As we move through the first months of 2020, we’d like to pause and reflect on 2019 – a year that saw many successes and strong financial growth for Lake Trust. Though we were excited to share our stories of success with you during our Annual Meeting in April, we made the difficult decision to postpone this event for the safety of our team and our members. However, we plan to reschedule this gathering later in 2020. When we have a new date for our meeting, we’ll be sure to let you know. In the meantime, please feel free to view our 2019 financial statements. We plan to share our highlights from 2019 in a full impact report, which will be published later this spring.
Throughout the past month, Team Lake Trust has brought forth a host of creative ideas and an unparalleled enthusiasm for offering assistance. Knowing that a difficult road was ahead for many of our members, we eliminated some of our most common fees, offered to let individuals skip their loan payments, and have worked with families to help them manage their finances. We understood that small businesses were struggling too, so our team worked tirelessly to process as many applications for the Paycheck Protection Program as possible. We also partnered with local organizations to offer more support for small businesses in our communities.
I hope you and your family continue to stay safe and healthy. If there is anything we can do to help you during this trying time, please reach out to us. There will undoubtedly be more challenges ahead, but I hope that we take comfort in the knowledge that none of us have to weather this storm alone. We’re here for you.
We had an amazing year in 2019 and we’re excited to share the impact of our efforts with you. We cannot thank our members enough for choosing us for their financial needs and supporting us in our work making a difference in Michigan. And a big thank you to our team who works tirelessly to help our members find success.
Ray has served on our Board since April 2010. He recently retired from DTE Energy after 38 years of service. Notable accolades include a Certified Credit Union Director distinction and a NAFCU Certified Volunteer Expert.
Phil is the Senior Vice President and Chief of Staff for Ann Arbor SPARK. He has more than 10 years of economic development experience, including a previous role at the Michigan Economic Development Corporation.