Public Service 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%
5th35.0% deniedPricingmedian rate spread over APOR, weight 30%
9th1.18 ptsProcesswithdrawn + incomplete share, weight 15%
22nd19.1%Closing coststotal loan costs ÷ loan amount, weight 10%
86th0.97% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 390 | 203 | 31.3% | 32.6% | 8.25% | $15M |
| 2024 | 575 | 312 | 27.0% | 28.4% | 8.25% | $25M |
| 2025 | 675 | 329 | 28.3% | 35.0% | 7.50% | $25M |
What Public Service 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: 137 home-equity lines, 0 reverse mortgages, 1 manufactured homes, 19 investment properties.
Why Public Service Credit Union denies applications
Primary reason reported for each of the 191 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Public Service 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 | 188 | 67 | 49.0% |
| $50k – $100k | 281 | 137 | 35.1% |
| $100k – $150k | 123 | 67 | 25.8% |
| $150k – $250k | 68 | 48 | 18.3% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 25–34 | 63 | 26 | 38.6% |
| 35–44 | 98 | 50 | 37.2% |
| 45–54 | 179 | 91 | 38.3% |
| 55–64 | 173 | 83 | 35.4% |
| 65–74 | 109 | 58 | 25.3% |
| Over 74 | 35 | 18 | 14.3% |
Where Public Service Credit Union lends
9 states and 29 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Michigan | 666 | 328 | 27.6% | 7.50% | #105 |
Frequently asked questions
Public Service Credit Union denied 35.0% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 5th percentile of small mortgage lenders.
The most common reason Public Service Credit Union gave in 2025 was "other", cited on 75.4% 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 Public Service Credit Union originated in 2025 was 7.50%, and its median rate spread over the average prime offer rate was 1.18 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 5% of its applications were for home purchases, 7% for refinancing (including cash-out), and 88% 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.