Lender review
ELGA Credit Union review: what Michigan borrowers should know
ELGA Credit Union in Burton has served the Flint and Genesee County area since 1951 and offers a full government-loan menu — conventional, FHA, VA, and USDA — with a published 620 minimum score and portfolio loans it keeps in-house. For mid-Michigan buyers who want FHA or zero-down VA/USDA from a local credit union, it's a straightforward option.
Best for: flint and genesee county buyers wanting a full government-loan menu
- Headquarters
- Burton, MI
- Founded
- 1951
- NMLS
- #408938
- Min. credit score
- 620
- Min. down payment
- 3%
- MSHDA MI Home Loan
- Not on the list
What works
- Full FHA, VA, and USDA government-loan menu
- Publishes a clear 620 minimum credit score
- In-house portfolio lending for flexibility
What to watch
- Footprint concentrated around Flint/Genesee County
- Third-party data notes a higher denial rate
- Smaller and more regional than statewide lenders
The full picture on ELGA Credit Union
Burton sits right against Flint, and that's the community ELGA has banked since 1951. For mid-Michigan buyers, its appeal is refreshingly boring: a full government-loan menu offered with a plainly published 620 minimum score.
No coy 'call us' pricing
Zero-down VA and USDA sit alongside FHA, which suits a Genesee County market where affordability is the constant conversation.
Two things to weigh
The branch network hugs the Flint and Genesee County area, so members farther afield lean on remote service.
Third-party lending data has flagged a denial rate on the higher side — worth knowing before you apply to this distinctly regional operation.
Loan programs at ELGA Credit Union
Which core Michigan loan types ELGA Credit Union offers, with the typical minimum down payment for each program. Program floors are industry standards — ELGA Credit Union's own minimums or credit overlays may run higher.
| Loan program | Offered | Typical min. down |
|---|---|---|
| Conventional | ✓ Yes | 3% |
| FHA | ✓ Yes | 3.5% |
| VA | ✓ Yes | 0% |
| USDA | ✓ Yes | 0% |
| Jumbo | — No | — |
| Construction | — No | — |
Also offers: Portfolio.
Where ELGA Credit Union's credit bar sits
ELGA Credit Union's roughly 620 minimum sits in the good credit range. Below, that 620 floor is plotted against the four broad credit tiers and the 620 median for the 55 Michigan lenders we track.
| ELGA Credit Union | Michigan median* | |
|---|---|---|
| Editorial score | 4.0 / 5 | 4.0 / 5 |
| Min. credit score | 620 | 620 |
| Loan programs offered | 5 | 5 |
| Michigan-headquartered | Yes | — |
*Median across the 55 Michigan lenders in our catalog.
Compare: Advia Credit Union Dort Financial Credit Union Frankenmuth Credit Union This week's Michigan rates
ELGA Credit Union: frequently asked questions
What credit score do you need for a ELGA Credit Union mortgage?
ELGA Credit Union generally looks for a credit score around 620 on its most common loans. Its FHA loans can go lower — often to 580, or 500 with a larger down payment — while conventional and jumbo loans usually want higher scores. That 620 is a floor, not a promise: every lender layers on its own overlays, and approval still turns on your income, debts and the property.
Will ELGA Credit Union sell my mortgage after closing?
Often not. ELGA Credit Union is noted for keeping servicing in-house rather than selling it, so the company you send payments to is more likely to stay the same after closing — a real plus if servicing transfers frustrate you.
Independent and unpaid — ELGA Credit Union did not pay for placement. How we score every lender (and where our rate data comes from) is set out in our editorial policy. Figures reflect public information as of 2026-07-16 and can change; the only rate that binds a lender is a written Loan Estimate. Verify the license at NMLS Consumer Access (#408938). MSHDA status reflects the state's MI Home Loan lending-partners list dated June 12, 2026, which changes over time.