| Lake Trust | |
| Type: | Credit union |
| Industry: | Financial services |
| Predecessors: | --> |
| Successors: | --> |
| Founded: | 1944 |
| Founders: | --> |
| Hq Location City: | Brighton, Michigan |
| Hq Location Country: | United States |
| Num Locations: | 22 |
| Num Locations Year: | 2024 |
| Areas Served: | --> |
| Key People: | David Snodgrass, President and Chief Executive Officer |
| Products: | Savings |
| Profit: | --> |
| Profit Year: | --> |
| Assets: | $2.6+ billion USD |
| Assets Year: | 2023[1] |
| Owners: | --> |
| Members: | 180,000 |
| Members Year: | 2023[2] |
| Num Employees: | 500 |
| Num Employees Year: | 2023[3] |
| Slogans: | --> |
Lake Trust Credit Union is a community-based credit union headquartered in Brighton, Michigan. As a not-for-profit financial cooperative, Lake Trust is owned by members of the credit union and regulated under the authority of the National Credit Union Administration (NCUA). The organization is governed and supervised by an 18-member board of directors.
As of September 2023, Lake Trust has branches in more than 20 cities, towns, and villages throughout Michigan, serving nearly 200,000 individual and business members. With more than $2.5 billion in assets, it ranks in the top 1% of credit unions nationwide.
According to their website, the Lake Trust vision is “A world in which everyone thrives.” The credit union strives towards this vision by supporting the financial wellbeing of its members, team members, and communities. To Lake Trust, supporting wellbeing means partnering closely to understand members’ goals, dreams, and aspirations – and working together to discover solutions and opportunities to achieve a brighter future.
Lake Trust has been honored with awards for outstanding workplace culture and dedication to small businesses in Michigan. In 2022, Lake Trust was awarded the Corporate Social Impact Award as part of the Governor’s Services Awards, led by Michigan Governor Gretchen Whitmer.[4]
According to the Lake Trust website, membership at Lake Trust is open to anyone who lives, works, attends school, or worships in the state of Michigan.
There are other ways to be eligible for membership:
The Lake Trust Financial Life Planning (FLP) team offers a variety of services to members including investment and insurance options to help members create a personalized money management plan and work toward their financial goals for the future.
Established in 2012, the Lake Trust Foundation is a 501(c)(3) organization with the mission to link people and organizations together to create strong, diverse, vibrant communities by engaging in strategic community partnerships, outreach programs, and philanthropy. The Lake Trust Foundation focuses on supporting economic empowerment, health, and education.
Since 2012, the Lake Trust Foundation has worked with community partners to give more than $690,000 in grants, award over $1.8 million in scholarships, and donate over 616,000 meals and financially support food insecurity initiatives across Michigan.
Lake Trust Credit Union strives to support members and communities in their journey toward wellbeing. Lake Trust understands that harnessing the power in all of us is key to building stronger communities and helping Michiganders reach their goals.