Applications / Mortgage Analytics / Lenders / New York / First Source Federal Credit Union
New Hartford, NY · Credit union · NCUA · $1.1 billion assets · 946 loans in 2025
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946
loans originated, 2025
1,266
applications, 2025
1
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
First Source Federal Credit Union is a New York credit union whose largest line is small home-improvement loans, and it ranked 2 of 174 lenders in Utica-Rome in 2025, where its share rose.
It ranked 2 of 174 lenders in Utica-Rome, where it has lent since before 1990, behind Americu Credit Union. Its share rose 3.3 points to 12.0% from 8.7%. Its originations were flat, 946 against 948, while similar lenders (credit unions making between half and twice as many loans) typically grew 8%.
Home improvement made up 43.7% of its loans, refinance 24.3%, other purposes 17.8% and home purchase only 14.3%. Its typical loan was $65,000, against $105,000 at peers, among the smallest of them. Manufactured homes were 4.9% of its loans, against 0.3%.
Its originations, 946, were about double the 480 of 2020, and its dollar volume rose to $102.2 million from $36.5 million five years before. Its typical rate, 6.74%, was lower than peers' 7.00%, and its refinance denial rate, 20.0% on first-lien refinances of owner-occupied homes, was close to peers' 21.3%.
Low- and moderate-income (LMI) borrowers took 29.6% of its loans, against 28.0% at peers, and LMI areas 16.1%, against 15.0%. Majority-minority areas took 3.2%, against 10.5%; all its lending is in New York, led by Utica-Rome and Syracuse, and the make-up of those areas is one possible reason.
Questions the data can answer next
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. First Source Federal Credit Union took 1,266 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Home improvement 43.7% · Refinance 24.3% · Other 17.8% · Purchase 14.3%
Conventional 100.0% · of 946 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
| State | Loans | Share |
|---|---|---|
| New York | 946 | 100.0% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Utica-Rome | 881 |
| Syracuse | 35 |
| Albany-Schenectady-Troy | 3 |
| New York-Jersey City-White Plains | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300NBSU5FHMDN5F74 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 695376 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 52658 | 1990–2017 |
Established 1 January 1938. Reported under HMDA 1990-2025.
Mergers, name changes, data editions and corrections: First Source Federal Credit Union's data.
First Source Federal Credit Union's data
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First Source Federal Credit Union and its peers, 2018–2025: every application in the HMDA data, cleaned and corrected, as Parquet files, with the Jenner programs that made these pages.
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Every mortgage application reported under HMDA from 1990 to 2025, cleaned and corrected, every lender followed across name changes and mergers, with the market-share and fair-lending tables behind these pages and the Jenner programs that built them: the warehouse and the datamart, as Parquet files.
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