Minnesota Valley Federal Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Minnesota Valley Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Mankato, Minneapolis, Rochester, New Ulm, and Duluth among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)
Minnesota Valley Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| MANKATO, MN (FHA|USDA|VA) | 112 | $15,980,000 | $142,679 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 13 | $2,615,000 | $201,154 | $0 | 0.00% |
| Outside of Metro Areas | 6 | $540,000 | $90,000 | $0 | 0.00% |
| ROCHESTER, MN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| New Ulm, MN (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| DULUTH, MN-WI (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
Minnesota Valley Federal Credit Union's top markets include Mankato, Minneapolis, Rochester, New Ulm, and Duluth among others.
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 134 | $19,570,000 | $146,045 | $0 | 0.00% |
For 2023, Minnesota Valley Federal Credit Union's most frequently originated type of loan was Conventional, with 134 originations.
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 60 | $11,690,000 | $194,833 | $0 | 0.00% |
| Other | 27 | $1,135,000 | $42,037 | $0 | 0.00% |
| Cash Out Refi | 24 | $4,100,000 | $170,833 | $0 | 0.00% |
| Refi | 21 | $2,435,000 | $115,952 | $0 | 0.00% |
| Home Improvement | 2 | $210,000 | $105,000 | $0 | 0.00% |
For 2023, Minnesota Valley Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 60 originations. The 2nd most popular reason was Other, with 27 originations.
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 134 | $19,570,000 | $146,045 | $0 | 0.00% |
For 2023, Minnesota Valley Federal Credit Union's most frequently cited loan duration was Other, with 134 originations.
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 64 | $3,100,000 | $48,438 | $0 | 0.00% |
| $200k-400k | 34 | $9,360,000 | $275,294 | $0 | 0.00% |
| $100k-200k | 31 | $4,815,000 | $155,323 | $0 | 0.00% |
| $400k-600k | 5 | $2,295,000 | $459,000 | $0 | 0.00% |
2023 saw Minnesota Valley Federal Credit Union place emphasis on $100,000 or less loans with 64 originations, totaling $3,100,000 in origination value.
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 40 | $7,220,000 | $180,500 | $0 | 0.00% |
| $75k-100k | 31 | $4,325,000 | $139,516 | $0 | 0.00% |
| $50k-75k | 27 | $3,565,000 | $132,037 | $0 | 0.00% |
| $150k-250k | 20 | $2,770,000 | $138,500 | $0 | 0.00% |
| $50k or less | 13 | $1,005,000 | $77,308 | $0 | 0.00% |
| $250k+ | 3 | $685,000 | $228,333 | $0 | 0.00% |
Minnesota Valley Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 40 originations. The second most popular income band? $75k-100k, with 31 originations.
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 134 | $19,570,000 | $146,045 | $0 | 0.00% |
Minnesota Valley Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 134 originations.
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 121 | $16,735,000 | $138,306 | $0 | 0.00% |
| Not provided | 12 | $2,530,000 | $210,833 | $0 | 0.00% |
| Native Hawaiian or Islander | 1 | $305,000 | $305,000 | $0 | 0.00% |
Minnesota Valley Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Minnesota Valley Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 134 | $19,570,000 | $146,045 |