Genisys Credit Union awarded Best of Bauer Status
AUBURN HILLS, MI (October 13, 2015) — Genisys Credit Union, which provides services to anyone who lives or works in the Lower Peninsula of Michigan, was awarded the Best of Bauer status for having earned Bauer Financials 5-Star rating for twenty-five years, which represents 100 consecutive quarters. Fewer than 4% of the nation’s credit unions have earned Bauer’s top rating for twenty-five straight years.
Bauer Financial is the leading independent bank and credit union rating firm. The research company conducts an analysis every quarter for all of the nation’s financial institutions. Credit unions that have received a five-star rating are deemed safe and financially sound.
“It’s an honor to have earned this prestigious distinction from Bauer Financial,” said Jackie Buchanan, President and CEO. “We are proud to have our sustained sound financial condition recognized in this way.”
In addition to the Best of Bauer Award, DepositAccounts.com ranked Genisys Credit Union as one of the healthiest credit unions in America. This designation recognizes credit unions that have shown exceptional fiduciary responsibility. Genisys Credit Union ranked 87th out of the 6,655 federally insured credit unions in the United States. Each institution was graded on a number of factors – including capitalization, deposit growth, and loan to reserve ratios – in order to determine a comprehensive health score.
Genisys Credit Union also ranked as one of the top 100 credit unions in the nation for safety and soundness by Bankrate.com. The Safe & Sound® ranking system provides consumers rating information on the relative financial strength and stability of U.S. commercial banks, savings institutions and credit unions. The system applies more than twenty different tests to measure each institution: asset quality, asset sufficiency, profitability, and the institution’s ability to pay off debts and then compares the information with industry peer norms and standards. Through this system, Bankrate.com awarded Genisys with a composite five-star rating that is indicative of a superior financial condition.
About Genisys Credit Union
Genisys Credit Union 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, MI, the credit union is the fourth largest in Michigan with over 255,000 members and 33 branch locations. With a highly competitive suite of products such as High Yield Genius Checking and Youth Savings Account as well as loans for small to mid-sized businesses, Genisys specializes in providing consumer and business financial solutions through its branches, a multi-channel contact center, and a variety of mobile and online banking services. Genisys has consistently received the highest 5-star Bauer Financial Rating for safety and soundness along with receiving recognition from S&P Global Market Intelligence as a nationwide Top 10 Performing Credit Union. They are also proud to be committed to their communities by annually volunteering over 4,400 hours and partnering on over 1,000 community events. Connect with Genisys on Facebook, Twitter, Instagram, and TikTok by following @genisyscu. For more information visit www.genisyscu.org