Ontonagon’s 107-year-old bank looks to be getting new owner
ONTONAGON — Staff at the Citizens State Bank in Ontonagon is expected to stay on if the bank is sold to Honor Credit Union.
“At this time both Honor Credit Union and Citizens State Bank of Ontonagon anticipate that all employees of Citizens State Bank of Ontonagon will become employees of Honor Credit Union following the combination of the two financial institutions,” said Kaylee Williams, Honor’s communication and brand manager.
“The Citizens State Bank of Ontonagon has been a part of the Ontonagon community for 107 years, and we take great pride in the responsibility of providing for our customers and bettering our community,” said Willie DuPont, Citizens State Bank of Ontonagon president, in the press release. “We are extremely excited to welcome Honor Credit Union to our community, which will allow us to provide benefits not previously possible, including numerous loan options, lower loan rates and higher deposit rates just to name a few.”
After receiving regulatory and shareholder approval, Citizens State Bank of Ontonagon will be sold to Honor Credit Union, a Michigan based credit union, the company said in a May 4 press release.
“The core of Honor Credit Union is to live our member promise of providing solutions for financial success,” said Ron Lauren, Honor Credit Union Northern Market president. “We are excited to bring this member promise to the Ontonagon community.”
Additional information will be provided to customers as the regulatory process moves forward and transition timing is determined, the company said.
“The history of service that Citizens State Bank of Ontonagon has is incredible and is a legacy that Honor Credit Union is honored to contribute to,” said Scott McFarland, Honor Credit Union CEO. “With aligning cultures and community commitments, we are looking forward to getting to know our new Ontonagon friends and neighbors.”
Honor Credit Union serves more than 60,000 members in Michigan. “Providing solutions for financial success and giving back to the communities they serve remain the driving forces behind Honor Credit Union,” according to the press release.