2023-10-30T12:08:30-05:00 2022-12-31 381357951 PLANTE & MORAN PLLC 2601 CAMBRIDGE CT STE 300 AUBURN HILLS MI 48326 990 2022-01-01 381250516 CREDIT UNIONS CHARTERED IN THE STATE OF 222 LAKE TRUST CREDIT UNION CRED 8882677200 4605 S OLD US HIGHWAY 23 BRIGHTON MI 48114 DAVID SNODGRASS PRESIDENT & CEO 8882677200 2023-10-26 1 DAVID SNODGRASS 999009999 0 TINA PETERS P00904574 2483757100 2023-10-26 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z LAKE TRUST CREDIT UNION DAVID SNODGRASS 4605 S OLD US HIGHWAY 23 BRIGHTON MI 48114 154418395 0 1359 X WWW.LAKETRUST.ORG X 1943 MI MEMBERS WILL UNDERSTAND AND EXPERIENCE THE BENEFITS OF A CREDIT UNION (CONT'D ON SCH. O) RELATIONSHIP AT A COST JUSTIFIED BY THE RESULTS. MEMBERS HAVE THE CAPABILITY TO EXERCISE CONTROL OVER THEIR FINANCIAL LIVES WHILE SHARING IN THE SUCCESS OF THE ORGANIZATION. MEMBERS EXPERIENCE REWARDS OF A MUTUALLY BENEFICIAL RELATIONSHIP BASED ON ADVOCACY AND TRUST RESULTING IN TRUST AND LOYALTY. MEMBERS VALUE THE LINK BETWEEN THEIR BENEFITS AND THEIR OWNERSHIP. 12 12 561 12 330728 0 2576265 625000 91285755 93746217 3059530 6374937 1721971 1257616 98643521 102003770 339944 372684 0 0 37242515 39706349 0 0 0 43235742 49466866 80818201 89545899 17825320 12457871 2506983660 2583730909 2278937548 2383125371 228046112 200605538 X MEMBERS WILL UNDERSTAND AND EXPERIENCE THE BENEFITS OF A CREDIT UNION RELATIONSHIP AT A COST JUSTIFIED BY THE RESULTS. MEMBERS HAVE THE CAPABILITY TO EXERCISE CONTROL OVER THEIR FINANCIAL LIVES WHILE SHARING IN THE SUCCESS OF THE ORGANIZATION. (CONT'D ON SCH. O)MEMBERS EXPERIENCE REWARDS OF A MUTUALLY BENEFICIAL RELATIONSHIP BASED ON ADVOCACY AND TRUST RESULTING IN TRUST AND LOYALTY. MEMBERS VALUE THE LINK BETWEEN THEIR BENEFITS AND THEIR OWNERSHIP. 0 0 PROMOTED THRIFT TO 181,949 MEMBERS BY OFFERING LOANS, DEPOSITS, AND OTHER FINANCIAL PRODUCTS. 0 1 0 0 0 0 0 1 0 1 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 1 54231 0 1 561 1 1 1 0 0 0 0 0 1 0 X 12 12 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X CHRIS MACLEAN 8882677200 4605 S OLD US HIGHWAY 23 BRIGHTON MI 48114 RICK LABER CHAIRPERSON 10.00 0.00 X X 0 0 0 MICHAEL SOLO VICE CHAIRPERSON 4.00 0.00 X X 0 0 0 RAY SEIDL TREASURER 10.00 0.00 X X 0 0 0 KATHRYN RUSAK SECRETARY 5.00 0.00 X X 17709 0 0 JAMES BARNES DIRECTOR 4.00 0.00 X 0 0 0 DENNIS TOCHMAN DIRECTOR 4.00 0.00 X 7404 0 0 JULIE BONNER-HEINE DIRECTOR 4.00 0.00 X 1106 0 0 SHANE LOVELLETTE DIRECTOR 4.00 0.00 X 4419 0 0 AARON SEYBERT DIRECTOR 4.00 0.00 X 4780 0 0 PHILIP SANTER DIRECTOR 4.00 0.00 X 2026 0 0 MONICA MARTINEZ DIRECTOR 4.00 0.00 X 1759 0 0 JAMIE SCHRINER DIRECTOR 4.00 0.00 X 1962 0 0 DAVID SNODGRASS CEO AND PRESIDENT 40.00 0.50 X 1175039 0 326018 KARA STUEWE EVP, CHIEF FINANCIAL OFFICER 40.00 0.00 X 268538 0 33702 ANDREA MOSHER EVP, CHIEF LENDING OFFICER 40.00 0.00 X 239292 0 32054 RAYNOR ZILLGITT SVP, GENERAL COUNSEL EMERITUS 40.00 0.50 X 251149 0 28352 JACK MARTIN SVP, INFO TECH 40.00 0.00 X 247784 0 32450 JAMES SARVER SVP, FINANCIAL LIFE PLANNING 40.00 0.00 X 216826 0 26471 THERESA DUBIEL EVP, CHIEF MEMBER EXPERIENCE OFFICER 40.00 0.50 X 214041 0 17785 BRANDALYNN WINCHESTER-MIDDLEBROOK EVP, CHIEF PEOPLE & PURPOSE OFFICER 40.00 2.00 X 214604 0 18966 2868438 0 515798 49 0 1 0 FISERV 255 FISERV DR BROOKFIELD WI 53045 CORE SYSTEM PROVIDER & DEBIT/ATM/CREDIT 4218578 PHIRE ADVERTISING & DESIGN LLC 111 MILLER AVE ANN ARBOR MI 48104 MEDIA CAMPAIGNS & ADVERTISING 1751770 DOXIM 747 E WHITCOMB AVENUE MADISON HEIGHTS MI 48071 PROCESSING & MAILING OF NOTICES & STATEM 775723 BRINKS INCORPORATED 7373 SOLUTIONS CENTER CHICAGO IL 60677 BRANCH CASH DELIVERY & ATM SERVICING 727152 Q2 SOFTWARE INC PO BOX 205970 DALLAS TX 75230 COMMERCIAL ONLINE BANKING SYSTEM 531481 23 625000 625000 MEMBER LOAN INCOME 522100 69816616 69816616 FEE INCOME 522100 23929601 23929601 93746217 6662383 6635721 26662 70588 70588 55765 87796 -32031 -32031 -32031 51777504 261879 52069802 257027 -292298 4852 -287446 -287446 INSURANCE INCOME 525990 963334 914993 48341 NON-MEMBER ATM INCOME 525990 255725 255725 1219059 102003770 101296931 330728 -248889 362684 10000 2115808 28819105 930180 5623223 2218033 105818 126396 142805 2423595 2967393 6485821 6104053 5823258 660246 936810 3091520 ATM SERVICE & OP. EXP 6853185 PROVISION FOR LOAN LOSS 4982325 DIVIDENDS AND INTEREST 4461696 LOAN SERVICING 2576896 1725049 89545899 14571556 14445088 168105670 113641551 12062660 12366448 1647704898 1850467015 4287125 3717169 106587376 42981488 65885341 63605888 49254546 962248 435425254 415979109 37680484 38774787 72006126 69771606 2506983660 2583730909 10799769 13855714 117971 108775 16000000 74047000 2252019808 2295113882 2278937548 2383125371 X 16560477 16560477 0 0 211485635 184045061 228046112 200605538 2506983660 2583730909 X 12457871 -39917791 19346 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 10706424 10706424 58742411 15769347 42973064 3534446 2464690 1069756 33604095 24747451 8856644 63605888 FEDERAL HOME LOAN BANK STOCK 4068100 F MORTGAGE BASED SECURITIES 190724149 F BANK CDS 17000000 F US GOVERNMENT & FEDERAL AGENCY SECURITIES 186078775 F RATED MUNICIPAL INSTRUMENTS 11435355 F CORPORATE BONDS 3720730 F CHARITABLE DONATION ACCOUNT 2952000 F 415979109 MEMBERS' SHARES AND SAVINGS ACCOUNTS 2295113882 2295113882 102091566 87796 87796 102003770 0 102003770 89633695 87796 87796 89545899 0 89545899 PART IV, LINE 2B: ESCROW ACCOUNTS ARE MAINTAINED FOR HOME EQUITY LOANS AND CUSTODIAL ACCOUNTS ARE MAINTAINED FOR MORTGAGES PREVIOUSLY SOLD TO FREDDIE MAC OR FANNIE MAE. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 87,796. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 87,796. 1 LAKE TRUST CREDIT UNION FOUNDATION 4605 S OLD US HIGHWAY 23 BRIGHTON MI 48114 455332078 501(C)(3) 114173 0 COMMUNITY ASSISTANCE LAKE TRUST EMPLOYEE ASSISTANCE DOWNTOWN LANSING INC 401 S WASHINGTON SQUARE SUITE 101 LANSING MI 48933 383511288 501(C)(3) 24167 0 SPONSORSHIP OF VARIOUS DOWNTOWN LANSING PROGRAMS & EVENTS FORGOTTEN HARVEST 15000 W EIGHT MILE RD OAK PARK MI 48237 382926476 501(C)(3) 10000 0 SPONSORSHIP OF COMEDY NIGHT EVENT GREATER LANSING AREA MLK HOLIDAY COMMISSION PO BOX 24112 LANSING MI 48909 352405362 501(C)(3) 12500 0 DIVERSITY PARTNERSHIP SAINT JOSEPH MERCY HEALTH SYSTEM PO BOX 995 ANN ARBOR MI 48106 382113393 501(C)(3) 10000 0 PRESCRIPTION FOR LIFE SPONSORSHIP THE CHADTOUGH FOUNDATION PO BOX 907 SALINE MI 48176 474041494 501(C)(3) 10000 0 SPONSOR CHAMPIONS DINNER GREATER LANSING FOOD BANKS PO BOX 16224 LANSING MI 48901 382424756 501(C)(3) 10000 0 VARIOUS SPONSORSHIPS LACASA 2895 WEST GRAND RIVER HOWELL MI 48843 382370824 501(C)(3) 10000 0 SPONSORSHIP IHN AT ALPHA HOUSE 4290 JACKSON ROAD ANN ARBOR MI 48103 383052598 501(C)(3) 10000 0 GIMMEE SHELTER SPONSOR WEINERS LTD 3205 KINGSLEY WAY MADISON WI 53713 391823945 41844 0 POWERED BY GOOD DAY HYGIENE KITS GREATER BRIGHTON CHAMBER OF COMMERCE 218 E GRAND RIVER BRIGHTON MI 48116 382016858 501(C)(6) 16000 0 HOLIDAY GLOW AND CHAMBER ALLIANCE SPONSOR THE SALVATION ARMY 16130 NORTHLAND DR SOUTHFIELD MI 48075 381370971 501(C)(3) 25000 0 LIVINGSTON COUNTY CAPITAL CAMPAIGN CENTER PARK PRODUCTIONS 333 E MICHIGAN AVENUE LANSING MI 48933 383524450 501(C)(3) 10000 0 SILVER BELL SPONSOR NATIONAL CREDIT UNION FOUNDATION 5710 MINERAL POINT ROAD MADISON WI 53705 391383650 501(C)(3) 15000 0 PHILANTHROPIST SPONSORSHIP GROWING HOPE 922 WEST MICHIGAN AVE YPSILANTI MI 48197 743091845 501(C)(3) 10000 0 INCUBATOR KITCHEN SPONSOR 2 STONES EVENT 524 VICTORIA SQUARE BRIGHTON MI 48116 270200464 8000 0 SPONSORSHIP LMTS COMMUNITY OUTREACH SERVICES 1122 W HOLMES SUITE 3 LANSING MI 48842 383423484 501(C)(3) 7000 0 SPONSORSHIP WORKSKILLS FOUNDATION 100 SUMMIT ST BRIGHTON MI 48116 204595453 501(C)(3) 7500 0 SPONSORSHIP HANAD2HAND 306 CHICAGO DRIVE JENSION MI 49428 272973348 501(C)(3) 5500 0 SPONSORSHIP HEROIC IMAGINATION PROJECT 2021 FILLMOREST 171 SAN FRANCISCO CA 94115 271964460 501(C)(3) 6000 0 SPONSORSHIP 17 3 INDIVIDUAL ASSISTANCE FOR GOLF OUTING EXPENSES 1 10000 GRANT USED TOWARDS A GOLF OUTING FOR A 501C(3) ORGANIZATION PART I, LINE 2: LAKE TRUST CREDIT UNION HAS OVERSIGHT OF THE LAKE TRUST CREDIT UNION FOUNDATION AND MONITORS THE USE OF THE GRANT FUNDS FOR THE FOUNDATION AND CREDIT UNION. X 1 1 X X X X 0 1 0 DAVID SNODGRASS CEO AND PRESIDENT 699439 0 450500 0 25100 0 306452 0 19566 0 1501057 0 312500 0 KARA STUEWE EVP, CHIEF FINANCIAL OFFICER 245561 0 9577 0 13400 0 12992 0 20710 0 302240 0 0 0 JACK MARTIN SVP, INFO TECH 237489 0 9395 0 900 0 12216 0 20234 0 280234 0 0 0 RAYNOR ZILLGITT SVP, GENERAL COUNSEL EMERITUS 240756 0 9493 0 900 0 12739 0 15613 0 279501 0 0 0 ANDREA MOSHER EVP, CHIEF LENDING OFFICER 229415 0 8977 0 900 0 12171 0 19883 0 271346 0 0 0 JAMES SARVER SVP, FINANCIAL LIFE PLANNING 207848 0 8078 0 900 0 10410 0 16061 0 243297 0 0 0 BRANDALYNN WINCHESTER-MIDDLEBROOK EVP, CHIEF PEOPLE & PURPOSE OFFICER 205666 0 8038 0 900 0 10741 0 8225 0 233570 0 0 0 THERESA DUBIEL EVP, CHIEF MEMBER EXPERIENCE OFFICER 205224 0 7917 0 900 0 10760 0 7025 0 231826 0 0 0 PART I, LINE 1A BOARD MEMBERS ARE ALLOWED TO HAVE THEIR SPOUSE AND DEPENDENT MINOR CHILDREN ATTEND A CONFERENCE WITH THEM. A 1099-MISC IS ISSUED FOR EXPENSES INCURRED. PART I, LINE 4B PARTICIPANTS IN EXECUTIVE SERP PLANS: DAVID SNODGRASS JANE KILE KARA STUEWE ALL THREE PARTICIPATED IN A SPLIT DOLLAR COLLATERAL INSURANCE SUPPLEMENTAL RETIREMENT PLAN - THEIR LOANS RELATED TO THIS PLAN ARE SHOWN ON SCHEDULE L DAVID SNODGRASS PRESIDENT & CEO EXECUTIVE SERP LOAN X 6928234 8389248 0 1 1 JANE KILE RETIRED CHIEF MEMBER EXPERIENCE OFFICER EXECUTIVE SERP LOAN X 2400000 2744895 0 0 1 KARA STUEWE EVP, CHIEF FINANCIAL OFFICER EXECUTIVE SERP LOAN X 1200000 1232305 0 0 1 12366448 FORM 990, PART VI, SECTION A, LINE 6 ALL ACCOUNT HOLDERS ARE REFERRED TO AS MEMBERS FORM 990, PART VI, SECTION A, LINE 7A MEMBERS ELECT THE GOVERNING BODY FORM 990, PART VI, SECTION A, LINE 7B ONLY DECISIONS SPECIFIED IN THE BYLAWS ARE REQUIRED TO BE APPROVED BY MEMBERS FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY AVP-ACCOUNTING, EVP-FINANCE, TREASURY & CORP SERVICES, PRESIDENT/CEO, AND THE BOARD TREASURER/AUDIT COMMITTEE CHAIR, PRIOR TO FILING THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C DIRECTORS ANNUALLY COMPLETE THE CONFLICT OF INTEREST DOCUMENTS. EMPLOYEES ARE MONITORED BY SUPERVISOR TO ENSURE POLICY COMPLIANCE. DIRECTORS EXCUSE THEMSELVES FROM VOTING IF THERE IS A CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 BOARD OF DIRECTORS APPROVES COMPENSATION FOR CEO BASED ON RECOMMENDATION FROM BOARD EXECUTIVE COMMITTEE. CEO APPROVES COMPENSATION FOR LEADERSHIP TEAM DIRECT REPORTS AND THESE LEADERSHIP TEAM MEMBERS APPROVE COMPENSATION FOR THEIR DIRECT REPORT SVPS AND VPS WITH REVIEW BY CULTURE AND ENGAGEMENT. COMPENSATION CONSULTANT PERFORMS COMPETITIVE MARKET SURVEYS. ALSO PERFORMANCE EVALUATION COMPLETED BY BOARD EXECUTIVE COMMITTEE FOR CEO AND BY CEO FOR LEADERSHIP TEAM DIRECT REPORTS AND BY THESE LEADERSHIP TEAM MEMBERS FOR THEIR DIRECT REPORT SVPS AND VPS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: NET CHANGE IN PENSION & POST RETIREMENT HEALTH 19,346. FORM 990, PART XII, LINE 2C: THE AUDIT COMMITTEE ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE FINANCIAL STATEMENTS. MEMBERS FINANCIAL SERVICES LLC 4605 S OLD US HIGHWAY 23 BRIGHTON MI 48114 364516718 INSURANCE AND FINANCIAL SERVICES MI 9929 211989 LAKE TRUST CREDIT UNION LAKE TRUST CREDIT UNION FOUNDATION 4605 S OLD US HIGHWAY 23 BRIGHTON MI 48114 455332078 ECONOMIC AND COMMUNITY ENHANCEMENT THROUGH EDUCATION AND ENGAGEMENT MI 501(C)(3) LINE 7 N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 LAKE TRUST CREDIT UNION FOUNDATION B 114173 CASH PAYMENT