| Credit Union Charter #63004

Honor

Michigan JSON

Institution Profile

Address: 8385 EDGEWOOD ROAD BERRIEN SPRINGS, MI 49103

(269) 983-6357

Website:

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NCUA Profile:

View on NCUA →

Charter Date:

4/3/1934

Charter Type:

State

Branches:

28

Branches by Region
MI 29

Financial Overview

Total Assets
$1.81B
Total Deposits
$1.55B
Total Loans
$1.37B
Members
105,536
Employees
482 474 Full-time / 8 Part-time
Allowance for Loan Losses
$11.80M

Performance Ratios

Net Worth Ratio
12.21%
Loan-to-Deposit Ratio
88.35%
Coverage Ratio
0.86% Allowance / Total Loans

Assets, Loans & Deposits Over Time

Assets, Loans & Deposits Over Time

Total Assets: +73.54% Total Deposits: +77.80% Total Loans: +69.46% since 2020 Q1

Member Growth

Member Growth

Members: +21.13% since 2020 Q1

Employee Growth

Employee Growth

Employees: +43.03% since 2020 Q1

Loan Originations

New loans granted per quarter (calculated from YTD figures)

Loans This Year (YTD)
14,356
Amount This Year (YTD)
$385.34M

Number of Loans per Quarter

Loans Granted: -24.47% since 2020 Q1

Loan Amount per Quarter

Amount Granted: -9.91% since 2020 Q1

Loan Portfolio Breakdown

Current outstanding balances by loan type

1st Mortgages
$603.10M 44.1%
Used Vehicle
$222.18M 16.2%
HELOCs
$113.52M 8.3%
CRE: Owner-Occupied
$97.01M 7.1%
Credit Card
$68.41M 5.0%
Other Secured
$50.57M 3.7%
CRE: Non-Owner-Occupied
$46.67M 3.4%
CRE: Multifamily
$40.57M 3.0%
New Vehicle
$36.35M 2.7%
Commercial & Industrial
$29.68M 2.2%
Other Unsecured
$19.92M 1.5%
Other Real Estate
$15.02M 1.1%
Commercial Unsecured
$10.22M 0.7%
CRE: Construction
$8.35M 0.6%
CRE: Farmland
$7.03M 0.5%
Student Loans
$319,387 0.0%

Portfolio Distribution

SBA 7(a) Loan Originations

Quarterly SBA origination activity and guaranteed exposure

SBA 7(a) Originations vs Cancellations per Quarter

SBA 7(a) Approved vs Guaranteed vs Cancelled Dollars

Historical Data Table

QuarterMembersTotal AssetsTotal DepositsTotal LoansEmployees
2025 Q4 105,536 $1.81B $1.55B $1.37B 482
2025 Q3 107,343 $1.79B $1.53B $1.38B 491
2025 Q2 107,263 $1.79B $1.54B $1.35B 497
2025 Q1 107,305 $1.78B $1.54B $1.33B 493
2024 Q4 107,377 $1.71B $1.47B $1.32B 472
2024 Q3 107,471 $1.71B $1.47B $1.31B 474
2024 Q2 107,509 $1.70B $1.45B $1.32B 481
2024 Q1 107,387 $1.68B $1.42B $1.32B 446
2023 Q4 107,233 $1.70B $1.35B $1.34B 443
2023 Q3 111,229 $1.68B $1.36B $1.34B 434
2023 Q2 109,930 $1.64B $1.37B $1.28B 441
2023 Q1 108,869 $1.69B $1.39B $1.24B 424
2022 Q4 107,871 $1.59B $1.35B $1.22B 416
2022 Q3 105,934 $1.56B $1.37B $1.15B 397
2022 Q2 103,107 $1.48B $1.33B $1.05B 389
2022 Q1 100,809 $1.47B $1.32B $968.39M 377
2021 Q4 99,390 $1.44B $1.27B $911.67M 377
2021 Q3 95,803 $1.38B $1.21B $879.83M 358
2021 Q2 93,578 $1.35B $1.19B $865.94M 358
2021 Q1 91,815 $1.31B $1.15B $854.90M 344
2020 Q4 90,369 $1.22B $1.05B $848.95M 354
2020 Q3 89,507 $1.17B $1.00B $841.76M 335
2020 Q2 87,717 $1.15B $988.59M $833.35M 340
2020 Q1 87,129 $1.04B $871.39M $807.79M 337

Interest Rates

Current average rates by loan type

New Vehicle
8.65%
Used Vehicle
8.65%
1st Mortgage (Fixed)
5.27%
HELOC
7.81%
Credit Card
15.39%
Other Unsecured
15.48%