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Widget Federal Credit Union

Erie, PA

Widget Federal Credit Union processed 336 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 126 loans with a 50.3% denial rate. Other was the primary loan purpose. Based in Erie, PA. The approval rate of 37.5% 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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Widget Federal Credit Union's 37.5% origination rate tells you how often an application turned into funded money; the 50.3% 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, Other, which together explain the majority of rejections. Most activity concentrated in Conventional loans (329 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.

336
Applications
126
Originated
50.3%
Denial Rate
$68,333
Avg Loan Amount
Avg Interest Rate: 7.110% Avg Applicant Income: $33,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 329 126 166 $69,255
FHA 7 0 3 $25,000

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for Widget Federal Credit Union (LEI: 2549008YEXLNFKLF7548) · 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 Approval rates exclude withdrawn / incomplete applications.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
80
Credit history
57
Other
53
Collateral
32
Unverifiable information
9
Employment history
9
Insufficient cash
1
Credit application incomplete
1

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Other 132 35 $58,788
Home Improvement 104 41 $40,673
Home Purchase 42 29 $143,810
Refinancing 37 17 $76,081
Cash-out Refinancing 21 4 $100,714

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 304 39.8% 47.4%
Black or African American * 13 15.4% 76.9%
American Indian or Alaska Native * 5 20.0% 80.0%
Asian * 2 0.0% 50.0%
Joint * 2 100.0% 0.0%
Native Hawaiian or Other Pacific Islander * 1 0.0% 100.0%

* 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 315 39.0% 47.9%
Hispanic or Latino * 7 14.3% 85.7%
Joint * 2 100.0% 0.0%

* Fewer than 50 applications -- percentages for this group have wide statistical uncertainty and should not be read as precise.

Nearby Lenders in PA

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

Newrez LLC

FORT WASHINGTON, PA

248,242 apps 52,121 originated 11.5% denied

Pnc Bank N.A.

Pittsburgh, PA

127,108 apps 56,830 originated 25.4% denied

Spring Eq, LLC

RADNOR, PA

104,263 apps 31,186 originated 54.8% denied

Nvr Mortgage Finance, INC.

PITTSBURGH, PA

23,698 apps 17,311 originated 17.1% denied

First National Bank of PA

PITTSBURGH, PA

22,946 apps 13,057 originated 25.0% denied
Compare Widget Federal Credit Union vs Newrez LLC →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did Widget Federal Credit Union process?
Widget Federal Credit Union processed 336 mortgage applications in the 2024 HMDA reporting year. Of these, 126 were originated (approved and funded), 31 were withdrawn by the applicant, and 169 were denied.
What is Widget Federal Credit Union's mortgage approval rate?
Widget Federal Credit Union has an approval (origination) rate of 37.5%, meaning 37.5% of all applications resulted in a funded mortgage. The denial rate is 50.3%.
What is the average loan amount at Widget Federal Credit Union?
The average mortgage loan amount at Widget Federal Credit Union is $68,333. The average interest rate is 7.110%. The average applicant income is $33,000.
What are the most common reasons for mortgage denial at Widget Federal Credit Union?
The most common reasons for mortgage denial at Widget Federal Credit Union are: Debt-to-income ratio, Credit history, Other. In total, 169 applications were denied out of 336 total applications.
What types of mortgage loans does Widget Federal Credit Union offer?
Widget Federal Credit Union processes Conventional, FHA loans. The most common type is Conventional with 329 applications and an average loan amount of $69,255.
What loan purposes does Widget Federal Credit Union serve?
Widget Federal Credit Union serves the following loan purposes: Other (132 applications), Home Improvement (104 applications), Home Purchase (42 applications), Refinancing (37 applications), Cash-out Refinancing (21 applications). Other is the most common purpose.
Where is Widget Federal Credit Union located?
Widget Federal Credit Union is headquartered in Erie, PA. The lender is identified by LEI 2549008YEXLNFKLF7548 in HMDA data.
How does Widget Federal Credit Union compare in lending across racial demographics?
Widget Federal Credit Union reports demographic lending data under HMDA requirements. White applicants have an approval rate of 39.8% and denial rate of 47.4%; Black or African American applicants have an approval rate of 15.4% and denial rate of 76.9%; American Indian or Alaska Native applicants have an approval rate of 20.0% and denial rate of 80.0%. 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.