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Published in Finance

Honor Credit Union to add Wyoming office after ATL acquisition

BY Friday, May 28, 2021 10:07am

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

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The acquisition will give ATL’s 1,767 members access to a far larger branch network in the Grand Rapids area and more financial services, including business lending and “robust” mortgage lending, ATL President and CEO Robert Shane said. ATL has a single office on 36th Street in Wyoming with $15.1 million in assets.

Robert Shane COURTESY PHOTO

“Partnering with Honor will allow us to deliver services to our members in 12 to 24 months that were originally a part of our five-to-ten-year plan,” Shane said.

The Berrien Springs-based Honor Credit Union presently has 23 offices in Southwest Michigan and the Upper Peninsula. The present ATL location would become Honor’s first office in Kent County.

The credit union at the end of the first quarter had $1.30 billion in total assets with total deposits of $1.14 billion, according to a quarterly filing with the National Credit Union Administration. Honor’s $854.9 million in total loans included $117.8 in commercial loans.

The 91,815-member credit union recorded $5.2 million in first quarter net income.

 
Read 6854 times Last modified on Tuesday, 01 June 2021 09:02
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