Applications / Mortgage Analytics / Lenders / Illinois / Great Lakes Credit Union
Bannockburn, IL · Credit union · NCUA · $1.4 billion assets · 248 loans in 2025
Great Lakes Credit Union's data, $215Buy the data, $2,110Get Jenner, the SAS-compatible software
248
loans originated, 2025
657
applications, 2025
5
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Great Lakes Credit Union now makes almost nothing but home-improvement and other-purpose loans. It made 248 loans in 2025, far below the 1,284 of 2022.
Home improvement made up 58.1% of its loans and other purposes 38.3%. Purchases and refinances together were under one in twenty. Its typical loan was $80,000, against $105,000 at similar lenders (credit unions making between half and twice as many loans).
Its typical rate was 8.50%, against 6.75% at similar lenders, and 19.2% of its loans were higher-priced (a rate well above the average for similar loans), against 1.9%. Home-improvement and other-purpose loans are usually priced above first mortgages, which could account for most of the difference.
Its loans fell 14% in 2025 while similar lenders grew 6%. In 2020 it made 1,089 loans and bought 174 more; in 2025 it bought none. Why its purchase and refinance lending fell away is not clear from these figures. The filings of Encurage Financial Network, which merged into it in 2024, count only in the competition figures.
Neighborhoods where most residents belong to minorities took 37.1% of its loans, against 11.7% at similar lenders, higher than at about four in five of them. Its base in the Chicago market may account for that.
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Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Great Lakes Credit Union took 657 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Home improvement 58.1% · Other 38.3% · Refinance 2.4% · Purchase 1.2%
Conventional 100.0% · of 248 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 |
|---|---|---|
| Illinois | 219 | 88.3% |
| California | 12 | 4.8% |
| Indiana | 9 | 3.6% |
| Wisconsin | 6 | 2.4% |
| Arizona | 2 | 0.8% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Chicago-Naperville-Schaumburg | 147 |
| Lake County | 56 |
| Elgin | 10 |
| Lake County-Porter County-Jasper County | 7 |
| Kenosha | 5 |
| Los Angeles-Long Beach-Glendale | 3 |
| Sacramento-Roseville-Folsom | 3 |
| Phoenix-Mesa-Chandler | 2 |
| Riverside-San Bernardino-Ontario | 2 |
| Kankakee | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300W6J23SLH6AR815 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 630395 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 560238 | 1991–2017 |
Established 1 January 1938. Reported under HMDA 1991-2025.
Mergers, name changes, data editions and corrections: Great Lakes Credit Union's data.
Great Lakes Credit Union's data
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