2016-10-14T07:41:43-05:00 2015-12-31 381357951 PLANTE & MORAN PLLC 2601 CAMBRIDGE CT SUITE 500 AUBURN HILLS MI 48326 990 2015-01-01 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 2016-10-10 1 LYNNE M HUISMANN P00053811 2483757100 2015 2017-02-10 21:41:12Z LAKE TRUST CREDIT UNION DAVID SNODGRASS 4605 S OLD US HIGHWAY 23 BRIGHTON MI 48114 96626086 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. 11 11 475 11 270494 -196001 0 0 72748362 72538653 4827487 2662958 931529 1102432 78507378 76304043 0 10000 0 0 25951053 25624354 0 0 0 43673681 45468881 69624734 71103235 8882644 5200808 1589835396 1680739543 1423103776 1509100243 166731620 171639300 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 171,628 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 90646 0 1 475 1 1 1 0 0 0 0 0 X 11 11 0 0 0 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 CHAIRPERSON 10.00 X X 3894 0 0 JAMES BONNER VICE CHAIRPERSON 5.00 X X 2939 0 0 RAY SEIDL TREASURER 10.00 X X 0 0 0 JAMES BARNES SECRETARY 5.00 X X 0 0 0 KIMBERLY BISHOP DIRECTOR 4.00 X 0 0 0 PHILIP CZECH DIRECTOR 4.00 X 3046 0 0 RICK LABER DIRECTOR 4.00 X 3868 0 0 ROBERT PEPLOWSKI DIRECTOR 4.00 X 0 0 0 BERNICE SULLIVAN DIRECTOR 4.00 X 696 0 0 DENNIS TOCHMAN DIRECTOR 4.00 X 2901 0 0 FREDA VELZEN DIRECTOR 4.00 X 2828 0 0 DAVID SNODGRASS CEO AND PRESIDENT 40.00 X 598029 0 24689 BRIAN MCVEIGH SR VP, ADMIN, FIN+INTEL/CF 40.00 X 264517 0 25286 JANE KILE SR VP, MEMBER EXPERIENCE 40.00 X 253614 0 18348 DANIELLE BREHMER SR VP, BRAND, STRATEGY + CULTURE 40.00 X 216255 0 10815 RAYNOR ZILLGITT VP GENERAL COUNSEL 40.00 X 204139 0 22969 KARA STUEWE VP TREASURY 40.00 X 195115 0 21768 JACK MARTIN VP INFORMATION TECHNOLOGY 40.00 X 192463 0 22692 SHEILA COLLINS VP MEMBER EXPERIENCE 40.00 X 189185 0 21600 DIANA SCOTT VP FINANCE 40.00 X 178204 0 12674 STEPHEN WINNINGER FORMER CEO 0.00 X 573176 0 0 2884869 0 180841 26 1 1 0 PSCU 560 CARILLON PARKWAY ST PETERSBURG FL 33716 CREDIT, DEBIT & ATM CARD SERVICES 4481304 FISERV PO BOX 416564 BOSTON MA 02241 CORE SYSTEM PROVIDER 1671842 CU COOPERATIVE SYSTEMS 9692 HAVEN AVENUE RANCHO CUCAMONGA CA 91730 SERVICE CENTER & DR/ATM CARD TRANSACTION 898896 SYNERGI MEDIA LLC 7754 CREEK RUN ZEELAND MI 49464 ADVERTISING SERVICES 766750 IDSCOM 747 E WHITCOMB AVENUE MADISON HEIGHTS MI 48071 PROCESSING & MAILING OF NOTICES & STATEM 614257 26 MEMBER LOAN INCOME 522100 53833765 53833765 FEE INCOME 522100 18704888 18704888 72538653 3434306 3434306 107845 88638 19207 19207 19207 17492000 1970057 17433851 2799554 58149 -829497 -771348 -771348 INSURANCE INCOME 525990 913098 812731 100367 NON-MEMBER ATM INCOME 525990 170127 170127 1083225 76304043 76785690 270494 -752141 10000 1431727 18963907 818262 2764713 1645745 322314 100000 104640 2421347 2273682 4533840 5005243 4627047 731834 1907147 6795741 PROVISION FOR LOAN LOSS 5675450 DIVIDENDS AND INTEREST 3711486 LOAN SERVICING 3572328 ATM SERVICE AND OPERATI 1927056 1759726 71103235 14308231 11751167 51510010 87901176 8493209 5877142 1173345267 1239740759 1897129 2029014 92043410 21933630 48322356 70109780 42932433 32065373 155056373 125222278 53771458 50267281 40198930 55775573 1589835396 1680739543 11584546 8586661 380596 635208 2003589 26000000 1409135045 1473878374 1423103776 1509100243 X 16560477 16560477 0 0 150171143 155078823 166731620 171639300 1589835396 1680739543 X 5200808 -1380359 1087231 X X 0 1 X 1 0 0 1 X 10982774 10982774 59387810 9960955 49426855 293722 183571 110151 21379104 11789104 9590000 70109780 FEDERAL HOME LOAN BANK STOCK 4453100 F MORTGAGE BASED SECURITIES 94906192 F BANK CDS 10941427 F US GOVERNMENT & FEDERAL AGENCY SECURITIES 14921559 F 125222278 MEMBERS' SHARES AND SAVINGS ACCOUNTS 1473878374 1473878374 76392681 88638 88638 76304043 0 76304043 71191873 88638 88638 71103235 0 71103235 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 88,638. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENT EXPENSE 88,638. 1 LAKE TRUST CREDIT UNION FOUNDATION 4605 S OLD US HIGHWAY 23 BRIGHTON MI 48114 455332078 501(C)(3) 10000 COMMUNITY ASSISTANCE 1 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. X 1 1 X X X 0 1 0 DAVID SNODGRASS CEO AND PRESIDENT 471299 0 116255 0 10475 0 13250 0 11439 0 622718 0 0 0 BRIAN MCVEIGH SR VP, ADMIN, FIN+INTEL/CF 248059 0 5708 0 10750 0 13001 0 12285 0 289803 0 0 0 JANE KILE SR VP, MEMBER EXPERIENCE 237510 0 5354 0 10750 0 10000 0 8348 0 271962 0 0 0 DANIELLE BREHMER SR VP, BRAND, STRATEGY + CULTURE 201606 0 3899 0 10750 0 10261 0 554 0 227070 0 0 0 RAYNOR ZILLGITT VP GENERAL COUNSEL 198732 0 4582 0 825 0 10341 0 12628 0 227108 0 0 0 KARA STUEWE VP TREASURY 181543 0 12747 0 825 0 9898 0 11870 0 216883 0 0 0 JACK MARTIN VP INFORMATION TECHNOLOGY 187318 0 4320 0 825 0 9804 0 12888 0 215155 0 0 0 SHEILA COLLINS VP MEMBER EXPERIENCE 184145 0 4215 0 825 0 9610 0 11990 0 210785 0 0 0 DIANA SCOTT VP FINANCE 173467 0 3912 0 825 0 8000 0 4674 0 190878 0 0 0 STEPHEN WINNINGER FORMER CEO 0 0 0 0 573176 0 0 0 0 0 573176 0 573176 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 BRIAN MCVEIGH STEPHEN WINNINGER - AMOUNT PAID $573,176 DAVID SNODGRASS PRESIDENT & CEO EXECUTIVE SERP LOAN X 3928234 4221136 0 1 1 BRIAN MCVEIGH SR VP, ADMIN, FIN + INTEL/CFO EXECUTIVE SERP LOAN X 1656006 1656006 0 1 1 5877142 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, 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 1,087,231. 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 8790 144870 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 LAKE TRUST CREDIT UNION 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0