Genisys Credit Union is headquartered in Auburn Hills and is the 4th largest credit union in the state of Michigan. It is also the 86th largest credit union in the nation. It was established in 1964 and as of June of 2023, it had grown to 477 employees and 265,738 members at 30 locations. Genisys Credit Union's money market rates are 7X the national average, and it boasts an A+ health rating.
Field of Membership Restrictions
Membership in Genisys Credit Union is open to those who live, work, worship, or attend school anywhere in the state of Michigan, the Minnesota counties of Anoka, Dakota, Hennepin, Ramsey, Scott, or Washington, or Montgomery County, Pennsylvania. Immediate family and household members of current Genisys Credit Union members are also eligible to join. If you live outside of the location eligibility or do not qualify based on family eligibility, you can still join by making a contribution to either the Arthritis Foundation or the Paint Creek Center for the Arts.
See current membership details
Related Posts
4/24 - Genisys Credit Union Has 14-Month Flex CD (Add-On, Rate Bump, No Penalty Withdrawal)
2/3 - Genisys Credit Union 30-Month CD Special Has Rate-Leading APY
4/12 - Genisys Credit Union Brings Back Competitive 25-Month CD Special
1/27 - Genisys Credit Union Ups Limited-Time 30-Month CD Special Rate
Great Account
I have had an account with Genisys FCU for the past 14 months and have had no problems. Their rates are excellent and their Genius High Yield Checking account is very hard to beat. I would highly recommend.
Fair checking
Genisys is a local credit union and not beholden to the corporate bureaucracy of some of the larger banks. They always seem to have a smile on their faces and are much more likely to have a relationship with their clients. They are local and support our local economy and best of all aren't beholden to some giant firm led by greedy criminals. They have never charged me an undeserved fee and they don't seem to gouge.
No Online CD Applications Accepted For Retirees
I attempted to open a CD using Genisys’ online application process (designed to accept new members) and everything was moving along smoothly until I got to the employer information screen. It would not proceed without employer information, which of course does not exist for a retiree. Thus, I received a notice that manual review would be necessary. As promised, on the first business day following my (failed) application, I received the following email message:
“Thank you for your interest in Genisys Credit Union. Unfortunately, we are unable to continue your membership application online. To complete the membership process we will need the following:
1) Completed Membership Application- link below (a PDF file)
2) If requesting eStatements, please complete the consent form- link below
3) Copy of driver's license or other government issued ID
4) Send check for $10 payable to Genisys Credit Union ($5 to establish your account, this will be held in the S1 savings account and $5 for donation to PCCA - (Paint Creek Center for the Arts)
Please mail all of the above documentation to the address below:
Genisys Credit Union (etc)
Based on the Post Office’s delivery standards (five days for out of state mail)
I am not interested in dropping off this data and hoping for the best. I need a financial institution with a more robust online capability.
Horrible.
I really wish I would have dug a little deeper before shackling myself to this institution. I guess that is on me, but please listen to the rest of us and stay far away. I refinanced my vehicle through them approximately a year ago because they had a better rate and lower payment options than some of the other banks and credit unions I was offered (suggested to me by a third party website). The process of refinancing was not horrible but it was not great either and this should have been my first sign of trouble. Right away, I started having trouble. Not only did I receive no follow up after the refinance as to how to pay on my account (causing my initial payment to be late) but then the online system is next to impossible to use. There is a weird money transfer system just to make a monthly payment and good luck trying to skip a payment if you need to. They require a "donation" to use your allotted once a year skips and the only way to "donate" said money is to deposit money into the checking account that automatically gets opened up for you when you get a loan through them. Except, guess what, can't really do this if you aren't local. Only a wire transfer will do. A wire transfer - for $25. Ridiculous. At one point, somehow my autopayment did not go through (don't even get me started on how much of a pain it is to set up autopay) so this made me late on the account. I was unaware of this however because despite them apparently calling me, no one ever left a message so I had no idea it was them and that there was a problem. Until, that is, they DOUBLE CHARGED my next payment. So instead of $400 coming out of my bank account, nearly $800 came out. Without them telling me. Which essentially made it very difficult for me to pay my bills that month. Also, I get that they're a bank and they need to be secure, but the amount of security you have to go through just to change your password on the online account is ridiculous. I have never experience such low quality online systems and backwards customer service. Can't wait to refinance again and get out of here.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 68536 |
| Year Chartered | 1964 |
| Employees | 477 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.87% |
| Return on Equity - YTD | 14.06% |
| Annual Interest Income | $88.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $4.64B$4.26B |
| Loans | Q2 2023vs Q2 2022 | $3.47B$2.99B |
| Deposits | Q2 2023vs Q2 2022 | $3.85B$3.61B |
| Equity Capital | Q2 2023vs Q2 2022 | $612.6MM$564.7MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $0$35.5MM |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $19.3MM$7.1MM |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |
