Sep, 30, 2025 — HONOR CREDIT UNION is a federally insured state chartered credit union headquartered in BERRIEN SPRINGS, MI with 28 branch locations and about $1.79 billion in total assets. Opened 92 years ago in 1934, HONOR CREDIT UNION has about 107,343 members and employs 491 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | HONOR CREDIT UNION |
|---|---|
| Address: (Main Office) | 8385 Edgewood Rd BERRIEN SPRINGS, MI 49103-9004 |
| Phone: | (269) 983-6357 |
| Fax: | (269) 983-3445 |
| Website: | https://www.honorcu.com |
| Branches: | 28 branch locations |
| Members: | 107,343 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 63004 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1934 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,786,565,900 |
| CEO/Manager: | Scott M McFarland |
| Chairperson: | Brian Brown |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 73,417,912 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 997,035 |
| Real Estate Loans | 909,447,113 |
| Unsecured Loans | 89,917,093 |
| Other Loans | 364,158,484 |
| TOTAL LOANS | 1,378,242,326 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -11,866,816 |
| Land And Building | 45,810,480 |
| Other Fixed Assets | 15,196,773 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 13,535,203 |
| All Other Assets | 1,203,745 |
| TOTAL ASSETS | 1,786,565,900 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 507,253 |
| Notes & Interest Payable | 40,000,000 |
| Accounts Payable & Other Liabilities | 11,470,955 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 407,431,043 |
| Regular shares | 231,871,853 |
| All Other Shares & Deposits | 890,932,969 |
| TOTAL SHARES & DEPOSITS | 1,530,235,865 |
| TOTAL LIABILITIES | 1,582,214,073 |
| Regular Reserve | 0 |
| Other Reserves | 6,129,730 |
| Undivided Earnings | 198,222,097 |
| TOTAL EQUITY | 204,351,827 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,786,565,900 |
| INCOME & EXPENSE | |
| Loan Income | 69,774,039 |
| Investment Income | 6,510,929 |
| Other Income | 11,943,193 |
| Total Employee Compensation & Benefits | 36,917,560 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 26,265,587 |
| Non-operating Income & (Expense) | -377,767 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 6,357,358 |
| Cost of Funds | 20,101,297 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 10,814,035 |
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