LOC 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 C 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%
24th33.0% deniedPricingmedian rate spread over APOR, weight 30%
93rd-2.08 ptsProcesswithdrawn + incomplete share, weight 15%
59th10.9%Closing coststotal loan costs ÷ loan amount, weight 10%
20th4.48% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 802 | 509 | 9.0% | 12.0% | 6.34% | $43M |
| 2024 | 805 | 510 | 13.0% | 16.8% | 6.25% | $45M |
| 2025 | 823 | 490 | 29.4% | 33.0% | 4.99% | $45M |
What LOC 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: 470 home-equity lines, 0 reverse mortgages, 11 manufactured homes, 2 investment properties.
Why LOC Credit Union denies applications
Primary reason reported for each of the 242 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at LOC 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 | 90 | 32 | 60.0% |
| $50k – $100k | 263 | 147 | 38.8% |
| $100k – $150k | 224 | 147 | 29.0% |
| $150k – $250k | 200 | 135 | 19.5% |
| Over $250k | 44 | 28 | 20.0% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 25–34 | 75 | 33 | 48.4% |
| 35–44 | 172 | 97 | 34.5% |
| 45–54 | 238 | 154 | 28.0% |
| 55–64 | 189 | 121 | 30.9% |
| 65–74 | 110 | 67 | 33.0% |
| Over 74 | 37 | 16 | 43.3% |
Where LOC Credit Union lends
2 states and 34 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Michigan | 821 | 490 | 29.4% | 4.99% | #90 |
Frequently asked questions
LOC Credit Union denied 33.0% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 24th percentile of home-equity (HELOC) lenders.
The most common reason LOC Credit Union gave in 2025 was "other", cited on 55.0% 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 LOC Credit Union originated in 2025 was 4.99%, and its median rate spread over the average prime offer rate was -2.08 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 7% of its applications were for home purchases, 10% for refinancing (including cash-out), and 83% 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.