First Class Community 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 1,883 small mortgage lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
5th35.3% deniedPricingmedian rate spread over APOR, weight 30%
96th-0.50 ptsProcesswithdrawn + incomplete share, weight 15%
90th1.7%Closing coststotal loan costs ÷ loan amount, weight 10%
91st0.72% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 39 | 34 | 10.3% | 10.5% | 6.50% | $3.0M |
| 2024 | 70 | 58 | 12.9% | 13.2% | 6.13% | $4.5M |
| 2025 | 118 | 75 | 34.8% | 35.3% | 5.63% | $5.8M |
What First Class Community 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: 34 home-equity lines, 0 reverse mortgages, 0 manufactured homes, 2 investment properties.
Why First Class Community Credit Union denies applications
Primary reason reported for each of the 41 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at First Class Community 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 | 21 | 8 | 61.9% |
| $50k – $100k | 40 | 29 | 27.5% |
| $100k – $150k | 25 | 17 | 32.0% |
| $150k – $250k | 26 | 18 | 25.0% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 35–44 | 25 | 18 | 28.0% |
| 65–74 | 30 | 20 | 28.6% |
Where First Class Community Credit Union lends
3 states and 11 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Iowa | 116 | 75 | 33.6% | 5.63% | #139 |
Frequently asked questions
First Class Community Credit Union denied 35.3% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 5th percentile of small mortgage lenders.
The most common reason First Class Community Credit Union gave in 2025 was "debt-to-income ratio", cited on 43.9% 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 First Class Community Credit Union originated in 2025 was 5.63%, and its median rate spread over the average prime offer rate was -0.50 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 6% of its applications were for home purchases, 31% for refinancing (including cash-out), and 64% 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.