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Displaying items by tag: Honor Credit Union

Sunday, 06 June 2021 11:47

MiBiz Growth Report: June 6, 2021

Here is the MiBiz Growth Report for June 6, 2021.

Published in Economic Development
Friday, 28 May 2021 10:07

Honor Credit Union to add Wyoming office after ATL acquisition

Honor Credit Union will add an office in the Grand Rapids area with the planned acquisition of the smaller ATL Federal Credit Union.

Published in Finance
Wednesday, 26 August 2020 15:57

Inability to refinance short-term debt pushes SW Michigan meat processor, cattle farm into bankruptcy

SCOTTS — The owners of a Southwest Michigan meat processing company and cattle operation say the businesses have fallen victim to the tight credit market brought on by the COVID-19 pandemic. 

Published in Food/Agribusiness

Sunday, 26 April 2020 17:46

TRIAL BY FIRE: SBA races to provide relief to small businesses, but some hiccups remain

The sheer volume of small businesses that have sought federal relief loans illustrates the depth and scope of the economic pain brought on by the COVID-19 pandemic.

Published in Small Business
Friday, 27 September 2019 12:42

Element 22 raises $500,000 from 10 credit unions, transitions to CUSO

PORTAGE — Kenneth Leonard and Ryan Reffitt originally set out to provide small banks and credit unions across Michigan with underwriting and other support services for writing business loans.

Published in Finance
Sunday, 09 December 2018 15:35

MiBiz Growth Report: Dec. 10, 2018

Here is the MiBiz Growth Report for Dec. 10, 2018.

Published in Articles

Tuesday, 06 November 2018 09:22

State regulators approve creation of Credit Union Trust

Seven credit unions in Michigan plans to open a new trust bank late in the first quarter of 2019 after receiving approval from state regulators.

 

Published in Finance
Saturday, 18 August 2018 15:13

7 Michigan credit unions unite to offer trust, investment services. Bankers decry tax-exempt institutions’ ‘unfair advantage’

The proposed formation of a trust bank by seven Michigan credit unions gives new fodder to a long-standing battle in the financial services industry.

Published in Finance
Thursday, 01 February 2018 13:10

Report: Honor Credit Union calls off acquisition of U.P. bank

Honor Credit Union’s proposed acquisition of Citizens State Bank of Ontonagon has been cancelled, according to a report.

Published in Breaking News

Sunday, 23 July 2017 13:53

Credit union acquisitions of community banks expected to accelerate

Two pending deals where West Michigan-based credit unions are buying small community banks follow an emerging trend nationally.

Published in Breaking News
Sunday, 25 June 2017 20:33

MiBiz Growth Report: June 26, 2017

Here is the MiBiz Growth Report for June 26, 2017:

Published in Breaking News
Sunday, 11 June 2017 21:08

MiBiz Growth Report: June 12, 2017

Here is the MiBiz Growth Report for June 12, 2017.

Published in Breaking News

Sunday, 16 April 2017 12:50

Credit unions continue growth streak in Michigan

GRAND RAPIDS — Michigan State University Federal Credit Union’s plan for a downtown office brings another player into the market as Michigan credit unions enjoy a period of strong growth.

Published in Finance
Sunday, 19 March 2017 15:49

Honor Credit Union continues filling role of consolidator

BERRIEN SPRINGS — Two pending mergers with smaller credit unions would extend Honor Credit Union into the Battle Creek and Kalamazoo areas.

Published in Finance
Sunday, 05 March 2017 20:23

MiBiz Growth Report: March 6, 2017

Here is the MiBiz Growth Report for March 6, 2017:

• M&A: American Grease Stick Co. of Muskegon was acquired last year by 3 Rivers Capital, a Pittsburgh, Pa.-based private equity firm. A manufacturer of branded automotive fluid transfer lines and related products for the automotive aftermarket industry, AGS has operations in Muskegon and the U.K. The company, which was founded in 1931, sells products through a variety of aftermarket retailers, including Advanced Auto Parts, AutoZone and Pep Boys, according to a statement. 3 Rivers purchased the company for $10 million from the Rosen family, according to a report in the Pittsburgh Business Times. The deal was backed by $9.75 million in subordinated debt and an equity co-investment from PNC Mezzanine Capital. JP Morgan Chase also provided debt financing for the transaction. Metz Lewis Brodman Must O’Keefe LLC of Pittsburgh served as legal counsel to 3 Rivers Capital. The sellers worked with investment banker Stout Risius Ross Inc. of Chicago.

Published in Breaking News

Sunday, 22 January 2017 17:09

MiBiz Growth Report: Jan. 23, 2017

Here is the MiBiz Growth Report for Jan. 23, 2017.

• M&A: Bryan Betten and Chris Baker, two veteran West Michigan dealership executives, have acquired Grand Chrysler Dodge Jeep Ram in Lowell from former owner Harvey Koning. Betten-Baker is in the process of acquiring the remaining Grand Auto Family Services Inc. dealerships owned by Koning, which include facilities in Grandville, Allegan and Lowell, said Pete Ricards, division director at Betten-Baker. The company also is acquiring a Big Rapids-based GMC dealership from Gary Trimarco Automotive group, but is waiting on manufacturer approval from General Motors to complete both deals. 

Published in Breaking News
Friday, 13 January 2017 16:22

Battle Creek credit union to merge into Honor Credit Union

Battle Creek Area Community Federal Credit Union plans to merge into Berrien Springs-based Honor Credit Union.

Published in Breaking News
Sunday, 02 October 2016 14:13

Credit unions leverage service model for growth

Chris Mason and his partners wanted to use a local lender when they sought a loan to start their business in Stevensville, just north of the Indiana border in Berrien County. 

Published in Finance