Genisys Credit Union hit a pair of milestones in March, reaching $1.5 billion in loan balances and 200,000 members, the Auburn Hills, Mich.-based credit union announced today.
Genisys' net income for 2017 was more than $40 million. The financial cooperative's lending boost was led by more than 36,000 used vehicle loans totaling $423 million and almost 3,000 family residential loans totaling almost $400 million.
Genisys President and CEO Jackie Buchanan attributed the credit union’s success to its range of products and services.
The credit union’s Genius High Yield checking account allows members to earn 3.03 percent annual percentage yield on their accounts and earn one reward point for every $2 spent using a debit card. Genisys members can also get mortgages, auto loans and personal loans through online applications. The credit union is also involved in business lending with offerings in lines of credit, real estate, SBA and term loans.
In 2017, the credit union sponsored nearly 900 events with employees, family and friends volunteering more than 4,000 community service hours.
“We are pleased to hit these milestones as they provide further validation that we are providing the financial services our members want and need,” Buchanan said in a press release. “These achievements are the result of the drive and dedication that our entire team has to be the best financial institution in the communities we serve. We look forward to continuing to serve our members and those who haven’t yet discovered the benefits of Genisys Credit Union membership.”