Lake Trust Credit Union is headquartered in Brighton and is the 8th largest credit union in the state of Michigan. It is also the 170th largest credit union in the nation. It was established in 1944 and as of June of 2024, it had grown to 463 employees and 177,077 members at 23 locations. Lake Trust Credit Union has a B+ health rating.
Field of Membership Restrictions
Membership in Lake Trust Credit Union is open to anyone who lives, works, worships, or attends school in Michigan.
See current membership details
DO NOT Trust Lake Trust
I wish I could give them negative stars. I had a savings account with Lake Trust. I was saving the money and not touching it. I got a letter yesterday letting me know they escheated the funds to the state of Michigan. I called and they said that because I haven't touched the funds in 3 years, they "BY LAW' have to send them to the state of Michigan and now I have to go to the states unclaimed property and claim it before they liquidate the funds. THEY LIED AND ITS NOT MANDATORY. If you plan to save any money and tuck it away DO NOT USE LAKE TRUST....
Data as of Q2 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 62047 |
| Year Chartered | 1944 |
| Employees | 463 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.47% |
| Return on Equity - YTD | 5.53% |
| Annual Interest Income | $55.6MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $2.66B$2.59B |
| Loans | Q2 2024vs Q2 2023 | $1.93B$1.85B |
| Deposits | Q2 2024vs Q2 2023 | $2.32B$2.3B |
| Equity Capital | Q2 2024vs Q2 2023 | $227.1MM$208.7MM |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $21.3MM$21.3MM |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $16.7MM$14.3MM |
| Real Estate Owned | Q2 2024vs Q2 2023 | $17K$81K |
