Members
Each day, we strive to support and empower our members as they navigate their financial wellbeing journey. During 2024, we took several steps to enhance member engagement and provide access to educational resources.
Website Refresh
We refreshed our website with a new look, improved the navigation, and provided new tools. New features include calculators, a Financial Wellbeing Library, and a newsroom.
Contactless Debit Cards
We issued new contactless debit cards to members who had expiring cards. With the ability to simply tap a payment terminal to make a purchase, our new debit cards allow for a faster, more convenient, and more secure way to pay.
Digital Wallet Adoption
To remind members of another convenient payment option, we encouraged digital wallet usage.
New relationship centers.
Warren Relationship Center |
Brighton Relationship Center - Renovation |
Member stories.
Member stories.
Our members inspire the work we do each day. To empower others in the pursuit of their dreams, we added a new section on our refreshed website to celebrate member stories. These people are making an impact at home and across Michigan. And we're honored to support people and share their stories of inspiration.
SEE THEIR STORIES
The power of home.
The power of home.
With an understanding of the power that homeownership brings, we take opportunities to celebrate as our members purchase their dream home or reimagine their current home. Through our ongoing home loan giveback program, a donation is made each time a member closes a mortgage or home equity loan with Lake Trust or our partners at Mortgage Center.
• $63,000: Donation amount awarded between Capital Area Housing Partnership and Habitat for Humanity of Barry County in 2024
• $325,000: Amount donated to 23 housing nonprofits since launching our home loan giveback program in 2019
Making borrowing easier.
Making borrowing easier.
To help members quickly find lending options to meet their needs, we sent out quarterly pre-approval communication to qualified members throughout 2024. Because their credit history was reviewed in advance, qualified members could simply accept their chosen loan offer in Online or Mobile Banking.
Later, we added an initiative where members could receive $200 cash back after closing a direct auto loan. An additional $50 was donated to The Senior Alliance, a nonprofit that provides transportation services to seniors and those with disabilities.
Members received more than $3 million in new loan funding through this multi-loan, pre-approval program.
Environmentally Friendly Borrowing
We’re actively building a green lending program to support loans for electric vehicles and energy-efficient home improvements with the anticipated launch in 2025.
Supporting underserved communities.
Supporting underserved communities.
Since 2019, Lake Trust has held the designation as a Community Development Financial Institution (CDFI), which grants us access to resources to support the needs of low- to moderate-income communities. Grants provided by the CDFI fund have made it possible to offer programs to our members, like:
- Small business microloans – Funding option under $50k for entrepreneurs
- Easy Cash – Qualified members can quickly borrow up to $2,000
- Upstart Lending – Personal loans for new members in qualifying areas
In 2024, Lake Trust originated $226.8 million in qualifying CDFI loans. These options give borrowers who may not qualify for a traditional loan access to secure funding.
$147 million in assets are concentrated in community and CDFI impact lending, investing, and deposit products.
