2021-10-29T15:19:40-05:00 2020-12-31 381357951 PLANTE & MORAN PLLC 2601 CAMBRIDGE CT STE 500 AUBURN HILLS MI 48326 990 2020-01-01 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 2021-10-25 1 DAVID SNODGRASS 999009999 TINA PETERS P00904574 2483757100 2021-10-25 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z LAKE TRUST CREDIT UNION DAVID SNODGRASS 4605 S OLD US HIGHWAY 23 BRIGHTON MI 48114 182597324 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 11 502 11 213154 0 334000 641000 86909557 90635336 5666468 4334321 2823149 1345404 95733174 96956061 266774 283907 0 0 34911268 35258220 0 0 0 51208290 51413467 86386332 86955594 9346842 10000467 1917932508 2241849498 1713055875 2026013035 204876633 215836463 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 176,561 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 97243 0 1 502 1 1 1 0 0 0 0 0 0 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 DAVID SNODGRASS CEO AND PRESIDENT 40.00 0.50 X 784952 0 368021 JANE KILE CHIEF MEMBER EXPERIENCE OFFICER 40.00 0.50 X 299237 0 34205 KARA STUEWE EVP-FINANCE, TREASURY & CORP SVCS 40.00 0.00 X 245814 0 35395 RAYNOR ZILLGITT SVP, GEN COUNSEL 40.00 0.50 X 237702 0 29297 JACK MARTIN SVP, INFO TECH 40.00 0.00 X 230120 0 32733 GARRET SISCO SVP, MEMBER EXPERIENCE 40.00 0.00 X 219744 0 34127 ANDREA MOSHER SVP, CREDIT ADMINISTRATION 40.00 0.00 X 220488 0 32597 JAMES SARVER SVP, FINANCIAL LIFE PLANNING 40.00 0.00 X 202023 0 27433 DENNIS TOCHMAN CHAIRPERSON 10.00 0.00 X X 954 0 0 JULIE BONNER-HEINE DIRECTOR 4.00 0.00 X 775 0 0 PHILIP SANTER DIRECTOR 4.00 0.00 X 620 0 0 JAMES BARNES SECRETARY 5.00 0.00 X X 597 0 0 RICK LABER VICE CHAIRPERSON 4.00 0.00 X X 493 0 0 RAY SEIDL TREASURER 10.00 0.00 X X 299 0 0 SHANE LOVELLETTE DIRECTOR 4.00 0.00 X 0 0 0 AARON SEYBERT DIRECTOR 4.00 0.00 X 0 0 0 KATHRYN RUSAK DIRECTOR 4.00 0.00 X 0 0 0 MICHAEL SOLO DIRECTOR 4.00 0.00 X 0 0 0 MONICA MARTINEZ DIRECTOR 4.00 0.00 X 0 0 0 2443818 0 593808 36 0 1 0 FISERV 255 FISERV DR BROOKFIELD WI 53045 CORE SYSTEM PROVIDER & DEBIT/ATM/CREDIT 4197543 DOXIM 747 E WHITCOMB AVENUE MADISON HEIGHTS MI 48071 PROCESSING & MAILING OF NOTICES & STATEM 626351 CU COOPERATIVE SYSTEMS 9692 HAVEN AVENUE RANCHO CUCAMONGA CA 91730 SERVICE CENTER & DR/ATM CARD TRANSACTION 622752 NEW IMAGE BUILDING SERVICES INC 1405 COMBERMERE TROY MI 48083 JANITORIAL SERVICES AND SUPPLIES 534342 PHIRE ADVERTISING & DESIGN LLC 111 MILLER AVE ANN ARBOR MI 48104 MEDIA CAMPAIGNS & ADVERTISING 512092 28 641000 641000 MEMBER LOAN INCOME 522100 65543796 65543796 FEE INCOME 522100 25091540 25091540 90635336 3504693 3481091 23602 49838 49838 43905 91891 -47986 -47986 -47986 85448000 931000 84679118 870254 768882 60746 829628 829628 INSURANCE INCOME 525990 1224731 1154000 70731 NON-MEMBER ATM INCOME 525990 118821 118821 1343552 96956061 95270427 213154 831480 283907 1771363 26096052 814197 4577507 1999101 148088 116100 78637 1124275 1744689 6414569 4692279 5559971 304136 1519416 3800833 PROVISION FOR LOAN LOSS 11036849 DIVIDENDS AND INTEREST 6194656 ATM SERVICE AND OPERATI 5510827 LOAN SERVICING 2179302 988840 86955594 11589667 15689444 79284054 188408771 11948613 13422735 1486786470 1563848547 3093578 3829453 102172241 37537290 65509214 64634951 12911027 71003604 147752700 216662352 37628537 36907162 61428648 67442479 1917932508 2241849498 9630107 10800392 265442 194871 30000000 22000000 1673160326 1993017772 1713055875 2026013035 X 16560477 16560477 0 0 188316156 199275986 204876633 215836463 1917932508 2241849498 X 10000467 1559366 -600003 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 10853200 10853200 58662852 13563932 45098920 3716456 2087002 1629454 28939733 21886356 7053377 64634951 FEDERAL HOME LOAN BANK STOCK 4453100 F MORTGAGE BASED SECURITIES 140803479 F BANK CDS 9000000 F US GOVERNMENT & FEDERAL AGENCY SECURITIES 53914795 F RATED MUNICIPAL INSTRUMENTS 8490978 F 216662352 MEMBERS' SHARES AND SAVINGS ACCOUNTS 1993017772 1993017772 97047952 91891 91891 96956061 0 96956061 87047485 91891 91891 86955594 0 86955594 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 91,891. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 91,891. 1 LAKE TRUST CREDIT UNION FOUNDATION 4605 S OLD US HIGHWAY 23 BRIGHTON MI 48114 455332078 501(C)(3) 131582 COMMUNITY ASSISTANCE/LAKE TRUST EMPLOYEE ASSISTANCE DOWNTOWN LANSING INC 401 S WASHINGTON SQUARE SUITE 101 LANSING MI 48933 383511288 501(C)(3) 32950 SPONSORSHIP OF VARIOUS DOWNTOWN LANSING EVENTS IMPRESSION 5 SCIENCE CENTER 200 MUSEUM DRIVE LANSING MI 48933 237200548 501(C)(3) 20000 SPONSORSHIP OF TRAVELING MUSEUM EXHIBIT GREATER LANSING AREA MLK HOLIDAY COMMISSION PO BOX 24112 LANSING MI 48909 352405362 501(C)(3) 12500 DIVERSITY PARTNERSHIP SAINT JOSEPH MERCY HEALTH SYSTEM PO BOX 995 ANN ARBOR MI 48106 382113393 501(C)(3) 10000 TRANSFORMATION AT ST. JOES LIVINGSTON OXFORD KIDS FOUNDATION 7030 WHITMORE LAKE ROAD BRIGHTON MI 48116 271548184 501(C)(3) 10000 ANNUAL GALA SPONSORS THE CHADTOUGH FOUNDATION PO BOX 907 SALINE MI 48176 474041494 501(C)(3) 7500 2020 CHAMPIONS CHANGE GALA TABLE LEGACY CENTER MICHIGAN 9299 GOBLE DR BRIGHTON MI 48116 462877405 7000 SPONSORSHIP PATRONICITY 438 26TH UNIT A OAKLAND CA 94612 801624139 6375 CROWD FUNDING CAMPAIGN EASTERN MARKET CORPORATION 2934 RUSSELL STREET DETROIT MI 48207 320030432 501(C)(3) 6000 DETROIT KITCHEN CONNECTION 8 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 595619 0 165000 0 24333 0 345392 0 22629 0 1152973 0 0 0 JANE KILE CHIEF MEMBER EXPERIENCE OFFICER 281024 0 5580 0 12633 0 14250 0 19955 0 333442 0 0 0 KARA STUEWE EVP-FINANCE, TREASURY & CORP SVCS 224705 0 8476 0 12633 0 11932 0 23463 0 281209 0 0 0 RAYNOR ZILLGITT SVP, GEN COUNSEL 228262 0 8540 0 900 0 11955 0 17342 0 266999 0 0 0 JACK MARTIN SVP, INFO TECH 220865 0 8355 0 900 0 11317 0 21416 0 262853 0 0 0 GARRET SISCO SVP, MEMBER EXPERIENCE 210908 0 7936 0 900 0 11198 0 22929 0 253871 0 0 0 ANDREA MOSHER SVP, CREDIT ADMINISTRATION 211664 0 7924 0 900 0 11181 0 21416 0 253085 0 0 0 JAMES SARVER SVP, FINANCIAL LIFE PLANNING 193957 0 7166 0 900 0 10083 0 17350 0 229456 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 BRIAN MCVEIGH - THROUGH 12/20 ALL FOUR 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 7941185 0 1 1 JANE KILE CHIEF MEMBER EXPERIENCE OFFICER EXECUTIVE SERP LOAN X 2400000 2624908 0 0 1 BRIAN MCVEIGH FORMER SR VP, ADMIN, FIN + INTEL/CFO EXECUTIVE SERP LOAN X 1656006 1656000 0 0 1 KARA STUEWE EVP-FINANCE, TREASURY & CORP SVCS EXECUTIVE SERP LOAN X 1200000 1200642 0 0 1 13422735 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 MONITORED THROUGHOUT POLICY COMPLIANCE BY SUPERVISOR. 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 -600,003. 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 9552 191998 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 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 131582 CASH PAYMENT