Applications / Mortgage Analytics / Lenders / Michigan / Route 31 Federal Credit Union
Muskegon, MI · Credit union · NCUA · $97.8 million assets · 49 loans in 2025
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49
loans originated, 2025
69
applications, 2025
1
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Route 31 Federal Credit Union, a small Muskegon credit union, makes small loans for home improvement and other purposes, and more of them go to low- and moderate-income borrowers than at most similar lenders.
Home improvement accounts for 40.8% of its loans and other purposes for 55.1%; purchases and refinances are 2.0% each. Its typical loan, $45,000, is smaller than at almost every similar lender (credit unions making between half and twice as many loans), where it is $92,500.
Low- and moderate-income (LMI) borrowers took 51.0% of its loans, against 31.4% at similar lenders, a higher share than at about nine in ten. Loans in majority-minority neighborhoods were 22.4% of its lending, against 9.5% at its peers.
Its typical rate was 6.25%, lower than at about four in five similar lenders, whose typical rate is 6.75%. Its loans rose 2%, to 49, a little slower than the 5% growth at its peers.
It has lent in Muskegon-Norton Shores since 1994. Its share there held at 0.2%, and it ranks 56 of 233; Lake Michigan Credit Union leads. It filed no report for 2020 to 2022, so its record has a gap in those years.
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Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Years with no HMDA report from this lender are left out: since 2020 a bank making fewer than 100 closed-end loans a year need not report. Route 31 Federal Credit Union took 69 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Other 55.1% · Home improvement 40.8% · Purchase 2.0% · Refinance 2.0%
Conventional 100.0% · of 49 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 |
|---|---|---|
| Michigan | 49 | 100.0% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Muskegon-Norton Shores | 45 |
| Grand Rapids-Wyoming-Kentwood | 1 |
| Lansing-East Lansing | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 2549006QH61JRY6BYY91 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 413879 | 2010–2023 |
| Respondent ID (the HMDA filer code before 2018) | 55982 | 1994–2016 |
Established 1 January 1949. Reported under HMDA 1994-2025.
Mergers, name changes, data editions and corrections: Route 31 Federal Credit Union's data.
Route 31 Federal Credit Union's data
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Route 31 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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