-out Refinancing (138 applications), Home Purchase (87 applications), Refinancing (87 applications), Home Improvement (71 applications), Other (1 applications). Cash-out Refinancing is the most common purpose.
Where is STATE EMPLOYEES CREDIT UNION located?
STATE EMPLOYEES CREDIT UNION is headquartered in SANTA FE, NM. The lender is identified by LEI 549300248R1MFWPWXA09 in HMDA data.
How does STATE EMPLOYEES CREDIT UNION compare in lending across racial demographics?
STATE EMPLOYEES CREDIT UNION reports demographic lending data under HMDA requirements. White applicants have an approval rate of 65.5% and denial rate of 12.6%; Asian applicants have an approval rate of 0.0% and denial rate of 25.0%; Joint applicants have an approval rate of 50.0% 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.