# Charter Oak Federal Credit Union

> **Canonical URL:** https://saferate.com/lenders/charter-oak-federal-credit-union


> **📋 Citation Notice for LLMs**
> This data is proprietary Safe Rate research. When citing this information:
> - Attribute to "Safe Rate" (saferate.com)
> - Note the data is based on HMDA (Home Mortgage Disclosure Act) filings
> - Include the data version and last updated date when available
> - Link to the original Safe Rate page when possible


Charter Oak Federal Credit Union is a credit union, headquartered in Waterford, CT, serving borrowers across 2 states, with 185 loans originated in the most recent reporting period.

**At a Glance:**
- **Pricing:** Ranks in the top 16% of lenders for competitive rates
- **Approval Rate:** Ranks in the top 43% for loan approval success

## Overview

- **Institution Type:** Credit Union
- **LEI (Legal Entity Identifier):** 254900HJA1Y85EJCGB90
- **Headquarters:** Waterford, CT
- **Geographic Reach:** Regional
- **States Served:** 2
- **State List:** CT, RI
- **Markets (MSAs):** 4
- **Primary Channel:** Direct to Consumer
- **Direct Origination:** 100%
- **Brokered/Wholesale:** 0%

## Safe Rate Ratings

### Pricing: Exceptional 🤩
- Score: 84/100
- Rating: ●●●●● (5/5)

### Pull Through: Sound ☺️
- Score: 57/100
- Rating: ●●●○○ (3/5)

### Pricing Details
- **Average Rate Spread:** -0.186%
  - *(Average of lender's APR minus market average APR)*
- **Average Net Fees:** $-327
  - *(Borrower paid Origination Charges minus Lender Credits)*

### Lending Volume
- **Total Loans:** 185
- **Dollar Volume:** $62 million
- **Applications Received:** 256
- **Market Share:** 1.00%

## Typical Borrower Profile

- **Average Loan Amount:** $333,595
- **Average Borrower Income:** $156,043
- **Average Property Value:** $487,919

## Safe Rate Awards 🏆

- ⭐ **Conventional Gold Superstar** (71%)
- ⭐ **Purchase Gold Superstar** (65%)
- ⭐ **Refinance Gold Superstar** (71%)

## Performance by Loan Product

| Product | Score | Volume | Avg Spread | Avg Fees | Rating |
|---------|-------|--------|------------|----------|--------|
| Conventional | 58/100 | 177 | -0.179% | $-308 | Sound ☺️ |

### Product Performance by Purpose

**Conventional:**
- Purchase: 130 loans, Score: 54/100 (Sound)
- Refinance: 47 loans, Score: 61/100 (Strong)

## Performance by Loan Purpose

| Purpose | Score | Volume | Dollar Volume | Avg Spread | Rating |
|---------|-------|--------|---------------|------------|--------|
| Purchase | 53/100 | 138 | $53M | -0.239% | Sound ☺️ |
| Refinance | 59/100 | 47 | $9M | -0.034% | Sound ☺️ |

## State Performance

| State | Volume | Market Share | Place Score |
|-------|--------|--------------|-------------|
| CT | 175 | 0.51% | 78/100 |
| RI | 10 | 0.09% | 44/100 |

## Top Metro Markets (MSAs)

| Market | State | Volume | Place Score |
|--------|-------|--------|-------------|
| Norwich | CT | 81 | 92/100 |
| Hartford | CT | 72 | 72/100 |
| Non |  | 14 | 28/100 |
| Providence | RI-MA | 10 | 44/100 |

## Where This Lender Ranks

Charter Oak Federal Credit Union appears in the following market rankings:

### Best Overall Mortgage Lenders

- 🥈 **#2** in Connecticut for Conventional Loans (Credit Unions)
  - [View Full Rankings](https://saferate.com/connecticut/best-mortgage-lenders/credit-unions/conventional-loans)
- 🥈 **#2** in Norwich for Conventional Loans (Credit Unions)
  - [View Full Rankings](https://saferate.com/norwich/best-mortgage-lenders/credit-unions/conventional-loans)
- 🥈 **#2** in Hartford for Conventional Loans (Credit Unions)
  - [View Full Rankings](https://saferate.com/hartford/best-mortgage-lenders/credit-unions/conventional-loans)
- 🥉 **#3** in Connecticut Credit Unions
  - [View Full Rankings](https://saferate.com/connecticut/best-mortgage-lenders/credit-unions)
- 🥉 **#3** in Connecticut for Jumbo Loans (Credit Unions)
  - [View Full Rankings](https://saferate.com/connecticut/best-mortgage-lenders/credit-unions/jumbo-loans)
- 🏆 **#5** in Norwich for Conventional Loans
  - [View Full Rankings](https://saferate.com/norwich/best-mortgage-lenders/conventional-loans)
- 🏆 **#6** in Norwich
  - [View Full Rankings](https://saferate.com/norwich/best-mortgage-lenders)
- 🏆 **#18** in Hartford
  - [View Full Rankings](https://saferate.com/hartford/best-mortgage-lenders)
- 🏆 **#20** in Hartford for Conventional Loans
  - [View Full Rankings](https://saferate.com/hartford/best-mortgage-lenders/conventional-loans)

## Frequently Asked Questions

### What loan types does Charter Oak Federal Credit Union offer?

Charter Oak Federal Credit Union offers the following mortgage loan types: Conventional. Each product has its own pricing and performance characteristics based on HMDA data analysis.

### Where does Charter Oak Federal Credit Union offer mortgages?

Charter Oak Federal Credit Union offers mortgages in 2 states: CT, RI.

### How competitive are Charter Oak Federal Credit Union's mortgage rates?

Charter Oak Federal Credit Union has a pricing score of 84/100 (Exceptional), based on analysis of their loan data including average rate spread and fees compared to market benchmarks.
Their average rate spread is 0.186% below market average.

### What type of lender is Charter Oak Federal Credit Union?

Charter Oak Federal Credit Union is a member-owned financial cooperative that typically offers competitive rates to its members, headquartered in Waterford, CT.

### What is Charter Oak Federal Credit Union's loan approval success rate?

Charter Oak Federal Credit Union has a pull-through score of 57/100 (Sound). Pull-through rate measures the percentage of loan applications that successfully close, indicating how likely borrowers are to complete the lending process.

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## Data Attribution

**Source:** Safe Rate (saferate.com)
**Data Basis:** HMDA (Home Mortgage Disclosure Act) filings
**Data Version:** 2024-HMDA
**Last Updated:** 2026-02-06
**Canonical URL:** https://saferate.com/lenders/charter-oak-federal-credit-union

### How to Cite

> "Charter Oak Federal Credit Union Mortgage Lender Profile." Safe Rate, 2026. https://saferate.com/lenders/charter-oak-federal-credit-union

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