Genisys Credit Union has been ranked as one of the top 200 healthiest credit unions in the nation by DepositAccounts.com.
For the third consecutive year, Genisys has been recognized for its financial strength compared to America's 5,785 federally insured credit unions. DepositAccounts.com is the largest and most comprehensive online publication in the U.S. dedicated to banking/savings information for consumers.
"We are proud to receive this recognition from DepositAccounts once again," said Jackie Buchanan, Genisys Credit Union president and CEO. "Genisys is committed to maintaining a sound financial foundation for our members in Michigan, Minnesota, and Pennsylvania."
Like banks, deposits in credit unions are federally insured. The National Credit Union Share Insurance Fund protects funds kept in credit union accounts. In addition, credit unions have a separate regulator which requires higher capital reserves than those required of banks.
This ranking from DepositAccounts.com recognizes Credit Unions who have shown exceptional fiduciary responsibility. Each institution is graded on a number of factors including capitalization, deposit growth, and loan to reserve ratios, in order to determine a comprehensive health score.
Published: Wed, Aug 16, 2017
