Applications / Mortgage Analytics / Lenders / Massachusetts / Southbridge Credit Union
Southbridge, MA · Credit union · NCUA · $236 million assets · 57 loans in 2025
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57
loans originated, 2025
103
applications, 2025
2
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Southbridge Credit Union spreads its lending across refinancing, home improvement and other borrowing, and it has made fewer loans every year since 2021.
Only 21.1% of its loans financed a home purchase. Refinancing took 35.1%, home improvement 19.3% and other purposes 24.6%. Its typical loan, $125,000, is larger than the $95,000 at similar lenders, credit unions making between half and twice as many loans, and its lending total of $12.4 million is higher than about three-quarters of them.
Its loans fell 17% to 57, while similar lenders grew 7%; its change was lower than about four in five of them. The decline is long: it made 159 loans in 2021, 86 in 2023 and 69 in 2024. The figures do not say why, and whether it reflects less demand for the kinds of borrowing it favors is an open question.
It has lent in Worcester and Springfield since 1994. Its share of Worcester fell to 0.1% from 0.2%, leaving it 154 of 451 lenders, behind Rocket Mortgage and United Wholesale Mortgage; its shrinking loan count may be one reason. In Springfield, where Westfield Bank leads, its share held at 0.2%, at 85 of 322.
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Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Southbridge Credit Union took 103 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Refinance 35.1% · Other 24.6% · Purchase 21.1% · Home improvement 19.3%
Conventional 100.0% · of 57 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 | 52 | 91.2% |
| Connecticut | 5 | 8.8% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Worcester | 43 |
| Springfield | 12 |
| Cambridge-Newton-Framingham | 1 |
| Hartford-West Hartford-East Hartford | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 5493005JR8XLPW5ROU93 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 90391 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 566374 | 1994–2017 |
Established 1 January 1938. Reported under HMDA 1994-2025.
Mergers, name changes, data editions and corrections: Southbridge Credit Union's data.
Southbridge Credit Union's data
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Southbridge 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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