Published in Breaking News

Post Community Credit Union to merge with Honor Credit Union

BY MiBiz Staff Monday, February 27, 2017 10:00pm

BATTLE CREEK — Post Community Credit Union in Battle Creek plans to merge into Berrien Springs-based Honor Credit Union.

The combined credit union would have 23 offices in Michigan with assets of nearly $800 million and more than 71,000 members.

The deal is pending regulatory approval and the vote of Post Community Credit Union members as of Dec. 31, 2016.

Post Community Credit Union ended 2016 with  total assets of $84.7 million, $73.9 million in deposits and total loans of $68.5 million, according to a quarterly financial report filed with the National Credit Union Administration. Post Community recorded 2016 net income of $351,337.

Honor Credit Union has 17 offices — 14 in Southwest Michigan and three in the Upper Peninsula — and reported 64,134 members as of Dec. 31, according to its NCUA report. The credit union had total assets of $713.1 million and $587.2 million in deposits at the end of 2016 and recorded annual net income of $5.5 million.

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