Dec, 31, 2023 — GENISYS CREDIT UNION is a federally insured state chartered credit union headquartered in AUBURN HILLS, MI with 34 branch locations and about $4.85 billion in total assets. Opened 60 years ago in 1964, GENISYS CREDIT UNION has about 272,934 members and employs 526 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | GENISYS CREDIT UNION |
|---|---|
| Address: (Main Office) | 2100 Executive Hills Dr AUBURN HILLS, MI 48326-2947 |
| Phone: | (248) 322-9800 |
| Fax: | (248) 333-7911 |
| Website: | https://www.genisyscu.org |
| Branches: | 34 branch locations |
| Members: | 272,934 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68536 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1964 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $4,850,538,409 |
| CEO/Manager: | Jacqueline Buchanan |
| Chairperson: | Kim Turner |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 245,980,034 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 715,916 |
| Real Estate Loans | 1,536,546,670 |
| Unsecured Loans | 573,347,162 |
| Other Loans | 1,497,857,411 |
| TOTAL LOANS | 3,607,894,279 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -51,646,325 |
| Land And Building | 55,494,905 |
| Other Fixed Assets | 2,072,822 |
| NCUSIF Deposit | 36,120,391 |
| All Other Assets | 3,993,092 |
| TOTAL ASSETS | 4,850,538,409 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 8,040,869 |
| Notes & Interest Payable | 135,000,000 |
| Accounts Payable & Other Liabilities | 49,417,423 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 810,531,315 |
| Regular shares | 920,381,863 |
| All Other Shares & Deposits | 2,252,832,482 |
| TOTAL SHARES & DEPOSITS | 3,983,745,658 |
| TOTAL LIABILITIES | 4,178,385,178 |
| Regular Reserve | 0 |
| Other Reserves | -100,063,280 |
| Undivided Earnings | 772,216,511 |
| TOTAL EQUITY | 672,153,231 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 4,850,538,409 |
| INCOME & EXPENSE | |
| Loan Income | 172,086,170 |
| Investment Income | 20,384,909 |
| Other Income | 21,168,039 |
| Total Employee Compensation & Benefits | 42,702,670 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 44,357,498 |
| Non-operating Income & (Expense) | 131,164 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 17,872,275 |
| Cost of Funds | 68,636,360 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 81,571,341 |
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