Credit Union 1 is a member-owned, not-for-profit financial cooperative and direct mortgage lender headquartered in Lombard, Illinois. Serving approximately 89,000 members, its service area includes the Chicago metropolitan area, northern and central Illinois, northwest Indiana, Georgia, and the Las Vegas metropolitan area.
See today’s mortgage interest rates on TrueRate.
How Credit Union 1 compares to other lenders
| Headquarters | Lombard, Illinois |
| Website | creditunion1.org |
| Rate | 0.54% less than the median rate |
| Lender fees | $1,599 (median) |
| Savings after 1 year, compared to the median interest rate | $2,098 |
| Savings after 10 years, compared to the median interest rate | $17,634 |
For a $400,000 mortgage, Credit Union 1’s rates and lender fees will likely result in savings of over $2,000 in the first year and over $17,600 after 10 years compared to the median lender.
What customers are saying
Credit Union 1’s mortgage services in Illinois receive a mix of positive and negative feedback from borrowers. Many customers praise loan officers for clear communication, personalized support, and helping navigate the mortgage process smoothly. Borrowers appreciate the credit union’s transparent policies, competitive rates, and straightforward loan terms without hidden fees, which create a positive, local lending experience. On the downside, several borrowers report frustrations with delays in mortgage processing and refinancing, as well as challenges in reaching staff or getting timely updates on their mortgage status. Communication issues and slower processing times are the most common complaints. Overall, while many members value the personalized and transparent mortgage service at Credit Union 1, concerns about responsiveness and processing delays contribute to a mixed sentiment among mortgage borrowers in Illinois.
How to compare mortgage lenders
Interest rates. Comparing rates between lenders isn’t always straightforward. Many promote low headline rates that require paying “points” upfront to buy down the interest rate. To make a true comparison, focus on the par rate (0 points) and the APR, which reflects both the interest rate and any lender fees. Even small differences can translate into significant savings over the life of the loan.
Lender fees or loan origination fees. Many lenders charge fees that add thousands to the cost of a loan. It’s important to look at both the rate and the fees together to understand the true cost of borrowing. For a $400,000 mortgage, avoiding even a $1,000 fee could contribute to meaningful savings in the first year and over the long term.
On-time close rate. Most lenders do not publicly share their on-time close rates. However, it’s a critical factor—especially if your home contract has tight deadlines. Asking about their process for meeting close dates, including underwriting and document review timelines, can give you more confidence when choosing a lender.
Pre-approval and offer letters. Some lenders offer fast pre-qualifications that may not be fully underwritten, which can weaken your offer in competitive markets. It’s important to ask whether a lender’s pre-approvals are fully underwritten and how credible their letters are when presented with an offer.
Customer satisfaction. If detailed customer review data isn’t readily available, check third-party review sites or ask the lender for references. It’s important to understand how they handle communication, responsiveness, and issue resolution throughout the loan process.
Employee reviews. Company culture often influences how clients are treated. A lender with strong employee satisfaction typically delivers better service, more organized processing, and a smoother overall experience for borrowers.
To better understand how we compare mortgage rates fairly, see our TrueRate Methodology.
If you’re ready to start your journey to homeownership, get pre-approved with Tomo Mortgage today.