For Love and Money: Nearly two dozen banks, credit unions support Grand Traverse area community organizations
March 2024
Banks and credit unions play an important role in the financial lives of their customers and members, but also in the fabric of the community. There are 20 of them serving Benzie, Grand Traverse, Kalkaska and Leelanau counties.
The following is a listing of those institutions with information about the various community organizations and events they contribute to and sponsor. A few banks and credit unions did not respond to requests for information. In those cases, TCBN listed the institutions using information from their websites and other publicly available information.
Huntington Bank
Local leader: Nick Florian, market leader
Year founded: 1866
Headquarters: Columbus, Ohio
Assets: $189 billion
Notable nonprofit and/or commercial customers: Florian says Huntington works with high-profile customers of "all sizes" throughout northern Michigan, including municipalities, nonprofits, housing developers, small businesses and corporations (names not disclosed.)
Community support impact: Strategic Community Plan allocated $40 billion to small business lending, and loans and investments that foster equity in affordable housing and other areas.
Florian on community support efforts: “Huntington is committed to making people’s lives better, helping businesses thrive and strengthen the communities we serve.”
Fifth Third Bank
Local leader: Autumn Gillow, northern Michigan market executive
Year founded: 1858
Headquarters: Cincinnati, Ohio
Assets: $213 billion
Notable nonprofit and/or commercial customers: Big Brothers Big Sisters, Habitat for Humanity, The Festival Foundation, Munson Foundation, Traverse Connect and Venture North.
Gillow on community support efforts and impact: “Fifth Third invests around $100,000 annually with northern Michigan community partners. We support a number of organizations, both in financial support and board support.”
Honor Bank
Local leader: Norman Plumstead, president and chief executive officer
Year founded: 1917
Headquarters: Honor
Assets: $387.2 million
Notable nonprofit and/or commercial customers: Burritt’s Fresh Market, National Cherry Festival, Old Town Playhouse, Keen Technical Solutions, Ford Insurance, Anavon Technology Group, Crystal River Outfitters, Leelanau Construction, Bay View Insurance Agency, Jonathan Zoutendam, DDS.
Community support impact: Plumstead says that for many years, Honor Bank has partnered with the Northwest Michigan Food Coalition on a community-wide "Honor Thy Neighbor" program. In the past three years alone, the initiative has raised more than $40,000 to support the program, which stocks pantries across northern Michigan with fresh, locally grown, healthy food.
Plumstead on community support efforts: “Besides helping with the food insecurity challenge, Honor Bank contributes tens of thousands of dollars and man-hours to community service with financial education, home buyer education, cybersecurity, entrepreneurial start-up endeavors and many other community projects to benefit hundreds of organizations every year.”
Independent Bank
Local leader: David Boeve, senior vice president
Year founded: 1864
Headquarters: Grand Rapids
Assets: $5.3 billion
Notable nonprofit and/or commercial customers: Names not disclosed.
Community support impact: Employees have volunteered at the Peace Ranch, Women’s Resource Center and Northwest Michigan Ballet Theatre. The leading bank in Michigan for affordable housing grants from the Federal Home Loan Bank of Indianapolis. $1.8 million awarded last year to assist projects, including Ruth Park apartments in Traverse City, Vineyard View apartments in Suttons Bay and rehabilitation of Riverview Terrace in Traverse City. Provided $50,000 in scholarships and donations to nonprofits last year.
Boeve on community support efforts: “We support community needs our employees are passionate about, including affordable housing, food insecurity, mental health, youth sports programs and social welfare organizations.”
First Community Bank
Local leader: Anthony Palumbo, community bank president-Traverse City market
Year founded: 1905
Headquarters: Harbor Springs
Assets: $420.4 million
Notable nonprofit and/or commercial customers: Northern Michigan Supportive Housing
Palumbo on community support efforts: “We like to serve the low-income housing sector as we believe there is a great need in our community.”
First National Bank of America
Local leader: Todd Gignilliat, vice president
Year founded: 1955
Headquarters: East Lansing
Assets: $5.3 billion
State Savings Bank
Local leader: Dan Druskovich, regional president for Traverse City and Suttons Bay
Year founded: 1896
Headquarters: Frankfort
Assets: $375.2 million
Notable nonprofit and/or commercial customers: A number of notable nonprofits and businesses; names not disclosed.
Community support impact: “We listen to what our employees are passionate about. Instead of supporting one or a few entities at a major level, we do our best to support many causes, but always local.”
Druskovich on community support efforts: “We support our people when they choose to volunteer for local organizations. For example, Ian Hollands, who I work with in our Traverse City office, has served as president of the National Cherry Festival Board and continues to be closely involved with the festival. A lot of our people volunteer locally; we encourage them to do that. It’s an important part of who we are.”
West Shore Bank
Local leader: Sid Van Slyke, vice president and market leader
Year founded: 1898
Headquarters: Ludington
Assets: $742.4 million
Notable nonprofit and/or commercial customers: Dozens of local nonprofits; names not disclosed.
Community support impact: Donated $239,000 in 2023 to nonprofits in the bank’s six-county service area. Bank team members put in 2,300 volunteer hours serving communities in those counties. West Shore also offers a “community engagement room” in its Traverse City office for use by community organizations at no charge. The room hosted 107 events last year.
Van Slyke on community support efforts: “We take our role as a community bank very seriously. It’s more than just being available for banking needs; it’s doing our part to improve the community we live and work in. We’re fortunate to have 28 team members here that all understand and live that belief.”
Mercantile Bank
Local leader: Scot Zimmerman, community bank president
Year founded: 1997
Headquarters: Grand Rapids
Assets: $5.2 billion
Notable nonprofit and/or commercial customers: The bank serves a number of organically grown and transplanted locally domiciled businesses and a handful of impactful community organizations; names not disclosed.
Community support impact: Sponsorships and donations to the following organizations – Traverse Connect, Women’s Resource Center, Father Fred, Cherryland Humane Society, Veterans in Crisis, Grand Traverse Industries, Leelanau Chamber of Commerce, Suttons Bay Chamber of Commerce, Munson Healthcare Foundations, Northern Michigan College, Traverse Area Community Sailing.
Zimmerman on community support efforts: “Mercantile Bank’s community support is directed to local organizations that have a close relationship with those served, with the support meant to have an immediate impact on those in need, with a special focus on hunger, safety, shelter and healthcare. We also support undertakings that make our community strong and improve the quality of life for all.”
PNC Bank
Local leader: Sean Welsh, PNC regional president for West Michigan
Year founded: 1852
Headquarters: Pittsburgh, Pennsylvania
Assets: $557 billion
Notable nonprofit and/or commercial customers: Names not disclosed.
Community support impact: Contributes to and sponsors Up North Pride, Grand Traverse Pavilions, Early Head Start Home Visiting Programs, Northwest Michigan Habitat for Humanity, Northern Initiatives
Welsh on community support efforts: “PNC’s community efforts in northern Michigan focus on early childhood education, economic development, including arts and culture, and health and human services. Through sponsorships and grants, we support community events and organizations that benefit citizens throughout the region and help northern Michigan thrive.”
JPMorgan Chase Bank
Local leader: Julie Hunko
Year founded: 1799
Headquarters: New York City
Assets: $3.4 trillion
CREDIT UNIONS
4Front Credit Union
Local leader: Andrew Kempf, CEO
Year founded: 1954
Headquarters: Traverse City
Assets: $1.1 billion
Notable nonprofit and/or commercial customers: Norte, Big Brothers Big Sisters of Northwestern Michigan, TART Trails, Make-a-Wish Michigan, Lakeshore Habitat for Humanity
Community support impact: Donated $202,984.89 to local community organizations in 2023. Volunteered over 2,000 hours that benefited more than 100 organizations. The 4Front Foundation awarded $45,000 in grants and scholarships to high school graduating seniors last year.
Kempf on community support efforts: “Investing in our community is the greatest investment we can make, and it’s the credit union difference. Because when our community thrives, we all thrive. It’s not just about building a stronger financial future, it’s about building a stronger community, one member at a time.”
TBA Credit Union
Local leader: Karen Browne, president and CEO
Year founded: 1955
Headquarters: Traverse City
Assets: $343.7 million
Notable nonprofit and/or commercial customers: Veterans in Crisis
Community support impact: Donates to Traverse City Area Public Schools, LEAP Scholarship, Thirlby Field Banner & Scoreboard, Dry Erase Markers for elementary students. Offers a Student-Run Credit Union in nine schools, Reality Fairs in both Traverse City Central and Traverse City West High Schools.
Browne on community support efforts: “At TBA Credit Union we understand the call to service and believe we have a responsibility to make our community a better place, and it starts with our philosophy of ‘people helping people.’ Since 1955, our focus has not only been on outstanding member services but helping our community. Our entire team supports our charitable outreach through contributions and donations to over 30 local nonprofits and volunteering over 2,353 hours in 2023. In addition, we offer scholarship programs, grants, free educational seminars, our Student-Run Credit Union, high school reality fairs, community shred events, and blood drives.”
Forest Area Credit Union
Local leader: Alex Lutke, CEO
Year founded: 1983
Headquarters: Fife Lake
Assets: $238.3 million
Notable nonprofit and/or commercial customers: Not disclosed.
Community support impact: $15,000 to graduating high school seniors. A “humanity fund” that provides financial assistance to Forest Area Credit Union members dealing with catastrophic life events. Sponsors youth financial literacy programs. Donated more than $100,400 to community organizations last year.
Lutke on community support efforts: “Our commitment to our communities is ingrained in the culture of our credit union and goes way beyond financial services; it's about nurturing relationships, fostering growth, and empowering individuals to thrive. Together, we're not just building a stronger credit union; we're building stronger, more resilient communities for generations to come."
MSUFCU Credit Union
Local leader: Marie Charbonneau, assistant vice president of branches
Year founded: 1937
Headquarters: East Lansing
Assets: $7.7 billion
Notable nonprofit and/or commercial customers: McMillen’s Custom Framing, Strathmore Group, Edge 72, Socks Construction, 20 Fathoms
Community support impact: Philanthropic partnerships with Michael’s Place, Traverse City Opera House Women’s Resource Center, Habitat for Humanity. Has contributed more than $68,000 to local organizations and events since January 2023.
Charbonneau on community support efforts: “Our employees care deeply about the Traverse City Community and doing their part to create vibrant and thriving neighborhoods. In addition to corporate giving, employees donate from their personal wealth and volunteer their time with local charities. Our teams are proud to give back, anything from framing walls with Habitat for Humanity to cleaning up flower beds with the Women’s Resource Center."
Team One Credit Union
Local leader: Martin Hall, branch manager
Year founded: 1935
Headquarters: Saginaw
Assets: $738.4 million
Notable nonprofit and/or commercial customers: Names not disclosed.
Community support impact: Donations to various food banks, Father Fred Foundation, Leelanau Christian Neighbors. Michael's Place, Northwest Michigan Habitat for Humanity, Crooked Tree Center for the Arts, National Cherry Festival. Focus on supporting children, students, veterans, homeless and food banks.
Hall on community support efforts: "The largest community impact program would have to be our level of corporate sponsorship of the Cherry Fest. We know, of course, how much this annual festival brings in to the community and how much is given back through the form of proceeds and sponsorships. Team One genuinely cares about being in Traverse City and making a positive impact on all of the communities we serve. Our staff cares about not only our members but our neighbors and are here to make our community happier, healthier and more prosperous.”
Traverse Catholic Federal Credit Union
Local leader: Patty McManus, president and CEO
Year founded: 1950
Headquarters: Traverse City
Assets: $89 million
Lake Michigan Credit Union
Local leader: Carolyn Brooks, branch manager
Year founded: 1933
Headquarters: Grand Rapids
Assets: $12.9 billion
Northwest Consumers Federal Credit Union
Local leader: Tina Steed
Year founded: 1952
Headquarters: Traverse City
Assets: $28.6 million
