Question 1

What is Lake Trust Credit Union?

Accepted Answer

Lake Trust Credit Union is a prominent, member-owned financial cooperative serving communities throughout Michigan. As one of the state's largest credit unions, it provides comprehensive banking services to nearly 200,000 members across the Lower Peninsula. Headquartered in Brighton, Michigan, the credit union is committed to empowering individuals and businesses through personalized financial solutions and community-focused initiatives.

Question 2

When was Lake Trust Credit Union founded?

Accepted Answer

The origins of Lake Trust Credit Union trace back to 1944 when the Detroit Edison Credit Union was first chartered. The current iteration of Lake Trust was established on April 1, 2010, through a merger between Detroit Edison Credit Union and NuUnion Credit Union. This merger brought together a rich history of serving employees from various sectors, including energy, education, and public service.

Question 3

Where is Lake Trust Credit Union headquartered?

Accepted Answer

Lake Trust Credit Union is headquartered at 4605 S Old US Highway 23 in Brighton, Michigan. In September 2015, the credit union moved into a new $30 million, 100,000-square-foot headquarters designed to foster collaboration and innovation. The modern facility reflects the credit union's commitment to creating an efficient and dynamic work environment.

Question 4

Where does Lake Trust Credit Union operate?

Accepted Answer

Lake Trust Credit Union operates primarily throughout Michigan, with branches in more than 20 cities, towns, and villages across the Lower Peninsula. Membership is open to individuals who live, work, attend school, or worship in Michigan, as well as retirees of Michigan-based organizations and family members of existing members.

Question 5

What services does Lake Trust Credit Union offer?

Accepted Answer

The credit union provides a comprehensive range of financial services, including:
• Personal banking solutions (checking and savings accounts)
• Personal and business loans
• Mortgage and refinancing options
• Small business microloans
• Investment and insurance services
• Online and mobile banking platforms
• Financial planning and advisory services

Lake Trust also offers unique features like the Financial Life Planning (FLP) team, which provides personalized financial guidance to members.

Question 6

What makes Lake Trust Credit Union unique?

Accepted Answer

Lake Trust stands out through its:
• Community-driven mission focused on financial wellbeing
• Certification as Michigan's largest Community Development Financial Institution (CDFI)
• Lake Trust Foundation, which supports local nonprofits in economic empowerment, health, and education
• Commitment to inclusivity and member empowerment
• Extensive ATM network with access to over 30,000 ATMs nationwide

Question 7

What type of financial institution is Lake Trust Credit Union?

Accepted Answer

Lake Trust is a federally regulated federal credit union governed by the National Credit Union Administration (NCUA). As a not-for-profit financial cooperative, it is owned by its members and overseen by an 18-member board of directors. The credit union operates on cooperative principles, prioritizing member benefits over profit.

Question 8

Community Involvement

Accepted Answer

The credit union is deeply committed to community impact, with team members dedicating 5,862 volunteer hours in 2023 and the Lake Trust Foundation actively supporting local Michigan nonprofits.

Question 9

Financial Strength

Accepted Answer

With over $2.7 billion in total assets, Lake Trust ranks in the top 1% of credit unions nationwide and is the fourth-largest credit union in Michigan by asset size.

Lake Trust Credit Union

in the United States 🇺🇸

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About Lake Trust Credit Union in the United States