Lake Trust Credit Union is a member-owned financial cooperative serving Michigan residents and businesses. Founded on principles of community support and financial wellbeing, the organization operates multiple relationship centers throughout Michigan and provides 24/7 digital banking access. The credit union emphasizes local decision-making and reinvestment in member communities through scholarships, business microloans, and community development initiatives.
Lake Trust offers comprehensive banking services including checking and savings accounts, certificates of deposit (CDs with 3-72 month terms), personal loans, auto financing with pre-approval options, home mortgages, home equity loans with green lending discounts for energy-efficient upgrades, and small business lending. They provide skip-a-pay and life impact loan programs for members facing financial hardship, educational resources through a Financial Wellbeing Library, and financial planning services through their Financial Life Planning team. Members also gain access to Michigan-based Members Home and Auto insurance professionals.
What distinguishes Lake Trust is its explicit focus on financial education and community impact. The organization provides free financial calculators for retirement planning, savings goals, home budgeting, and auto loan payments. They actively support small business through microloans, offer university and trade school scholarships, and publish annual impact reports documenting community initiatives.
The credit union positions itself as a "trusted partner" emphasizing member security with fraud warnings and local relationship centers. As a credit union, Lake Trust operates on a not-for-profit member-owned model, which typically offers lower fees and competitive rates compared to traditional banks. However, the website provides limited specific information about interest rates, APRs, or fee structures.
Members must be in Michigan to access relationship centers, though online and mobile banking is available. The organization experienced scheduled maintenance windows, indicating ongoing technology management.
