From Shore to Shore: Lake Trust Serves Michigan Communities
According to Vice-President of Marketing, Danielle Brehmer, “Our main office is in Lansing, and about 200 of our 400 employees work in the Lansing area in our seven branches there.”
She continues, “In April of 2010, NuUnion Credit Union and Detroit Edison Credit Union merged to form Lake Trust. Both were strong and flourishing, but by combining our assets, Lake Trust brought members and resources together to become even stronger.”
Detroit Edison Credit Union was established in 1944 to serve the employees, families, retirees and contractors of DTE Energy in the Detroit area. Ultimately, they grew to include 66,000 members in eight counties with eight branches.
State Employees Credit Union (which became NuUnion) was established in 1952 to serve the financial needs of State employees. Over the years, through growth and mergers, it became NuUnion and grew to include other employees, including Ottawa County school employees. In 2010, NuUnion had more than 91,000 members with more than $850 million in assets and 14 branches.
Now, with the merger of two successful credit unions, Lake Trust ranks in the top one percent of credit unions nationwide and is the fourth largest in Michigan in terms of asset size.
Membership in Lake Trust Credit Union is open to anyone in the 35 counties it now serves, regardless of where a member is employed.
Brehmer says, “As the costs to offer services rises, there are fewer credit unions. The merger made sense for us. We joined together to be stronger and better able to serve our members. We are continuing to grow and we anticipate that we will be adding more branches for the good of our members.”
She continues, “We’re proud of where we’ve been, and we’re proud of where we are and where we’re going.”
Lake Trust Credit Union offers the same products and services that can be found in most financial institutions. Brehmer points out that, because they are a not-for-profit, they can sometimes offer lower fees and rates. For small business owners, there are staff members dedicated to the unique needs of that segment of the economy as well as a specially designed suite of products and services.
Just as Lake Trust is committed to its members, it is committed to the communities they serve. This summer, they raised more than $12,000 in matching funds to add to the Kiwanis Club funds of more than $12,000 which they raised to build a playground for the children who reside at the City Rescue Mission facility for women and children on South Cedar Street.
Brehmer says, “We not only raised the money, we actually built the playground! Volunteers did it all, and now the children in the shelter have a wonderful place to play.”
So far this year, as of August, they participated in or supported 23 Lansing organizations including Lansing Frost Fest, Impression 5 Science Museum, Cycle for a Cause, Downtown Planting Day, Senior Activities Fair, Credit Union Charity Golf Scramble and Big Kids for Little Kids Charity Golf Outing, to name just a few. They also provide scholarships for students and development funds for teachers and contribute to many community organizations.
Brehmer says, “We care about all our communities, and Lansing has a very special place in our hearts. Lansing is a city where there are lots of opportunities to get involved. The relationships that we build there really mean something. It’s a tribute to the way people live and work there. It’s a great community.”
Lake Trust Credit Union
501 S. Capitol
(With 20 branches throughout the state)
Author: Jane Whittington
Photo by: Terri Shaver