Great Lakes 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 F 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%
4th47.2% deniedPricingmedian rate spread over APOR, weight 30%
4th1.26 ptsProcesswithdrawn + incomplete share, weight 15%
4th28.5%Closing coststotal loan costs ÷ loan amount, weight 10%
96th0.35% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 1,069 | 523 | 35.4% | 41.1% | 8.75% | $67M |
| 2024 | 615 | 290 | 29.8% | 38.1% | 9.50% | $32M |
| 2025 | 657 | 248 | 33.8% | 47.2% | 8.50% | $21M |
What Great Lakes 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: 451 home-equity lines, 0 reverse mortgages, 0 manufactured homes, 25 investment properties.
Why Great Lakes Credit Union denies applications
Primary reason reported for each of the 222 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Great Lakes 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 | 64 | 6 | 87.5% |
| $50k – $100k | 222 | 79 | 49.4% |
| $100k – $150k | 186 | 76 | 42.4% |
| $150k – $250k | 134 | 64 | 35.4% |
| Over $250k | 48 | 23 | 30.3% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 25–34 | 57 | 18 | 55.0% |
| 35–44 | 130 | 59 | 39.2% |
| 45–54 | 202 | 65 | 54.9% |
| 55–64 | 141 | 55 | 48.1% |
| 65–74 | 94 | 42 | 36.4% |
| Over 74 | 28 | 9 | 40.0% |
Where Great Lakes Credit Union lends
10 states and 39 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Illinois | 601 | 219 | 34.1% | 8.50% | #117 |
| California | 21 | 12 | 28.6% | 8.50% | #635 |
| Wisconsin | 13 | 6 | 30.8% | 8.50% | #456 |
| Indiana | 12 | 9 | 16.7% | 8.94% | #527 |
| Arizona | 5 | 2 | 20.0% | 8.25% | #624 |
Frequently asked questions
Great Lakes Credit Union denied 47.2% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 4th percentile of home-equity (HELOC) lenders.
The most common reason Great Lakes Credit Union gave in 2025 was "credit history", cited on 47.3% 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 Great Lakes Credit Union originated in 2025 was 8.50%, and its median rate spread over the average prime offer rate was 1.26 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 5% of its applications were for home purchases, 4% for refinancing (including cash-out), and 91% 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.