At Lake Trust, we support the people and organizations that improve our communities and the quality of life in Michigan.
From volunteering our time to organizations in our 35-county footprint, to the products, services and resources we provide, to the businesses and community revitalization efforts we support, we work in a variety of ways to improve the lives of those around us every day.
As a community-based organization, we’re inherently interested in the well-being of our communities and the businesses within them. Credit unions as a whole were created to grow and sustain community businesses, and we very much adhere to that idea today.
We have a team specialized in Business Lending, who work with local businesses, both small and large. Our team supports those that aren’t able to get funding elsewhere, and finances growing businesses in underserved, low income areas. Business growth is beneficial to city revitalization efforts, and creates more jobs locally.
Lake Trust is creating dynamic partnerships with community organizations and business members alike, as we work to introduce them to the products and services that are most beneficial to them. As a result of these partnerships, we’ve seen tremendous growth in our commercial area.
One region that stands out in terms of business growth is Washtenaw County. Within this region, we’ve assisted numerous businesses with their financial needs. This is particularly true with existing businesses that are experiencing strong growth and have a need for larger buildings, additional equipment and working capital to support that growth.
Additionally, through the Small Business Administration loan programs, we’ve been able to assist numerous entrepreneurs as they start their own business. Our Business Lending team helps these business owners bring their dreams to life by enhancing their business plans and supporting their lending needs.
Education is another important way we can contribute to economic well-being. The cost of college is continually on the rise and state support and the amount of financial help families can give to their children is declining, so scholarships are more important than ever. That’s why we’ve granted scholarships to students, each year, since the inception of the Lake Trust Foundation in 2012. In 2016, we granted four $5,000 scholarships, and this year, we partnered with the Michigan High School Athletic association to grant six $1,500 scholarships to students all across Michigan. In all, we’ve awarded over $50,000 in scholarships to students attending a college in Michigan.
Investing in our Communities
We’re excited to expand our presence and strengthen our connections in Michigan, so we’re always evaluating our market and considering new locations. Of course, new businesses improve the job market, both by creating job opportunities, and providing work to local vendors and contractors, helping to build healthier neighborhoods and stronger communities.
We just recently broke ground for our new Howell branch on Grand River Ave. This is in addition to our existing Howell branch, so we’ll be hiring a new staff for this location.
In 2015, we moved our headquarters building to Livingston County. We arrived here with 200 employees and have room for growth to over 300.
We’re committed to expanding our retail network throughout Michigan and as always, we’ll continue to evaluate opportunities to grow Lake Trust in all of the communities that we serve.