Applications / Mortgage Analytics / Lenders / New York / NextStep Federal Credit Union
Troy, NY · Credit union · NCUA · $106 million assets · 30 loans in 2025
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30
loans originated, 2025
37
applications, 2025
1
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
NextStep Federal Credit Union, a credit union in Troy, New York, makes small loans for home improvement and other purposes: none of its 30 loans in 2025 was a purchase.
Loans for other purposes made up 53.3% of its book and home-improvement loans 43.3%; refinances were the rest. Its typical loan was $60,000, against $95,000 at similar lenders, the 367 credit unions making between half and twice as many loans. Its typical rate, 6.12%, was lower than at nearly nine in ten of them. Every loan was conventional, as at its peers.
It made 30 loans in 2025, against 68 in 2018 and 61 in 2023. It filed no report for 2020, 2021 or 2022; since 2020 a lender making fewer than 100 closed-end loans a year need not report, so these are gaps in the record, not years without lending. The figures do not say why its count has fallen; with numbers this small, a change in a single product line could account for it.
All its lending is in the Albany-Schenectady-Troy area, spread over four counties. It has lent there since 2001 and ranked 121 of 265 lenders in 2025, in a market led by SEFCU Services and Homestead Funding. With 30 loans, the shares going to particular borrowers or neighborhoods turn on one or two mortgages and say little about the credit union's lending.
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Originated means the loan was made: applications denied, withdrawn or not accepted are not counted.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. NextStep Federal Credit Union took 37 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Other 53.3% · Home improvement 43.3% · Refinance 3.3%
Conventional 100.0% · of 30 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 | 30 | 100.0% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Albany-Schenectady-Troy | 30 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300RA8E6JQC2S7K66 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 74382 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 59486 | 2001–2017 |
Established 1 January 1954. Reported under HMDA 2001-2025.
Mergers, name changes, data editions and corrections: NextStep Federal Credit Union's data.
NextStep Federal Credit Union's data
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NextStep 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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