2020-11-11T11:55:29-06:00 2019-12-31 381357951 PLANTE & MORAN PLLC 2601 CAMBRIDGE CT STE 500 AUBURN HILLS MI 48326 990 2019-01-01 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 2020-11-03 1 LYNNE M HUISMANN P00053811 2483757100 2020-10-27 68.34.66.206 2020-11-03 08:16:33 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 3BA07AC1E7B37A4123F7B0FAF00AF3DF039E44A3 2019 2021-04-22 16:20:28Z LAKE TRUST CREDIT UNION DAVID SNODGRASS 4605 S OLD US HIGHWAY 23 BRIGHTON MI 48114 174357170 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 10 511 10 270748 -363927 0 334000 80934425 86909557 7683085 5666468 1292227 2823149 89909737 95733174 203218 266774 0 0 32038211 34911268 0 0 0 46763795 51208290 79005224 86386332 10904513 9346842 1860352431 1917932508 1667669892 1713055875 192682539 204876633 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 176,322 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 1 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 1 97814 0 1 511 1 1 1 0 0 0 0 0 0 0 X 10 10 0 0 0 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 DAVID SNODGRASS CEO AND PRESIDENT 40.00 0.50 X 702094 0 336968 JANE KILE CHIEF MEMBER EXPERIENCE OFFICER 40.00 0.50 X 291673 0 32292 KARA STUEWE EXVP-FINANCE, TREASURY & CORP SVCS 40.00 0.00 X 237718 0 33771 RAYNOR ZILLGITT SVP, GEN COUNSEL 40.00 0.50 X 234779 0 28762 JACK MARTIN SVP, INFO TECH 40.00 0.00 X 223408 0 31557 ANDREA MOSHER SVP, CREDIT ADMINISTRATION 40.00 0.00 X 211327 0 33606 GARRET SISCO SVP, MEMBER EXPERIENCE 40.00 0.00 X 210905 0 33473 JAMES SARVER SVP, FINANCIAL LIFE PLANNING 40.00 0.00 X 195493 0 22742 KATHRYN RUSAK DIRECTOR 4.00 0.00 X 8202 0 0 MICHAEL SOLO DIRECTOR 4.00 0.00 X 6239 0 0 DENNIS TOCHMAN CHAIRPERSON 10.00 0.00 X X 5788 0 0 JAMES BONNER DIRECTOR 4.00 0.00 X 3223 0 0 SHANE LOVELLETTE DIRECTOR 4.00 0.00 X 2900 0 0 AARON SEYBERT DIRECTOR 4.00 0.00 X 2652 0 0 RAY SEIDL TREASURER 10.00 0.00 X X 2625 0 0 JAMES BARNES SECRETARY 5.00 0.00 X X 1473 0 0 RICK LABER VICE CHAIRPERSON 4.00 0.00 X X 1454 0 0 PHILIP SANTER DIRECTOR 4.00 0.00 X 773 0 0 2342726 0 553171 40 0 1 0 FISERV 255 FISERV DR BROOKFIELD WI 53045 CORE SYSTEM PROVIDER 3131115 PSCU 560 CARILLON PARKWAY ST PETERSBURG FL 33716 CREDIT, DEBIT & ATM CARD SERVICES 1624022 THE CHRISTMAN COMPANY 208 N CAPITOL AVENUE LANSING MI 48933 CONTRACTORS/CONSULTANTS/ARCHITECTS 1218937 CU COOPERATIVE SYSTEMS 9692 HAVEN AVENUE RANCHO CUCAMONGA CA 91730 SERVICE CENTER & DR/ATM CARD TRANSACTION 991710 DOXIM 747 E WHITCOMB AVENUE MADISON HEIGHTS MI 48071 PROCESSING & MAILING OF NOTICES & STATEM 632528 27 334000 334000 MEMBER LOAN INCOME 522100 64217672 64217672 FEE INCOME 522100 22691885 22691885 86909557 5632098 5620731 11367 55133 55133 32260 46366 -14106 -14106 -14106 78319000 293000 78015729 561901 303271 -268901 34370 34370 LIFE INSURANCE PROCEED 524113 1550162 1550162 INSURANCE INCOME 525990 1048881 972579 76302 NON-MEMBER ATM INCOME 525990 183079 183079 2782122 95733174 93502867 270748 1625559 254274 12500 1669846 25497396 824941 4929059 1990026 184059 105000 70825 1360997 1998582 6336692 5055453 5462714 792704 1644864 6059303 DIVIDENDS AND INTEREST 7420078 PROVISION FOR LOAN LOSS 6190893 ATM SERVICE AND OPERATI 4767502 LOAN SERVICING 2861943 896681 86386332 13331200 11589667 58816249 79284054 8698789 11948613 1457686976 1486786470 3041504 3093578 97816439 32307225 61134259 65509214 17248274 12911027 144679370 147752700 40514035 37628537 55201775 61428648 1860352431 1917932508 10605426 9630107 150687 265442 37000000 30000000 1619913779 1673160326 1667669892 1713055875 X 16560477 16560477 0 0 176122062 188316156 192682539 204876633 1860352431 1917932508 X 9346842 2870781 -23529 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 10853200 10853200 55773809 11534429 44239380 3726026 1805798 1920228 27463404 18966998 8496406 65509214 FEDERAL HOME LOAN BANK STOCK 4453100 F MORTGAGE BASED SECURITIES 83932846 F BANK CDS 8000000 F US GOVERNMENT & FEDERAL AGENCY SECURITIES 35108030 F RATED MUNICIPAL INSTRUMENTS 16258724 F 147752700 MEMBERS' SHARES AND SAVINGS ACCOUNTS 1673160326 1673160326 95779540 46366 46366 95733174 0 95733174 86432698 46366 46366 86386332 0 86386332 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 46,366. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 46,366. 1 LAKE TRUST CREDIT UNION FOUNDATION 4605 S OLD US HIGHWAY 23 BRIGHTON MI 48114 455332078 501(C)(3) 104074 COMMUNITY ASSISTANCE IMPRESSION 5 SCIENCE CENTER 200 MUSEUM DRIVE LANSING MI 48933 237200548 501(C)(3) 20000 SPONSORSHIP OF TRAVELING MUSEUM EXHIBIT MICHIGAN PGA CORPORATION 15600 CHANDLER RD BATH MI 48808 382005146 15000 SPONSORSHIP OF 2019 MICHIGAN OPEN HOWELL MAINSTREET DDA 122 STATE ST HOWELL MI 48843 812891619 170(C)(1) 10000 FUNDING FOR RENTAL SUBSIDY PROGRAM GREATER LANSING AREA MLK HOLIDAY COMM PO BOX 24112 LANSING MI 48909 352405362 501(C)(3) 10000 DIVERSITY PARTNERSHIP BOUNTIFUL HARVEST INC 290 E GRAND RIVER BRIGHTON MI 48116 461749889 501(C)(3) 10000 COMMUNITY REINVESTMENT SPONSORSHIP & CONTRIBUTION MICHIGAN CHAMBER OF COMMERCE 600 S WALNUT ST LANSING MI 48933 381626029 501(C)(6) 10000 MCF WOMEN IN INDUSTRY SPONSORSHIP LANSING CENTER 333 E MICHIGAN AVE LANSING MI 48933 383280174 7000 SILVER BELLS SPONSORSHIP GREATER LANSING FOOD BANKS PO BOX 16224 LANSING MI 48901 382424756 501(C)(3) 6100 VARIOUS SPONSORSHIPS LACASA 2895 W GRAND RIVER AVE HOWELL MI 48843 382370824 501(C)(3) 6100 SPONSORSHIP GLEANERS COMMUNITY FOOD BANK 2131 BEAUFAIT DETROIT MI 48207 382156255 501(C)(3) 6000 MATCHING FOOD GIFTS 8 3 ANN ARBOR SPARK BOOTCAMP AWARD 1 12500 0 N/A N/A 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 561690 0 116471 0 23933 0 315682 0 21286 0 1039062 0 0 0 JANE KILE CHIEF MEMBER EXPERIENCE OFFICER 269524 0 9916 0 12233 0 14073 0 18219 0 323965 0 0 0 KARA STUEWE EXVP-FINANCE, TREASURY & CORP SVCS 217365 0 8120 0 12233 0 11558 0 22213 0 271489 0 0 0 RAYNOR ZILLGITT SVP, GEN COUNSEL 225625 0 8254 0 900 0 11713 0 17049 0 263541 0 0 0 JACK MARTIN SVP, INFO TECH 214479 0 8029 0 900 0 11408 0 20149 0 254965 0 0 0 ANDREA MOSHER SVP, CREDIT ADMINISTRATION 202947 0 7480 0 900 0 10820 0 22786 0 244933 0 0 0 GARRET SISCO SVP, MEMBER EXPERIENCE 202785 0 7220 0 900 0 10787 0 22686 0 244378 0 0 0 JAMES SARVER SVP, FINANCIAL LIFE PLANNING 188039 0 6554 0 900 0 6473 0 16269 0 218235 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 6928234 7725868 0 1 1 JANE KILE CHIEF MEMBER EXPERIENCE OFFICER EXECUTIVE SERP LOAN X 2400000 2566739 0 0 1 BRIAN MCVEIGH FORMER SR VP, ADMIN, FIN + INTEL/CFO EXECUTIVE SERP LOAN X 1656006 1656006 0 0 1 11948613 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, 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 -23,529. 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 10632 182446 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 104074 CASH PAYMENT