Applications / Mortgage Analytics / Lenders / New York / First New York Federal Credit Union
Albany, NY · Credit union · NCUA · $535 million assets · 486 loans in 2025
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486
loans originated, 2025
682
applications, 2025
1
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
First New York Federal Credit Union, an Albany credit union that lends mostly to refinance and improve homes, charged a typical rate of 5.49% in 2025, among the lowest tenth of similar lenders.
Refinances made up 52.1% of its loans and home improvement 32.3%; purchases were only 15.6%. All were conventional. Its typical loan, $125,000, was above the $105,000 at similar lenders (credit unions making between half and twice as many loans).
It has lent in Albany-Schenectady-Troy, NY since 1993 and ranked 12 of 265 lenders there. Its share was 1.7%, against 1.8% a year earlier, a change a few loans could explain. SEFCU Services led the market. Its loans rose 3% to 486, against 6% at similar lenders, and the dollars it lent rose from $74.8 million to $85.4 million.
Its typical rate of 5.49% compared with 7.00% at similar lenders, among the lowest tenth. Its higher-priced share (a rate well above the average for similar loans) was 2.1%, near peers' 1.8% and down from 4.3% a year earlier. Which of its loans carry the lower rate is an open question.
Low- and moderate-income (LMI) neighborhoods took 18.6% of its loans, against 15.4%, a higher share than about seven in ten similar lenders. LMI borrowers took 29.5%, close to the 27.6% at similar lenders.
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Originated means the loan was made: applications denied, withdrawn or not accepted are not counted.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 New York Federal Credit Union took 682 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Refinance 52.1% · Home improvement 32.3% · Purchase 15.6%
Conventional 100.0% · of 486 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 | 486 | 100.0% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Albany-Schenectady-Troy | 437 |
| Glens Falls | 8 |
| Utica-Rome | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 5493007G2SOD8W9RK547 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 743174 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 52440 | 1990–2017 |
Established 1 January 1937. Reported under HMDA 1993-2025.
Mergers, name changes, data editions and corrections: First New York Federal Credit Union's data.
First New York Federal Credit Union's data
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First New York 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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