Letter from the CEO

It is with great pleasure that I present our Annual Impact Report, which details the remarkable impact Lake Trust Credit Union delivered throughout the last twelve months. Our dedication to making a true difference in Michigan communities continues at the heart of all we do. I am extremely pleased to see the concrete results of our dedication to improving the communities we serve, which is always our first priority.

Our partnership with Habitat for Humanity of Michigan and Mortgage Center created a new program, the Lake Trust Habitat for Humanity Loan. This specific product was developed to address homeownership hurdles by considering factors beyond credit scores in the underwriting process. Lake Trust’s advocacy in collaboration with Habitat for Humanity of Michigan led to the State of Michigan allocating $10 million to the nonprofit, making homeownership more accessible for many families. Lake Trust was selected as Habitat for Humanity Advocate of the Year for our commitment to this cause.

Another significant initiative we spearheaded was the Downtown Brighton Small Business Relief Fund. In response to the challenges faced by local businesses due to construction in Downtown Brighton, the Lake Trust Foundation partnered with the Greater Brighton Area Chamber of Commerce to provide support. The fund allowed impacted businesses to apply for grants to cover various needs, with Lake Trust committing $24,000 toward this cause. Our crowdfunding campaign also encouraged community involvement to further support these small businesses during a challenging time.

I am particularly moved by the combined efforts of Lake Trust members, team members, and the Foundation in donating $25,000 to MSU's Spartan Strong Fund, created to support students and staff affected by a tragic event on campus. By encouraging our members to participate through Lake Trust transactions, we donated 25 cents per transaction to the Spartan Strong Fund and were able to make a meaningful contribution to aiding and supporting those in need. Our commitment to community and solidarity truly shines through in moments like these.

As we reflect on the past year's achievements, our dedication to community involvement and advocacy work has had a lasting effect on those we serve. I am proud to lead a team that is deeply committed to making an impact, and I am profoundly grateful for your continued support as we strive to create positive change in the world around us.

Thank you to our members, team, and community partners for your continued support. Together, we made each story in this report possible. We made a bigger impact in Michigan. And helped more people start a new chapter. All by channeling the power in all of us.

David C. Snodgrass
President & CEO