Genisys named Outstanding Credit Union of the Year

Genisys Credit Union was named the 2012 Outstanding Credit Union of the Year by the Michigan Credit Union League for achievements in several categories including financial strength and performance, new and improved services to members, new activities or programs, financial literacy efforts, community involvement, community service and legislative advocacy.

"It's an honor to receive an award of this distinction," said Jackie Buchanan, CEO. "Our core values of being trustworthy, focusing on our members and providing quality service are truly reflected in this recognition."

Genisys had outstanding financial strength and performance in 2011, and once again received BauerFinancial's five-star rating for financial safety and soundness. Active membership grew by 5.43%, and new members joining in 2011 increased 20.7% over 2010. The Member Satisfaction Rating was 96.2%, confirming that members are extremely happy with the service provided. The 2011 Employee Satisfaction Survey came in at 96% satisfied.

Based out of Auburn Hills, Genisys has more than $1.4 billion in assets and is focused on providing its 130,000 members with convenience and quality service through 24 branch locations, more than 4,600 shared branches and over 28,000 surcharge-free ATMs.

In addition to Genisys' physical locations, Genisys also provides members with 24/7 access to their accounts through an extensive list of free electronic conveniences including Online Banking, Online Deposit, Mobile/Text Banking, Online Bill Payment and a Debit MasterCard® Rewards program redeemable for travel, merchandise, gift cards and more.

Genisys just launched its new iPhone app with Mobile Check Deposit, making it the first credit union in Michigan capable of depositing a check by phone. The new Online Banking system is also scheduled to launch later this year, which will provide members with enhanced features and a user-friendly design. Development for a new Android app is in the works and is scheduled to launch during the fourth quarter of this year.

Many additional services were recently enhanced and implemented to make it more convenient for members to access their accounts. Members can now make loan payments online or by phone using their debit or credit card, Red Flag Alerts now electronically alert members when personal information is changed on their account, tax forms were converted to secure email delivery, and Online Deposit was enhanced to include increased functionality. Genisys unveiled partnerships with Members e-Health and mycreditunioncar.com to provide affordable health insurance options and a shopping service for quality used vehicles. It also enhanced the Genisys Investment Services website to provide more investment information and products to its members.

"Our goal is to provide members with products and services that make their lives easier," said Jackie Buchanan, CEO. "Being able to manage their Genisys accounts from a mobile phone or a home computer helps them save both time and money."

Other new activities included implementing a new loan approval process to assist loan officers and loan interviewers in taking a closer look at a member's qualifications to evaluate and help members with lower credit scores.

For local businesses, Genisys now offers comprehensive business solutions including full lending services for small to mid-size businesses in Michigan. Benefits such as employee investment services, group benefits, human resource management, insurance programs, merchant processing, payroll administration, prepaid legal services, retirement plans and risk management are also available to businesses and their employees.

Genisys partners with several organizations including AMC Theatre, Cedar Point, Cleary University, Costco, Detroit Red Wings, FamilyMint, Liberty Mutual, Palace Sports & Entertainment, Sam's Club, Sprint and Turbo Tax, which allow it to provide discounts and free programs to its members to help families save money.

Financial literacy is extremely important at Genisys. Genisys was the first credit union to take financial responsibility to a new level by partnering with FamilyMint, a free hands-on budgeting tool that provides parents and grandparents with an interactive online resource to teach children about financial literacy and the importance of saving.

They also promote financial literacy in the classroom by teaching money management programs in hopes of reaching students at an early age so they can grow up to become responsible adults. In 2011, 76 presentations were given and more than 2,000 youth were educated through the Genisys In-School Financial Awareness program.

As Genisys Moola Moola, Y&I and Teen Advantage Club youth members get closer to graduation, they can look into applying for a student loan through Genisys to help with the financial burden of college once their other resources have been exhausted.

Genisys has also formed a strategic business alliance with Cleary University to offer tuition discounts specifically designated for the members and employees of the credit union. Two scholarships are also available for Cleary University and Baker College degree-seeking students who serve their communities as leaders and volunteers.

Making a difference in the community is also a top priority. Last year, around 310 community events were sponsored by providing monetary donations, gifts-in-kind and more than 4,000 hours of hands-on volunteer support.

The organization's corporate initiatives include the Holiday Extravaganza Parade presented by the communities of Auburn Hills, Pontiac, Waterford and White Lake, United Way of Southeast Michigan and Oakland Livingston Human Service Agency's (OLHSA) Walk for Warmth.

Genisys raised nearly $30,000 to help heat the homes of families in need at the walk and donated more than $58,000 through its United Way campaign.

This year, Genisys was also able to provide $10,000 in donations through its Employee Casual Fund to Lighthouse of Oakland County's Hunger Walk, American Cancer Society's Relay for Life, Arthritis Foundation's Detroit Zoo Walk and American Heart Association's Heart Walk.

"We're proud to be able to support the communities we are a part of by providing added value at events," said Buchanan. "By pooling resources and working together, we can make a difference in the community and in the lives of our members."

Published: Tue, Sep 18, 2012