Lake Trust Credit Union


Overview / Commentary
888-267-7200
4605 S Old Us Highway 23
Brighton, MI 48114

Lake Trust Credit Union is headquartered in Brighton and is the 8th largest credit union in the state of Michigan. It is also the 172nd largest credit union in the nation. It was established in 1944 and as of March of 2024, it had grown to 470 employees and 181,214 members at 23 locations. Lake Trust Credit Union's money market rates are 8X the national average, and it 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

Lake trust is the best!

I have a free checking and savings accounts from Lake Trust Credit Union. I have access to online banking and online bill payment. I really like this credit union! I recommend it to all my friends and family. Their employees are exceptional and have given me wonderful assistance whenever I have had questions.

My experience with Lake Trust Credit Union.

Posted by: |

I have dealt with this Credit Union for along time. They used to be called Huron River Credit Union. I have had Savings and checking accounts with them. The customer service is wonderful and they are very nice and talk to you about your day and ask you things like, (how are you today sir or mam?), Other things stand out also. Once I was having a bad day and the Teller could really tell after they had asked me how my day was going. I guess I just needed someone to talk to and they listened and I tell you my day was much better after that! My experience with the website at the time was not the best. I guess it was the way that it was set up the confused me. I also was not that internet savy at the time too. They offer a reasonable rates and fee's also. I would recommend this institution to anyone!

Lake Trust Takeovers

Posted by: |

I was a member of Huron River Area Credit Union, then Detroit Edison Credit Union and finally Lake Trust Credit Union for over 10 years.  Not their best customer or their worst and admittedly I didn't make a lot of use of the "member services" during my time with them.  What I did appreciate was the friendly small-town customer service, low fees or no fees or charges for things like money orders, statements or bank checks.  That all changed when Lake Trust took over last year.  Their fee schedule now rivals that of any of the "big mean banks" with $10 bank checks, $5 - $15 transfer fees from checking, and $29 overdraft fees for even a few cents.  Programs they used to have in place to help their customers work through financial issues are a thing of the past.  While the branch customer service remains friendly, woe be unto you if you have to deal with anyone at the main branch.  I see all these credit union commercials all the time about how you're a "member" not a "number".  I can tell you that I most assuredly was nothing more than a number to Lake Trust and I have heard similar statements from other customers.  As a matter of fact, when I opened my account in 2001, it was on the recommendation of several co-workers and friends.  I am the only one left - everyone else moved to other credit unions or banks years ago.

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....

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Health
B+

Health Grade Components

Overall
NCUA #62047
Year Chartered1944
Employees470
Primary Regulator
Profit Margin
Return on Assets - YTD0.34%
Return on Equity - YTD4.07%
Annual Interest Income$27MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$2.67B$2.63B
LoansQ1 2024vs Q1 2023$1.92B$1.85B
DepositsQ1 2024vs Q1 2023$2.32B$2.34B
Equity CapitalQ1 2024vs Q1 2023$221.6MM$207.5MM
Loan Loss AllowanceQ1 2024vs Q1 2023$21.3MM$21.9MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$15.9MM$12.1MM
Real Estate OwnedQ1 2024vs Q1 2023$245K$147K
Rates
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Always verify rates and promotions with the bank or credit union. We are not Lake Trust Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Lake Trust Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.00%*$0$5kAspire Savings
OTHER TIERS: 0.05% $5k+
0.05%$0-Membership Savings
0.05%$0-Holiday Savings
0.05%$0-Business/Municipal/Government Savings
0.05%$0-Special Savings
0.05%$0-Youth Membership Savings

Lake Trust Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.25%*$5m*-Business Money Market Premium
OTHER TIERS: 0.01% $0 - $100k | 1.75% $100k - $250k | 2.25% $250k - $500k | 2.75% $500k - $750k | 3.25% $750k - $1m | 3.51% $1m - $2.5m | 4.00% $2.5m - $4.5m
3.51%*$1m*-Money Market Premium
OTHER TIERS: 0.01% $0 - $25k | 1.00% $25k - $50k | 1.50% $50k - $100k | 1.75% $100k - $250k | 2.25% $250k - $500k | 2.75% $500k - $750k | 3.25% $750k - $1m
1.75%*$100k*-Money Market Savings Plus
OTHER TIERS: 0.05% $0 - $50k | 1.50% $50k - $100k
1.31%*$100k*-Municipal/Government Money Market Savings
OTHER TIERS: 0.05% $0 - $2k | 1.06% $2k - $10k | 1.26% $10k - $100k
1.06%*$75k*-Money Market Savings
OTHER TIERS: 0.05% $0 - $4k | 0.85% $4k - $10k | 1.00% $10k - $75k
1.06%*$30k*-Business Money Market Savings
OTHER TIERS: 0.05% $0 - $2k | 0.80% $2k - $10k | 1.00% $10k - $30k
0.10%$1k-Money Market Checking

Lake Trust Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%$5k-Business Interest Checking

Lake Trust Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.15%$500-5 Month CD Plus Special
5.00%$500-10 Month CD Plus Special
4.33%*$12k*-Municipal/Government 12 Month CD
OTHER TIERS: 3.66% $500 - $12k
4.25%*$100k*-24 - 35 Month CD
OTHER TIERS: 3.40% $500 - $10k | 4.00% $10k - $100k
4.07%*$10k*-12 - 23 Month CD
OTHER TIERS: 3.66% $500 - $4k | 3.92% $4k - $10k
4.07%*$12k*-Business 12 - 23 Month CD
OTHER TIERS: 3.66% $500 - $12k
4.00%*$12k*-Business 24 - 35 Month CD
OTHER TIERS: 3.40% $500 - $12k
3.82%*$10k*-6 - 11 Month CD
OTHER TIERS: 3.30% $500 - $4k | 3.51% $4k - $10k
3.82%*$30k*-Business 6 - 11 Month CD
OTHER TIERS: 3.30% $500 - $12k | 3.51% $12k - $30k
3.61%*$100k*-36 - 47 Month CD
OTHER TIERS: 3.20% $500 - $10k | 3.35% $10k - $100k
3.61%*$30k*-Business 36 - 47 Month CD
OTHER TIERS: 3.20% $500 - $12k | 3.35% $12k - $30k
3.45%*$100k*-60 - 72 Month CD
OTHER TIERS: 3.25% $500 - $10k | 3.40% $10k - $100k
3.45%*$30k*-Business 60 - 72 Month CD
OTHER TIERS: 3.25% $500 - $12k | 3.40% $12k - $30k
3.40%*$10k*-3 - 5 Month CD
OTHER TIERS: 2.48% $500 - $4k | 2.73% $4k - $10k
3.40%*$100k*-48 - 59 Month CD
OTHER TIERS: 2.99% $500 - $10k | 3.14% $10k - $100k
3.40%*$12k*-Business 3 - 5 Month CD
OTHER TIERS: 2.48% $500 - $12k
3.40%*$30k*-Business 48 - 59 Month CD
OTHER TIERS: 2.99% $500 - $12k | 3.14% $12k - $30k
2.99%$50$10k2 Year Aspire CD
2.89%$25-12 Month Save to Win CD

Lake Trust Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.15%$500-5 Month IRA CD Plus Special
5.00%$500-10 Month IRA CD Plus Special
4.25%*$100k*-24 - 35 Month IRA
OTHER TIERS: 3.40% $500 - $10k | 4.00% $10k - $100k
4.07%*$10k*-12 - 23 Month IRA
OTHER TIERS: 3.66% $500 - $4k | 3.92% $4k - $10k
3.82%*$10k*-6 - 11 Month IRA
OTHER TIERS: 3.30% $500 - $4k | 3.51% $4k - $10k
3.61%*$100k*-36 - 47 Month IRA
OTHER TIERS: 3.20% $500 - $10k | 3.35% $10k - $100k
3.45%*$100k*-60 - 72 Month IRA
OTHER TIERS: 3.25% $500 - $10k | 3.40% $10k - $100k
3.40%*$10k*-3 - 5 Month IRA
OTHER TIERS: 2.48% $500 - $4k | 2.73% $4k - $10k
3.40%*$100k*-48 - 59 Month IRA
OTHER TIERS: 2.99% $500 - $10k | 3.14% $10k - $100k
Locations

Availability

Detroit Area

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