Press

Honor Credit Union reveals COVID-19 community impact numbers

BERRIEN SPRINGS, MI (June 5, 2020) — As a community partner, Honor is committed to taking care of its team and its members, especially during uncertain and uneasy times. In response to public concerns, the Honor Financial Relief Package was announced in early March 2020. The Honor Financial Relief Package offered diverse financial relief solutions, including Skip-A-Payment, which allows members to skip their next payment on eligible consumer loans without fees.

“The last few months have been challenging for many as we work through this uncertain time. Through it all, Honor remains committed to supporting the credit union philosophy of “People Helping People” and being there for our members and community during this time of need,” commented Dustin Nehls, Vice President of Consumer Lending.

Across the board, members saved $366,598 in fees waived, and $491,495 was disbursed in Financial Relief Loans to 352 members through Honor’s Financial Relief Package. The Paycheck Protection Program (PPP) provided funding for 441 loans, totaling over $30 million in assistance for small businesses. The feedback from this financial package has been remarkable and has spread to an outpouring of community support.

Honor purchased over $2,000 for team lunches across 24 member centers throughout Michigan in support of business members in our communities. Team members were gifted $100 each to support local businesses, totaling $34,000 towards economic giveback.

Additionally, Honor assisted four-legged friends at the Humane Society, donated $2,500 in gift cards to hospital staff throughout Michigan, and the organization’s IT department supplied two retired servers to the remote workforce at United Way.

About Honor Credit Union

Honor Credit Union is a non-profit, full-service financial institution serving over 110,000 members in 28 member center communities throughout western and northern Michigan. Providing solutions for financial success and giving back to the communities we serve remain the driving forces behind Honor Credit Union. For more information, call 800.442.2800, or visit www.honorcu.com.