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New Board Chair for Honor Credit Union

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It’s not often that a leader will take a step back at the top of his game, but that’s exactly what Larry Olson is doing at Honor Credit Union. Olson has served on the Honor Credit Union Board as a volunteer for over 40 years, with his most recent tenure as Chair beginning in 2007. The long-time leader handed the gavel to his peer Mimi Elwell to become the new Board Chair after the 2017 Annual Meeting yesterday, Tuesday, March 21st, 2017. Olson will be transitioning into the Vice Chair role, continuing to be a strong resource for Elwell as the organization moves forward.

The growth of Honor has been tremendous under Olson’s direction of the board. At the beginning of his service in 1971, Honor, then Berrien Teachers Credit Union, had an asset size of $3.5 million and served Berrien County educators. Honor is now over $700 million in assets serving residents in the State of Michigan. Sixteen branch locations were added along with ten completed mergers. The most important aspect of Olson’s leadership was continually striving for new and better ways to serve members and their community.

Honor Credit Union CEO Scott McFarland says, “If anyone can step into Larry’s shoes without missing a beat, it’s Mimi Elwell.” He adds, “We’re fortunate to have such a passionate group of volunteer Board Members. The forward thinking of Larry, Mimi and all of our Board Members is a large reason why Honor has continued to grow while never losing our main focus – our members and our community.”

Elwell is no stranger to leadership at Honor, beginning her own volunteerism 37 years ago in 1980 as Supervisory Committee Chair. She has served the last eight years as Secretary of the Board. Her passion for Honor and the credit union industry overall will continue strong leadership for the Board, and ensure that Honor Credit Union will continue to serve more members.

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Honor Credit Union serves more than 60,000 members across the State of Michigan, driven by their mission of Providing Solutions for Financial Success and giving back to the community they serve. For additional information you can call 800-442-2800, or visit www.honorcu.com.