Haris Ashley
Genisys Credit Union is a credit union based in Auburn Hills, Michigan, with over 210,000 members and assets of 2.6 billion as of October 31, 2018. It is the 5th largest credit union in Michigan and is one of the strongest financial institutions in the country. Credit unions are not-for-profit, member-owned financial cooperatives that exist to serve their members. Genisys Credit Union is a federally insured state-chartered credit union, regulated by the National Credit Union Administration (NCUA). Member deposits are federally insured by the NCUA through the National Credit Union Share Insurance Fund (NCUSIF), which is backed by the full faith and credit of the US government.
| Characteristics | Values |
|---|---|
| Type of Institution | Credit Union |
| Location | Auburn Hills, Michigan |
| Number of Members | Over 217,000 |
| Number of Branches | 32 |
| Number of ATMs | 30,000 surcharge-free ATMs |
| Number of Shared Branches | Nearly 5,000 |
| Federally Insured | Yes, by the NCUA (National Credit Union Administration) |
| Insurance Limit | $250,000 per account |
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What You'll Learn
Genisys Credit Union is federally insured by the NCUA
Genisys Credit Union is a not-for-profit, member-owned financial institution based in Auburn Hills, Michigan. It is the fifth-largest credit union in Michigan, with over 210,000 members and assets of $2.6 billion as of October 31, 2018. Genisys Credit Union has been serving its members since 1936 and is committed to providing outstanding service and value.
As a credit union, Genisys is exempt from federal and most state taxes. Credit unions are unique in that they are member-owned and democratically operated, with a focus on serving their members rather than maximising profits. This people-first philosophy often leads credit unions and their employees to get involved in community service activities and support worthwhile causes.
Genisys Credit Union is federally insured by the National Credit Union Administration (NCUA) through the National Credit Union Share Insurance Fund (NCUSIF). The NCUSIF is backed by the full faith and credit of the United States Government, ensuring the safety and security of members' deposits. Member deposits at Genisys are insured up to at least $250,000 per account, providing peace of mind and protection for its members.
The NCUA insurance demonstrates Genisys Credit Union's strength and stability as a financial institution. It reflects their commitment to conservative risk policies and their ability to safeguard members' funds through various economic cycles. With a strong financial standing, Genisys offers a safe and trusted alternative to traditional banks, prioritising the interests of its members above profits.
Genisys Credit Union's federal insurance showcases their dedication to protecting members' finances and providing a secure platform for their financial needs. This insurance coverage reinforces Genisys Credit Union's reputation as a reliable and trusted financial partner for its members.
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Member deposits are insured up to $250,000 per account
Genisys Credit Union is a credit union based in Auburn Hills, Michigan. It is the fifth-largest credit union in Michigan, with over 210,000 members and assets of 2.6 billion as of October 31, 2018. Credit unions are not-for-profit, financial cooperatives that are owned by their members. They exist solely to serve their members and are exempt from Federal and most State taxes. Each credit union member has equal ownership regardless of how much money they have on deposit.
Genisys Credit Union is a federally insured state-chartered credit union, regulated by the National Credit Union Administration (NCUA). Member deposits at Genisys are federally insured by the NCUA, through the National Credit Union Share Insurance Fund (NCUSIF). The NCUSIF is backed by the full faith and credit of the United States Government. This means that member deposits at Genisys Credit Union are insured up to $250,000 per account.
As a federally insured credit union, Genisys Credit Union operates within conservative risk policies to ensure that they remain strong and are able to serve their members through various economic cycles. Credit unions do not invest in risky endeavours and keep their investments diverse, conservative, and fairly short to maintain constant liquidity.
Genisys Credit Union has consistently received the highest ratings for safety and soundness. With a net worth of nearly two times what the National Credit Union Administration considers well-capitalized, it is one of the strongest financial institutions in the country.
By federal statute, credit unions cannot serve the general public like a bank. People qualify for credit union membership through their association with a community, employer, or other organizational affiliation. Membership in Genisys Credit Union is open to people who live, work, worship, attend school, or own a business in specific areas, including all 68 counties in the lower peninsula of Michigan, and several counties in Minnesota and Pennsylvania.
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Genisys is one of the strongest financial institutions in the country
Genisys Credit Union is one of the strongest financial institutions in the country. It is a not-for-profit, member-owned financial institution that has been committed to helping its members financially since 1936. Based out of Auburn Hills, Genisys is one of the largest credit unions in Michigan with over 210,000 members and assets of 2.6 billion as of 2018. They operate 28 branch locations in Michigan, 3 in Minnesota, and 1 in Pennsylvania, with nearly 5,000 shared branches and 30,000 surcharge-free ATMs.
Genisys Credit Union is a safe and secure place to keep your money. They consistently receive the highest ratings for safety and soundness and are focused on providing their members with convenience and quality service. They are ranked as one of the top 100 safest credit unions in the country by BankRate.com and are listed in the top 200 healthiest credit unions in the country by DepositAccounts.com. Genisys is also one of the few financial institutions that are federally insured. Member deposits at Genisys are federally insured by the NCUA through the National Credit Union Share Insurance Fund (NCUSIF), which is backed by the full faith and credit of the United States Government. This means that Genisys Credit Union member deposits are insured up to at least $250,000 per account.
Genisys Credit Union is a wise choice for those looking for a financial institution. They offer a comprehensive mobile banking app, an excellent high-yield checking account, and low-interest rate loans. They also provide a variety of resources and tools to help their members manage their finances, such as budget management, understanding credit scores, debt consolidation, and retirement planning.
Unlike banks and other financial institutions, credit unions like Genisys do not issue stock or pay dividends to outside stockholders. Instead, earnings are returned to their members in the form of lower loan rates, higher interest on deposits, lower fees, enhanced service, and financial stability. Credit unions are also exempt from Federal and most State taxes because they are member-owned, democratically operated, and not-for-profit. This allows Genisys to keep their investments diverse, conservative, and fairly short, ensuring constant liquidity.
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The credit union is based in Auburn Hills, Michigan
Genisys Credit Union is a credit union based in Auburn Hills, Michigan. It is the fifth-largest credit union in Michigan, with over 210,000 members and assets of around $2.6 billion as of October 31, 2018. The credit union operates 28 branches in Michigan, three in Minnesota, and one in Pennsylvania.
As a credit union, Genisys is a not-for-profit, member-owned financial institution. This means that each member has equal ownership, regardless of how much money they have on deposit. Earnings are returned to members in the form of lower loan rates, higher interest on deposits, lower fees, and enhanced services. Credit unions do not issue stock or pay dividends to outside stockholders. Instead, they exist to help people and serve their members, even those of modest means.
Genisys Credit Union was officially chartered in 1936 and has been committed to helping its members financially ever since. The credit union is a federally insured, state-chartered credit union regulated by the National Credit Union Administration (NCUA). Membership in Genisys Credit Union is open to people who live, work, worship, attend school, or own a business in specific areas, including all 68 counties in the lower peninsula of Michigan and several counties in Minnesota and Pennsylvania.
In addition to its financial services, Genisys Credit Union is also involved in community service activities and worthwhile causes. They sponsor over 400 community events a year and provide over 4,000 hours of hands-on volunteer support. The credit union is proud to be a part of the community and believes that Genisys is "where you come first."
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Genisys Credit Union has over 210,000 members
Genisys Credit Union is a credit union based in Auburn Hills, Michigan. It is the fifth largest credit union in Michigan, with over 210,000 members and assets of 2.6 billion as of October 31, 2018. The credit union has 28 branch locations in Michigan, 3 in Minnesota, and 1 in Pennsylvania, and belongs to the CO-OP Network, which provides its members with access to over 30,000 surcharge-free ATMs and 5,000 Shared Branch locations.
Genisys Credit Union is a not-for-profit, member-owned financial institution that has been in operation since 1936. Each credit union member has equal ownership regardless of the amount of money they have on deposit. Credit unions differ from banks in that they do not issue stock or pay dividends to outside stockholders. Instead, earnings are returned to members in the form of lower loan rates, higher interest on deposits, lower fees, and enhanced services.
Membership in Genisys Credit Union is open to people who live, work, attend school, or own a business in specific areas, including all 68 counties in the lower peninsula of Michigan, and several counties in Minnesota and Pennsylvania. Membership is also open to immediate family members of a Genisys Credit Union member and employees of affiliated select employee groups.
Genisys Credit Union is federally insured by the National Credit Union Administration (NCUA) through the National Credit Union Share Insurance Fund (NCUSIF), which is backed by the full faith and credit of the United States Government. Member deposits are insured up to at least $250,000 per account. The credit union consistently receives the highest ratings for safety and soundness and is committed to providing its members with convenience and quality service.
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Frequently asked questions
Yes, Genisys Credit Union is a federally insured state-chartered credit union, regulated by the National Credit Union Administration (NCUA). Genisys is also one of the strongest financial institutions in the country, with a net worth of nearly two times what the National Credit Union Administration considers well capitalized.
Genisys Credit Union member deposits are insured up to at least $250,000 per account.
Not one penny of insured savings has ever been lost by a member of a federally insured credit union.
Credit unions exist to help people, not to maximize profits. Genisys Credit Union's goal is to serve all of its members, including those of modest means.
