TOWER 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 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%
33rd30.4% deniedPricingmedian rate spread over APOR, weight 30%
69th-0.20 ptsProcesswithdrawn + incomplete share, weight 15%
59th10.9%Closing coststotal loan costs ÷ loan amount, weight 10%
55th2.98% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 6,245 | 3,434 | 32.9% | 36.9% | 7.00% | $506M |
| 2024 | 6,022 | 3,449 | 31.0% | 34.6% | 7.75% | $549M |
| 2025 | 5,952 | 3,617 | 27.1% | 30.4% | 7.00% | $715M |
What TOWER 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: 4,490 home-equity lines, 0 reverse mortgages, 4 manufactured homes, 21 investment properties.
Why TOWER Federal Credit Union denies applications
Primary reason reported for each of the 1,612 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at TOWER Federal 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 | 154 | 51 | 65.1% |
| $50k – $100k | 897 | 428 | 45.1% |
| $100k – $150k | 1,281 | 743 | 33.2% |
| $150k – $250k | 1,997 | 1,352 | 23.5% |
| Over $250k | 1,553 | 1,018 | 23.2% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 48 | 23 | 27.8% |
| 25–34 | 756 | 419 | 32.5% |
| 35–44 | 1,735 | 1,064 | 30.7% |
| 45–54 | 1,625 | 1,011 | 30.8% |
| 55–64 | 1,177 | 732 | 28.9% |
| 65–74 | 444 | 273 | 27.9% |
| Over 74 | 167 | 95 | 32.4% |
Where TOWER Federal Credit Union lends
48 states and 538 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Maryland | 2,733 | 1,696 | 25.5% | 7.00% | #18 |
| Virginia | 1,067 | 681 | 24.3% | 7.00% | #69 |
| New Jersey | 354 | 223 | 29.1% | 7.00% | #146 |
| Pennsylvania | 338 | 190 | 32.5% | 7.00% | #214 |
| North Carolina | 170 | 101 | 24.7% | 7.00% | #251 |
| Florida | 164 | 91 | 34.2% | 7.00% | #408 |
| South Carolina | 140 | 87 | 26.4% | 7.00% | #215 |
| District of Columbia | 111 | 67 | 28.8% | 7.00% | #41 |
| Georgia | 108 | 60 | 30.6% | 7.00% | #326 |
| Illinois | 105 | 53 | 38.1% | 7.00% | #341 |
| Delaware | 98 | 61 | 20.4% | 7.00% | #86 |
| California | 92 | 49 | 34.8% | 7.00% | #451 |
| New York | 68 | 31 | 42.7% | 7.00% | #306 |
| Colorado | 41 | 22 | 31.7% | 7.00% | #328 |
| Ohio | 32 | 16 | 37.5% | 7.75% | #463 |
| West Virginia | 31 | 18 | 22.6% | 8.00% | #173 |
| Massachusetts | 30 | 14 | 40.0% | 7.00% | #381 |
| Tennessee | 28 | 16 | 28.6% | 7.50% | #495 |
| Arizona | 25 | 20 | 16.0% | 7.75% | #396 |
| Michigan | 17 | 9 | 35.3% | 7.75% | #454 |
| Oregon | 16 | 10 | 37.5% | 8.50% | #312 |
| Missouri | 15 | 7 | 26.7% | 8.00% | #474 |
| Nevada | 14 | 9 | 35.7% | 7.00% | #297 |
| Alabama | 13 | 7 | 38.5% | 8.00% | #442 |
| Washington | 12 | 7 | 25.0% | 8.50% | #437 |
| Connecticut | 10 | 5 | 30.0% | 7.00% | #375 |
| Kentucky | 10 | 6 | 10.0% | 8.37% | #417 |
| Louisiana | 10 | 5 | 50.0% | 7.75% | #377 |
| Texas | 10 | 5 | 30.0% | 6.25% | #956 |
| Indiana | 9 | 6 | 22.2% | 7.63% | #568 |
| Kansas | 9 | 4 | 33.3% | 8.25% | #362 |
| Utah | 8 | 6 | 12.5% | 8.38% | #307 |
| Wisconsin | 8 | 6 | 12.5% | 7.00% | #519 |
| Minnesota | 7 | 4 | 28.6% | 8.12% | #504 |
| New Hampshire | 7 | 4 | 14.3% | 6.69% | #295 |
| Maine | 5 | 3 | 20.0% | 7.00% | #294 |
| Mississippi | 5 | 2 | 60.0% | 6.00% | #346 |
| Montana | 5 | 2 | 40.0% | 7.00% | #230 |
| Oklahoma | 5 | 2 | 40.0% | 7.88% | #490 |
| Rhode Island | 5 | 3 | 40.0% | 7.00% | #252 |
Frequently asked questions
TOWER Federal Credit Union denied 30.4% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 33rd percentile of home-equity (HELOC) lenders.
The most common reason TOWER Federal Credit Union gave in 2025 was "debt-to-income ratio", cited on 45.2% 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 TOWER Federal Credit Union originated in 2025 was 7.00%, and its median rate spread over the average prime offer rate was -0.20 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 18% of its applications were for home purchases, 23% for refinancing (including cash-out), and 59% 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.