Covantage Credit Union in Michigan vs the state
10.1%Denial rate-8.40 pts vs state
11.2%Decision denial rate-11.40 pts vs state
77.4%Origination rate+17.49 pts vs state
6.56%Median rate-0.19 pts vs state
0.19Rate spread (pts)-0.21 pts vs state
$60kMedian applicant income
260Loans originated
34Denied
Trend in Michigan
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 324 | 227 | 11.4% | 7.25% | #143 |
| 2024 | 349 | 275 | 8.0% | 7.50% | #146 |
| 2025 | 336 | 260 | 10.1% | 6.56% | #163 |
What Covantage Credit Union lends in Michigan
By loan purpose
By loan type
Why it denied Michigan applicants
Where in Michigan
Counties with the most Covantage Credit Union applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Iron County | 229 | 175 | 24 | 10.5% |
| Menominee County | 39 | 32 | 3 | 7.7% |
| Dickinson County | 19 | 15 | 2 | 10.5% |
| Gogebic County | 16 | 15 | 1 | 6.3% |
| Marquette County | 8 | 8 | 0 | 0.0% |
| Ontonagon County | 6 | 5 | 0 | 0.0% |
| Cheboygan County | 3 | 1 | 0 | 0.0% |
| Berrien County | 3 | 1 | 0 | 0.0% |
| Houghton County | 2 | 0 | 2 | 100.0% |
| Baraga County | 2 | 2 | 0 | 0.0% |
Other large lenders in Michigan
| Lender | Grade | Applications | Denial rate | Median rate |
|---|---|---|---|---|
| Rocket Mortgage | C | 30,644 | 16.3% | 6.75% |
| United Shore Financial Services | B | 29,330 | 11.7% | 6.60% |
| The Huntington National Bank | D | 20,047 | 30.0% | 7.49% |
| Lake Michigan Credit Union | A | 16,662 | 5.6% | 6.75% |
| Fifth Third Bank | D | 11,176 | 26.4% | 7.50% |
| 21st Mortgage | F | 7,424 | 53.4% | 11.04% |
| Citizens Bank | C | 6,592 | 29.0% | 7.65% |
| Triad Financial Services | D | 6,426 | 56.1% | 8.49% |
| Union Home Mortgage | B | 5,303 | 4.3% | 6.75% |
| PNC Bank | D | 5,161 | 26.3% | 7.36% |
Frequently asked questions
Michigan: 336 applications in 2025, of which 260 were originated and 34 denied.
10.1% of all applications, or 11.2% of the applications it actually decided on. The Michigan statewide average across all lenders was 18.5%.
The median rate on loans Covantage Credit Union originated in Michigan in 2025 was 6.56%, against a statewide median of 6.75%.
About this data. Figures are Covantage Credit Union's own HMDA filing for properties located in Michigan, 2025. The grade is national; state-level figures are shown for context and are not separately graded. Methodology