Honor Credit Union prides itself on giving back to its communities it serves and has just released its annual Community Impact Report highlighting what they supported in 2023.
Honor donated more than $734,000 to nearly 700 community organizations spanning from Niles to Marquette. That includes $28,000 in scholarships to high school seniors and $15,000 to outstanding area teachers.
In addition to dollars, they also encouraged team members to donate their time and talents. Nearly all 400 Honor employees spent over 3,000 hours of company time volunteering for a variety of causes throughout Michigan and Northern Indiana.
Despite a challenging housing market, Honor was able to help hundreds of Michigan families reach their dreams of home ownership, distributing over $235,000 in first-time homeowner grants, funding over 600 new mortgages or refinanced homes, and 1,100 Home Equity Loans.
An important part of Honor’s mission is to promote financial wellness and stability in the communities they serve. In 2023, they gave nearly 100 financial education presentations, more than 100 individuals received financial counseling services, and users of their Zogo, a financial education app, completed over 56,000 training modules.
Honor also put dollars back into members’ pockets. Despite high inflation and looming threats of recession, Honor members were able to earn nearly $12 million in 2023 through high interest checking, savings, CDs, money market accounts, and other savings incentive programs.
"Being Michigan-based and member-owned means we answer to our members, not stockholders. It enables us to substantially reinvest into the communities where we all live, work, and worship. We’re privileged to help contribute so much positive impact, and look forward to an even more prosperous 2024,” said Honor CEO, Scott McFarland.
