Overview
What is Credit Unions Chartered In The State Of 222 Lake Trust Credit Union?
Lake Trust Credit Union, chartered in the state of Michigan, is a credit union dedicated to serving 181,949 members. They offer various financial products, including loans and deposits, to promote thrift and financial wellbeing among their members. Through a credit union relationship, members have the ability to control their financial lives while sharing in the success of the organization. This mutually beneficial arrangement fosters trust, loyalty, and advocacy, resulting in a cost-effective and rewarding experience for members. With a team of 561 employees, Lake Trust Credit Union is committed to providing its members with valuable financial services and opportunities.
Official website here: www.laketrust.org
Is Credit Unions Chartered In The State Of 222 Lake Trust Credit Union legitimate?
Credit Unions Chartered In The State Of 222 Lake Trust Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Credit Unions Chartered In The State Of 222 Lake Trust Credit Union submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $2,115,808
Professional Fundraising Fees: $0
Other Salaries and Wages: $28,819,105
For more financial information, click here
Official website here: www.laketrust.org
What is the mission statement of Credit Unions Chartered In The State Of 222 Lake Trust Credit Union?
Credit Unions at large aim to provide members with the benefits of a relationship that offers control over their financial lives and rewards them with mutual advocacy and trust. At Credit Unions Chartered In This State, members experience this relationship, justified by the results. Members exercise control, share in the organization's success, and reap rewards from a mutually beneficial relationship. These advantages stem from a strong advocacy and trust-based foundation, fostering loyalty and connection between the members and their cooperative. The members value the link between their benefits and their collective ownership.
Official website here: www.laketrust.org
Who is the CEO of Credit Unions Chartered In The State Of 222 Lake Trust Credit Union?
David Snodgrass is the Chairperson of Credit Unions Chartered In The State Of 222 Lake Trust Credit Union. The CEO's salary of Credit Unions Chartered In The State Of 222 Lake Trust Credit Union is $1,175,039 and their total compensation is $1,501,057.
Official website here: www.laketrust.org
What is the revenue of Credit Unions Chartered In The State Of 222 Lake Trust Credit Union?
Credit Unions Chartered In The State Of 222 Lake Trust Credit Union's revenue in 2022 was $102,003,770.
Official website here: www.laketrust.org
Who are the executives of Credit Unions Chartered In The State Of 222 Lake Trust Credit Union and what are their salaries?
The average compensation at Credit Unions Chartered In The State Of 222 Lake Trust Credit Union during 2022 was $55,142. There are 561 employees and 12 volunteers at Credit Unions Chartered In The State Of 222 Lake Trust Credit Union.
Here are 20 key members and their salaries (Credit Unions Chartered In The State Of 222 Lake Trust Credit Union's CEO's salary is $1,175,039 and their total compensation is $1,501,057):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $17,709
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $7,404
- Related: $0
- Other: $0
- Compensation: $1,106
- Related: $0
- Other: $0
- Compensation: $4,419
- Related: $0
- Other: $0
- Compensation: $4,780
- Related: $0
- Other: $0
- Compensation: $2,026
- Related: $0
- Other: $0
- Compensation: $1,759
- Related: $0
- Other: $0
- Compensation: $1,962
- Related: $0
- Other: $0
- Compensation: $1,175,039
- Related: $0
- Other: $326,018
- Compensation: $268,538
- Related: $0
- Other: $33,702
- Compensation: $239,292
- Related: $0
- Other: $32,054
- Compensation: $251,149
- Related: $0
- Other: $28,352
- Compensation: $247,784
- Related: $0
- Other: $32,450
- Compensation: $216,826
- Related: $0
- Other: $26,471
- Compensation: $214,041
- Related: $0
- Other: $17,785
- Compensation: $214,604
- Related: $0
- Other: $18,966
Official website here: www.laketrust.org
Where can I find the form 990 for Credit Unions Chartered In The State Of 222 Lake Trust Credit Union?
Credit Unions Chartered In The State Of 222 Lake Trust Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.laketrust.org
Learn more at the official website: www.laketrust.org
Mission Statement of Credit Unions Chartered In The State Of 222 Lake Trust Credit Union
Credit Unions Chartered In The State Of 222 Lake Trust Credit Union is an organization dedicated to fostering a mutually beneficial financial relationship between its members. The credit union offers its members the opportunity to gain a deeper understanding of the advantages of this unique financial arrangement. Members are empowered to take control of their finances while contributing to the collective success of the organization.
The relationship between the members and Credit Unions Chartered In The State Of 222 Lake Trust Credit Union is characterized by advocacy and trust. Members reap the rewards of this symbiotic bond, experiencing the satisfaction of linking their benefits directly to their ownership. The credit union's mission is threefold. First, it provides members with a clear comprehension of the benefits associated with a credit union membership. Second, it grants members the ability to wield influence over their financial lives. Lastly, it fosters a sense of trust and loyalty among members through its mutually beneficial structure.
Credit Unions Chartered In The State Of 222 Lake Trust Credit Union enables its members to reap the benefits of their membership in a cost-effective manner. Membership comes with the distinct advantage of shared success, as members contribute to the organization's prosperity while simultaneously enjoying the benefits it offers. This reciprocal relationship based on advocacy and trust cultivates a strong bond between the members and the credit union. In turn, members develop a deep sense of trust and loyalty towards the organization.
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Impact
October, 2024
Credit Unions Chartered In The State Of 222 Lake Trust Credit Union significantly impacts its members and the community by promoting financial literacy and empowerment. With a membership base of 181,949, it offers a range of financial products, including loans and deposits, designed to meet the diverse needs of its members.
The credit union fosters a culture of thrift and encourages members to take control of their financial lives. Through advocacy and mutual trust, members not only benefit from the services but also share in the success of the organization, creating a strong sense of loyalty and ownership. This relationship cultivates an environment where members understand the value of their financial decisions, leading to improved financial stability and overall wellbeing.
Moreover, the credit union's commitment to providing cost-justified services enhances the financial experiences of its members. By focusing on a democratically governed structure, it emphasizes member participation and engagement, ultimately strengthening the community. Through its efforts, Lake Trust Credit Union exemplifies the positive outcomes of cooperative financial relationships, contributing to both individual and collective prosperity.
This information is meant to be a general summary of Credit Unions Chartered In The State Of 222 Lake Trust Credit Union. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $6,374,937
- Program Service Revenue: $93,746,217
- Gross Receipts: $154,418,395
Assets and Liabilities:
- Total Assets: $2,583,730,909
- Total Liabilities: $2,383,125,371
- Net Assets: $200,605,538
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MEMBER LOAN INCOME
Revenue
$69,816,616
FEE INCOME
Revenue
$23,929,601
Organization Details
Founding Year
1943
Phone
(888) 267-7200Principal Officer
David Snodgrass
Main Address
4605 S OLD US HIGHWAY 23, BRIGHTON, MI, 48114
Website
www.laketrust.orgNTEE Category
Code: W60 - Public benefit
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