Name: 2025 Credit Union Mortgage Market Statistics
Creator: Polygon Research
License: https://creativecommons.org/licenses/by-nc-nd/4.0/

Question 1

How large is the credit union mortgage market?

Accepted Answer

Credit unions originated 1,003,176 mortgage loans in 2025, representing a 14.7% share of the total U.S. mortgage market and $212 billion in loan volume. This was a 6.9% increase over 2024. A total of 1,505 credit unions reported mortgage data under HMDA in 2025. Source: Polygon Research HMDAVision, 2025 HMDA data, accessed April 2, 2026.

Question 2

Which credit union originates the most mortgages?

Accepted Answer

Navy Federal Credit Union ranked first among all credit unions by mortgage origination volume in 2025 with 80,547 loans, representing an 8.03% share of the credit union segment. State Employees' Federal Credit Union ranked second with 28,397 originations. GreenState Credit Union ranked third with 15,699 loans, growing 22.8% year-over-year. Idaho Central Credit Union, new to the top 10 at #10, posted the fastest growth of any top-10 lender at 23.7%. Source: Polygon Research HMDAVision, 2025 HMDA Lender Rankings, accessed April 2, 2026.

Question 3

What is the loan purpose mix for credit union mortgages?

Accepted Answer

Credit union mortgage originations in 2025 were broadly distributed across loan purposes. Home improvement loans led at 26.1%, followed closely by purchase loans at 25.9%. Other purpose loans accounted for 20.0%, cash-out refinances for 14.8%, and rate-and-term refinances for 13.1%. The near-equal split between home improvement and purchase lending reflects credit unions' strong member relationship model and their role in serving existing homeowners. Source: Polygon Research HMDAVision, 2025 HMDA data, accessed April 2, 2026.

Question 4

What loan types do credit unions originate most?

Accepted Answer

Conventional conforming loans dominated credit union originations in 2025 at 49.3% of total volume, followed by HELOCs at 45.9% — a remarkably high HELOC share reflecting member demand for home equity access. VA loans accounted for 2.4%, jumbo loans for 1.2%, and FHA loans for just 0.8%, underscoring that credit unions serve a predominantly conventional and home-equity-focused borrower base with limited government-insured lending activity. Source: Polygon Research HMDAVision, 2025 HMDA data, accessed April 2, 2026.

Question 5

How do credit union mortgage approval rates compare across borrower demographics?

Accepted Answer

Credit unions approved 60.2% of all mortgage applications in 2025, with a Non-Hispanic White approval rate of 66.0% and a minority approval rate of 50.5% — a gap of 15.5 percentage points. This disparity is wider than that of independent mortgage companies (6.0 percentage points) and banks (14.3 percentage points), making it the largest gap among all lender types. Credit unions received 1,762,507 total applications in 2025. Source: Polygon Research HMDAVision, 2025 HMDA data, accessed April 2, 2026.

Question 6

How active are credit unions in manufactured housing lending?

Accepted Answer

Credit unions originated 18,372 manufactured housing loans in 2025, up 7.47% year-over-year. Of these, 12,037 were traditional MH mortgage loans and 5,104 were chattel loans. Credit Human Federal Credit Union led all credit unions in manufactured housing with 2,320 originations and a 12.63% segment share, followed by Navy Federal Credit Union (1,068) and State Employees' Federal Credit Union (790). In the broader chattel loan market, credit unions originated 5,104 of 60,502 total industry chattel loans in 2025. Source: Polygon Research HMDAVision, 2025 HMDA data, accessed April 2, 2026.

2025 Rank	Credit Union	Originations	CU Market Share	YoY Change
1	Navy Federal Credit Union	80,547	8.03%	▼ 1.8%
2	State Employees' Federal Credit Union	28,397	2.83%	▲ 1.2%
3	GreenState Credit Union	15,699	1.56%	▲ 22.8%
4	America First Federal Credit Union	15,271	1.52%	▼ 4.6%
5	Boeing Employees Credit Union (BECU)	14,331	1.43%	▲ 9.5%
6	Lake Michigan Credit Union	14,279	1.42%	▲ 16.6%
7	SchoolsFirst Federal Credit Union	14,224	1.42%	▲ 14.7%
8	Summit Credit Union	11,414	1.14%	▲ 15.0%
9	Pentagon Federal Credit Union (PenFed)	11,278	1.12%	▲ 7.3%
10	Idaho Central Credit Union	10,608	1.06%	▲ 23.7%

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Questions and some answers