Coronavirus Assistance

We're Here For You!

As we continue to track the latest updates about the coronavirus (COVID-19), we want to assure you that Honor Credit Union is here to serve your financial needs. The bottom line is your money is safe, and available to you. On this page you will find answers to frequently asked questions, our financial relief package, online banking options, and the latest tips from the Centers for Disease Control.

Resources

Frequently Asked Questions

We know that right now, you might have more questions than answers. We understand that times of uncertainty can cause feelings of uneasiness. We’ve answered some frequently asked questions to help provide some clarity. 

Are member centers open?

Yes! All member center lobbies are now reopened, and our drive-thru service remains open. To see business hours and learn about scheduling an appointment at a specific member center click here.

Can I still send a wire transfer?

Yes. Members are able to do wire transfers in person at a member center, or over the phone by calling us at 800.442.2800 and speaking with one of our member specialists via video chat. We require video chat for all wire transfers, unless you have signed a recurring wire form with Honor.

Deadline: The cutoff time for wire transfers to be sent is 4:30pm EST Monday-Friday, as the Federal Reserve must be open for wires to be sent.

How do I enroll in online banking?

Enrolling in online banking is a breeze. To get started, all you need is your member number and social security number. To enroll, click here.

Will my online bill payment be posted as scheduled?

Yes. All online bill payments will be processed like normal.

Who do I contact about card disputes and fraud?

Please call our Virtual Member Center and speak with a member of our team to dispute any charges or report fraudulent activity.

How do I get a replacement debit or credit card?

Give us a call at 800.442.2800 and a member of our team will work with you to get a replacement card sent directly to you, or coordinate delivery to you through a member center drive-thru.

I’m financially impacted by the Coronavirus and afraid I may not be able to make my next loan payment(s). What should I do?

Rest assured, we’re in this together and we’re here for you. As your world changes, we will be here to provide the financial assistance you need. Our Skip-A-Payment program allows members with eligible loans to skip a monthly loan payment so they can keep up with other financial responsibilities. You can enroll online or by giving us a call at 800.442.2800.

Again, if you or your family are experiencing financial hardship because of the current public health situation, we can help. You’re the owner, tell us what you need.

Will my online bill payment be posted as scheduled?

Yes. All online bill payments will be processed like normal.

Do I still have access to my funds if they come in through direct deposit?

Yes. Your funds will be deposited as expected. You can access your funds via online banking, mobile banking, and the Honor app. You can withdraw cash at ATMs and through drive-thru service at local member centers.

Can I still send a wire transfer?

Yes. Members are able to do wire transfers in person at a member center, or over the phone by calling us at 800.442.2800 and speaking with one of our member specialists via video chat. Note: We require video chat for all wire transfers, unless you have signed a recurring wire form with Honor.

Who do I contact about signing a loan that is in process?

If you are already working with a member specialist, they will be able to walk you through the process of signing your documents electronically. This can be done in person at a member center, or from within online banking, mobile banking, or the Honor app. You can also reach out to us at 800.442.2800 and one of our specialists from our Virtual Member Center will be able to assist you.

Can I still apply for a loan?

Yes. You can apply in person at a member center, or you can still apply for a loan or credit card online through our website.

You can visit one of our member centers, or you contact us by phone or text at 800.442.2800 during business hours:

Monday – Friday: 8:00am – 8:00pm 
Saturday: 9:00am – Noon

We can and want to help. Let us know how we can serve you.

CONTACT US

We’re here for you, and we want you to know the lines of communication are open. Call or text us at 800.442.2800, or chat live with us.

Financial Relief Options

bouncing arrow icon

Personal & Auto Loan Skip-A-Payment*

For a small application fee, you can skip a payment on an eligible Honor loan, including: auto, motorcycle, jet ski, boat, RV, ATVs, snowmobiles and personal loans.

Mortgage Payment Relief

To help our affected members, if your mortgage is through Honor Credit Union, you may be eligible for payment relief solutions.

white house icon with green background

Home Equity Payment Relief

To help our affected members, if your fixed rate home equity is through Honor Credit Union, you may be eligible for payment relief solutions.

Business Loan Payment Relief

We know that businesses of nearly every size are financially impacted right now. Our business loans may be eligible for payment relief solutions.

white paper icon with no fees text on a green background

Temporary Fees Changes

Overdraft transfer fee ($10)¹ has been waived. Courtesy Pay fee is reduced to $19 per item (check, ACH, or in-person)³

white greenpath financial wellness logo on green background

GreenPath Financial Wellness

Our partners at GreenPath Financial Wellness can help you stay on track with your budget and financial goals during these uncertain times.

Small Business Assistance

We understand you might be concerned about the impact of COVID-19 on your business. As your partner, we are here to help with solutions to fit your situation. In addition to the options offered to our members in the Honor Financial Relief Package, we wanted to make you aware of federal assistance programs you may also qualify for during these trying times.

Paycheck Protection Program

Coronavirus Aid, Relief, and Economic Security Act (CARES Act)

On March 27, 2020, The Coronavirus Aid, Relief and Economic Security Act (CARES Act) was signed into law as a relief measure for small businesses and their employees who have been adversely impacted by the current public health crisis. A key provision of this legislation is the Paycheck Protection Program, an emergency lending program designed to provide small businesses with loans to help cover their operating expenses and maintain their workforce during a temporary period of severe market disruption.

Paycheck Protection Program Flexibility Act of 2020

On Friday, June 5th the President signed into law: H.R. 7010, the Paycheck Protection Program Flexibility Act of 2020. Below are highlights of recent changes and conditions to the program for your awareness. We feel it’s important to ensure that you are aware of these updates while we are waiting for additional SBA guidance before accepting applications for forgiveness.  

  • Provides additional flexibilities to change the 75%-25% breakdown of payroll to non-payroll expenses to 60%-40%.
  • Extends the 8-week period to 24 weeks
  • Expands the safe harbor for rehiring employees by allowing that the forgiveness will not be affected by a reduction in employees if the borrower is able to document an inability to rehire individuals, to hire similarly qualified employees, or to return to the same level of business activity as it was operating at before February 15, 2020.
  • Partial loan forgiveness is now possible.
  • The borrower now has 10 months after the end of the covered period (8 or 24 weeks after funding of the PPP loan) to submit their Forgiveness Application.

FORGIVENESS APPLICATION UPDATE:

While Honor Credit Union is no longer accepting additional applications for PPP funding, we are currently working with our members who obtained PPP funding on the loan forgiveness process. 

The SBA has not yet finalized the submission protocols for the completed forgiveness applications. As a result, we are not accepting applications for loan forgiveness at this time. Our expectation is to begin taking applications once the process is fully defined by the SBA to ensure we are able to process your application effectively and efficiency.  Members will receive an additional communication from Honor as the submission window approaches with instructions on how to electronically submit the required documents.

Loan Forgiveness Applications

We encourage our business members to view Form 3508EZ first. If you do not meet one of the conditions you may use the standard application.

On June 16th the U.S. Department of the Treasury released updated Loan Forgiveness Applications to reflect the above changes. In addition, they released a new form 3508EZ.

You can qualify to use the SBA Form 3508EZ if you meet one of the conditions below.

If you do not meet one of the conditions to qualify for the form 3508EZ, we ask that you submit a standard original 3508 Loan Forgiveness Application.

Condition 1 

The Borrower is a self-employed individual, independent contractor, or sole proprietor who had no employees at the time of the PPP loan application and did not include any employee salaries in the computation of average monthly payroll in the Borrower Application Form (SBA Form 2483).

Condition 2

The Borrower did not reduce annual salary or hourly wages of any employee by more than 25 percent during the Covered Period or the Alternative Payroll Covered Period (as defined below) compared to the period between January 1, 2020 and March 31, 2020 (for purposes of this statement, “employees” means only those employees that did not receive, during any single period during 2019, wages or salary at an annualized rate of pay in an amount more than $100,000);

AND

The Borrower did not reduce the number of employees or the average paid hours of employees between January 1, 2020 and the end of the Covered Period. (Ignore reductions that arose from an inability to rehire individuals who were employees on February 15, 2020 if the Borrower was unable to hire similarly qualified employees for unfilled positions on or before December 31, 2020. Also ignore reductions in an employee’s hours that the Borrower offered to restore, and the employee refused.

Condition 3

The Borrower did not reduce annual salary or hourly wages of any employee by more than 25 percent during the Covered Period or the Alternative Payroll Covered Period (as defined below) compared to the period between January 1, 2020 and March 31, 2020 (for purposes of this statement, “employees” means only those employees that did not receive, during any single period during 2019, wages or salary at an annualized rate of pay in an amount more than $100,000); 

AND

The borrower was unable to operate during the covered period at the same level of business as before February 15th, 2020, due to compliance requirements established by the State for social distancing and customer safety requirements related to COVID-19.

Quick Links

Download Form 3508EZ

Download PPP Forgiveness Schedule A Worksheet
(Must be filled out & submitted with Form 3508EZ)

Form 3508EZ Instructions


* Please Note *

The SBA has not yet finalized the submission protocols for the completed forgiveness applications. As a result, we are not accepting applications for loan forgiveness at this time. Our expectation is to begin taking applications once the process is fully defined by the SBA to ensure we are able to process your application effectively and efficiency.

If you do not qualify for form 3508EZ, you may use the original standard 3508 forgiveness form below.

Quick Links

Download Standard Loan Forgiveness Application

Download PPP Forgiveness Schedule A Worksheet
(Must be filled out & submitted with Form 3508)

Standard Application Instructions


* Please Note *

The SBA has not yet finalized the submission protocols for the completed forgiveness applications. As a result, we are not accepting applications for loan forgiveness at this time. Our expectation is to begin taking applications once the process is fully defined by the SBA to ensure we are able to process your application effectively and efficiency.

Frequently Asked Questions

A major benefit that comes with this program is the ability to have a portion or all of your Paycheck Protection loan forgiven and turned into a grant. The forgiveness program is designed to support employment and comes with requirements on maintaining a specific level of employees and compensation during the allotted time period. Rest assured that we will share details of the forgiveness program once more information is provided by the SBA.

  • The SBA has not yet finalized the submission protocols for the completed forgiveness applications. As a result, we are not accepting applications for loan forgiveness at this time. Our expectation is to begin taking applications once the process is fully defined by the SBA to ensure we are able to process your application effectively and efficiency.
  • On June 16th the U.S. Department of the Treasury released updated Loan Forgiveness Applications to reflect the above changes. In addition, they released a new form 3508EZ to go along with the original standard 3508 application that also has updates. You can qualify to use the SBA Form 3508EZ if you meet one of the conditions listed with the application form above.
  • If you do not meet one of the conditions, we ask that you submit a standard 3508 Loan Forgiveness Application.

Any business in operation on February 15, 2020 with no more than 500 employees (or one that meets the SBA’s size standard) may be eligible, including:

  • Small businesses
  • 501(c)(3) nonprofit organizations
  • Sole proprietorships,
  • Independent contractors
  • Self-employed individuals
  • Tribal businesses
  • 501(c)(19) Veterans Organizations
  • A loan up to 2.5X your business’s average monthly payroll up to $10 million
  • Fixed rate of 1.00% APR
  • No payments for the first 6 months, then monthly principal and interest payments for 18 consecutive months, equating to a total loan term of 24 months.
  • Up to 100% of the loan can potentially be forgiven with approval
  • Payroll costs, including benefits;
  • Interest on mortgage obligations, incurred before February 15, 2020;
  • Rent, under lease agreements in force before February 15, 2020; and
  • Utilities, for which service began before February 15, 2020.
  • Compensation in excess of an annual salary of $100,000 as prorated for the covered period
  • Compensation for employees not residing in the U.S.
  • Qualified family leave wages for which a credit is allowed under the Families First Coronavirus Response Act

Economic Injury Disaster Loan (EIDL)

The Economic Injury Disaster Loan is currently being offered through the U.S Small Business Administration. If your insurance, and funding from the Federal Emergency Management Agency (FEMA), doesn’t fully cover the disaster assistance you need, you can use disaster loans for a number of purposes.

An Economic Injury Disaster Loan is a low-interest disaster loan provided by the Small Business Association (SBA) to help businesses and homeowners recover from declared disasters.

According to the SBA, “The Economic Injury Disaster Loan Program (EIDL) provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.” The process to apply for disaster assistance is simple. To qualify, your business or home must be in an affected area.

1. Check disaster declarations

See if the SBA has issued a disaster declaration in your area at disasterloan.sba.gov.

2. Apply for a disaster loan

Loans are available for businesses and homes affected by disaster.

3. Check your status

Log in to your account and check your email for updates.

We are available to assist you with any questions you may have about the EIDL Program, and can also help you with your online submission.

  • The SBA has indicated that incomplete applications will be delayed
  • Contact us at 800.442.2800 and mention that you are calling about the EIDL Program and you will be directed to a member of our team

Regardless of the challenges facing small business owners today, you continue to have our unwavering support. Our commitment to partner with you on the growth and sustainability of your business remains strong.

Member Center Lobbies Reopened

Honor is now welcoming members back through lobby doors at all member centers! While not required, members have the option to schedule an appointment for specific questions and concerns about their accounts.

Please Note: Appointments are not required for basic teller transactions.

Member Center FAQs

Here are answers to common questions about our reopened member centers:

All of our member centers are open to serve you under the following hours:

Lobby Hours:

  • Monday, Tuesday, Thursday: 9:00 am – 5:00 pm
  • Wednesday: 10:00 am – 5:00 pm
  • Friday: 9:00 am – 5:30 pm
  • Saturday: Closed

Drive-Thru Hours:

  • Monday – Thursday: 8:30 am – 5:00 pm
  • Friday: 8:30 am – 5:30 pm
  • Saturday: Closed

*Please Note: Our Connect Center in downtown Kalamazoo is open Monday – Friday 9:00 am – 5:00 pm

To ensure the safety of all parties, members can expect to see the following measures in place the next time a visit is made at their nearby Honor member center:

  • Sneeze Guards –Plexiglass barriers will be installed at teller windows and most member specialist offices.
  • Masks / Face Coverings – To comply with Executive Order 2020-147, members are required to wear a face covering while inside any Honor member center location. We continue to offer many other mask-free ways to serve you including online banking, mobile app, drive-thrus, ATMs, or call or text us at 800-442-2800.
  • Social Distancing – Please use the floor markings to maintain at least six feet from others while inside when possible. 
  • Occupancy Limits – We ask that you please limit yourself to only the person(s) necessary to perform the transaction. We reserve the right to limit the lobby occupancy if needed.
  • Yes, in accordance with Executive Order 2020-147, beginning Monday, July 13th, all members must wear a face covering while inside the member center. Executive Order 2020-147 is available here for your reference as certain exceptions are listed in section 2 of the order.
  • Honor team members will be wearing face masks.
  • If you’ve left your mask at home, that’s no problem – we offer a variety of mask-free ways to interact with us and manage your money. Simply visit us at our drive-thru or utilize online and mobile banking to access your account, deposit checks, pay bills, and more.

Safety Guidelines

Members will see posters like this as they enter member center lobbies.


image of honor credit union's safety guidelines for members entering lobbies
(Click To Enlarge)

*Please Note: Member center openings and Honor’s safety guidelines are subject to change at any time.

Online Banking Options

We offer free online banking to all of our members, whether you are using a desktop computer, laptop, tablet, or mobile phone. You can manage your money wherever you are. Whether you need to pay bills, transfer money, deposit a check, apply for a loan, or open a savings account, you can do it all online.

icon of a laptop with a dollar sign symbol on the screen

Online Banking

Review account balances, transfer funds, pay bills, open new accounts, re-order checks, and more within online banking 24/7.

icon of a mobile phone

Mobile App

Similar to online banking, review account balances, transfer funds, deposit checks and more through our robust mobile app.

icon of a mobile phone taking a picture of a check

Mobile Check Deposit

Available through our mobile app, you don’t have to leave the comfort of your own home to deposit a check – simply take a picture!

icon of a document with with a check mark in the top right corner

Online Bill Pay

Paying bills is easy and free with our online bill pay tool. Setup automatic payments, create custom notifications, and more!

icon of a arrow flying through the air

Pay Anyone

If you have a bill due, or if you owe a friend some money you can send cash via text/email using our Pay Anyone feature at no cost!

icon of a wallet

Digital Wallet

Avoid having to touch payment terminals using contact less payment tools like Apple Pay™, Google Pay™, or Samsung Pay™.

Healthy Habits

As we continue to adjust how we serve you during this trying time, we encourage all members to follow preventative actions recommended by the Centers for Disease Control (CDC) to help prevent the spread of illnesses like COVID-19.

  • Stay home when you are sick
  • Avoid touching your eyes, nose, and mouth
  • Cover your cough or sneeze with a tissue, then throw the tissue immediately in the trash
  • Clean and disinfect frequently touched objects and surfaces using regular household cleaning spray or wipes
  • Wash your hands often with soap and water for at least 20 seconds, especially after going to the bathroom, before eating, and after blowing your nose, coughing or sneezing
  • Avoid close contact with people who are sick

photo of a child washing his hands with soap at a kitchen sink

*By completing a Skip-A-Payment you are requesting Honor Credit Union to advance the loan due date equal to one month’s payment. You understand that the current balance of the loan is extended by the amount of the payment skipped and that interest will continue to accrue on your loan balance throughout the deferred payment period, which may further extend the term of your loan. If there is more than one borrower on a loan, only one borrower is required to authorize a Skip-A-Payment request.

**Three-month Deferment Offer: Interest will accrue during 90-day deferment period. First payment must be made beginning in the 4th month, on the due date disclosed in the loan agreement. Certain restrictions apply. Subject to credit approval. Limited time offer. Insured By NCUA.

***$3,000 maximum loan amount. All approved loans will receive fixed rate of 7.99% APR. Monthly payment on $2,000 loan at 7.99% APR for 18-month term would be $118.27. Subject to credit approval. Limited time offer. Insured By NCUA.

¹Transfers from other Honor deposit accounts to checking accounts.

²Early withdrawal penalties on certificates w/max of $5,000 withdrawal per 30 days. IRA rules may still apply. Consult tax advisor for advice.

³Must opt-in for one time debit and ATM transactions.

^Honor will match the term remaining on applicant’s current auto loan and beat current interest rate by 0.25% with a special floor of 2.99% APR. Any current Honor Credit Union auto loan, not eligible. Verification of rate required. No minimum loan amount required. Cash out option eligible, but remaining term may not change. Limited-time offer. Subject to credit approval.

^^0%APR promo rate applies to balance transfers of $500 or more to an Honor Credit Union Credit Card from a non-Honor Credit Union credit card. Purchases and cash advances excluded. Rate is valid until 3/31/21, after which the introductory period ends, the standard purchase APR applies. Standard variable APR: 8.49% to 25.00%, based on your creditworthiness and other factors. The annual percentage rate (APR) will vary with the market based on Prime Rate. Business Mastercard does not qualify for promotion. New and current cardholders eligible. Credit card approval depends on creditworthiness and other qualifications. Rates, terms and conditions are subject to change without notice. Limited time offer. Insured by NCUA.