Genisys Credit Union Review: Low APRs and More Perks

Learn about Genisys Credit Union loans and other services.

If you need a loan, a checking or savings account, retirement account or are in search of insurance, Genisys Credit Union has viable options for you. Ranked as one of the healthiest credit unions in the country for three consecutive years by DepositAccounts, Genisys Credit Union locations include branches in Michigan and select counties in Minnesota and Pennsylvania.

Read on to get help deciding if Genisys Credit Union is the best credit union option for you.

Genisys Credit Union Bank Accounts

Genisys offers both savings and checking account options to fit people with different needs. Here’s an overview of financial products offered by Genisys Credit Union:

Savings Accounts

Genisys customers can open savings accounts for as little as $5. Genisys offers “You Name It” savings accounts that allow customers to make up to six withdrawals a month. It also offers holiday savings accounts, so you don’t need to break the piggy bank for seasonal shopping.

Checking Accounts

Genisys offers several different tiers of checking accounts. Its free, no-fee checking account offers benefits such as a free Genisys Rewards Debit Mastercard, mobile deposits, Genisys Credit Union online banking, unlimited ATM access at nearly 30,000 CO-OP locations and overdraft protection.

With a few simple qualifications, you might be eligible for a Genius High Yield checking account. With the Genius account, you earn 3.03% APY and Double Play Rewards, earning you purchase points. To qualify, you need to open or upgrade to a Genius account, enroll in eStatements, begin using a Genisys Debit Mastercard and make 10 transactions worth $5 or more with your debit card each month.

Student Checking

College students who opt for a checking account with Genisys Credit Union will reap rewards such as no monthly fees or minimum balance, six free ATM transactions per month at non-Genisys ATMs and more. Sign up for a College Rewards Money Market account to earn high-yield dividends. All you need to gain this perk is a minimum balance of $100 and to sign up for eStatements.

Find Out: What Is a Credit Union

Genisys Credit Union Loans

If you’re looking for a loan, Genisys Credit Union has options:

Auto, Boat, Leisure and RV Loans

Genisys Credit Union offers auto loans with APRs as low as 2.49 percent for model years 2013 and newer. For older cars, the rates rise but remain as low as 4.74% APR for vehicles with model years of 2009 or older. Finance your boats and other recreational vehicles with affordable loans with rates ranging as low as 3.24% to 4.99% APR.

Home Equity and Mortgage Loans

Maybe you need to make renovations or have an emergency home repair — Genisys Credit Union loans have options such as home equity loans and home equity line of credit (HELOC). Choose from fixed home equity rates ranging from 3.75% to 5% APR. If you want the assurance of cash on an as-needed basis, for emergencies or unexpected expenses, consider choosing one of Genisys’ HELOC options with rates ranging from 4.5% to 9.5% APR.

Choosing the right loan for a mortgage is complicated, but Genisys provides free online resources for loan options to become an informed buyer, as well as a free mortgage preapproval application. Rates vary based on whether the loan is within or outside of Michigan.

Credit Cards and Debt Consolidation

Genisys’ credit card offers variable rates for as little as 11.74% APR, has no annual fee and a 28-day interest-free grace period. If you qualify for Genisys’ Platinum Credit Mastercard, you’ll enjoy a rate as low as 9.9% APR.

To get out of debt more quickly or efficiently, Genisys Credit Union offers debt consolidation loans. This functions especially well for high-interest loans such as pesky credit card debt.

College graduates looking to consolidate their debt can take advantage of Student Choice Refinance Loans. Eligible for up to $100,000, graduates are required to be U.S. citizens or permanent residents, repaying one or more of their private or federal loans and able to pass a credit check. They must also have a credit union membership.

Investing with Genisys

Whether you’re a newbie investor or seasoned, Genisys has options for diverse customers. Choose from a traditional IRA, Roth IRA or a Coverdell Education Savings Account, which is a federally sponsored savings option in which you can put up to $2,000 per year for your child’s education.

IRAs with Genisys Credit Union allow you to transfer as little as $500 at a time into Genisys Credit Union certification to earn even higher rates.

Read: Advantages and Disadvantages of Credit Unions

Home, Auto and Life Insurance

Home and car owners in Michigan and select locations in Minnesota and Pennsylvania can apply for TruStage Insurance through Genisys Credit Union. TruStage also offers life and other insurance exclusively with Genisys.

Perks for Genisys Customers

Being a member of Genisys Credit Union earns customers benefits, including:

  • AMC Theatre Tickets
  • Amusement Park Tickets
  • Enterprise Car Sales
  • FamilyMint
  • Home & Auto Insurance
  • Love My Credit Union Rewards
  • Mastercard Marketplace
  • Mastercard Masterpass
  • Renaissance Festival Tickets
  • Sprint Cell Phone Service
  • TurboTax Discount

Members of Genisys also receive the following services:

  • GreenPath Money Management
  • Budget Smart
  • Directo a Mexico
  • Free Credit Report
  • Gift Cards
  • Cyber Scout – Identity Theft 911
  • NADAguides

Understand: What’s the Difference Between a Credit Union and a Federal Credit Union

Visit a Genisys Credit Union

Typical Genisys Credit Union hours are 9 a.m. to 5:30 p.m. Check with your local branch for exact times, and you can enjoy online access 24/7.

Remember that Genisys Credit Union only has branches in Michigan, Minnesota and Pennsylvania. If you’re curious about finding a Genisys Credit Union near you, check out the website for branch listings.

To decide if Genisys Credit Union is right for you, you’ll want to weigh the pros and cons of the credit union services you’ll be using.

Up Next: How Do Credit Unions Make Money

*Rates are accurate as of April 26, 2018, and are subject to change.

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