2019-11-04T07:42:00-06:00 2018-12-31 381357951 PLANTE & MORAN PLLC 2601 CAMBRIDGE CT STE 500 AUBURN HILLS MI 48326 990 2018-01-01 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 2019-10-24 1 LYNNE M HUISMANN P00053811 2483757100 2019-10-21 67.59.56.30 2019-10-24 14:22:19 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 0E988EC3D2FAF332558A933BD9C3DA253F382B59 2018 2020-03-31 21:24:44Z LAKE TRUST CREDIT UNION DAVID SNODGRASS 4605 S OLD US HIGHWAY 23 BRIGHTON MI 48114 148359029 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. 10 10 509 10 249407 0 0 0 77202422 80934425 3419474 7683085 1457117 1292227 82079013 89909737 264744 203218 0 0 29776272 32038211 0 0 0 43340361 46763795 73381377 79005224 8697636 10904513 1817258784 1860352431 1634022474 1667669892 183236310 192682539 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 175,445 MEMBERS BY OFFERING LOANS, DEPOSITS, AND OTHER FINANCIAL PRODUCTS. 0 0 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 99397 0 1 509 1 1 1 0 0 0 0 0 0 0 X 10 10 0 0 1 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X CHRIS MACLEAN 8882677200 4605 S OLD US HIGHWAY 23 BRIGHTON MI 48114 AARON SEYBERT DIRECTOR 4.00 X 664 0 0 BERNICE SULLIVAN DIRECTOR (THROUGH 4/24) 4.00 X 0 0 0 DENNIS TOCHMAN CHAIRPERSON 10.00 X X 4791 0 0 JAMES BARNES SECRETARY 5.00 X X 443 0 0 JAMES BONNER DIRECTOR 4.00 X 5476 0 0 KATHRYN RUSAK DIRECTOR 4.00 X 1104 0 0 MICHAEL SOLO DIRECTOR 4.00 X 1262 0 0 PHILIP SANTER DIRECTOR 4.00 X 0 0 0 RAY SEIDL TREASURER 10.00 X X 180 0 0 RICK LABER VICE CHAIRPERSON 4.00 X X 4563 0 0 SHANE LOVELLETTE DIRECTOR 4.00 X 3838 0 0 DAVID SNODGRASS CEO AND PRESIDENT 40.00 0.50 X 699687 0 147873 JANE KILE CHIEF MEMBER EXPERIENCE OFFICER 40.00 0.50 X 278672 0 32352 KARA STUEWE EXVP-FINANCE, TREASURY & CORP SERVICES 40.00 X 215550 0 34504 ANDREA MOSHER SVP, CREDIT ADMINISTRATION 40.00 X 200905 0 34313 DIANA SCOTT SVP, FINANCE 40.00 X 200890 0 17972 GARRET SISCO SVP, MEMBER EXPERIENCE 40.00 X 191947 0 33254 JACK MARTIN SVP, INFO TECH 40.00 X 211429 0 32474 RAYNOR ZILLGITT SVP, GEN COUNSEL 40.00 0.50 X 224132 0 29060 2245533 0 361802 26 0 1 0 PSCU 560 CARILLON PARKWAY ST PETERSBURG FL 33716 CREDIT, DEBIT & ATM CARD SERVICES 4061640 FISERV 255 FISERV DR BROOKFIELD WI 53045 CORE SYSTEM PROVIDER 3046617 CU COOPERATIVE SYSTEMS 9692 HAVEN AVENUE RANCHO CUCAMONGA CA 91730 SERVICE CENTER & DR/ATM CARD TRANSACTION 899525 IDSCOM 747 E WHITCOMB AVENUE MADISON HEIGHTS MI 48071 PROCESSING & MAILING OF NOTICES & STATEM 532180 NEW IMAGE BUILDING SERVICES INC 1405 COMMERCE DRIVE TROY MI 48083 JANITORIAL SERVICES AND SUPPLIES 402308 26 MEMBER LOAN INCOME 522100 60320701 60320701 FEE INCOME 522100 20613724 20613724 80934425 4755186 4747104 8082 49174 49174 29934 24629 5305 5305 5305 55277000 6075562 55284672 3139991 -7672 2935571 2927899 2927899 INSURANCE INCOME 525990 1065821 996423 69398 NON-MEMBER ATM INCOME 525990 171927 171927 1237748 89909737 86677952 249407 2982378 203218 1430960 23640577 896456 4206388 1863830 208494 116400 84310 1986155 1248979 5773529 6537858 5091488 799537 1955416 6032225 PROVISION FOR LOAN LOSS 5439262 DIVIDENDS AND INTEREST 5326769 LOAN SERVICING 2851467 ATM SERVICE AND OPERATI 1800188 1511718 79005224 9604132 13331200 81280268 58816249 8537081 8698789 1383389880 1457686976 3149800 3041504 88439770 27305511 62736245 61134259 30154587 17248274 141099481 144679370 43399533 40514035 53907777 55201775 1817258784 1860352431 10867732 10605426 185098 150687 34000000 37000000 1588969644 1619913779 1634022474 1667669892 X 16560477 16560477 0 0 166675833 176122062 183236310 192682539 1817258784 1860352431 X 10904513 -919472 -538812 X X 0 1 X 1 0 0 1 X 9647231 9647231 53039571 9590412 43449159 1891344 1669553 221791 23861624 16045546 7816078 61134259 FEDERAL HOME LOAN BANK STOCK 4453100 F MORTGAGE BASED SECURITIES 74673875 F BANK CDS 11975077 F US GOVERNMENT & FEDERAL AGENCY SECURITIES 52577408 F RATED MUNICIPAL INSTRUMENTS 999910 F 144679370 MEMBERS' SHARES AND SAVINGS ACCOUNTS 1619913779 1619913779 89934366 24629 24629 89909737 0 89909737 79029854 24629 24629 79005225 0 79005225 PART IV, LINE 2B: CUSTODIAL ACCOUNTS ARE MAINTAINED FOR MORTGAGES PREVIOUSLY SOLD TO FREDDIE MAC OR FANNIE MAE. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 24,629. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 24,629. 1 LAKE TRUST CREDIT UNION FOUNDATION 4605 S OLD US HIGHWAY 23 BRIGHTON MI 48114 455332078 501(C)(3) 91418 COMMUNITY ASSISTANCE LANSING PROMISE 330 MARSHALL ST STE 2013 LANSING MI 48912 453363322 501(C)(3) 5000 SCHOLAR PACKAGE ST JOSEPH MERCY HEALTH SYSTEM 5301 E HURON ANN ARBOR MI 48106 382113393 501(C)(3) 10000 SURGICAL SERVICES FOR BRIGHTON AND HOWELL CHADTOUGH FOUNDATION PO BOX 907 SALINE MI 48176 474041494 501(C)(3) 5000 SPONSORSHIP OF CHAMPIONS FOR CHANGE GALA CHAMPIONSHIP TOURNAMENT HOLDINGS LLC 2950 S STATE ST ANN ARBOR MI 48104 473640519 N/A 15000 SUPPORT LGPA GOLF TOURNAMENT HUMBLE DESIGN INC 180 N SAGINAW ST PONTIAC MI 48342 270410088 501(C)(3) 5000 SPONSORSHIP OF BEAUTY WITHIN EVENT HOWELL MAINSTREET DDA 118 W CLINTON ST HOWELL MI 48843 812891619 170(C)(1) 10000 SPONSORSHIP OF GREAT AMERICAN MAIN STREET AWARDS DOWNTOWN LANSING INC 401 S WASHINGTON SQUARE LANSING MI 48933 386004628 170(C)(1) 6800 SUPPORT OF ANNUAL FIREWORKS GREATER LANSING FOOD BANK PO BOX 16224 LANSING MI 48901 382424756 501(C)(3) 10000 SPONSORSHIP OF EMPTY PLATE DINNER FOOD GATHERERS PO BOX 131037 ANN ARBOR MI 48113 382853858 501(C)(3) 5000 SPONSORSHIP OF GRILLIN 2018 EVENT GLEANERS COMMUNITY FOOD BANK 2131 BEAUFAIT DETROIT MI 48207 382156255 501(C)(3) 10000 SPONSORSHIP OF IRON CHEF EVENT IMPRESSION 5 SCIENCE CENTER 200 MUSEUM DRIVE LANSING MI 48933 237200548 501(C)(3) 20000 SPONSORSHIP OF TRAVELING MUSEUM EXHIBIT CAPUCHIN SOUP KITCHEN 1820 MT ELLIOTT STREET DETROIT MI 48207 381525161 501(C)(3) 5000 SPONSORSHIP OF ANNUAL SOUP KITCHEN DINNER EVENT GREATER LANSING AREA MLK HOLIDAY COMM PO BOX 24112 LANSING MI 48909 352405362 501(C)(3) 5000 SPONSORSHIP OF LEGACY OF SERVICE EVENT 13 1 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 530887 0 145000 0 23800 0 125329 0 22544 0 847560 0 0 0 JANE KILE CHIEF MEMBER EXPERIENCE OFFICER 260986 0 5586 0 12100 0 12477 0 19875 0 311024 0 0 0 KARA STUEWE EXVP-FINANCE, TREASURY & CORP SERVIC 210225 0 4425 0 900 0 11048 0 23456 0 250054 0 0 0 ANDREA MOSHER SVP, CREDIT ADMINISTRATION 195776 0 4229 0 900 0 10319 0 23994 0 235218 0 0 0 DIANA SCOTT SVP, FINANCE 195922 0 4068 0 900 0 9867 0 8105 0 218862 0 0 0 GARRET SISCO SVP, MEMBER EXPERIENCE 186980 0 4067 0 900 0 9830 0 23424 0 225201 0 0 0 JACK MARTIN SVP, INFO TECH 206011 0 4518 0 900 0 10705 0 21769 0 243903 0 0 0 RAYNOR ZILLGITT SVP, GEN COUNSEL 218577 0 4655 0 900 0 11005 0 18055 0 253192 0 0 0 PART I, LINE 1A BOARD MEMBERS ARE ALLOWED TO HAVE THEIR SPOUSE 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 BRIAN MCVEIGH 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 3928234 4532771 0 1 1 JANE KILE CHIEF MEMBER EXPERIENCE OFFICER EXECUTIVE SERP LOAN X 2400000 2510012 0 0 1 BRIAN MCVEIGH FORMER SR VP, ADMIN, FIN + INTEL/CFO EXECUTIVE SERP LOAN X 1656006 1656006 0 0 1 8698789 FORM 990, PART VI, SECTION A, LINE 4 FIELD OF MEMBERSHIP EXPANDED TO THE ENTIRE STATE OF MICHIGAN. 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 SVP OF FINANCE, EXVP-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 -538,812. 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 9702 171813 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) 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 91418 CASH PAYMENT