Genisys Credit Union in Auburn Hills and Unified Communities Federal Credit Union (UCFCU) in Belleville have announced plans for a 2022 merger. If approved, combined assets will total almost $4 billion.
The combined credit union will continue to operate under the Genisys name. Unified was formed in 1949 to serve General Motors employees at the Willow Run plant in Ypsilanti before transitioning to a community charter. Genisys also started for the same purpose, serving GM employees from the Truck and Coach plant in Pontiac, and the Tank/Metal Fab Plant in Grand Blanc.
“The timing is right for this merger,” says Mary Carnarvon-LaHousse, president and CEO of UCFCU. “Unified Communities has been successful and will be even more so as a result of the merger. We selected Genisys as a merger partner not only because of their strong financial condition and commitment to meeting the ever-changing needs of members but also for the strong commitment and support they give to their local communities.”
UCFCU will benefit from expanded access to branches, more powerful online and mobile banking technology — which includes remote deposit and card controls — a full-service call center, debit rewards, financial guidance, and services through Genisys Investment Services.
The UCFCU branch will remain open and its employees will join the new Genisys Credit Union team. All employees will continue to receive competitive compensation and benefits.
If the merger is approved, the combined credit union will have 33 branches serving more than 246,000 members. The merger has unanimous support from both credit unions’ boards of directors.
“We are excited to have the opportunity to consolidate such a strong, member-focused credit union into Genisys,” says Jackie Buchanan, president, and CEO of Genisys. “We look forward to expanding the benefits available to our new members from Unified Communities. This merger is exciting and will be successful because of our shared value and the commitment both credit unions have to our members, employees, and communities.”