Preferred Credit Union in Michigan vs the state
10.8%Denial rate-7.75 pts vs state
14.1%Decision denial rate-8.44 pts vs state
65.4%Origination rate+5.49 pts vs state
6.38%Median rate-0.38 pts vs state
0.32Rate spread (pts)-0.08 pts vs state
$84kMedian applicant income
170Loans originated
28Denied
Trend in Michigan
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 172 | 82 | 20.4% | 7.44% | #199 |
| 2024 | 195 | 116 | 20.0% | 7.38% | #193 |
| 2025 | 260 | 170 | 10.8% | 6.38% | #189 |
What Preferred Credit Union lends in Michigan
By loan purpose
By loan type
Why it denied Michigan applicants
Where in Michigan
Counties with the most Preferred Credit Union applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Montcalm County | 74 | 50 | 7 | 9.5% |
| Mason County | 46 | 30 | 4 | 8.7% |
| Kent County | 44 | 30 | 6 | 13.6% |
| Ionia County | 26 | 15 | 4 | 15.4% |
| Barry County | 17 | 12 | 2 | 11.8% |
| Newaygo County | 11 | 7 | 0 | 0.0% |
| Kalamazoo County | 10 | 6 | 0 | 0.0% |
| Ottawa County | 8 | 6 | 1 | 12.5% |
| Oceana County | 5 | 2 | 2 | 40.0% |
| Lake County | 3 | 1 | 0 | 0.0% |
Other large lenders in Michigan
| Lender | Grade | Applications | Denial rate | Median rate |
|---|---|---|---|---|
| Rocket Mortgage | C | 30,644 | 16.3% | 6.75% |
| United Shore Financial Services | B | 29,330 | 11.7% | 6.60% |
| The Huntington National Bank | D | 20,047 | 30.0% | 7.49% |
| Lake Michigan Credit Union | A | 16,662 | 5.6% | 6.75% |
| Fifth Third Bank | D | 11,176 | 26.4% | 7.50% |
| 21st Mortgage | F | 7,424 | 53.4% | 11.04% |
| Citizens Bank | C | 6,592 | 29.0% | 7.65% |
| Triad Financial Services | D | 6,426 | 56.1% | 8.49% |
| Union Home Mortgage | B | 5,303 | 4.3% | 6.75% |
| PNC Bank | D | 5,161 | 26.3% | 7.36% |
Frequently asked questions
Michigan: 260 applications in 2025, of which 170 were originated and 28 denied.
10.8% of all applications, or 14.1% of the applications it actually decided on. The Michigan statewide average across all lenders was 18.5%.
The median rate on loans Preferred Credit Union originated in Michigan in 2025 was 6.38%, against a statewide median of 6.75%.
About this data. Figures are Preferred Credit Union's own HMDA filing for properties located in Michigan, 2025. The grade is national; state-level figures are shown for context and are not separately graded. Methodology