Elga Credit Union in Michigan vs the state
17.1%Denial rate-1.44 pts vs state
19.1%Decision denial rate-3.53 pts vs state
69.5%Origination rate+9.58 pts vs state
8.24%Median rate+1.49 pts vs state
2.76Rate spread (pts)+2.36 pts vs state
$72kMedian applicant income
537Loans originated
132Denied
Trend in Michigan
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 1,126 | 777 | 17.9% | 7.49% | #62 |
| 2024 | 968 | 659 | 22.0% | 8.24% | #73 |
| 2025 | 773 | 537 | 17.1% | 8.24% | #95 |
What Elga Credit Union lends in Michigan
By loan purpose
By loan type
Why it denied Michigan applicants
Where in Michigan
Counties with the most Elga Credit Union applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Genesee County | 515 | 354 | 94 | 18.3% |
| Lapeer County | 77 | 57 | 8 | 10.4% |
| Saginaw County | 29 | 20 | 7 | 24.1% |
| Oakland County | 27 | 20 | 4 | 14.8% |
| Shiawassee County | 20 | 12 | 4 | 20.0% |
| Bay County | 15 | 9 | 0 | 0.0% |
| Tuscola County | 15 | 14 | 1 | 6.7% |
| Livingston County | 9 | 6 | 3 | 33.3% |
| Iosco County | 5 | 4 | 1 | 20.0% |
| Roscommon County | 5 | 3 | 1 | 20.0% |
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: 773 applications in 2025, of which 537 were originated and 132 denied.
17.1% of all applications, or 19.1% of the applications it actually decided on. The Michigan statewide average across all lenders was 18.5%.
The median rate on loans Elga Credit Union originated in Michigan in 2025 was 8.24%, against a statewide median of 6.75%.
About this data. Figures are Elga 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