Overview
What is Honor Credit Union?
Honor Credit Union is a Michigan-based financial institution dedicated to serving the communities of Allegan, Barry, Berrien, Branch, Calhoun, Cass, Kalamazoo, Kent, Muskegon, Newaygo, Oceana, Ottawa, St. Joseph, and Van Buren counties. Through their mission, they aim to provide essential financial services, contributing to the financial success of the residents in these areas. The credit union extends its reach to serve the entire state of Michigan, demonstrating a strong commitment to its local communities.
Official website here: www.honorcu.com
What are the reviews and ratings of this charity?
Honor Credit Union is not currently rated by Charity Navigator as it does not meet the criteria for evaluation, which includes being a 501(c)(3) IRS registered nonprofit. This absence of a rating is due to the organization not qualifying under the Accountability & Finance or Impact & Measurement beacons. Without a historical evaluation available, potential donors may lack insight into its financial health and organizational impact.
Information such as total revenue, expenses, and the salary of key persons is also not available, leaving gaps in transparency that might typically inform donor decisions. However, the absence of this data does not inherently suggest negative performance; it simply underscores the restrictions of Charity Navigator's methodology for certain types of organizations.
Without registration as a 501(c)(3) entity, Honor Credit Union is not eligible for these ratings or public evaluations typically used to assess nonprofit efficacy. Consequently, there is limited public data to assist stakeholders in understanding its financial and operational metrics. There are no user reviews from GreatNonprofits available to provide further community insights.
This AI summary has been generated from information found on Charity Navigator.
Is Honor Credit Union legitimate?
Honor Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Honor Credit Union submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $1,138,468
Professional Fundraising Fees: $0
Other Salaries and Wages: $23,929,918
For more financial information, click here
Official website here: www.honorcu.com
What is the mission statement of Honor Credit Union?
Honor Credit Union is dedicated to offering financial services to the residents of Michigan. Their mission is to serve and provide financial solutions for the success of people in various counties across the state. The credit union aims to make a positive impact on the lives of Michigan residents by offering them access to essential financial services. Through their commitment to financial services, they strive to help individuals in their financial journeys and contribute to the community's overall wellbeing.
Official website here: www.honorcu.com
Who is the CEO of Honor Credit Union?
Scott Mcfarland is the CEO of Honor Credit Union The CEO's salary of Honor Credit Union is $740,398 and their total compensation is $799,693.
Official website here: www.honorcu.com
What is the revenue of Honor Credit Union?
Honor Credit Union's revenue in 2023 was $113,682,685.
Official website here: www.honorcu.com
Who are the executives of Honor Credit Union and what are their salaries?
The average compensation at Honor Credit Union during 2023 was $48,301. There are 519 employees and 9 volunteers at Honor Credit Union.
Here are 19 key members and their salaries (Honor Credit Union's CEO's salary is $740,398 and their total compensation is $799,693):
- Compensation: $740,398
- Related: $0
- Other: $59,295
- Compensation: $311,083
- Related: $0
- Other: $27,692
- Compensation: $260,154
- Related: $0
- Other: $40,641
- Compensation: $267,743
- Related: $0
- Other: $29,748
- Compensation: $293,915
- Related: $0
- Other: $43,316
- Compensation: $398,326
- Related: $0
- Other: $44,440
- Compensation: $193,365
- Related: $0
- Other: $25,728
- Compensation: $198,561
- Related: $0
- Other: $34,488
- Compensation: $191,219
- Related: $0
- Other: $32,971
- Compensation: $209,844
- Related: $0
- Other: $36,576
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.honorcu.com
Where can I find the form 990 for Honor Credit Union?
Honor Credit Union's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.honorcu.com
Learn more at the official website: www.honorcu.com
Mission Statement of Honor Credit Union
Honor Credit Union, headquartered in Michigan, is committed to delivering financial services to the residents of the state. Its mission is geared towards serving the people of Allegan, Barry, Berrien, Branch, Calhoun, Cass, Kalamazoo, Kent, Muskegon, Newaygo, Oceana, Ottawa, St. Joseph, and Van Buren counties. The credit union's primary goal is to provide valuable financial solutions, aiming for the financial success of its members.
Honor Credit Union's dedication extends beyond just offering financial services. It strives to be a trusted partner for its members in their financial journey, providing them with the necessary tools and resources to achieve their financial goals. By focusing on the needs of the Michigan community, the credit union is able to tailor its offerings to meet the unique requirements of its members.
The team at Honor Credit Union is deeply invested in the financial well-being of its members. They understand that financial success is not a one-size-fits-all solution, and they take a personalized approach to helping each member reach their goals. Whether it's through savings accounts, loans, or other financial products, Honor Credit Union is there to support its members every step of the way.
In summary, Honor Credit Union is a Michigan-based financial institution with a mission to serve its members by providing them with financial solutions and resources to ensure their financial success. It is dedicated to the well-being of the communities it serves in Allegan, Barry, Berrien, Branch, Calhoun, Cass, Kalamazoo, Kent, Muskegon, Newaygo, Oceana, Ottawa, St. Joseph, and Van Buren counties, and is committed to helping its members navigate their financial journey with confidence.
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Impact
October, 2024
Honor Credit Union has a significant impact on the communities it serves across Michigan. By offering a range of financial services tailored to the needs of individuals and businesses in Allegan, Barry, Berrien, Branch, Calhoun, Cass, Kalamazoo, Kent, Muskegon, Newaygo, Oceana, Ottawa, St. Joseph, and Van Buren counties, the organization fosters economic growth and financial stability within these regions.
The credit union is dedicated to enhancing the financial well-being of residents, providing accessible banking solutions that empower them to manage their finances more effectively. This commitment to financial success includes offering various services, such as savings accounts, loans, and financial education, which help to promote responsible financial habits and informed decision-making.
Honor Credit Union also plays a pivotal role in community development by supporting local initiatives and events, thus strengthening the social fabric of the areas it serves. Through its focus on public benefit and community service, Honor Credit Union contributes to a more financially secure and vibrant Michigan.
This information is meant to be a general summary of Honor Credit Union. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $5,642,852
- Program Service Revenue: $107,479,803
- Gross Receipts: $122,799,386
Assets and Liabilities:
- Total Assets: $1,585,559,927
- Total Liabilities: $1,442,962,820
- Net Assets: $142,597,107
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST INCOME
Revenue
$77,863,304
FEES AND CHARGES
Revenue
$27,726,788
MORTGAGE PRODUCTION FEES
Revenue
$1,218,296
SALES OF MORTGAGES
Revenue
$671,415
Organization Details
Founding Year
1934
Principal Officer
Scott Mcfarland
Website
www.honorcu.comNTEE Category
Code: W60 - Public benefit
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