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 of Michigan and the 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 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 of Michigan’s Lighting the Way Campaign - $1,000,000 awarded; Lighthouse 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, totaling $2.7 million and developing 192 new affordable housing units at three different developments in Pontiac
• 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 nine 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.

« Return to "Genisys News"