2014-10-10T13:17:17-05:00 2013-12-31 381357951 PLANTE & MORAN PLLC 2601 CAMBRIDGE CT SUITE 500 AUBURN HILLS MI 48326 990 2013-01-01 381250516 CREDIT UNIONS CHARTERED IN THE STATE OF 222 LAKE TRUST CREDIT UNION CRED 5172677200 7927 NEMCO WAY NO 100 BRIGHTON MI 48116 BRIAN MCVEIGH SENIOR VP & CFO 5172677200 2014-10-10 1 LYNNE M HUISMANN P00053811 2483757100 2013 2015-11-30 17:44:51Z LAKE TRUST CREDIT UNION DAVID SNODGRASS 7927 NEMCO WAY NO 100 BRIGHTON MI 48116 220128044 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. 12 12 483 12 413793 -325271 0 0 76523136 73961923 4718806 6565269 809537 1044879 82051479 81572071 0 0 0 0 26296220 25751499 0 0 0 51419848 46452732 77716068 72204231 4335411 9367840 1562253286 1587017315 1409974035 1430461836 152279251 156555479 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 162,793 MEMBERS BY OFFERING LOANS, DEPOSITS, AND OTHER FINANCIAL PRODUCTS. 0 0 0 0 0 0 0 1 0 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 38676 0 1 483 1 1 1 0 0 0 0 0 X 12 12 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 0 1 1 1 0 X BRIAN MCVEIGH 5172677218 7927 NEMCO WAY BRIGHTON MI 48116 LAWRENCE LEHMAN DIRECTOR 10.00 X X 2790 0 0 SHANE LOVELETTE CHAIRPERSON 5.00 X X 2005 0 0 JAMES BONNER VICE CHAIRPERSON 5.00 X X 1556 0 0 RAY SEIDL TREASURER 10.00 X X 932 0 0 JAMES BARNES SECRETARY 4.00 X 724 0 0 KIMBERLY BISHOP DIRECTOR 4.00 X 0 0 0 PHILIP CZECH DIRECTOR 4.00 X 2777 0 0 RICK LABER DIRECTOR 4.00 X 3779 0 0 ROBERT PEPLOWSKI DIRECTOR 4.00 X 0 0 342 BERNICE SULLIVAN DIRECTOR 4.00 X 0 0 533 DENNIS TOCHMAN DIRECTOR 4.00 X 1497 0 0 FREDA VELZEN DIRECTOR 4.00 X 897 0 0 DAVID SNODGRASS CEO AND PRESIDENT 40.00 X 504402 0 40322 BRIAN MCVEIGH SR VP, ADMIN, FIN+INTEL/CFO 40.00 X 241444 0 33034 JANE KILE SR VP, STRATEGIC SVCS 40.00 X 221770 0 18603 RAYNOR ZILLGITT VP, GENERAL COUNSEL 40.00 X 187339 0 28689 KEVIN NEUGENT VP, INFORMATION TECHNOLOGY 40.00 X 184185 0 12954 CHARLES HENSLEY VP, LENDING 40.00 X 183480 0 15227 SHEILA COLLINS VP, RETAIL DELIVERY 40.00 X 170433 0 23333 SMARAGDA MOSS VP, HUMAN RESOURCES 40.00 X 167901 0 19243 STEPHEN WINNINGER FORMER CEO 0.00 X 111425 0 54 1989336 0 192334 21 1 1 0 PSCU 560 CARILLON PARKWAY ST PETERSBURG FL 33716 CREDIT, DEBIT & ATM CARD SERVICES 3645657 OPEN SOLUTIONS PO BOX 416564 BOSTON MA 02241 CORE SYSTEM PROVIDER 1179934 CU COOPERATIVE SYSTEMS 9692 HAVEN AVENUE RANCHO CUCAMONGA CA 91730 SERVICE CENTER & DR/ATM CARD TRANSACTION 917607 THE CHRISTMAN COMPANY 208 N CAPITAL AVENUE LANSING MI 48933 CONTRACTORS/CONSULTANTS 782624 PWB MARKETING COMMUNICATIONS 2723 SOUTH STATE STREET ANN ARBOR MI 48104 MARKETING SERVICES 542295 25 MEMBER LOAN INCOME 522100 55377885 55377885 FEE INCOME 522100 18584038 18584038 73961923 5186597 5186597 130105 83495 46610 46610 46610 133867000 5984150 134179331 4293147 -312331 1691003 1378672 1378672 INSURANCE INCOME 525990 688577 487137 201440 NON-MEMBER ATM INCOME 525990 212353 212353 MISCELLANEOUS REVENUE 525990 97339 97339 998269 81572071 79732996 413793 1425282 1156187 19447717 824075 2617748 1705772 343856 100003 104063 1448581 2633545 4273058 4170310 3910162 763039 519699 7141524 PROVISION FOR LOAN LOSS 7214056 DIVIDENDS AND INTEREST 6139738 LOAN SERVICING 3458038 NCUSIF PREMIUM 1086946 3146114 72204231 13110998 13360095 52633933 79322078 5089240 7911579 1006037603 1099281333 1470399 1584156 56865972 17749793 40374869 39116179 71123865 61234473 268117156 186346616 60779814 57275636 43515409 41585170 1562253286 1587017315 10989605 10026817 709014 304570 17176622 8054716 1381098794 1412075733 1409974035 1430461836 X 16560477 16560477 0 0 135718774 139995002 152279251 156555479 1562253286 1587017315 X 9367840 -5982764 891152 X X 0 1 X 1 0 0 1 X 10305034 10305034 28359357 6723252 21636105 333343 60486 272857 17868238 10966055 6902183 39116179 FEDERAL HOME LOAN BANK STOCK 5963800 F MORTGAGE BASED SECURITIES 131164029 F BANK CDS 10032243 F US GOVERNMENT & FEDERAL AGENCY SECURITIES 39186544 F 186346616 MEMBERS' SHARES AND SAVINGS ACCOUNTS 1412075733 1412075733 81558234 83502 83502 81474732 97339 97339 81572071 72190394 83502 83502 72106892 97339 97339 72204231 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 83,495. ROUNDING 7. PART XI, LINE 4B - OTHER ADJUSTMENTS: SERP ACCRUED INTEREST 97,339. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENT EXPENSE 83,495. ROUNDING 7. PART XII, LINE 4B - OTHER ADJUSTMENTS: SERP ACCRUED INTEREST 97,339. X 1 1 X X X X 1 1 0 DAVID SNODGRASS CEO AND PRESIDENT 482900 0 38 0 21464 0 21825 0 18497 0 544724 0 0 0 BRIAN MCVEIGH SR VP, ADMIN, FIN+INTEL/CFO 225140 0 6600 0 9704 0 11841 0 21193 0 274478 0 0 0 JANE KILE SR VP, STRATEGIC SVCS 205548 0 5941 0 10281 0 9647 0 8956 0 240373 0 0 0 RAYNOR ZILLGITT VP, GENERAL COUNSEL 180611 0 5423 0 1305 0 9511 0 19178 0 216028 0 0 0 KEVIN NEUGENT VP, INFORMATION TECHNOLOGY 178239 0 5400 0 546 0 4650 0 8304 0 197139 0 0 0 CHARLES HENSLEY VP, LENDING 177090 0 5100 0 1290 0 8846 0 6381 0 198707 0 0 0 SHEILA COLLINS VP, RETAIL DELIVERY 165083 0 4886 0 464 0 7292 0 16041 0 193766 0 0 0 SMARAGDA MOSS VP, HUMAN RESOURCES 160729 0 4350 0 2822 0 5591 0 13652 0 187144 0 0 0 STEPHEN WINNINGER FORMER CEO 110511 0 0 0 914 0 0 0 54 0 111479 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, LINES 4A-B PART I, LINES 4A-B: SEVERANCE PAYMENTS: KEVIN NEUGENT - $86,815 SMARAGDA MOSS - $40,247 DISTRIBUTIONS FROM EXECUTIVE SERP PLANS: STEPHEN L. WINNINGER - $75,000 DAVID SNODGRASS PRESIDENT & CEO EXECUTIVE SERP LOAN X 3928234 4025573 0 1 1 BRIAN MCVEIGH SR VP, ADMIN, FIN + INTEL/CFO EXECUTIVE SERP LOAN X 1326006 1326006 0 1 1 STEPHEN WINNINGER FORMER OFFICER EXECUTIVE SERP LOAN X 2560000 2560000 0 1 1 7911579 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 11 FORM 990 IS REVIEWED BY VP OF FINANCE, SENIOR VP ADMINISTRATION, FINANCE + INTELLIGENCE & CFO, AND THE BOARD TREASURER/AUDIT COMMITTEE CHAIR, PRIOR TO FILING THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C DIRECTORS ANNUALLY COMPLETE 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 (LAST UPDATE WAS IN JULY 2011). 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 891,152. FORM 990, PART XII, LINE 2C THERE WERE NO CHANGES TO THE OVERSIGHT OR SELECTION PROCESS DURING THE YEAR. MEMBERS FINANCIAL SERVICES LLC 15800 NORTH HAGGERTY PLYMOUTH MI 48170 364516718 INSURANCE AND FINANCIAL SERVICES MI 9477 126925 LAKE TRUST CREDIT UNION