2021 Community Support - Lake Trust Credit Union

Together, Lake Trust and the Lake Trust Foundation contributed $417,662 to Michigan communities in the form of sponsorships, grants, contributions, and scholarships in 2021.

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Fox 47 News¹
WILX¹

Together, Lake Trust and the Lake Trust Foundation contributed $536,926 back to Michigan communities in the form of sponsorships, grants, contributions, and scholarships in 2021. This represents a 22% increase from 2020.

A fresh start for culinary businesses.

The Allen Neighborhood Center in Lansing is a community hub that offers health education and outreach, housing improvement, food security and nutrition education, youth development, commercial corridor revitalization, and social capital building. It is also home to The Maker Kitchen powered by Lake Trust, a commercial kitchen where chefs can prepare meals or products for sale in a commercial kitchen, have access to materials and equipment, and build their client bases.

In 2021, we were honored to provide funding for this space with a $50,000 sponsorship that will help support culinary entrepreneurs in Lansing. As part of our partnership, we also created an annual $1,500 Entrepreneur Support Fund, which gives the 15 chefs in the space access to funds to purchase equipment, attend training toward certifications, and more. The first recipient of the fund was a bakery, Michigan Made Treats, who used the money to purchase a new sheeter (a piece of industrial equipment that makes it easier for bakers to make large quantities of dough). The equipment helped the bakers increase their efficiency and add to their product offerings.

Allen Neighborhood Success Story

Taiwo A. started Tatse, an American/African fusion restaurant, in Allen Neighborhood Center in June 2021. He needed funding to support hiring two team members, ordering inventory, paying for marketing expenses, and other costs. We supported Taiwo through business counseling and helped him obtain a small business microloan. This loan not only helped Taiwo provide a new food experience in Lansing, but it also helped him hire a team and secured rental income for Allen Neighborhood Center. Taiwo later shared that without this funding, he probably wouldn’t have been able to start his restaurant

In February 2022, Tatse moved to a permanent location at 221 S. Washington Square, attached to Alobosa African Bar. We helped Taiwo connect with Downtown Lansing Inc. to apply for and obtain a rent subsidy grant. This grant will help him reduce his first-year overhead costs and focus on bringing delicious food to the Lansing community.

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Fox 47 News¹
WILX¹

Deepening relationships in Hastings

There’s power in community. In creating deep connections. And in making others feel included and welcome. Last year, we had the opportunity to acquire the Mercantile Bank branch in Hastings and relocate our relationship center from Church Street to 1500 W. M-43 Highway.

Along with the purchase of the Hastings Mercantile Bank building, we also welcomed the customers who used this location as new members of Lake Trust. Leading up to this transition, the new Lake Trust members received multiple communications to introduce them to Lake Trust and hopefully address questions and concerns about the coming transition. After completing the transition in May, we welcomed 651 new members to Lake Trust from Mercantile Bank. The Hastings Mercantile Bank branch acquisition provided the opportunity for us to assist more members, families, businesses, and organizations in the Hastings community.

Our relocated relationship center officially opened on Monday, September 13. The branch includes drive-up video teller machines where members can do account transactions during extended hours. A community room inside the building makes it possible to host meetings and events. And the central location is closer to shops and restaurants. This space is also more convenient for members to visit because there is more space for parking.

To thank the community for their support during this project, our members and community partners were invited to a grand opening ribbon-cutting ceremony soon after the branch opened. The grand opening celebration also provided an opportunity to give back and demonstrate our growing commitment to Hastings. For every new account that our members opened during the promotion period, $10 was donated to Hand2Hand, a local nonprofit that seeks to eliminate child hunger. In addition, members also received $10 deposited to their accounts.

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Grand Rapids Business Journal¹

Members and new members in the Hastings area have brought new deposits and loans into Lake Trust, resulting in a 39% increase since May 2021.