AUBURN HILLS, Mich.– Genisys Credit Union has been named the 2022 Outstanding Credit Union of the Year, Large Asset Size, Award by the Michigan Credit Union League (MCUL).
The award recognizes a credit union for outstanding contributions towards member services and community engagement, according to the league.
“We are honored to be named Outstanding Credit Union of the Year by the MCUL. The Genisys team is committed to upholding a sound financial & operational foundation in order to build an environment that best meets the needs of our members,” said President/CEO Jackie Buchanan. “This award validates and attests to the endless contributions the team makes for continued success. A big thank you to our members for making us their credit union of choice. We appreciate your continued support.”
The 85-year-old Genisys CU, the fourth-largest credit union in Michigan with than 250,000 members and 33 branches, said its “expertise isn’t rooted in volume. It comes from their team creating and maintaining an environment built on financial strength, product & service excellence, and community giveback to best serve their members, businesses, and communities.”
The Benefits
Genisys said it:
- Has a net worth ratio of 15.19% and an efficiency ratio of 44.17%, and “creates a business environment that upholds the betterment of those that they serve by giving back to their members.” Genisys recently ranked in the 99th percentile for member giveback by Raddon Financial, meaning “Genisys gives more back to members than 99% of the credit unions in the country that Raddon works with. This giveback comes in the form of low loan rates, high deposit rates, low fees, and more.”
- Offers products and services that grow members' financial position, including a Genius High Yield Checking on which members are paid an annual percentage yield (APY) of 4.07% and receive debit card rewards. Those 18 and under have a High Yield Youth Savings with an APY of 5.12% on balances up to $500. “This program aims to help our youngest members learn the importance of financial literacy by growing their savings,” said Buchanan. “Financial knowledge and capability are key in empowering an individual to reach their goals for financial freedom and choice - it’s never too early to start that education.”
- Has a culture Genisys that invests in and supports building a strong future for their communities. “They guide their actions with a Committed to Community approach, ensuring they foster sustainable solutions through projects that help community members learn, grow, and thrive by focusing on areas of social investment, diversity, equity, and inclusion, and volunteering.”
Elevating Communities
“We work to elevate our communities through many channels such as scholarship opportunities, financial literacy initiatives, event partnerships, and more; giving back for a greater tomorrow,” said Buchanan. “The team also emphasizes the importance of giving back through a commitment to time. Annually, the team at Genisys volunteers over 3,000 hours of their time with our community events and partners; understanding that building relationships and creating connections is the foundation of community.”
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