Applications / Mortgage Analytics / Lenders / South Dakota / Service First Federal Credit Union
Sioux Falls, SD · Credit union · NCUA · $206 million assets · 149 loans in 2025
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149
loans originated, 2025
191
applications, 2025
5
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Service First Federal Credit Union is a home-buying lender in Sioux Falls, where it has lent since 1990, and unlike most credit unions of its size it makes loans insured by the Federal Housing Administration (FHA).
Purchases made up 79.2% of its loans in 2025. FHA loans were 27.5% and loans guaranteed by the Department of Veterans Affairs (VA) 6.0%. At the typical similar lender, a credit union making between half and twice as many loans, both shares were nil. Its typical loan, $285,000, was larger than at almost all of them; theirs was $105,000.
Low- and moderate-income (LMI) borrowers took 47.0% of its loans, up from 35.5% in 2024 and a higher share than at more than nine in ten similar lenders, whose typical figure was 28.6%. Its share of loans in LMI neighborhoods, 14.8%, was close to their 17.3%.
It made 149 loans, 12% fewer than in 2024, while similar lenders grew 9% and the whole market 10%. Its share of lending in Sioux Falls slipped from 2.4% to 1.7%, leaving it 13th of 204 lenders. At this size a handful of large purchase loans can move its share either way, and the figures do not say whether the fall came from demand or from choice.
It turned down 2.5% of decided applications to buy a home, against 12.2% at the typical similar lender with enough applications to measure. That is lower than at most of them.
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Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Service First Federal Credit Union took 191 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 79.2% · Refinance 18.8% · Home improvement 1.3% · Other 0.7%
Conventional 66.4% · FHA 27.5% · VA 6.0% · of 149 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 |
|---|---|---|
| South Dakota | 140 | 94.0% |
| Iowa | 3 | 2.0% |
| Minnesota | 3 | 2.0% |
| Nebraska | 2 | 1.3% |
| Texas | 1 | 0.7% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Sioux Falls | 130 |
| Sioux City | 4 |
| Brownsville-Harlingen | 1 |
| Omaha | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300VTMXH07KUIB722 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 878674 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 577 | 1990–2017 |
Established 1 January 1934. Reported under HMDA 1990-2025.
Mergers, name changes, data editions and corrections: Service First Federal Credit Union's data.
Service First Federal Credit Union's data
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Service First 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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