Nonprofit · EIN 38-1231023
CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN
Also known as 58 HONOR CREDIT UNION
Tax-exempt · BERRIEN SPRGS, MI 49103
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $136,714,599 | $121,545,531 | $15,169,068 | $1,808,272,915 | $1,598,229,696 | $210,043,219 |
| December 31, 2024 | 990 | $127,936,925 | $111,515,012 | $16,421,913 | $1,705,014,823 | $1,519,352,936 | $185,661,887 |
| December 31, 2023 | 990 | $113,682,685 | $94,196,589 | $19,486,096 | $1,701,973,478 | $1,537,891,407 | $164,082,071 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $125,862,857
- Investment income
- $10,150,498
- Net rental income
- $125,452
- Net gain from sales of assets
- $631,302
- Other revenue
- $701,244
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $2,472,850
- Other salaries and wages
- $30,224,861
- Salaries, compensation and benefits (total)
- $47,323,621
- Professional fundraising fees
- $0
- Legal fees
- $973,611
- Accounting fees
- $468,887
- Occupancy
- $3,763,097
- Travel
- $387,562
- Depreciation
- $4,507,823
Balance sheet and other
- Total assets, start of year
- $1,705,014,823
- Total assets, end of year
- $1,808,272,915
- Total liabilities, end of year
- $1,598,229,696
- Net assets, end of year
- $210,043,219
- Land, buildings and equipment
- $60,894,092
- Publicly traded securities
- $2,752,989
- Gross unrelated business income
- $771,471
- Gross receipts
- $173,425,297
- Employees
- 574
- Volunteers
- 9
- Year formed
- 1934
- State of legal domicile
- MI
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SCOTT MCFARLAND | CHIEF EXECUTIVE OFFICER Officer | 40 | $824,936 | $60,321 |
| MEGAN HENDRIX | CHIEF OPERATIONS OFFICER Key employee | 40 | $387,985 | $51,220 |
| MATTHEW NORDBERG | MORTGAGE LOAN OFFICER Highest-paid employee | 40 | $375,828 | $47,321 |
| HEATHER LUCIANI | CHIEF STRATEGY OFFICER Officer | 40 | $367,343 | $36,246 |
| KATHERINE BERRY | CHIEF PEOPLE OFFICER Key employee | 40 | $367,316 | $32,377 |
| KENT FIGY | CHIEF LENDING OFFICER Key employee | 40 | $300,466 | $44,640 |
| EDWARD FREED | VP OF INNOVATION TECHNOLOGY Highest-paid employee | 40 | $262,113 | $29,237 |
| JENNIFER PATRICK | VP OF MEMBER EXPERIENCE Highest-paid employee | 40 | $239,075 | $40,195 |
| LYNNEISE GADDIE | VP OF REAL ESTATE Highest-paid employee | 40 | $247,669 | $27,496 |
| MARSHALLL WILLIAMS | VP OF FINANCE Highest-paid employee | 40 | $227,535 | $25,467 |
| BRIAN BROWN | CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| GREG VAUGHN | SECRETARY Trustee or director, Officer | 2 | $0 | $0 |
| MIMI ELWELL | VICE CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| RON GRIESINGER | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| BREANNA BELL | ASSOCIATE DIRECTOR Trustee or director | 2 | $0 | $0 |
4 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| PAIGE EAGON | DIRECTOR Trustee or director | 2 | $0 |
| PANO ARVANITIS | ASSOCIATE DIRECTOR Trustee or director | 2 | $0 |
| RANDY O'NEIL | DIRECTOR Trustee or director | 2 | $0 |
| STEPHEN SMITH | DIRECTOR Trustee or director | 2 | $0 |
990 for the year ended December 31, 2024: 19 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SCOTT MCFARLAND | CHIEF EXECUTIVE OFFICER Officer | 40 | $741,008 | $60,751 |
| HEATHER LUCIANI | CHIEF STRATEGY OFFICER Officer | 40 | $342,559 | $34,746 |
| KENT FIGY | CHIEF LENDING OFFICER Key employee | 40 | $331,927 | $43,220 |
| MEGAN HENDRIX | CHIEF OPERATIONS OFFICER Key employee | 40 | $315,264 | $46,367 |
| KATHERINE BERRY | CHIEF PEOPLE OFFICER Key employee | 40 | $294,086 | $29,051 |
| MATTHEW NORDBERG | MORTGAGE LOAN OFFICER Highest-paid employee | 40 | $249,275 | $40,643 |
| JENNIFER PATRICK | VP OF MEMBER EXPERIENCE Highest-paid employee | 40 | $219,562 | $45,603 |
| TONY MANDARINO | VP OF BUSINESS SERVICES Highest-paid employee | 40 | $220,159 | $38,289 |
| EDWARD FREED | VP OF INNOVATION TECHNOLOGY Highest-paid employee | 40 | $199,352 | $36,531 |
| MARSHALLL WILLIAMS | VP OF FINANCE Highest-paid employee | 40 | $211,663 | $21,364 |
| BRIAN BROWN | CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| MIMI ELWELL | VICE CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| RICHARD ATWELL | SECRETARY Trustee or director, Officer | 2 | $0 | $0 |
| RON GRIESINGER | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| CARRIE MUESSIG | ASSOCIATE DIRECTOR Trustee or director | 2 | $0 | $0 |
| PAIGE EAGON | ASSOCIATE DIRECTOR Trustee or director | 2 | $0 | $0 |
| GREG VAUGHN | DIRECTOR Trustee or director | 2 | $0 | $0 |
| RANDY O'NEIL | DIRECTOR Trustee or director | 2 | $0 | $0 |
| STEPHEN SMITH | DIRECTOR Trustee or director | 2 | $0 | $0 |
990 for the year ended December 31, 2023: 19 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| SCOTT MCFARLAND | CHIEF EXECUTIVE OFFICER Officer | 40 | $740,398 | $59,295 |
| MATTHEW NORDBERG | MORTGAGE LOAN OFFICER Highest-paid employee | 40 | $398,326 | $44,440 |
| HEATHER LUCIANI | CHIEF STRATEGY OFFICER Officer | 40 | $311,083 | $27,692 |
| MEGAN HENDRIX | CHIEF OPERATIONS OFFICER Key employee | 40 | $293,915 | $43,316 |
| KENT FIGY | CHIEF LENDING OFFICER Key employee | 40 | $260,154 | $40,641 |
| KATHERINE BERRY | CHIEF PEOPLE OFFICER Key employee | 40 | $267,743 | $29,748 |
| TONY MANDARINO | VP OF BUSINESS SERVICES Highest-paid employee | 40 | $209,844 | $36,576 |
| LYNNEISE M GADDIE | VP OF REAL ESTATE Highest-paid employee | 40 | $198,561 | $34,488 |
| EDWARD FREED | VP OF INNOVATION TECHNOLOGY Highest-paid employee | 40 | $191,219 | $32,971 |
| ALEX GRUMBINE | DIRECTOR OF COMMERCIAL RELATIONSHIPS Highest-paid employee | 40 | $193,365 | $25,728 |
| BRIAN BROWN | CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| MIMI ELWELL | VICE CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| RICHARD ATWELL | SECRETARY Trustee or director, Officer | 2 | $0 | $0 |
| RON GRIESINGER | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| CARRIE MUESSIG | ASSOCIATE DIRECTOR Trustee or director | 2 | $0 | $0 |
| PAIGE EAGON | ASSOCIATE DIRECTOR Trustee or director | 2 | $0 | $0 |
| GREG VAUGHN | DIRECTOR Trustee or director | 2 | $0 | $0 |
| RANDY O'NEIL | DIRECTOR Trustee or director | 2 | $0 | $0 |
| STEPHEN SMITH | DIRECTOR Trustee or director | 2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 8385 EDGEWOOD RD, BERRIEN SPRGS, MI 49103-9004
- In care of
- % HUMAN RESOURCES - PAYROLL
- Principal officer (990 for 2025)
- SCOTT MCFARLAND, 8385 EDGEWOOD DRIVE, BERRIEN SPRINGS, MI 49103
- Signed the 990
- SCOTT MCFARLAND, CEO
- Phone
- (269) 983-6357
- Website
- WWW.HONORCU.COM
- Return prepared by
- PLANTE & MORAN PLLC
Mission
PROVIDING SOLUTIONS FOR FINANCIAL SUCCESS.
Program accomplishments
- SERVED 105,536 MEMBERS BY OFFERING LOANS, DEPOSITS AND VARIOUS OTHER FINANCIAL SOLUTIONS TO ENSURE FINANCIAL SUCCESS TO OUR MEMBERSHIP.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 38-1231023
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Donations deductible
- No
- Exempt since
- 1956
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Group exemption
- 1359: CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN
- Assets (IRS master file)
- $1,808,272,915
- Income (IRS master file)
- $173,425,297
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $136,714,599 | $121,545,531 | $1,808,272,915 | XML |
| 990 | December 2024 | $127,936,925 | $111,515,012 | $1,705,014,823 | XML |
| 990 | December 2023 | $113,682,685 | $94,196,589 | $1,701,973,478 | XML |
| 990 | December 2022 | $90,533,570 | $71,155,529 | $1,585,559,927 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 38-1231023).
Questions about CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN
- What is the EIN of CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN?
- The employer identification number (EIN) of CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN is 38-1231023.
- Is CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1956.
- Are donations to CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN?
- The 990 for the year ended December 31, 2025 names SCOTT MCFARLAND.
- Who are the officers and directors of CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN?
- The 990 for the year ended December 31, 2025 lists 19 people; 10 received compensation from the organization, the highest $824,936 (SCOTT MCFARLAND, CHIEF EXECUTIVE OFFICER).
- How much revenue does CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $136,714,599, expenses of $121,545,531 and total assets of $1,808,272,915 at year end.
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