2026-09-11T08:19:23+00:00 2025-12-31 331498605 PLANTE & MORAN PLLC 750 TRADE CENTER WAY SUITE 300 PORTAGE MI 49002 990 2025-01-01 381231023 HONOR CREDIT UNION HONO 2699836357 8385 EDGEWOOD DRIVE BERRIEN SPRINGS MI 49103 SCOTT MCFARLAND CEO 2026-09-11 true JOSHUA T NITZ CPA P01946955 2695674500 2026-09-11 2025 SCOTT MCFARLAND 8385 EDGEWOOD DRIVE BERRIEN SPRINGS MI 49103 173425297 false X WWW.HONORCU.COM X 1934 MI TO PROVIDE FINANCIAL SERVICES TO RESIDENTS OF THE STATE OF MICHIGAN. 9 9 574 9 771471 158814 0 120834197 125862857 6467800 10150498 634928 701244 127936925 136714599 0 0 42007499 47323621 0 0 69507513 74221910 111515012 121545531 16421913 15169068 1705014823 1808272915 1519352936 1598229696 185661887 210043219 PROVIDING SOLUTIONS FOR FINANCIAL SUCCESS. false false SERVED 105,536 MEMBERS BY OFFERING LOANS, DEPOSITS AND VARIOUS OTHER FINANCIAL SOLUTIONS TO ENSURE FINANCIAL SUCCESS TO OUR MEMBERSHIP. 0 false false false false false false false false true false true true false false true true false true false false false false false false false false false false false true false false false false false true false false false false false false false false true false false false false false true 35943 0 true 574 true true true false false false false false false false X 9 9 false false false false true true true true true false false false true true true true true true true true false false X SCOTT MCFARLAND 2699836357 8385 EDGEWOOD DRIVE BERRIEN SPRINGS MI 49103 BRIAN BROWN CHAIR 2.0 0.0 X X 0 0 0 GREG VAUGHN SECRETARY 2.0 0.0 X X 0 0 0 MIMI ELWELL VICE CHAIR 2.0 0.0 X X 0 0 0 RON GRIESINGER TREASURER 2.0 0.0 X X 0 0 0 BREANNA BELL ASSOCIATE DIRECTOR 2.0 0.0 X 0 0 0 PAIGE EAGON DIRECTOR 2.0 0.0 X 0 0 0 PANO ARVANITIS ASSOCIATE DIRECTOR 2.0 0.0 X 0 0 0 RANDY O'NEIL DIRECTOR 2.0 0.0 X 0 0 0 STEPHEN SMITH DIRECTOR 2.0 0.0 X 0 0 0 HEATHER LUCIANI CHIEF STRATEGY OFFICER 40.0 0.0 X 367343 0 36246 SCOTT MCFARLAND CHIEF EXECUTIVE OFFICER 40.0 0.0 X 824936 0 60321 KATHERINE BERRY CHIEF PEOPLE OFFICER 40.0 0.0 X 367316 0 32377 KENT FIGY CHIEF LENDING OFFICER 40.0 0.0 X 300466 0 44640 MEGAN HENDRIX CHIEF OPERATIONS OFFICER 40.0 0.0 X 387985 0 51220 EDWARD FREED VP OF INNOVATION TECHNOLOGY 40.0 0.0 X 262113 0 29237 JENNIFER PATRICK VP OF MEMBER EXPERIENCE 40.0 0.0 X 239075 0 40195 LYNNEISE GADDIE VP OF REAL ESTATE 40.0 0.0 X 247669 0 27496 MARSHALLL WILLIAMS VP OF FINANCE 40.0 0.0 X 227535 0 25467 MATTHEW NORDBERG MORTGAGE LOAN OFFICER 40.0 0.0 X 375828 0 47321 3600266 0 394520 59 false true false INNOVATIVE CARD SERVICES 358 S ELKHART AVE SUITE 300 ELKHART IN 46516 VISA PREPAID CARDS 3392909 CUANSWERS 6000 28TH STREET SE SUITE 100 GRAND RAPIDS MI 49546 CORE SERVICE PROVIDER 1720290 CORELATION INC 2305 HISTORIC DECATUR RD SAN DIEGO CA 92106 CORE SERVICE PROVIDER 1374789 CRESSY COMMERCIAL REAL ESTATE 4100 EDISON LAKES PARKWAY SUITE 350 MISAWAKA IN 46545 BUILDING SERVICES 1253372 E C MOORE OF BERRIEN COUNTY INC PO BOX 301 EAU CLARIE MI 49111 GENERAL CONTRACTOR 1193519 71 0 LOAN INTEREST INCOME 522100 93871353 93871353 FEES AND CHARGES 522100 29775135 29579456 195679 SALES OF MORTGAGES 522100 1165590 1165590 MORTGAGE PRODUCTION FEES 522100 1050779 1050779 0 0 0 0 125862857 9519196 9519196 125452 0 125452 0 125452 125452 37342000 36710698 0 631302 631302 631302 0 COMMISSIONS 522100 575792 575792 0 0 0 0 575792 136714599 125667178 771471 10275950 2472850 30224861 816057 11229273 2580580 973611 468887 148539 655344 3498178 1469301 4332010 3763097 387562 894164 1834175 4507823 450216 INTEREST PAID ON MEMBER 25106392 CREDIT AND DEBIT CARD F 9274955 PROVISION FOR LOAN LOSS 8021491 LOAN SERVICING 2934523 5501642 121545531 34550443 28475905 31924373 77031493 11998 4040 4867977 4995415 0 0 1312903787 1357509498 3397878 5012913 81007242 20113150 59616117 60894092 1350524 2752989 214681561 227311894 0 346075 346075 41364090 43938601 1705014823 1808272915 10645895 9029697 2603750 0 0 0 40000000 40000000 1466103291 1549199999 1519352936 1598229696 0 0 185661887 210043219 185661887 210043219 1705014823 1808272915 15169068 9212264 0 X false true true false false false 9868012 9868012 46438305 9116024 37322281 23455020 10997126 12457894 1245905 1245905 60894092 CLOSELY-HELD EQUITY INTERESTS FINANCIAL DERIVATIVES U.S. GOVERNMENT AND FEDERAL AGENCY SECURITIES 82438428 MORTGAGE-BACKED SECURITIES 54710413 NEGOTIABLE CERTIFICATES OF DEPOSIT 2648205 STATE AND MUNICIPAL BONDS 47367942 COLLATERALIZED MORTGAGE OBLIGATIONS 17542767 CORPORATE BONDS 13687529 PREFERRED STOCK 8916610 227311894 FEDERAL INCOME TAXES MEMBERS' SHARES AND SAVINGS 1549199999 1549199999 X 145926863 9212264 0 9212264 136714599 0 0 136714599 121545531 0 0 121545531 0 0 121545531 SCHEDULE D, PART X, LINE 2 FIN 48 (ASC 740) FOOTNOTE THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES. HOWEVER, THE CREDIT UNION MAY BE SUBJECT TO UNRELATED BUSINESS INCOME TAX. THE NET UNRELATED BUSINESS INCOME TAX IS IMMATERIAL TO THE FINANCIAL STATEMENTS AS A WHOLE. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE CREDIT UNION AND RECOGNIZE A TAX LIABILITY IF THE CREDIT UNION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE CREDIT UNION AND HAS CONCLUDED THAT, AS OF DECEMBER 31, 2025 AND 2024, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE CREDIT UNION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. X X false true false SCOTT MCFARLAND CHIEF EXECUTIVE OFFICER 581543 0 196051 0 47342 0 41976 0 18345 0 885257 0 0 0 HEATHER LUCIANI CHIEF STRATEGY OFFICER 286448 0 72677 0 8218 0 31806 0 4440 0 403589 0 0 0 MEGAN HENDRIX CHIEF OPERATIONS OFFICER 267521 0 73644 0 46820 0 32875 0 18345 0 439205 0 0 0 KATHERINE BERRY CHIEF PEOPLE OFFICER 251298 0 59643 0 56375 0 27940 0 4437 0 399693 0 0 0 KENT FIGY CHIEF LENDING OFFICER 239323 0 58906 0 2237 0 26326 0 18314 0 345106 0 0 0 MATTHEW NORDBERG MORTGAGE LOAN OFFICER 10001 0 2203 0 363624 0 34000 0 13321 0 423149 0 0 0 EDWARD FREED VP OF INNOVATION TECHNOLOGY 158234 0 33255 0 70624 0 12659 0 16578 0 291350 0 0 0 JENNIFER PATRICK VP OF MEMBER EXPERIENCE 193942 0 43083 0 2050 0 21334 0 18861 0 279270 0 0 0 LYNNEISE GADDIE VP OF REAL ESTATE 179334 0 35496 0 32839 0 9587 0 17909 0 275165 0 0 0 MARSHALLL WILLIAMS VP OF FINANCE 191103 0 35112 0 1320 0 21318 0 4149 0 253002 0 0 0 SCHEDULE J, PART I, LINE 3 ARRANGEMENT USED TO ESTABLISH THE TOP MANAGEMENT OFFICIAL'S COMPENSATION COMPENSATION FOR THE CEO, OTHER OFFICERS, AND KEY EMPLOYEES IS APPROVED BY BOTH HUMAN RESOURCES AND THE BOARD OF DIRECTORS. SCHEDULE J, PART I, LINE 4B SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN THE CREDIT UNION EXECUTIVIES PARTICIPATE IN A 457F PLAN. ALL PLANS ARE SUBJECT TO FORFEITURE AND EACH PLAN HAS A DOCUMENTED VESTING PERIOD. THE FOLLOWING INDIVIDUALS LISTED ON FORM 990, PART VII, SECTION A PARTICIPATED IN THE PLAN DURING THE YEAR. HEATHER LUCIANI KENT FIGY KATHERINE BERRY MEGAN HENDRIX LYNNEISE GADDIE SCHEDULE J, PART I, LINE 4B SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN A SELECT GROUP OF SENIOR EXECUTIVES PARTICIPATE IN A SPLIT DOLLAR LIFE INSURANCE ARRANGEMENT. UNDER THIS ARRANGEMNT THE ORGANIZATION HAVE MADE LOANS TO EXECUTIVES TO PURCHASE LIFE INSURANCE POLICIES. FOR FURTHER INFORMATION SEE SCHEDULE L, PART II. SCOTT MCFARLAND CHIEF EXECUTIVE OFFICER SPLIT DOLLAR LIFE INSURANCE X 2500000 2866403 false true true SCOTT MCFARLAND CHIEF EXECUTIVE OFFICER SPLIT DOLLAR LIFE INSURANCE X 1900000 2129012 false true true 4995415 SCHEDULE L, PART II LOANS TO AND FROM INTERESTED PERSONS: (A) NAME OF PERSON: SCOTT MCFARLAND (B) RELATIONSHIP WITH ORGANIZATION: CHIEF EXECUTIVE OFFICER (C) PURPOSE OF LOAN: SPLIT DOLLAR LIFE INSURANCE (A) NAME OF PERSON: SCOTT MCFARLAND (B) RELATIONSHIP WITH ORGANIZATION: CHIEF EXECUTIVE OFFICER (C) PURPOSE OF LOAN: SPLIT DOLLAR LIFE INSURANCE FORM 990, PART VI, LINE 15 THE BOARD OF DIRECTORS IS AWARE OF THE USE OF SALARY.COM SOFTWARE FOR ASSISTING WITH COMPENSATION FOR ALL EMPLOYEES. COMPENSATION FOR THE CEO, OTHER OFFICERS, AND KEY EMPLOYEES IS APPROVED BY BOTH HUMAN RESOURCES AND THE CEO OR THE BOARD OF DIRECTORS. THIS PROCESS WAS LAST COMPLETED DURING 2025. FORM 990, PART VI, LINE 6 CLASSES OF MEMBERS OR STOCKHOLDERS EVERY INDIVIDUAL THAT HAS AN ACCOUNT WITH THE CREDIT UNION IS CONSIDERED A MEMBER OF THE CREDIT UNION. THE CREDIT UNION CURRENTLY HAS 105,536 MEMBERS. FORM 990, PART VI, LINE 7A MEMBERS OR STOCKHOLDERS ELECTING MEMBERS OF GOVERNING BODY THE MEMBERS OF THE CREDIT UNION ARE RESPONSIBLE FOR ELECTING THE BOARD OF DIRECTORS. FORM 990, PART VI, LINE 7B DECISIONS REQUIRING APPROVAL BY MEMBERS OR STOCKHOLDERS THE MEMBERS OF THE CREDIT UNION MUST APPROVE A MERGER INTO ANOTHER CREDIT UNION. ALL OTHER DECISIONS ARE MADE BY THE BOARD OF DIRECTORS. FORM 990, PART VI, LINE 11B REVIEW OF FORM 990 BY GOVERNING BODY BEFORE THE 990 WAS FILED, AN ELECTRONIC COPY OF THE DRAFT WAS SENT TO THE BOARD OF DIRECTORS AND VP OF FINANCE, VIA EMAIL, FOR THEIR REVIEW. ALL OF THE BOARD MEMBERS WERE GIVEN THE OPPORTUNITY TO CONTACT THE CREDIT UNION'S MANAGEMENT WITH ANY QUESTIONS OR CONCERNS THEY HAD REGARDING THE FORM 990 RETURN. FORM 990, PART VI, LINE 12C CONFLICT OF INTEREST POLICY AUDIT LINK IS A SERVICE WE USE TO MONITOR ALL EMPLOYEE AND BOARD MEMBER ACCOUNTS. ACCOUNTS ARE MONITORED WEEKLY BY AUDIT LINK AND A REPORT IS SENT TO HUMAN RESOURCES WITH THE FINDINGS, HUMAN RESOURCES DOES A REVIEW OF ACCOUNTS AND INVESTIGATES IF NEEDED. COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY IS MONITORED THROUGH HONOR CREDIT UNION 38-1231023 DISCUSSIONS AT THE BOARD LEVEL. IF A CONFLICT ARISES THE AFFECTED BOARD MEMBER WILL ABSTAIN FROM VOTING. FORM 990, PART VI, LINE 19 REQUIRED DOCUMENTS AVAILABLE TO THE PUBLIC GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C THE BOARD OF DIRECTORS IS RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT REVIEW AND THE SELECTION OF AN INDEPENDENT AUDITOR. THE BOARD APPROVES AN INDEPENDENT AUDITOR EACH YEAR AND MEETS TO REVIEW THE INDEPENDENT AUDITOR'S REPORT AFTER THE AUDIT IS COMPLETE. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. HONOR HOLDINGS LLC 8385 EDGEWOOD DRIVE BERRIEN SPRINGS MI 49103 822840727 HOLDING COMPANY MI -40101 1039087 HONOR CREDIT UNION HONOR INSURANCE AGENCY LLC 8385 EDGEWOOD DRIVE BERRIEN SPRINGS MI 49103 824205020 INSURANCE BROKERAGE SERVICES MI 50247 0 HONOR HOLDINGS LLC REDBUD INSURANCE SERVICES LLC 110 MAIN BUCHANAN MI 49107 383402291 INSURANCE BROKERAGE SERVICES MI 525545 409875 HONOR HOLDINGS LLC REDBUD PROPERTIES LLC 8385 EDGEWOOD DRIVE BERRIEN SPRINGS MI 49103 822840727 HOLDING COMPANY MI 0 0 HONOR HOLDINGS LLC