Lenders › Service Federal Credit Union
Service Federal Credit Union
HMDA reporter, headquartered in Portsmouth, New Hampshire. Record for calendar year 2024.
HMDA data alone cannot be used to determine whether a lender is complying with fair lending laws. The data do not include some legitimate credit risk considerations for loan approval and loan pricing decisions. Figures are from the 2024 public HMDA loan/application register; cells under 25 applications are withheld.
Service Federal Credit Union reported 3,348 mortgage applications under the Home Mortgage Disclosure Act for 2024 in 11 states, of which 1,834 became loans it originated, for $373m in total.
Its denial rate, the share of decided applications the lender denied, was 32.9%, above the national rate of 24.3% and above the New Hampshire rate of 22.8%. 312 applications were withdrawn by the applicant and 175 files were closed for incompleteness; those are not counted in the denial rate.
The median rate spread on its originated loans, the difference between the loan's APR and the average prime offer rate, was -0.6 percentage points (national median 0.3); 1.7% of its originations had a spread of 1.5 points or more.
By loan purpose the originations were mostly other purpose (53%) and home improvement (23%); by loan type, conventional (98%) and VA (2%).
The largest volumes were in New Hampshire (1,197 originations), Massachusetts (171 originations) and Maine (129 originations).
Applications were down 11% on 2023.
Compared with New Hampshire and the nation
| Measure | This lender | New Hampshire, all lenders | United States |
|---|---|---|---|
| Denial rate (denied ÷ decided applications) | 32.9% | 22.8% | 24.3% |
| Median rate spread, percentage points | -0.6 | 0.4 | 0.3 |
| Originations with spread of 1.5 pp or more | 1.7% | 15.9% | 15.6% |
| Average originated loan | $203k | $320k | $329k |
| Home purchase share of originations | 15.5% | 46.9% | 57.0% |
| FHA-insured share of originations | 0.0% | 7.2% | 13.4% |
| VA-guaranteed share of originations | 2.3% | 5.7% | 7.9% |
| Applications withdrawn by applicant | 9.3% | 12.7% | 14.3% |
New Hampshire is the lender's largest state by applications. State and national columns cover every HMDA reporter. Rate spread is reported on originated loans only.
Trend by year
ApplicationsOriginations
This lenderNew HampshireUnited States
| Year | Applications | Originations | Amount | Denial rate | Median spread | LAR records |
|---|---|---|---|---|---|---|
| 2018 | — | — | — | — | — | 1,177 |
| 2019 | — | — | — | — | — | 1,552 |
| 2020 | — | — | — | — | — | 2,847 |
| 2021 | — | — | — | — | — | 2,210 |
| 2022 | 3,969 | 2,576 | $531m | 24.4% | -1.4 | 4,046 |
| 2023 | 3,754 | 2,032 | $278m | 34.4% | -0.7 | 3,924 |
| 2024 | 3,348 | 1,834 | $373m | 32.9% | -0.6 | 3,501 |
Applications, originations and rates are computed from the public LAR for 2022, 2023, 2024; LAR record counts come from each year's transmittal sheet.
Loan purpose and loan type
By purpose
Home purchase 15% (284)Home improvement 23% (427)Refinancing 2% (45)Cash-out refinancing 6% (115)Other purpose 53% (963)
By type
Conventional 98% (1,790)VA 2% (42)USDA 0% (2)
| Loan type | Applications | Originations | Denied | Denial rate (of applications) |
|---|---|---|---|---|
| Conventional | 3,240 | 1,790 | 918 | 28.3% |
| FHA-insured | 0 | 0 | 0 | — |
| VA-guaranteed | 105 | 42 | 22 | 21.0% |
| USDA Rural Housing Service or Farm Service Agency guaranteed | 3 | 2 | 1 | — |
Shares are of originated loans. The per-type denial rate here divides denials by all applications of that type, because decided counts are not kept per type.
Action taken
| HMDA action taken | Records | Share |
|---|---|---|
| 1 Loan originated | 1,834 | 52.4% |
| 2 Application approved but not accepted | 86 | 2.5% |
| 3 Application denied | 941 | 26.9% |
| 4 Application withdrawn by applicant | 312 | 8.9% |
| 5 File closed for incompleteness | 175 | 5.0% |
| 6 Purchased loan | 153 | 4.4% |
| 7 Preapproval request denied | 0 | 0.0% |
| 8 Preapproval request approved but not accepted | 0 | 0.0% |
Codes and labels are the HMDA action-taken codes. Applications are codes 1–5; the denial rate divides code 3 by codes 1–3.
Denial reasons as coded
Share of the lender's 941 denials by the first denial reason it coded (outlined bar: all lenders nationally). Lenders may record up to four reasons; only the first is counted here.
States
| State | Applications | Originations | Amount | Denial rate | Median spread |
|---|---|---|---|---|---|
| New Hampshire | 2,114 | 1,197 | $217m | 31.9% | -0.9 |
| Massachusetts | 298 | 171 | $57m | 30.6% | -1.5 |
| Maine | 245 | 129 | $27m | 33.7% | -0.6 |
| Vermont | 80 | 38 | $6.4m | 37.7% | -0.5 |
| Florida | 74 | 33 | $7.3m | 37.5% | -0.5 |
| California | 60 | 30 | $14m | 34.7% | -1.0 |
| North Carolina | 45 | 22 | $2.9m | 40.5% | — |
| Virginia | 39 | 17 | $2.1m | 46.9% | — |
| Georgia | 30 | 15 | $2.2m | 44.8% | — |
| Washington | 27 | 11 | $2.9m | 56.0% | — |
| Maryland | 25 | 11 | $2.5m | — | — |
States with at least 25 applications. States with 100 or more link to the lender's page for that state.
Counties
| County | State | Applications | Originations | Amount | Denial rate |
|---|---|---|---|---|---|
| Rockingham County | NH | 688 | 418 | $69m | 30.0% |
| Hillsborough County | NH | 334 | 193 | $31m | 31.3% |
| Strafford County | NH | 279 | 164 | $26m | 28.0% |
| York County | ME | 202 | 102 | $17m | 36.7% |
| Cheshire County | NH | 179 | 100 | $11m | 30.1% |
| Merrimack County | NH | 197 | 98 | $49m | 39.1% |
| Grafton County | NH | 128 | 68 | $12m | 35.8% |
| Belknap County | NH | 123 | 59 | $7.4m | 41.2% |
| Essex County | MA | 88 | 51 | $11m | 33.3% |
| Barnstable County | MA | 76 | 47 | $8.8m | 26.9% |
| Coos County | NH | 79 | 36 | $2.9m | 41.9% |
| Middlesex County | MA | 57 | 34 | $28m | 19.6% |
| Carroll County | NH | 61 | 30 | $5.3m | 31.3% |
Up to 30 counties with at least 50 applications, by originations.
Questions and answers
How many mortgages did Service Federal Credit Union originate in 2024?
1,834 loans totalling $373m, from 3,348 applications reported under HMDA. It also purchased 153 loans from other institutions, which are counted separately.
What is Service Federal Credit Union's denial rate and how does it compare?
32.9% of decided applications were denied in 2024, against 24.3% nationally and 22.8% in New Hampshire. HMDA data alone cannot be used to determine whether a lender is complying with fair lending laws; the data do not include some legitimate credit risk considerations.
Which counties does Service Federal Credit Union lend in most?
By originations: Rockingham County, NH (418), Hillsborough County, NH (193), Strafford County, NH (164), York County, ME (102) and Cheshire County, NH (100).
What loan types does Service Federal Credit Union make?
Conventional 1,790, FHA 0, VA 42 and USDA 2 originations in 2024; by purpose, home purchase 284, home improvement 427, refinancing 45, cash-out refinancing 115 and other purpose 963.
What reasons did Service Federal Credit Union report for denials?
The first denial reason recorded most often was debt-to-income ratio (504), credit history (257) and collateral (112), as coded by the lender in its HMDA filing.
Where does this data come from?
From the 2024 public HMDA loan/application register published by the FFIEC and CFPB, with the lender's name from its HMDA transmittal sheet. Cells under 25 applications are withheld.
Provenance
Source: Home Mortgage Disclosure Act public loan/application register for 2024 (trend years 2022, 2023, 2024) and transmittal sheets 2018–2024, published by the FFIEC and CFPB at ffiec.cfpb.gov, public domain. Lender identity is the LEI and name on its transmittal sheet. This site was built 30 Sep 2026. Errors in processing are corrected at the next build; see corrections. Data through 1 Aug 2026.