Addressing the housing crisis, Genisys Credit Union secures $1.5 million from the Federal Home Loan Bank of Indianapolis for the development of 138 affordable housing units

Auburn Hills, MI. - March 03, 2026 - As the affordable housing crisis grows in Michigan, Genisys Credit Union secured $1.5 million in grant funding from the Federal Home Loan Bank of Indianapolis (FHLBI) to support the development of 138 affordable housing units with Lighthouse MI and Community Housing Network (CHN).

“Whether people are renting or buying, Michigan residents are struggling to afford their homes. The rising cost of housing, coupled with increased prices on groceries, utilities, healthcare, and childcare, many people are being pushed to the brink of their budgets,” said Jackie Buchanan, President and CEO of Genisys Credit Union. “When you have a place to call home, it gives you a stable foundation for a future. Genisys is dedicated to ensuring that opportunity remains within reach for all of our neighbors. By securing these grants, we support community partners who are driving forward affordable housing efforts amid this growing crisis.”

Since 2025, Genisys has secured $3.2 million in funding through FHLBI’s Affordable Housing Program (AHP), sponsoring the development of 229 affordable housing units across Michigan. These projects are made possible through partnerships with Lighthouse MI and CHN, nonprofits dedicated to providing housing assistance, hunger solutions, and support services necessary to help Michigan residents thrive.

On average since 2020, housing costs have risen 56% according to the National Association of Realtors, making the path to homeownership out of reach for many working families and individuals. The grants will support projects for:

• Lighthouse MI’s Lighting the Way Campaign - $1,000,000 awarded

Lighthouse MI will construct a 98 unit homeless shelter as part of their campus redevelopment project at their Pontiac Headquarters. This is the third grant Genisys has secured for Lighthouse MI, totaling $2.7 million and developing 192 new affordable housing units at three different developments in Pontiac

"Genisys Credit Union has been an incredible partner in Lighthouse's mission to bring stable, affordable housing and emergency shelter to our community," said Ryan Hertz, CEO of Lighthouse. "Through their help securing previous Federal Home Loan Bank of Indianapolis (FHLBI) grants, we've been able to develop 94 units of affordable housing in Pontiac. The current grant will support our shelter expansion project, helping families emerging from crisis situations. We are grateful to Genisys for their continued dedication to ensuring every person in our community has a safe place to call home." 

• CHN’s Lincoln Avenue Loft Project  - $500,000 awarded

CHN will develop a 40 unit affordable housing project in Port Huron called Lincoln Avenue Lofts, with 20 units being reserved as permanent housing for residents moving out of homelessness. Primarily serving Southeast Michigan (Oakland and Macomb counties), CHN has expanded statewide as housing costs spike in Michigan’s rural communities. This is their first housing project in Port Huron

“As our first housing development in Port Huron, Lincoln Avenue Lofts shows what’s possible when community partners come together. We are grateful to Genisys Credit Union for helping bring affordable, stable housing to this community and for their commitment to a stronger, more inclusive future for all,” said Kirsten Elliott, President & CEO of Community Housing Network.

By bridging the gap between available housing and community needs, Genisys Credit Union is investing in the long-term stability of Michigan’s housing environment. The 138 new affordable housing units stand as a testament to the power of community partnerships, ensuring Michigan remains a place where every resident has the opportunity to build a future.

About Genisys Credit Union: 

Genisys Credit Union is a not-for-profit, member-owned financial institution that has been committed to helping its members financially since 1936. Based out of Auburn Hills, MI, the credit union is the fourth largest in Michigan with over 295,000 members and 32 branch locations. With a highly competitive suite of products such as High Yield Genius Checking and Youth Savings Account as well as loans for small to mid-sized businesses, Genisys specializes in providing consumer and business financial solutions through its branches, a multi-channel contact center, and a variety of mobile and online banking services. Genisys has consistently received the highest 5-star Bauer Financial Rating for safety and soundness along with receiving recognition from S&P Global Market Intelligence as a nationwide Top 10 Performing Credit Union. They are also proud to be committed to their communities by annually volunteering over 7,000 hours and partnering on over 1,600 community events. Connect with Genisys on Facebook, X, Instagram, and TikTok by following @genisyscu. For more information visit www.genisyscu.org