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.