Ely Area Credit Union in Minnesota vs the state
7.5%Denial rate-6.10 pts vs state
7.5%Decision denial rate-8.85 pts vs state
85.0%Origination rate+18.63 pts vs state
—Median rate
—Rate spread (pts)
$68kMedian applicant income
34Loans originated
3Denied
Trend in Minnesota
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 58 | 41 | 19.0% | — | #252 |
| 2024 | 42 | 25 | 23.8% | — | #294 |
| 2025 | 40 | 34 | 7.5% | — | #320 |
What Ely Area Credit Union lends in Minnesota
By loan purpose
By loan type
Where in Minnesota
Counties with the most Ely Area Credit Union applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| St. Louis County | 35 | 29 | 3 | 8.6% |
| Lake County | 5 | 5 | 0 | 0.0% |
Other large lenders in Minnesota
| Lender | Grade | Applications | Denial rate | Median rate |
|---|---|---|---|---|
| United Shore Financial Services | B | 8,694 | 10.6% | 6.38% |
| U.S. Bank | D | 8,624 | 30.4% | 7.88% |
| Bell Bank | A | 7,987 | 5.3% | 6.63% |
| Rocket Mortgage | C | 7,630 | 16.3% | 6.63% |
| Trustone Financial Credit Union | C | 6,066 | 20.0% | 7.25% |
| Affinity Plus | C | 5,438 | 14.6% | 6.63% |
| Blaze Credit Union | B | 4,074 | 12.3% | 6.38% |
| Wings Financial Credit Union | A | 3,960 | 16.4% | 7.25% |
| Crosscountry Mortgage | B | 3,942 | 2.1% | 6.63% |
| Fairway Independent Mortgage | B | 3,327 | 3.2% | 6.75% |
Frequently asked questions
Minnesota: 40 applications in 2025, of which 34 were originated and 3 denied.
7.5% of all applications, or 7.5% of the applications it actually decided on. The Minnesota statewide average across all lenders was 13.6%.
This lender did not report interest rates on its originated loans (some institutions are exempt from HMDA pricing fields).
About this data. Figures are Ely Area Credit Union's own HMDA filing for properties located in Minnesota, 2025. The grade is national; state-level figures are shown for context and are not separately graded. Methodology