Sep, 30, 2025 — LAKE TRUST CREDIT UNION is a federally insured state chartered credit union headquartered in BRIGHTON, MI with 25 branch locations and about $2.71 billion in total assets. Opened 82 years ago in 1944, LAKE TRUST CREDIT UNION has about 177,907 members and employs 490 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | LAKE TRUST CREDIT UNION |
|---|---|
| Address: (Main Office) | 4605 S Old US Highway 23 BRIGHTON, MI 48114-7521 |
| Phone: | (888) 267-7200 |
| Fax: | |
| Website: | https://www.laketrust.org |
| Branches: | 25 branch locations |
| Members: | 177,907 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 62047 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1944 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $2,706,100,337 |
| CEO/Manager: | David A Snodgrass |
| Chairperson: | Michael Solo |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 149,763,918 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 1,292,135,141 |
| Unsecured Loans | 133,076,374 |
| Other Loans | 690,184,466 |
| TOTAL LOANS | 2,115,650,021 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -23,852,104 |
| Land And Building | 53,664,713 |
| Other Fixed Assets | 14,009,771 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 18,967,967 |
| All Other Assets | 0 |
| TOTAL ASSETS | 2,706,100,337 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,051,661 |
| Notes & Interest Payable | 23,076,137 |
| Accounts Payable & Other Liabilities | 14,127,094 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 23,047,000 |
| Share Drafts | 531,129,098 |
| Regular shares | 731,346,646 |
| All Other Shares & Deposits | 1,122,533,059 |
| TOTAL SHARES & DEPOSITS | 2,385,008,803 |
| TOTAL LIABILITIES | 2,446,506,530 |
| Regular Reserve | 0 |
| Other Reserves | 53,297,362 |
| Undivided Earnings | 206,296,445 |
| TOTAL EQUITY | 259,593,807 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 2,706,100,337 |
| INCOME & EXPENSE | |
| Loan Income | 86,670,466 |
| Investment Income | 9,057,235 |
| Other Income | 7,120,132 |
| Total Employee Compensation & Benefits | 37,331,571 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 32,815,230 |
| Non-operating Income & (Expense) | -5,908 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 10,810,226 |
| Cost of Funds | 24,483,877 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 12,122,061 |
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