Chartway Federal Credit Union at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the B grade breaks down
Each component is a percentile rank among 412 home-equity (HELOC) lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
30th31.3% deniedPricingmedian rate spread over APOR, weight 30%
99th-4.19 ptsProcesswithdrawn + incomplete share, weight 15%
54th12.0%Closing coststotal loan costs ÷ loan amount, weight 10%
2nd7.74% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 1,815 | 891 | 32.3% | 38.0% | 5.63% | $111M |
| 2024 | 1,844 | 1,020 | 30.5% | 33.9% | 4.99% | $138M |
| 2025 | 2,134 | 1,205 | 27.6% | 31.3% | 2.99% | $191M |
What Chartway Federal Credit Union lends
Applications by purpose and loan type in 2025, with the denial rate for each. A lender's mix explains a lot of its headline rate: HELOCs and FHA loans are denied far more often than conventional purchase loans.
By loan purpose
By loan type
Also: 1,454 home-equity lines, 0 reverse mortgages, 2 manufactured homes, 37 investment properties.
Why Chartway Federal Credit Union denies applications
Primary reason reported for each of the 588 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Chartway Federal Credit Union
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 210 | 62 | 61.1% |
| $50k – $100k | 770 | 441 | 32.2% |
| $100k – $150k | 550 | 331 | 26.0% |
| $150k – $250k | 420 | 267 | 23.7% |
| Over $250k | 162 | 93 | 25.6% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 25–34 | 167 | 89 | 39.3% |
| 35–44 | 500 | 283 | 33.0% |
| 45–54 | 550 | 302 | 32.5% |
| 55–64 | 432 | 246 | 29.0% |
| 65–74 | 328 | 189 | 28.3% |
| Over 74 | 140 | 87 | 24.2% |
Where Chartway Federal Credit Union lends
33 states and 172 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Virginia | 1,028 | 606 | 25.7% | 2.99% | #73 |
| Utah | 811 | 469 | 27.3% | 2.99% | #41 |
| Texas | 131 | 38 | 49.6% | 5.03% | #499 |
| North Carolina | 64 | 45 | 14.1% | 2.99% | #365 |
| Florida | 16 | 7 | 37.5% | 2.99% | #809 |
| Georgia | 13 | 7 | 15.4% | 2.99% | #624 |
| Arizona | 8 | 5 | 0.0% | 2.99% | #537 |
| Pennsylvania | 6 | 2 | 66.7% | 6.12% | #750 |
| Maryland | 5 | 1 | 40.0% | 2.99% | #533 |
| Tennessee | 5 | 3 | 0.0% | 7.38% | #752 |
Frequently asked questions
Chartway Federal Credit Union denied 31.3% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 30th percentile of home-equity (HELOC) lenders.
The most common reason Chartway Federal Credit Union gave in 2025 was "debt-to-income ratio", cited on 39.3% of its denials. Lenders report up to four reasons per denial to the CFPB; the full breakdown is on this page.
The median interest rate on loans Chartway Federal Credit Union originated in 2025 was 2.99%, and its median rate spread over the average prime offer rate was -4.19 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 11% of its applications were for home purchases, 27% for refinancing (including cash-out), and 62% for home improvement or other purposes. By loan type: 100% conventional, 0% FHA, 0% VA.
Every figure on this page comes from the Home Mortgage Disclosure Act (HMDA) Loan/Application Register published by the CFPB, which lenders are required by federal law to file. We add the grade and the comparisons; we do not add facts.