Mayo Employees Federal 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 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%
22nd18.7% deniedPricingmedian rate spread over APOR, weight 30%
28th0.51 ptsProcesswithdrawn + incomplete share, weight 15%
49th11.9%Closing coststotal loan costs ÷ loan amount, weight 10%
99th0.28% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 760 | 563 | 13.4% | 15.0% | 6.34% | $98M |
| 2024 | 583 | 436 | 12.9% | 14.5% | 6.97% | $119M |
| 2025 | 503 | 359 | 16.5% | 18.7% | 6.54% | $93M |
What Mayo Employees Federal 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, 0 manufactured homes, 3 investment properties.
Why Mayo Employees Federal Credit Union denies applications
Primary reason reported for each of the 83 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Mayo Employees Federal Credit Union
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| $50k – $100k | 98 | 56 | 32.5% |
| $100k – $150k | 114 | 84 | 16.0% |
| $150k – $250k | 129 | 100 | 12.3% |
| Over $250k | 127 | 115 | 1.7% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 25–34 | 62 | 51 | 15.0% |
| 35–44 | 136 | 100 | 15.8% |
| 45–54 | 157 | 107 | 23.6% |
| 55–64 | 103 | 74 | 12.9% |
| 65–74 | 36 | 22 | 24.1% |
Where Mayo Employees Federal Credit Union lends
14 states and 55 counties in 2025. Click a state for the lender's full record there.
Frequently asked questions
Mayo Employees Federal Credit Union denied 18.7% 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 Mayo Employees Federal Credit Union gave in 2025 was "debt-to-income ratio", cited on 49.4% 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 Mayo Employees Federal Credit Union originated in 2025 was 6.54%, and its median rate spread over the average prime offer rate was 0.51 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 17% of its applications were for home purchases, 30% for refinancing (including cash-out), and 53% 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.