CommunityAmerica owns almost 62% of TruHome Solutions, sharing ownership with three other credit unions. In addition, although CommunityAmerica accounted for 46% of the CUSO's volume in 2014, 35 other participating credit unions contributed to the total, she said.

“The HMDA rules say that if you underwrite, you report,” O'Connor said. “And in our situation that is a little confusing. Some credit unions use the CUSO for everything from application processing to underwriting to selling onto the secondary market and servicing. But other credit unions might use the CUSO for only part of the process.”

O'Connor credited the CUSO's first-time home buyer program's success to involving LMI borrowers, and including government mortgage programs such as those offered through the FHA and Departments of Veterans Affairs and Agriculture.

Government agencies also gave TruHomes the green light to make the government-backed loans, she said.

“When we worked with first-time home buyers, that means we met low- and moderate-income borrowers,” O'Connor added. “They often need help with down payments, they usually need someone to explain debit to income ratio and might need to pay off some debt. They can usually benefit from one of the government-backed loan programs. It also helped that we restructured our mortgage program to make the focus more on purchase money lending than refinancing loans.”

Lending Patterns' HMDA data supported O'Connor's observations: Purchase money loans accounted for almost 67% of the CUSO's loan volume in 2014 and refinanced loans for slightly more than 33%. Additionally, TruHome split its loan volume almost exactly in thirds between conventionally insured loans, and loans made through the FHA and VA.

CommunityAmerica's 5300 report revealed it ended 2014 with delinquent loan and charge-off ratios above its peer group (0.88% versus 0.76% for delinquency and 0.50% versus 0.45% for charge-offs), and a higher return on assets (0.91% versus 0.84% for peer ROA).

Vicki Lovett, chief lending officer for Suncoast, credited its success to driving mortgage loans to LMI borrowers.

Lovett pointed out the NCUA recognized Suncoast as a low-income credit union, and the Department of the Treasury named it a community development financial institution. Those recognitions are in line with the credit union's history, she said.

“We used to have a SEG-based field of membership based primarily on schools,” Lovett said. “Working with lower- and moderate-income members kind of flowed from that.”

Like O'Connor, Lovett said Suncoast's efforts to help members move from renting to owning meant helping many LMI borrowers. However, the credit union doesn't offer FHA loans because it believes its own products and terms offer members a better deal.

Lovett said the credit union also educates LMI borrowers, focusing not only on debt-to-income ratios and the process of obtaining a mortgage, but also on the expenses and responsibilities that come with homeownership.

“We try to help first-time home buyers focus on more than just the mortgage payment,” Lovett explained. “They need to understand they will need a savings pool for when the roof leaks or the furnace dies, or some other unexpected problem happens. They need to get and maintain insurance on their homes.”

Suncoast's community-based field of membership includes 17 Florida counties, almost all of which have a down payment assistance program in place, Lovett said.

“We refer our members to those programs when they can help,” she said, adding the cooperative also verifies rent and utility payments for the past 12 months when a borrower has a thin credit file.

According to the HMDA numbers, almost 25% of Suncoast's mortgage loans in 2014 were to LMI borrowers and more than 56% were used to purchase homes. Renovating or repairing existing homes represented almost 17% of the loans and more than 33% were refis.

Suncoast's 2014 5300 report stated its delinquency and charge-off rates were much higher than its peers' (1.81% versus 0.76% for delinquency and 0.75% versus 0.45% for charge-offs), but its ROA was almost twice that of its peers (1.84% versus 0.76%).