Vermont Credit Unions Lead The Industry In Mortgage Market Share

The Green Mountain State ranks No. 1 in both the purchase and refinance market share.

Credit unions in Vermont own 23.9% of the mortgage origination market and lead the industry in total mortgage origination market share, according to 2014 Home Mortgage Disclosure Act data analzyed by Callahan & Associates.

Wisconsin was second at 21.4%, followed by Iowa at 20.8%, Idaho at 19.8%, and Rhode Island at 17.5%. New Hampshire (16.8%), North Carolina (16.6%), Utah (16.1%), Michigan (14.8%), and Maine (13.7%) round out the top 10.

Vermont leads the industry in market share of both the purchase and refinance markets. Wisconsin, Iowa, Rhode Island, New Hampshire, North Carolina, and Utah also appeared on all three lists.

TOP 10 STATES FOR CREDIT UNION ORIGINATION MARKET SHARE
For all U.S. financial institutions covered by the Home Mortgage Disclosure Act | Data as of 12.31.14
Callahan & Associates | www.creditunions.com

State Originations ($000s) Market Share 2014 Market Share 2013
Vermont $437,791 23.9% 23.6%
Wisconsin $3,374,350 21.4% 15.0%
Iowa $1,587,335 20.8% 15.9%
Idaho $983,653 19.8% 12.7$
Rhode island $496,278 17.5% 13.1%
New Hampshire $538,362 16.8% 9.6%
North Carolina $4,189,383 16.6% 9.3%
Utah $1,654,543 16.1% 10.2%
Michigan $3,143,522 14.8% 9.0%
Maine $401,592 13.7% 7.8%

Source: FFIEC, Home Mortgage Disclosure Act

TOP 10 STATES FOR CREDIT UNION REFINANCE MARKET SHARE
For all U.S. financial institutions covered by the Home Mortgage Disclosure Act | Data as of 12.31.14
Callahan & Associates | www.creditunions.com

State Refinance ($000s) Market Share 2014
Vermont $175,89 24.9%
Wisconsin $1,619,934 22.6%
Utah $827,449 21.4%
Rhode Island $251,442 21.0%
Idaho $332,746 20.2%
Iowa $549,647 19.1%
New Hampshire $232,334 17.0%
North Carolina $1,490,228 16.5%
Maine $182,733 15.9%
Washington $1,696,806 14.1%

Source: FFIEC, Home Mortgage Disclosure Act

We know buying a home is one of the most important purchases members will ever make said Bob Morgan, CEO of NorthCountry Federal Credit Union in Burlington, VT. Home ownership can be a pathway to economic stability and create a deeper sense of community. We strive to offer creative, innovative solutions that allow people to buy a home, often for the first time. As a community credit union, the economic health and well-being of the area we serve is critical to our success. We can’t succeed unless we help our members and our community succeed.

October 1, 2015

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