Raleigh, NC · Credit union · NCUA · $58.1 billion assets · 28,397 loans in 2025
28,397
loans originated, 2025
49,354
applications, 2025
5
states and territories
2
gaps bigger than at similar lenders
How to read this section
For Black, Hispanic and Asian applicants, we look at how much more often State Employees' Credit Union turns them down than White
applicants: the gap. Then we compare that gap with the gap at similar lenders, for similar applications: the same
income, loan size, debt-to-income range, loan-to-value, loan type, kind of property and place.
"Bigger gap" means we are at least 99% sure the gap is bigger than at similar lenders. That is a reason to look
closer, not proof of discrimination. The public data has no credit scores and none of the documents a lender
reviews, and the kind of loans a lender makes can widen a gap for good reasons. Each result below gives the numbers
and the explanations they allow.
FIG. 1 — GAPS AGAINST SIMILAR LENDERS
State Employees' Credit Union's gap is bigger than at similar lenders for Black purchase and Black refinance applicants.
Each dot compares State Employees' Credit Union's gap with the gap at similar lenders: at 1x they are the same, at 2x its gap is twice as large. A gap is how much more likely the group is to be turned down than White applicants. The line around each dot shows the range the true value probably lies in (95%). Amber: groups where we are at least 99% sure the gap is bigger.
SOURCE: FFIEC HMDA 2025; JENNER ANALYTICS NATIONAL DENIAL MODEL
Black purchase
State Employees' Credit Union's gap for Black purchase applicants is bigger than at similar lenders.
How sure we are that the gap is bigger than at similar lenders: 99.4%.
Of the purchase applications it decided in 2025, it turned down 31% of 1,294 from Black applicants and 12% of 7,436 from White applicants. The most common reason: too much debt for the income, given for 54% of the Black applicants turned down and 50% of the White applicants turned down.
State Employees' Credit Union lends to North Carolina state employees and their families, all with conventional loans. Too much debt for the income is the main reason it turns down purchase applicants of both groups, somewhat more often for Black applicants (54%, against 50%).
The public data has no credit scores, savings or full credit histories, so our comparison cannot allow for them. A difference in them between the groups applying would produce a gap like this one.
Black refinance
State Employees' Credit Union's gap for Black refinance applicants is bigger than at similar lenders.
How sure we are that the gap is bigger than at similar lenders: 99.2%.
Of the refinance applications it decided in 2025, it turned down 54% of 1,320 from Black applicants and 31% of 3,675 from White applicants. The most common reason: too much debt for the income, given for 57% of the Black applicants turned down and 47% of the White applicants turned down.
For refinance applicants, too much debt for the income is given more often for Black applicants (57% of those turned down, against 47%).
The public data has no credit scores, savings or full credit histories, so our comparison cannot allow for them. A difference in them between the groups applying would produce a gap like this one.
FIG. 2 — REASONS FOR TURNING APPLICANTS DOWN, 2025
Why applications were turned down, beside White applicants at the same lender.
Each bar is 100% of the applications the lender decided for that group; the coloured part was turned down, split by the main reason the lender gave, and the rest were approved. Applications the applicant withdrew are not counted.
SOURCE: FFIEC HMDA 2025, FIRST REASON GIVEN
Applicants
Turned down: group
Turned down: White
How sure the gap is bigger
Result
Hispanic purchase
21%
12%
28.6%
Not clearly bigger
Hispanic refinance
55%
31%
80.0%
Not clearly bigger
Black purchase
31%
12%
99.4%
Bigger gap than at similar lenders
Black refinance
54%
31%
99.2%
Bigger gap than at similar lenders
Asian purchase
14%
12%
57.0%
Not clearly bigger
"How sure the gap is bigger": how sure we are that the lender's gap is bigger than at similar lenders. We call it bigger at 99% or more.
Not tested, too few applications: Asian refinance. A test needs, for that loan purpose, at least 100 decided applications from the group and from White applicants, with at least 20 of each turned down and 20 approved.