Innovations Financial 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 D 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%
22nd18.8% deniedProcesswithdrawn + incomplete share, weight 15%
8th27.6%Trend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 185 | 149 | 8.7% | 9.7% | — | $32M |
| 2024 | 261 | 171 | 13.4% | 17.0% | — | $45M |
| 2025 | 228 | 134 | 13.6% | 18.8% | — | $36M |
What Innovations Financial 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: 0 home-equity lines, 0 reverse mortgages, 5 manufactured homes, 31 investment properties.
Why Innovations Financial Credit Union denies applications
Primary reason reported for each of the 31 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Innovations Financial 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 | 28 | 12 | 25.0% |
| $50k – $100k | 87 | 40 | 33.3% |
| $100k – $150k | 53 | 37 | 5.1% |
| $150k – $250k | 33 | 23 | 11.5% |
| Over $250k | 23 | 22 | 0.0% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 25–34 | 23 | 14 | 12.5% |
| 35–44 | 47 | 25 | 30.6% |
| 45–54 | 56 | 29 | 9.4% |
| 55–64 | 62 | 44 | 17.0% |
| 65–74 | 29 | 18 | 10.0% |
Where Innovations Financial Credit Union lends
2 states and 12 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Florida | 225 | 132 | 13.8% | — | #350 |
Frequently asked questions
Innovations Financial Credit Union denied 18.8% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 22nd percentile of small mortgage lenders.
The most common reason Innovations Financial Credit Union gave in 2025 was "debt-to-income ratio", cited on 38.7% of its denials. Lenders report up to four reasons per denial to the CFPB; the full breakdown is on this page.
In 2025, 7% of its applications were for home purchases, 16% for refinancing (including cash-out), and 77% 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.