Minnco 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 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%
15th23.0% deniedPricingmedian rate spread over APOR, weight 30%
8th1.20 ptsProcesswithdrawn + incomplete share, weight 15%
16th21.7%Closing coststotal loan costs ÷ loan amount, weight 10%
6th4.61% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 483 | 268 | 27.5% | 31.7% | 6.50% | $17M |
| 2024 | 425 | 245 | 24.0% | 27.9% | 7.50% | $16M |
| 2025 | 438 | 251 | 18.0% | 23.0% | 7.00% | $26M |
What Minnco 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, 6 manufactured homes, 11 investment properties.
Why Minnco Credit Union denies applications
Primary reason reported for each of the 79 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Minnco 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 | 40 | 7 | 70.4% |
| $50k – $100k | 161 | 87 | 27.0% |
| $100k – $150k | 116 | 77 | 13.8% |
| $150k – $250k | 90 | 63 | 11.0% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 25–34 | 45 | 27 | 11.8% |
| 35–44 | 115 | 62 | 25.0% |
| 45–54 | 122 | 69 | 31.7% |
| 55–64 | 74 | 47 | 10.9% |
| 65–74 | 55 | 29 | 23.1% |
Where Minnco Credit Union lends
2 states and 26 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Minnesota | 434 | 249 | 18.2% | 7.00% | #89 |
Frequently asked questions
Minnco Credit Union denied 23.0% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 15th percentile of small mortgage lenders.
The most common reason Minnco Credit Union gave in 2025 was "debt-to-income ratio", cited on 46.8% 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 Minnco Credit Union originated in 2025 was 7.00%, and its median rate spread over the average prime offer rate was 1.20 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 13% of its applications were for home purchases, 24% for refinancing (including cash-out), and 62% 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.