2018-10-23T12:07:48-05:00 2017-12-31 381357951 PLANTE & MORAN PLLC 2601 CAMBRIDGE CT STE 500 AUBURN HILLS MI 48326 990 2017-01-01 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 2018-10-16 1 LYNNE M HUISMANN P00053811 2483757100 2018-10-10 67.59.56.33 2018-10-16 07:26:01 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 9217EF0BA3E8F2577BEA218D38C24CF1C5AC17C5 2017 2018-06-14 16:35:46Z LAKE TRUST CREDIT UNION DAVID SNODGRASS 4605 S OLD US HIGHWAY 23 BRIGHTON MI 48114 130471954 0 1359 X WWW.LAKETRUST.ORG X 1943 MI 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. 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. 7 7 465 13 242965 -266929 0 0 75393781 77202422 2458375 3419474 1128892 1457117 78981048 82079013 10375 264744 0 0 28970794 29776272 0 0 0 45005516 43340361 73986685 73381377 4994363 8697636 1775026639 1817258784 1598930778 1634022474 176095861 183236310 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. 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 181,324 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 96305 0 1 465 1 1 1 0 0 0 0 0 X 7 7 0 0 1 0 1 1 1 1 1 0 0 0 1 1 1 0 1 1 1 0 X DIANA SCOTT 8882677200 4605 S OLD US HIGHWAY 23 BRIGHTON MI 48114 SHANE LOVELETTE DIRECTOR 4.00 X 2906 0 0 JAMES BONNER DIRECTOR 4.00 X 2930 0 0 RAY SEIDL TREASURER 10.00 X X 600 0 0 JAMES BARNES SECRETARY 5.00 X X 2298 0 0 RICK LABER VICE CHAIRPERSON 4.00 X X 2619 0 0 BERNICE SULLIVAN DIRECTOR 4.00 X 0 0 0 DENNIS TOCHMAN CHAIRPERSON 10.00 X X 4246 0 0 PHILIP CZECH DIRECTOR (THROUGH 4/25) 4.00 X 750 0 0 KIMBERLY BISHOP DIRECTOR (THROUGH 6/27) 4.00 X 0 0 0 DAVID SNODGRASS CEO AND PRESIDENT 40.00 X 1226329 0 30172 JANE KILE SR VP, MEMBER EXPERIENCE 40.00 X 261918 0 27392 KARA STUEWE EXEC VP FINANCE, TREASURY, & CORP SVCS 40.00 X 200006 0 27602 RAYNOR ZILLGITT SVP GENERAL COUNSEL 40.00 X 210745 0 25153 JACK MARTIN SVP INFORMATION TECHNOLOGY 40.00 X 222451 0 25879 DIANA SCOTT SVP FINANCE 40.00 X 191015 0 15399 ANDREA MOSHER SVP CREDIT ADMINISTRATION 40.00 X 196454 0 28145 GARRET SISCO VP MEMBER EXPERIENCE - OPERATIONS 40.00 X 184196 0 26146 2709463 0 205888 26 0 1 0 PSCU 560 CARILLON PARKWAY ST PETERSBURG FL 33716 CREDIT, DEBIT & ATM CARD SERVICES 3806862 FISERV 75 REMITTANCE DR DEPT 1649 CHICAGO IL 60675 CORE SYSTEM PROVIDER 2523557 CU COOPERATIVE SYSTEMS 9692 HAVEN AVENUE RANCHO CUCAMONGA CA 91730 SERVICE CENTER & DR/ATM CARD TRANSACTION 1194410 IDSCOM 747 E WHITCOMB AVENUE MADISON HEIGHTS MI 48071 PROCESSING & MAILING OF NOTICES & STATEM 571617 SYNERGI MEDIA LLC 400 S STATE ST SUITE 400 ZEELAND MI 49464 ADVERTISING SERVICES 504131 23 MEMBER LOAN INCOME 522100 57982916 57982916 FEE INCOME 522100 19219506 19219506 77202422 3864628 3853690 10938 46506 46506 42953 25696 17257 17257 17257 47079000 843091 47078899 1288346 101 -445255 -445154 -445154 INSURANCE INCOME 525990 1224520 1161327 63193 NON-MEMBER ATM INCOME 525990 168834 168834 1393354 82079013 82217439 242965 -381391 264744 1789769 21117693 869533 4243306 1755971 339789 114600 76561 1868080 1149230 4684419 6042218 5142096 722064 1914395 6387216 PROVISION FOR LOAN LOSS 5093791 DIVIDENDS AND INTEREST 4055356 LOAN SERVICING 2934754 ATM SERVICE AND OPERATI 1830379 985413 73381377 10006022 9604132 85064751 81280268 8379083 8537081 1351452701 1383389880 2354543 3149800 93735073 30998828 64491738 62736245 28329284 30154587 118819290 141099481 46763102 43399533 59366125 53907777 1775026639 1817258784 10364700 10867732 181739 185098 41000000 34000000 1547384339 1588969644 1598930778 1634022474 X 16560477 16560477 0 0 159535384 166675833 176095861 183236310 1775026639 1817258784 X 8697636 -1057817 -499370 X X 0 1 X 1 0 0 1 X 8888161 8888161 57675593 12064873 45610720 1699458 1562167 137291 25471861 17371788 8100073 62736245 FEDERAL HOME LOAN BANK STOCK 4453100 F MORTGAGE BASED SECURITIES 82950167 F BANK CDS 12982496 F US GOVERNMENT & FEDERAL AGENCY SECURITIES 40713718 F 141099481 MEMBERS' SHARES AND SAVINGS ACCOUNTS 1588969644 1588969644 82104709 25696 25696 82079013 0 82079013 73407073 25696 25696 73381377 0 73381377 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 25,696. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 25,696. 1 LAKE TRUST CREDIT UNION FOUNDATION 4605 S OLD US HIGHWAY 23 BRIGHTON MI 48114 455332078 501(C)(3) 80779 COMMUNITY ASSISTANCE CAPITOL REGION COMMUNITY FOUNDATION 330 MARSHALL LANSING MI 48912 382776652 501(C)(3) 5000 COMMUNITY ASSISTANCE ST JOSEPH MERCY HEALTH SYSTEM 5301 E HURON ANN ARBOR MI 48106 382113393 501(C)(3) 15000 SURGICAL SERVICES FOR BRIGHTON AND HOWELL MICHIGAN HIGH SCHOOL ATHLETIC ASSOCIATION 1661 RAMBLEWOOD DR EAST LANSING MI 48823 381603100 501(C)(3) 56000 MICHIGAN HIGH SCHOOL ATHLETIC SPORTS ASSISTANCE CHAMPIONSHIP TOURNAMENT HOLDINGS LLC 2950 S STATE ST ANN ARBOR MI 48104 473640519 15000 SUPPORT LGPA GOLF TOURNAMENT GREATER BRIGHTON AREA CHAMBER OF COMMERCE 218 E GRAND RIVER BRIGHTON MI 48116 382016858 501(C)(6) 12500 PROMOTE BUSINESS OPPORTUNITIES FOR BRIGHTON HOLLAND TULIPTIME FESTIVAL INC 74 WEST 8TH ST HOLLAND MI 49423 381266660 501(C)(3) 10000 SUPPORT OF ANNUAL TULIP FESTIVAL CLEARY UNIVERSITY 3750 CLEARY DRIVE HOWELL MI 48843 381393841 501(C)(3) 10000 MUSCLE CAR SPONSOR DOWNTOWN LANSING INC 401 S WASHINGTON SQUARE LANSING MI 48933 386004628 GOVERNMENT ENTITY 6800 SUPPORT OF ANNUAL FIREWORKS GRAND HAVEN COAST GUARD FESTIVAL 113 N SECOND STREET GRAND HAVEN MI 49417 382392448 501(C)(3) 7500 SUPPORT OF ANNUAL COAST GUARD FESTIVAL ANN ARBOR HANDS-ON MUSEUM 220 EAST ANN STREET ANN ARBOR MI 48104 382236345 501(C)(3) 5000 SPONSOR MUSEUM EVENT GLEANERS COMMUNITY FOOD BANK 2131 BEAUFAIT DETROIT MI 48207 382156255 501(C)(3) 5000 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 HARTLAND AREA CHAMBER OF COMMERCE 3508 AVON HARTLAND MI 48353 383336484 501(C)(6) 8000 PROMOTE BUSINESS OPPORTUNITIES FOR HARTLAND THE HOUSE OF PROMISE 1700 E BELTLINE STE 200 GRAND RAPIDS MI 49525 455272090 501(C)(3) 8165 SUPPORT HOME FOR SURVIVORS OF SEXUAL ABUSE/TRAFFICKING 12 3 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 0 1 0 DAVID SNODGRASS CEO AND PRESIDENT 507895 0 54201 0 664233 0 13500 0 16672 0 1256501 0 0 0 JANE KILE SR VP, MEMBER EXPERIENCE 244333 0 6052 0 11533 0 12216 0 15176 0 289310 0 0 0 KARA STUEWE EXEC VP FINANCE, TREASURY, & CORP SV 190799 0 4722 0 4485 0 10070 0 17532 0 227608 0 0 0 RAYNOR ZILLGITT SVP GENERAL COUNSEL 204778 0 5067 0 900 0 10597 0 14556 0 235898 0 0 0 JACK MARTIN SVP INFORMATION TECHNOLOGY 193063 0 24819 0 4569 0 10069 0 15810 0 248330 0 0 0 DIANA SCOTT SVP FINANCE 181833 0 4402 0 4780 0 9259 0 6140 0 206414 0 0 0 ANDREA MOSHER SVP CREDIT ADMINISTRATION 191006 0 4548 0 900 0 10073 0 18072 0 224599 0 0 0 GARRET SISCO VP MEMBER EXPERIENCE - OPERATIONS 175891 0 4094 0 4211 0 9243 0 16903 0 210342 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 4426535 0 1 1 JANE KILE CHIEF MEMBER EXPERIENCE OFFICER EXECUTIVE SERP LOAN X 2400000 2454540 0 1 1 BRIAN MCVEIGH FORMER SR VP, ADMIN, FIN + INTEL/CFO EXECUTIVE SERP LOAN X 1656006 1656006 0 1 1 8537081 FORM 990, PART VI, SECTION A, LINE 4 BOARD OF DIRECTORS SIZE DECREASED FROM 9 TO 7. 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 VP OF FINANCE, 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 EXECUTIVE COMMITTEE APPROVES COMPENSATION FOR CEO. CEO APPROVES COMPENSATION FOR SVPS, AND SVPS APPROVE COMPENSATION FOR VPS, WITH REVIEW BY HUMAN RESOURCES. COMPENSATION CONSULTANT PERFORMS COMPETITIVE MARKET SURVEYS. ALSO PERFORMANCE EVALUATION COMPLETED BY BOARD EXECUTIVE COMMITTEE FOR CEO AND BY CEO FOR SVPS AND BY SVPS FOR 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 -499,370. FORM 990, PART XII, LINE 2C THERE WERE NO CHANGES TO THE OVERSIGHT OR SELECTION PROCESS DURING THE YEAR. MEMBERS FINANCIAL SERVICES LLC 4605 S OLD US HIGHWAY 23 BRIGHTON MI 48114 364516718 INSURANCE AND FINANCIAL SERVICES MI 8711 162112 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 80779 CASH PAYMENT