Applications / Mortgage Analytics / Lenders / Massachusetts / Somerset Federal Credit Union
Somerset, MA · Credit union · NCUA · $259 million assets · 227 loans in 2025
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227
loans originated, 2025
324
applications, 2025
2
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Somerset Federal Credit Union is a manufactured-home lender: such homes made up 43.6% of its loans in 2025, the highest share among similar credit unions.
At the typical similar lender, a credit union making between half and twice as many loans, manufactured homes made up 0.0% of loans. Somerset's share of 43.6% makes it a different kind of lender. Low- and moderate-income (LMI) borrowers took 47.6% of its loans, against 27.7% at the typical peer, a higher share than nearly all of them.
Its loans rose 49%, from 152 to 227, faster than more than four in five similar credit unions, whose typical growth was 6%. Its lending reached $37.6 million, up from $19.7 million. Since 2018 it has made between 123 and 233 loans a year.
It turned down 14.2% of decided first-lien home-purchase applications on owner-occupied homes, against 8.0% at the typical similar credit union. Its manufactured-home lending may account for most of that: applications for such homes are turned down far more often than for site-built houses. Its typical rate, 6.25%, was lower than at about four in five peers.
In Providence-Warwick, where it has lent since 1990, its share rose to 0.2% from 0.1%, ranking it 79 of 475 lenders. Citizens Bank leads there.
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Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Somerset Federal Credit Union took 324 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 45.4% · Refinance 35.7% · Other 9.7% · Home improvement 9.3%
Conventional 100.0% · of 227 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 | 193 | 85.0% |
| Rhode Island | 34 | 15.0% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Providence-Warwick | 184 |
| Boston | 41 |
| Barnstable Town | 2 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300VWMFYNEEG33W94 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 594796 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 524239 | 1990–2017 |
Established 1 January 1936. Reported under HMDA 1990-2025.
Mergers, name changes, data editions and corrections: Somerset Federal Credit Union's data.
Somerset Federal Credit Union's data
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Somerset 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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