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 an 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, Genisys 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.
Published: Tue, Oct 20, 2015
