Applications / Mortgage Analytics / Lenders / Massachusetts / Central One Federal Credit Union
Shrewsbury, MA · Credit union · NCUA · $858 million assets · 576 loans in 2025
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576
loans originated, 2025
823
applications, 2025
12
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Central One Federal Credit Union is a Worcester-area credit union whose lending is mostly home-improvement and other-purpose loans, with purchases only 10.2% of its originations.
Other purposes (37.2%) and home improvement (33.9%) make up most of its loans; refinances are 18.8% and purchases 10.2%. All its loans are conventional. That makes it more a lender to existing homeowners than a source of purchase mortgages.
It made 576 loans against 595 a year before, yet lent $135.8 million against $115.4 million, as its typical loan rose to $155,000 from $125,000. That is larger than about three in four similar lenders (credit unions making between half and twice as many loans), whose typical loan is $105,000. Its jumbo share (larger than the conforming limit), 3.1%, is higher than about four in five of them.
It ranks 18 of 451 lenders in Worcester, MA, where it has lent since before 1990, with 1.3% of the market against 1.4% a year before. Its originations fell 3% while the whole market grew 10%; its focus on home-improvement and other-purpose loans rather than purchases is one possible reason.
Its typical rate, 6.50%, is lower than about seven in ten similar lenders' (7.00%), and 0.5% of its loans were higher-priced (a rate well above the average for similar loans), against 1.7%. Only 8.2% of its loans were in LMI (low- and moderate-income) areas, against 15.1% for similar lenders; the markets it serves are a 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Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Central One Federal Credit Union took 823 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Other 37.2% · Home improvement 33.9% · Refinance 18.8% · Purchase 10.2%
Conventional 100.0% · of 576 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 |
|---|---|---|
| Massachusetts | 530 | 92.0% |
| Connecticut | 10 | 1.7% |
| Florida | 10 | 1.7% |
| New Hampshire | 6 | 1.0% |
| Maine | 5 | 0.9% |
| South Carolina | 5 | 0.9% |
| Vermont | 3 | 0.5% |
| North Carolina | 2 | 0.3% |
| Rhode Island | 2 | 0.3% |
| California | 1 | 0.2% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Worcester | 445 |
| Cambridge-Newton-Framingham | 42 |
| Boston | 27 |
| Providence-Warwick | 7 |
| Barnstable Town | 5 |
| Hartford-West Hartford-East Hartford | 4 |
| Portland-South Portland | 4 |
| Cape Coral-Fort Myers | 3 |
| North Port-Bradenton-Sarasota | 3 |
| Rockingham County-Strafford County | 3 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300MUTFJQGRZJH019 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 556589 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 58218 | 1990–2017 |
Established 1 January 1952. Reported under HMDA 1990-2025.
Mergers, name changes, data editions and corrections: Central One Federal Credit Union's data.
Central One Federal Credit Union's data
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Central One 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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