Gas & Electric Credit Union Mortgage Lending & HMDA Data, 2020
In 2020, Gas & Electric Credit Union of Rock Island, IL reported 101 mortgage applications totaling $14.8 million, up 135% from 2019. The average application was for $146,089, and applicants reported an average income of $109,504. 100% of its applications resulted in an originated loan and 0% were denied. Its largest markets were Davenport-Moline-Rock Island, IA-IL (86), Des Moines-West Des Moines, IA (3) and Cedar Rapids, IA (1) (applications in parentheses).
| Mortgage Company & Address | Gas & Electric Credit Union 2300 4th Ave Rock Island, IL 61201 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 |
| Total Number of Mortgage Applications | 101 |
| Total Mortgage Loan Application Amount | $14,755,000 |
| Average Mortgage Loan Application Amount | $146,089 |
| Highest Mortgage Loan Application Amount | $355,000 |
| Average Applicant Income | $109,504 |
| Highest Applicant Income | $440,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Gas & Electric Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Rock Island, Illinois | 38 | $ 4,380,000 | $ 115,263 | $ 93,000 |
| Scott, Iowa | 38 | $ 5,850,000 | $ 153,947 | $ 106,000 |
| Henry, Illinois | 6 | $ 970,000 | $ 161,666 | $ 159,000 |
| Mercer, Illinois | 4 | $ 690,000 | $ 172,500 | $ 134,000 |
| Clinton, Iowa | 3 | $ 285,000 | $ 95,000 | $ 136,000 |
| Muscatine, Iowa | 2 | $ 280,000 | $ 140,000 | $ 83,000 |
| Clay, Illinois | 1 | $ 185,000 | $ 185,000 | $ 145,000 |
| Madison, Illinois | 1 | $ 295,000 | $ 295,000 | $ 164,000 |
| Cedar, Iowa | 1 | $ 165,000 | $ 165,000 | $ 62,000 |
| Dallas, Iowa | 1 | $ 245,000 | $ 245,000 | $ 109,000 |
| Dickinson, Iowa | 1 | $ 125,000 | $ 125,000 | $ 184,000 |
| Humboldt, Iowa | 1 | $ 215,000 | $ 215,000 | $ 184,000 |
| Johnson, Iowa | 1 | $ 285,000 | $ 285,000 | $ 135,000 |
| Linn, Iowa | 1 | $ 125,000 | $ 125,000 | $ 109,000 |
| Polk, Iowa | 1 | $ 305,000 | $ 305,000 | $ 194,000 |
| Warren, Iowa | 1 | $ 355,000 | $ 355,000 | $ 131,000 |
Mortgage Loan Application Detail Totals for Gas & Electric Credit Union in 2020
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Cash-out Refinancing | 74 | $11,240,000 | $151,000 | $355,000 | $112,000 | $440,000 |
| Refinancing | 14 | $1,860,000 | $132,000 | $215,000 | $107,000 | $184,000 |
| Home Purchase | 13 | $1,655,000 | $127,000 | $295,000 | $98,000 | $164,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other Purpose | 0 | $0 | $0 | $0 | $0 | $0 |
| Home Improvement | 0 | $0 | $0 | $0 | $0 | $0 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 94 | $13,820,000 | $147,000 | $355,000 | $108,000 | $440,000 |
| Black or African American | 3 | $295,000 | $98,000 | $185,000 | $85,000 | $112,000 |
| Hispanic | 3 | $375,000 | $125,000 | $225,000 | $109,000 | $116,000 |
| Not applicable | 1 | $265,000 | $265,000 | $265,000 | $304,000 | $304,000 |
| Not Provided | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 101 | $14,755,000 | $146,000 | $355,000 | $109,000 | $440,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 101 | $14,755,000 | $146,000 | $355,000 | $109,000 | $440,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Denied By Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Withdrawn By Applicant | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Not applicable | 101 | $14,755,000 | $146,000 | $355,000 | $109,000 | $440,000 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Gas & Electric Credit Union's 2020 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess Gas & Electric Credit Union's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
For a list of all lenders in Illinois, download the full spreadsheet
with aggregated HMDA statistics today.
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