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VERIDIAN CREDIT UNION
Credit Union|Waterloo, IA|Multi-Region
Loans Originated
2,707
Applications
3,381
Volume
$661 million
Offers loans directly to consumersSources loans from independent brokers
Overall Pricing
Exceptional
Overall Pull Through
Exceptional
Safe Rate Awards💎Conventional Champion💎VA Champion💎Purchase Champion💎Refinance Champion
Pricing and Pullthrough Overview
Average Rate Spread
-0.222%
The average of the lender's APR minus the market's average APR (APOR)
Average Net Fees
$334
Borrower paid Origination Charges - Lender Credits
Pullthrough Rate
80.1%
Percentage of applications that result in closed loans
Safe Rate's Summary
What They Do Well
- Offers rates 22.20 basis points below market average
- Lower than average lender fees
- Strong pull through performance
- Particularly strong in Conventional and VA and Jumbo loans
Report Card
VERIDIAN CREDIT UNION performance at a glance
| Category | Rating | Grade | Details |
|---|---|---|---|
Pricing Rate competitiveness | Exceptional | Market Leader | |
Pull Through Closing Strength | Exceptional | Market Leader | |
Products Loan Type Specialists | Specialization score by loan product | ||
Conventional | Exceptional | Market Leader | |
VA | Strong | Highly Competitive | |
Jumbo | Strong | Highly Competitive | |
Purpose Reason specialization | Specialization score by loan purpose | ||
Purchase | Exceptional | Market Leader | |
Refinance | Exceptional | Market Leader | |
Places Geographic coverage | Strong | Multi-Regional · 8 metro areas · 7 states |
Rating Scale:
Exceptional (80-100)
Strong (60-79)
Sound (40-59)
Acceptable (20-39)
Mediocre (0-19)
Typical Borrower Profile
Average Loan Amount
$244,472
Average Borrower Income
$116,116
Average Property Value
$323,319
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | Exceptional | Exceptional | Exceptional | Exceptional | 2,584 | 95.5% | -0.201% | $336 |
VA Loans | Exceptional | Strong | Exceptional | Exceptional | 94 | 3.5% | -0.795% | $276 |
Jumbo Loans | Strong | Strong | N/A | Exceptional | 29 | 1.1% | -0.449% | $332 |
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | Exceptional | Exceptional | Exceptional | Exceptional | 2,218 | 81.9% | -0.203% | $327 |
Refinance | Exceptional | Exceptional | Exceptional | Strong | 489 | 18.1% | -0.356% | $387 |
Geographic Coverage
Metro Areas
7
States Served
7
We count Washington DC as a state
Avg Place Specialization
Strong
States with Loan Originations
IAILMNMONESDWI
Top Metro Areas by Place Specialization Score
1
Waterloo, IAMSA
Volume: 771Mix: 28.48%
Place Specialization
Exceptional
2
Des Moines, IAMSA
Volume: 703Mix: 25.97%
Place Specialization
Exceptional
3
Omaha, NE, NE-IAMSA
Volume: 506Mix: 18.69%
Place Specialization
Exceptional
4
Cedar Rapids, IA, IAMSA
Volume: 204Mix: 7.54%
Place Specialization
Exceptional
5
Iowa City, IA, IAMSA
Volume: 55Mix: 2.03%
Place Specialization
Strong
6
Ames, IA, IAMSA
Volume: 31Mix: 1.15%
Place Specialization
Strong
7
Minneapolis, MN-WIMSA
Volume: 24Mix: 0.89%
Place Specialization
Sound
Top States by Place Specialization Score
1
IAState
Volume: 2,150Mix: 79.42%
Place Specialization
Exceptional
2
NEState
Volume: 485Mix: 17.92%
Place Specialization
Exceptional
3
MNState
Volume: 38Mix: 1.40%
Place Specialization
Sound
4
MOState
Volume: 15Mix: 0.55%
Place Specialization
Sound
How We Rank Lenders
Our rankings use geometric mean scoring across equally-weighted categories. This rewards lenders who perform consistently well across all metrics, not just excel in one area.
Our Point System (Max 30 Points)
10
Pricing
Rate and fee competitiveness (33%)
10
Pull Through
Reliability in closing loans (33%)
10
Product
Specialization in the loan type (33%)
💎
Champion(80%+ = 24-30 points)
⭐
Superstar(60-79% = 18-23 points)
Data Integrity & Updates
Data is updated quarterly based on the latest HMDA filings and proprietary SafeRate analysis. All metrics are calculated using standardized methodologies to ensure fair comparison across lenders.
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