Applications / Mortgage Analytics / Lenders / Massachusetts / SouthCoast Federal Credit Union
New Bedford, MA · Credit union · NCUA · $60.0 million assets · 59 loans in 2025
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59
loans originated, 2025
72
applications, 2025
3
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
SouthCoast Federal Credit Union, a small New Bedford credit union, is chiefly a home-improvement lender: 59.3% of its 59 loans in 2025 were for improving a home.
Home improvement made up 59.3% of its loans, refinancing and other purposes 18.6% each, and home purchases only 3.4%. Its loans are small, with a typical loan of $75,000 against $95,000 at similar lenders: credit unions making between half and twice as many loans.
Its loans rose 247% to 59, faster than almost all similar lenders. That jump comes from an unusually low 2024, when it made 17. It made 78 in 2023 and 43 in 2020, so its volume swings from year to year and one year's change says little about its direction.
Its typical rate was 5.50%, against 6.75% at similar lenders, lower than nearly all of them. None of its loans was higher-priced, meaning a rate well above the average for similar loans. A year earlier its typical rate was 6.50%.
It ranks 209 of 475 lenders in Providence-Warwick, where Citizens Bank leads, and its share there rounds to nothing. Low- and moderate-income borrowers took 17.8% of its loans against 30.6% at similar lenders, but on 59 loans a handful of borrowers moves that share.
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Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. SouthCoast Federal Credit Union took 72 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Home improvement 59.3% · Other 18.6% · Refinance 18.6% · Purchase 3.4%
Conventional 100.0% · of 59 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 | 51 | 86.4% |
| Rhode Island | 2 | 3.4% |
| New Hampshire | 1 | 1.7% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Providence-Warwick | 45 |
| Boston | 7 |
| Barnstable Town | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300T5T60SK9MMCD03 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 591683 | 2012–2023 |
| Respondent ID (the HMDA filer code before 2018) | 522426 | 1995–2017 |
Established 1 January 1976. Reported under HMDA 1995-2025.
Mergers, name changes, data editions and corrections: SouthCoast Federal Credit Union's data.
SouthCoast Federal Credit Union's data
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SouthCoast 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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