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Corporation
FINANCIAL | Retail Banking
honorcu.com

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Investments

1

Partners & Customers

1

About Honor Credit Union

Honor Credit Union is a Michigan-based financial institution that offers its customers personal and business banking services, including online banking, checking and savings accounts, lending, investments, and insurance.

Honor Credit Union Headquarter Location

8385 Edgewood Road

Berrien Springs, Michigan, 49103,

United States

+1 800 442 2800

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Honor Credit Union Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
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Honor Credit Union Rank

Latest Honor Credit Union News

Honor Credit Union to merge with smaller Michigan CU

May 27, 2021

By  Ken McCarthy May 27, 2021, 4:48 p.m. EDT 1 Min Read REGISTER NOW Honor Credit Union in Berrien Springs and ATL Federal Credit Union in Wyoming, Michigan, will combine later this year. Honor has $1.3 billion of assets while ATL has $15 million. The combined organization will have more than 94,000 members and operate 24 branches across southwest Michigan, the greater Kalamazoo and Battle Creek areas, the Upper Peninsula and the greater Grand Rapids area, the institutions said in a press release Thursday. “Honor and ATL are both committed to their members and their communities. This commitment is only enhanced through our partnership. Honor is humbled to be working with ATL FCU to serve the Wyoming area and beyond as we grow together,” Honor Credit Union CEO Scott McFarland said in the release. Partnering with Honor will allow ATL to deliver services to its members in 12 to 24 months that were originally a part of its five-to-10-year plan, ATL President and CEO Robert Shane said in the press release. “Honor and ATL are both committed to their members and their communities. This commitment is only enhanced through our partnership,” said Scott McFarland, CEO of Honor Credit Union. “Our members will soon benefit from nine new shared branch locations in Greater Grand Rapids, an ATM installation at our 36th Street Branch, business lending, robust mortgage lending services that will meet the needs of our members regardless of where they are in their financial journey and more,” he said. Honor earned roughly $5.2 million in the first quarter, more than double the $2.5 million it earned a year earlier, according to call report data from the National Credit Union Administration. ATL earned $21,000 in the first quarter after reporting income of $3,000 a year earlier. The heads of the six largest banks endured a second day of testimony as House members quizzed them on overdraft fees, investments in minority businesses and other issues. Meanwhile, the executives pushed back on Democrats’ proposal to raise the corporate tax rate. Nearly a quarter of Black business owners seeking Paycheck Protection Program loans last year applied to fintechs — not far behind the percentage that turned to community banks, according to a New York Fed study. Deepening those new relationships could be a major source of growth for online lenders. The heads of the six largest banks endured a second day of testimony as House members quizzed them on overdraft fees, investments in minority businesses and other issues. Meanwhile, the executives pushed back on Democrats’ proposal to raise the corporate tax rate. Nearly a quarter of Black business owners seeking Paycheck Protection Program loans last year applied to fintechs — not far behind the percentage that turned to community banks, according to a New York Fed study. Deepening those new relationships could be a major source of growth for online lenders.

Honor Credit Union Investments

1 Investments

Honor Credit Union has made 1 investments. Their latest investment was in Element 22 Commercial Group as part of their Corporate Minority on July 7, 2019.

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Honor Credit Union Investments Activity

investments chart

Honor Credit Union Acquisitions

1 Acquisition

Honor Credit Union acquired 1 company. Their latest acquisition was ATL Federal Credit Union on May 27, 2021.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

5/27/2021

Merger

1

Date

5/27/2021

Investment Stage

Companies

Valuation

Total Funding

Note

Merger

Sources

1

Honor Credit Union Partners & Customers

1 Partners and customers

Honor Credit Union has 1 strategic partners and customers. Honor Credit Union recently partnered with CU Direct on September 9, 2019.

Date

Type

Business Partner

Country

News Snippet

Sources

9/5/2019

Partner

CU Direct

United States

Ontario, CA | September 5, 2019. Honor Credit Union Partners with CU Direct to Drive Member Loans, Streamline Loan Originations - CU Direct

CU Direct , the nationâ € ™ s leading credit union lending technology and solutions , has partnered with Honor Credit Union to implement Lending 360 , the companyâ € ™ s comprehensive account and loan origination system .

1

Date

9/5/2019

Type

Partner

Business Partner

CU Direct

Country

United States

News Snippet

Ontario, CA | September 5, 2019. Honor Credit Union Partners with CU Direct to Drive Member Loans, Streamline Loan Originations - CU Direct

CU Direct , the nationâ € ™ s leading credit union lending technology and solutions , has partnered with Honor Credit Union to implement Lending 360 , the companyâ € ™ s comprehensive account and loan origination system .

Sources

1

Honor Credit Union Team

4 Team Members

Honor Credit Union has 4 team members, including current Chief Executive Officer, Scott McFarland.

Name

Work History

Title

Status

Scott McFarland

Chief Executive Officer

Current

Ronald Lauren

President

Current

Shari Weber

Chief Financial Officer, Chief Administrative Officer

Current

Katie Berry SPHR SHRM SCP

Chief People Officer

Current

Name

Scott McFarland

Ronald Lauren

Shari Weber

Katie Berry SPHR SHRM SCP

Work History

Title

Chief Executive Officer

President

Chief Financial Officer, Chief Administrative Officer

Chief People Officer

Status

Current

Current

Current

Current

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