Amid Michigan's growing affordable housing crisis, Genisys Credit Union in Auburn Hills has secured $1.5 million in grant funding from the Federal Home Loan Bank of Indianapolis (FHLBI) to help develop 138 affordable housing units with Lighthouse MI and Community Housing Network.
"Whether people are renting or buying, Michigan residents are struggling to afford their homes," Jackie Buchanan, president/CEO of Genisys, said. "The rising cost of housing, coupled with increased prices on groceries, utilities, health care and childcare, many people are being pushed to the brink of their budgets. 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, supporting the development of 229 affordable housing units across Michigan. These projects are carried out in partnership with Lighthouse MI and Community Housing Network (CHN), nonprofits that provide housing assistance, hunger relief and other support services to help Michigan residents.
According to the National Association of Realtors, housing costs have risen an average of 56% since 2020, putting homeownership out of reach for many working families and individuals. The grants will support projects from Lighthouse MI and CHN.
Lighthouse MI's Lighting the Way Campaign received $1 million to construct a 98-unit homeless shelter as part of its campus redevelopment at its Pontiac headquarters. This marked the third grant Genisys has secured for Lighthouse MI, totaling $2.7 million and supporting 192 new affordable housing units across three 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," Ryan Hertz, CEO of Lighthouse, said. "Through their help securing previous Federal Home Loan Bank of Indianapolis 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 will use its $500,000 grant to develop a 40-unit affordable housing project in Port Huron called Lincoln Avenue Lofts, with 20 units reserved as permanent housing for residents moving out of homelessness. While primarily serving Southeast Michigan, including Oakland and Macomb counties, CHN has expanded statewide as housing costs rise in rural communities. This is the nonprofit's 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," Kirsten Elliott, president/CEO of CHN, said.
Joyce Moed can be reached at joyce.moed@arc-network.com.
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