EIN 38-1231023

Credit Unions Chartered in the State of Michigan - 58 Honor Credit Union

Name: Credit Unions Chartered in the State of Michigan - 58 Honor Credit Union financials for 2023
Creator: Cause IQ
License: https://creativecommons.org/licenses/by-nc-nd/4.0/

Programs|Personnel|Financials|Form 990s|Peers

IRS 501(c) type

501(c)(14)

Num. employees

519

City

Berrien Springs

State

Michigan

Year formed

1934

Most recent tax filings

2023-12-01

NTEE code, primary

W60: Financial Institutions, Credit Unions

Description

To serve the people of allegan, barry, berrien, branch, calhoun, cass, kalamazoo, kent, muskegon, newaygo, oceana, ottawa, st. joseph and van buren counties by providing financial services. To provide financial services to residents of the state of Michigan. Providing solutions for financial success.

Related structure

Credit Unions Chartered in the State of Michigan - 58 Honor Credit Union is child organization, under the parent exemption from Credit Unions Chartered in the State of Michigan.

Also known as...

Honor Credit Union; Berrien Teachers Credit Union

Total revenues

$113,682,685

2023

Total expenses

$94,196,589

2023

Total assets

$1,701,973,478

2023

Num. employees

519

2023

Program areas at Credit Unions Chartered in the State of Michigan - 58 Honor Credit Union

Served 107,233 members by offering loans, deposits and various other financial solutions to ensure financial success to our membership.

Personnel at Credit Unions Chartered in the State of Michigan - 58 Honor Credit Union

Name	Title	Compensation	Date of data
Scott McFarland	Chief Executive Officer	$656,695	2023-11-15
Megan Hendrix	Chief Operations Officer / Vice President of Operations	$249,340	2022-12-31
Katherine Berry	Chief People Officer	$249,267	2022-12-31
Heather Luciani	Chief Strategy Officer	$196,604	2022-12-31
Tony Mandarino	Vice President of Business Services	$205,394	2022-12-31
...and 2 more key personnel

Financials for Credit Unions Chartered in the State of Michigan - 58 Honor Credit Union

Revenues	FYE 12/2023	FYE 12/2022	% Change
Total grants, contributions, etc.	$0	$0	-
Program services	$107,479,803	$86,359,390	24.5%
Investment income and dividends	$5,642,852	$5,228,329	7.9%
Tax-exempt bond proceeds	$0	$0	-
Royalty revenue	$0	$0	-
Net rental income	$131,586	$134,372	-2.1%
Net gain from sale of non-inventory assets	$-17,701	$-1,463,681	98.8%
Net income from fundraising events	$0	$0	-
Net income from gaming activities	$0	$0	-
Net income from sales of inventory	$0	$0	-
Miscellaneous revenues	$446,145	$275,160	62.1%
Total revenues	$113,682,685	$90,533,570	25.6%

Form 990s for Credit Unions Chartered in the State of Michigan - 58 Honor Credit Union

Fiscal year ending	Date received by IRS	Form	PDF link
2023-12	2024-11-06	990	View PDF
2022-12	2023-11-15	990	View PDF
2021-12	2022-11-15	990	View PDF
2020-12	2021-09-30	990	View PDF
2019-12	2021-06-25	990	View PDF
...and 10 more Form 990s

Organizations like Credit Unions Chartered in the State of Michigan - 58 Honor Credit Union

Organization	Type	Location	Revenue
Credit Unions Chartered in the State of Michigan - 311 Alpena Alcona Area Credit Union (AAACU)	501(c)(14)	Alpena, MI	$39,576,447
Credit Unions Chartered in the State of Michigan - 425 Michigan Schools and Govt Cred	501(c)(14)	Clinton Township, MI	$159,278,248
Lake Trust Credit Union	501(c)(14)	Brighton, MI	$121,931,528
Credit UNIONS CHARTERED IN THE STATE OF MICHIGAN - 097 Vibe Credit Union (OCCU)	501(c)(14)	Novi, MI	$70,370,228
Credit Unions Chartered in the State of Michigan - 1200 Financial Plus Credit Union	501(c)(14)	Flint, MI	$49,966,116
Credit Unions Chartered in the State of Michigan - 416 Zeal Credit Union	501(c)(14)	Livonia, MI	$54,788,914
Michigan First Credit Union	501(c)(14)	Lathrup Village, MI	$123,630,180
Credit Unions Chartered in the State of Michigan - 423 Security Credit Union	501(c)(14)	Holly, MI	$35,342,586
Credit UNIONS CHARTERED IN THE STATE OF Michigan - 126 Members First Credit Union (MFCU)	501(c)(14)	Midland, MI	$54,322,500
Consumers Credit Union	501(c)(14)	Kalamazoo, MI	$132,085,885

Data update history

January 8, 2025

Used new vendors

Identified 5 new vendors, including , , , , and

December 28, 2023

Posted financials

Added Form 990 for fiscal year 2022

December 27, 2023

Updated personnel

Identified 6 new personnel

December 24, 2023

Used new vendors

Identified 3 new vendors, including , , and

September 26, 2023

Received grants

Identified 1 new grant, including a grant for $10,000 from Michigan Credit Union Foundation

Nonprofit Types

Credit unionsChapter / child organizations

Issues

No issues found

Characteristics

State / local level

General information

Address: 8385 Edgewood Dr; Berrien Springs, MI 49103
Metro area: Niles, MI
County: Berrien County, MI
Website URL: honorcu.com/
Phone: (269) 983-6357
Facebook page: HonorCreditUnion
Twitter profile: @honorcu

IRS details

EIN: 38-1231023
Fiscal year end: December
Taxreturn type: Form 990
Year formed: 1934
Eligible to receive tax-deductible contributions (Pub 78): No

Categorization

NTEE code, primary: W60: Financial Institutions, Credit Unions
NAICS code, primary: 522130: Credit Unions
Parent/child status: Child within group exemption

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Credit Unions Chartered in the State of Michigan - 58 Honor Credit Union

Program areas at Credit Unions Chartered in the State of Michigan - 58 Honor Credit Union

Personnel at Credit Unions Chartered in the State of Michigan - 58 Honor Credit Union

Financials for Credit Unions Chartered in the State of Michigan - 58 Honor Credit Union

Form 990s for Credit Unions Chartered in the State of Michigan - 58 Honor Credit Union

Organizations like Credit Unions Chartered in the State of Michigan - 58 Honor Credit Union

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