Lake Trust Credit Union

What Lake Trust Credit Union does

Lake Trust Credit Union is a not-for-profit, member-owned cooperative financial institution headquartered in Brighton, Michigan, serving approximately 200,000 members and businesses across the state. Founded in 1944 and federally insured by the NCUA, the credit union operates under a community charter and delivers a full-service retail and commercial banking platform organized around Personal Banking, Business Banking, Borrowing, and Financial Life Planning. Core products span checking, savings and CD accounts, debit and credit cards (including the Platinum Elite Rewards card), vehicle loans, home loans, personal and student loans, business loans, real estate loans, and small business microloans under $50,000, complemented by specialty offerings such as Green Lending and the Life Impact Loan.

The credit union distributes through proprietary relationship centers across Brighton (HQ), DeWitt, Okemos, Lansing (Downtown and West Saginaw), Detroit, Hastings and additional Michigan communities, alongside iOS and Android mobile apps, online banking, ATMs, video teller machines, and the Co-op Shared Branch network that provides nationwide in-network access. The platform stack is a conventional digital banking architecture with member-self-service loan applications and payments rather than a proprietary tech moat. Revenue is generated primarily through net interest income on loans (auto, home, personal, business, credit card), deposit account fees and interchange, credit card points-based rewards revenue, and fees from investment, insurance referral, and Financial Life Planning services including the newly launched Lake Trust Legacy wills-and-trusts offering.

The credit union augments its commercial activity with a wholly-owned nonprofit foundation (501(c)(3)) that distributes grants, scholarships, and community impact funding - including the Foundation Raffle and annual Powered by Good Day community service event - and has scaled historically through M&A, notably acquiring Huron River Area Credit Union (2007) and merging with NuUnion Credit Union (2010). No public revenue or AUM disclosure is available, and Lake Trust operates without parent company, PE/VC backers, or external shareholders under cooperative ownership.

Name

Lake Trust Credit Union

Legal name

Lake Trust Credit Union

Website

https://laketrust.org

Company type

Private

Founded year

1984

Operating status

Operating

Headcount range

251–500 employees

Short description

Lake Trust Credit Union is a not-for-profit, NCUA-insured cooperative headquartered in Brighton, Michigan, serving roughly 200,000 members statewide with full-service personal and business banking, consumer and commercial lending, and financial life planning delivered through relationship centers, digital channels, and the Co-op Shared Branch network.

Ownership category

akta.pro rank

Product category

Credit Union Banking

NAICS

Credit Unions (52213), Credit Unions (522130), Depository Credit Intermediation (5221)

SIC

Personal Credit Institutions (6141), Finance Services (6199)

akta.pro primary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

Keywords

• Retail banking services
• Consumer lending
• Commercial banking
• Financial life planning
• Community credit union

Headquarters

HQ city

Brighton

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Interest Income from Lending: Lake Trust generates revenue primarily through interest earned on loans including vehicle loans, home loans, personal loans, business loans, and credit cards. The credit union offers various lending products with promotional discounts for members.
2. Deposit Account Fees and Services: Revenue from checking accounts, savings accounts, CDs, and related banking services with associated fee schedules for various account services.
3. Credit Card Revenue: Income from Platinum Elite Rewards credit card including interchange fees and interest charges, with points redemption functionality.
4. Financial Life Planning Services: Revenue from investment products (bonds, stocks, IRAs, annuities), insurance referrals, and planning services.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels7 records

Core offering

Lake Trust Credit Union is a Michigan-based not-for-profit cooperative financial institution offering personal and business banking, consumer and commercial lending, credit cards, and financial life planning services. Products include checking and savings accounts, certificates of deposit (CD Plus, Aspire Savings), vehicle, home, personal, student, life impact, green, business, micro, and real estate loans, a Platinum Elite Rewards credit card, and investment and insurance products. Distribution is through physical relationship centers, online and mobile banking, ATMs, video teller machines, and the Co-op shared branch network, serving nearly 200,000 Michigan members.

Product overview

Lake Trust Credit Union offers a comprehensive suite of financial products and services organized around personal banking, business banking, borrowing, and financial life planning. The core offerings include checking and savings accounts, credit cards, and online/mobile banking as the foundational services, supplemented by various lending products (vehicle loans, home loans, personal loans, student loans, business loans, and microloans) and specialized products (Green Lending, Life Impact Loan). The financial life planning division provides retirement planning, estate planning through Lake Trust Legacy, and investment services. The credit union also operates a foundation that supports Michigan communities through grants, scholarships, and an annual service day (Powered by Good Day), plus offers a raffle program with proceeds supporting community initiatives.

Differentiator

Problem solved

Functional benefit

Brands

• Lake Trust Legacy: Will and trust planning service helping members protect their assets and protect what they love.
• Lake Trust Entrepreneurship Institute
• Mixer Media
• Aspire Savings
• CD Plus
• Members Home and Auto
• Lake Trust Financial Life Planning
• Lake Trust Foundation Raffle

Products and services

• Personal Banking Core banking services for individuals including checking accounts, savings accounts, CD accounts, debit cards, and credit cards, available to Michigan residents who become members of the credit union.
• Business Banking Comprehensive banking solutions for Michigan businesses including checking, savings, CDs, credit cards, treasury services, and business digital solutions for startups through established companies.
• Vehicle Loans Auto lending options for purchasing new or used vehicles, with member discounts of up to 0.50% APR for primary members in good standing.
• Home Loans Mortgage and home financing products including purchase and refinance options with 0.25% rate discount for members with qualifying $400+ ACH direct deposit.
• Personal Loans Flexible fixed-rate installment financing for debt consolidation or large purchases, available to Lake Trust personal members.
• Student Loans Education financing options for students and families covering tuition and educational expenses, offered through Lake Trust's borrowing line.
• Life Impact Loan Specialized loan product designed to help members during significant life events or transitions, including the TruStage Life Impact Loan claim service.
• Green Lending Eco-friendly lending options supporting sustainable choices including solar panels and energy-efficient home upgrades for Lake Trust members.
• Small Business Microloans Business loans under $50,000 designed to help Michigan entrepreneurs start or grow small businesses, including those accessing community grants such as Motor City Match.
• Business Loans Comprehensive commercial lending solutions for Michigan businesses of various sizes covering working capital, expansion, and equipment financing.
• Real Estate Loans Commercial real estate financing for business property purchases, development, and investment by Lake Trust business members.
• Financial Life Planning Holistic financial planning services including retirement planning, college planning, estate planning, investing guidance, and insurance products for individuals and families.
• Lake Trust Legacy Wills and trusts creation service providing estate planning resources to help Lake Trust members protect their assets and loved ones.
• Aspire Savings High-yield savings account offering 3.00% APY on the first $5,000 in the account to help members build emergency funds faster; standard rates apply above the $5,000 balance.
• CD Plus Certificate of deposit product available in 7-, 13-, or 25-month terms with competitive rates for Lake Trust personal members.
• Online and Mobile Banking Digital banking platform with iOS and Android apps enabling members to manage accounts, view transactions, transfer funds, and pay bills 24/7.
• Platinum Elite Rewards Credit Card Credit card offering point-based rewards with the ability to pay with points or checkout with points on purchases, available to Lake Trust personal members.
• Lake Trust Foundation 501(c)(3) nonprofit foundation enhancing wellbeing in Michigan communities through grants, donations, scholarships, and community support programs.
• Lake Trust Entrepreneurship Institute Program supporting Michigan entrepreneurs with resources, networking opportunities, and business development assistance.
• Mixer Media Business media services offering complimentary 30-minute consultations for Lake Trust business members on video production and content creation.

Quantifiable outcome

• $20K in small business grants awarded to Bleu Bowtique and Craig's Coffee through FHLBank Elevate program
• +2 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Federal Home Loan Bank of Indianapolis (FHLBank)coreStrategic or Co-development Partner · 9 October 2025Lake Trust partners with FHLBank Indianapolis to nominate small business members for the Elevate Small Business Grant Program. Bleu Bowtique and Craig's Coffee each received $10,000 grants in 2025. The partnership supports Michigan small business growth through grants for facility expansions, equipment upgrades, and workforce development. Lake Trust has supported multiple members through this program over the years.
• Motor City MatchcoreStrategic or Co-development Partner · 1 January 2023Motor City Match is a Detroit grant program supporting local entrepreneurs. Craig's Coffee was a 2022 recipient, and Lake Trust matched this grant with a Small Business Microloan, enabling the business to develop its Midtown Detroit coffee bar and purchase roasting equipment.
• Allen Neighborhood CentercoreStrategic or Co-development PartnerLake Trust partners with Allen Neighborhood Center in Lansing through The Maker Kitchen, a food business incubator. Marcus Leslie of Mr. Leslie's Cheesecakes accessed this collaborative space with support from Lake Trust, benefiting from workshops on business development, food safety, and financial management.
• Co-op NetworkcoreChannel Partner/ Reseller/ DistributorCo-op Network provides shared branching services allowing Lake Trust members to access their accounts at thousands of credit unions nationwide. This partnership extends Lake Trust's physical service reach without requiring proprietary branch expansion.
• Members Home and Auto (Members Bridge)minorChannel Partner/ Reseller/ DistributorPartnership with Members Home and Auto insurance for referral of members seeking property and casualty coverage. Lake Trust promotes this insurance partner to members seeking auto and home insurance protection.
• TruStageminorChannel Partner/ Reseller/ DistributorTruStage provides credit union member insurance products including the Life Impact Loan claim service referenced in Lake Trust borrowing resources.

Scale indicators9 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Financial Plus Credit Union: Michigan community credit union providing consumer lending, deposits, and small-business services, comparable in product set and member-owned cooperative model.
• DFCU Financial: Michigan-headquartered community credit union offering personal and business banking, lending, and digital channels comparable to Lake Trust's product suite and member focus.
• Michigan State University Federal Credit Union: Large Michigan-based credit union with full personal/business banking, lending, and digital capabilities; comparable on product suite and Michigan market presence, though larger in scale.
• ELGA Credit Union: Michigan community credit union offering personal and business banking with community focus, directly comparable in size and product mix to Lake Trust.
• Consumers Cooperative Credit Union: Michigan community credit union with consumer and small-business banking products, directly comparable in size, geography, and member-owned cooperative structure.
• Genisys Credit Union: Michigan-based community credit union with consumer and business lending, branches across the state, and community programs, directly comparable in scale and product mix.
• Lake Michigan Credit Union: Largest credit union in Michigan with a similarly broad retail/business product set, serving overlapping Michigan geography; directly comparable on community credit union model, member-first positioning, and product breadth.
• Frankenmuth Credit Union: Michigan community credit union offering personal, business, and mortgage lending plus financial planning — closely matches Lake Trust's product breadth and community-bank-of-choice positioning.
• Catholic Federal Credit Union: Michigan community credit union with consumer and business banking products, comparable in size, geography, and community orientation.

Broad incumbents

• Huntington Bancshares: Large regional bank with deep Michigan presence offering consumer, business, and small-business banking; not a direct credit-union peer but a major competitive overlap in Lake Trust's core Michigan market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/laketrust
• Facebookfacebook.com/LakeTrustCreditUnion
• LinkedInlinkedin.com/company/lake-trust-credit-union
• Instagraminstagram.com/laketrust

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lake Trust Credit Union