2022-10-20T07:20:30-05:00 2021-12-31 381357951 PLANTE & MORAN PLLC 2601 CAMBRIDGE CT STE 300 AUBURN HILLS MI 48326 990 2021-01-01 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 2022-10-18 1 DAVID SNODGRASS 999009999 TINA PETERS P00904574 2483757100 2022-10-18 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z LAKE TRUST CREDIT UNION DAVID SNODGRASS 4605 S OLD US HIGHWAY 23 BRIGHTON MI 48114 181107678 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. 11 11 528 11 208952 0 641000 2576265 90635336 91285755 4334321 3059530 1345404 1721971 96956061 98643521 283907 339944 0 0 35258220 37242515 0 0 0 51413467 43235742 86955594 80818201 10000467 17825320 2241849498 2506983660 2026013035 2278937548 215836463 228046112 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 177,271 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 0 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 1 61896 0 1 528 1 1 1 0 0 0 0 0 1 0 X 11 11 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 2920 0 0 RAY SEIDL TREASURER 10.00 0.00 X X 3053 0 0 JAMES BARNES SECRETARY 5.00 0.00 X X 3103 0 0 KATHRYN RUSAK DIRECTOR 4.00 0.00 X 4681 0 0 DENNIS TOCHMAN DIRECTOR 4.00 0.00 X 3473 0 0 JULIE BONNER-HEINE DIRECTOR 4.00 0.00 X 775 0 0 SHANE LOVELLETTE DIRECTOR 4.00 0.00 X 1615 0 0 AARON SEYBERT DIRECTOR 4.00 0.00 X 2717 0 0 PHILIP SANTER DIRECTOR 4.00 0.00 X 0 0 0 MONICA MARTINEZ DIRECTOR 4.00 0.00 X 775 0 0 DAVID SNODGRASS CEO AND PRESIDENT 40.00 0.50 X 1161903 0 395919 JANE KILE - PART YEAR CHIEF MEMBER EXPERIENCE OFFICER 40.00 0.50 X 100944 0 9001 KARA STUEWE EVP-FINANCE, TREASURY & CORP SVCS 40.00 0.00 X 288701 0 37401 RAYNOR ZILLGITT SVP, GEN COUNSEL 40.00 0.50 X 275989 0 30094 JACK MARTIN SVP, INFO TECH 40.00 0.00 X 269296 0 13374 SANDRA RADTKE COMMERCIAL SOL OFFICER II 40.00 0.00 X 302449 0 18204 ANDREA MOSHER SVP, CREDIT ADMINISTRATION 40.00 0.00 X 258819 0 13586 JAMES SARVER SVP, FINANCIAL LIFE PLANNING 40.00 0.00 X 238207 0 27873 2919420 0 545452 48 0 1 0 FISERV 255 FISERV DR BROOKFIELD WI 53045 CORE SYSTEM PROVIDER & DEBIT/ATM/CREDIT 3731191 PHIRE ADVERTISING & DESIGN LLC 111 MILLER AVE ANN ARBOR MI 48104 MEDIA CAMPAIGNS & ADVERTISING 1289778 THE CHRISTMAN COMPANY 208 N CAPITOL AVENUE LANSING MI 48933 CONSTRUCTION & REMODELING SERVICES 1084909 DOXIM 747 E WHITCOMB AVENUE MADISON HEIGHTS MI 48071 PROCESSING & MAILING OF NOTICES & STATEM 684501 AVTEX SOLUTIONS LLC 6011 N ADAMS RD 285 BLOOMFIELD HILLS MI 48304 WORKFORCE SOFTWARE - INTERACTION OPTIMIZ 512989 25 2576265 2576265 MEMBER LOAN INCOME 522100 64835808 64835808 FEE INCOME 522100 26449947 26449947 91285755 3618419 3584872 33547 67956 67956 53236 83630 -30394 -30394 -30394 80504965 1316673 81198263 1182264 -693298 134409 -558889 -558889 INSURANCE INCOME 525990 1043215 992801 50414 LIFE INSURANCE PROCEED 525100 516203 516203 NON-MEMBER ATM INCOME 525990 124991 124991 1684409 98643521 96379631 208952 -521327 339944 2017380 27435530 824954 4872757 2091894 96090 91300 114301 1402412 2658388 6215204 5591483 5696319 469768 629203 2631827 ATM SERVICE & OP. EXP 6338668 PROVISION FOR LOAN LOSS 4159872 DIVIDENDS AND INTEREST 3657317 LOAN SERVICING 2302314 1181276 80818201 15689444 14571556 188408771 168105670 13422735 12062660 1563848547 1647704898 3829453 4287125 104552351 38667010 64634951 65885341 71003604 49254546 216662352 435425254 36907162 37680484 67442479 72006126 2241849498 2506983660 10800392 10799769 194871 117971 22000000 16000000 1993017772 2252019808 2026013035 2278937548 X 16560477 16560477 0 0 199275986 211485635 215836463 228046112 2241849498 2506983660 X 17825320 -6282352 666681 X X 0 1 X 1 1 1 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 10706424 10706424 58645198 13727182 44918016 3535013 2187331 1347682 31665716 22752497 8913219 65885341 FEDERAL HOME LOAN BANK STOCK 4453100 F MORTGAGE BASED SECURITIES 219713264 F BANK CDS 15000000 F US GOVERNMENT & FEDERAL AGENCY SECURITIES 183825657 F RATED MUNICIPAL INSTRUMENTS 12433233 F 435425254 MEMBERS' SHARES AND SAVINGS ACCOUNTS 2252019808 2252019808 98727151 83630 83630 98643521 0 98643521 80901831 83630 83630 80818201 0 80818201 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 83,630. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 83,630. 1 LAKE TRUST CREDIT UNION FOUNDATION 4605 S OLD US HIGHWAY 23 BRIGHTON MI 48114 455332078 501(C)(3) 140277 0 COMMUNITY ASSISTANCE LAKE TRUST EMPLOYEE ASSISTANCE DOWNTOWN LANSING INC 401 S WASHINGTON SQUARE SUITE 101 LANSING MI 48933 383511288 501(C)(3) 21667 0 SPONSORSHIP OF VARIOUS DOWNTOWN LANSING EVENTS IMPRESSION 5 SCIENCE CENTER 200 MUSEUM DRIVE LANSING MI 48933 237200548 501(C)(3) 10000 0 SPONSORSHIP OF TRAVELING MUSEUM EXHIBIT 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 COVID-19 RESPONSE THE CHADTOUGH FOUNDATION PO BOX 907 SALINE MI 48176 474041494 501(C)(3) 10000 0 GOLF OUTING SPONSOR 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) 13500 0 SPONSORSHIP GLEANERS COMMUNITY FOOD BANK SE MI 2131 BEAUFAIT DETROIT MI 48207 382156255 501(C)(3) 13500 0 MATCHING FOOD GIFTS WAYNE STATE UNIVERSITY PROVOST 5700 CASS AVENUE SUITE 4100 AAB DETROIT MI 48202 386028429 501(C)(3) 27500 0 FINANCIAL CAPABILITY PILOT GREATER BRIGHTON CHAMBER OF COMMERCE 218 E GRAND RIVER BRIGHTON MI 48116 382016858 501(C)(6) 11000 0 HOLIDAY GLOW AND CHAMBER ALLIANCE SPONSOR BOUNTIFUL HARVESTINC 803 W MAIN ST BRIGHTON MI 48116 461749889 501(C)(3) 10000 0 CHRISTMAS CONCERT SPONSOR CENTER PARK PRODUCTIONS 333 E MICHIGAN AVENUE LANSING MI 48933 383524450 501(C)(3) 10000 0 SILVER BELL SPONSOR ROSEMONT COLLEGE OF THE HOLY CHILD OF JESUS 1400 MONTGOMERY AVENUE ROSEMONT PA 19010 231365966 501(C)(3) 20000 0 PLATINUM SPONSORSHIP UTEC 1995 HIGHLAND DRIVE SUITE C ANN ARBOR MI 48108 20000 0 ROCKET MORTGAGE CLASSIC CABANAS SPONSORSHIP 13 2 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 634645 0 502500 0 24758 0 373092 0 22827 0 1557822 0 312500 0 KARA STUEWE EVP-FINANCE, TREASURY & CORP SVCS 234785 0 40858 0 13058 0 14014 0 23387 0 326102 0 0 0 SANDRA RADTKE COMMERCIAL SOL OFFICER II 296916 0 1633 0 3900 0 10661 0 7543 0 320653 0 0 0 RAYNOR ZILLGITT SVP, GEN COUNSEL 234637 0 40452 0 900 0 12097 0 17997 0 306083 0 0 0 JACK MARTIN SVP, INFO TECH 259526 0 9395 0 375 0 5141 0 8233 0 282670 0 0 0 ANDREA MOSHER SVP, CREDIT ADMINISTRATION 249467 0 8977 0 375 0 5378 0 8208 0 272405 0 0 0 JAMES SARVER SVP, FINANCIAL LIFE PLANNING 203525 0 34307 0 375 0 10263 0 17610 0 266080 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 8162059 0 1 1 JANE KILE CHIEF MEMBER EXPERIENCE OFFICER EXECUTIVE SERP LOAN X 2400000 2684231 0 0 1 KARA STUEWE EVP-FINANCE, TREASURY & CORP SVCS EXECUTIVE SERP LOAN X 1200000 1216370 0 0 1 12062660 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 666,681. 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 10062 202060 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 140277 CASH PAYMENT