LAKE TRUST CREDIT UNION | CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN

BRIGHTON, MI | Livingston County
Mission-Driven Bank or Credit Union
LAKE TRUST CREDIT UNION | CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN
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As of , this nonprofit no longer meets findCRA's qualification requirements and will no longer appear in CQ search results.

Reason for disqualification:

Overview

LAKE TRUST CREDIT UNION | CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN
38-1250516
4605 S OLD US HIGHWAY 23
BRIGHTON, MI 48114
Livingston County

Mission Statement info

This nonprofit has not reported a mission statement.

CRA Category info
  • Mission-Driven Bank or Credit Union
Nonprofit location info
  • This nonprofit is not located in any CRA geographies.
Awards & Certifications info
  • CDFI Organization
  • CDFI Award Recipient
Founded info
Not reported
Total Employees info
Not reported
Total Volunteers info
Not reported
Nonprofit Classification (NTEE Code) info
-

Not reported

IRS Activity Codes info
921
Loans or credit reporting
279
Other services or benefits to members or employees
-
Not reported
Standard Business Classification (NAICS Code) info
-
Not reported

CRA Alignment

CRA Category info
Mission-Driven Bank or Credit Union
Bank or credit union that has been certified by the U.S. Treasury as a Community Development Financial Institution.
What does it mean for a nonprofit to be CRA aligned?
Each nonprofit on Community Qualifier has been reviewed by findCRA utilizing a dual evaluation process. Nonprofits are first evaluated by our proprietary algorithm, CRANIA, and then further validated by our CRA experts. When nonprofit passes both parts of this review, we create a nonprofit profile for them on Community Qualifier. From there, a nonprofit can claim their profile and add additional information including their programs & services, counties served, targeted clients and income groups and more.
Awards & Certifications info
Community Development Financial Institution info
Date Certified info
6/2/2017
Native American CDFI info
N
Financial Institution Type info
Credit Union
Community Development Financial Institution Award Recipient info
New Market Tax Credit Recipient info
YearAmountProgramAwardee Name
2018 $975,000 CDFI Financial Assistance open_in_new Lake Trust Credit Union
2020 $750,000 CDFI Financial Assistance open_in_new Lake Trust Credit Union
2021 $625,000 CDFI Financial Assistance open_in_new Lake Trust Credit Union
2021 $1,826,265 CDFI Rapid Response Program (COVID-19) open_in_new Lake Trust Credit Union

Includes CDFI Fund awards granted between January 2013 and December 2023

HUD Counseling Agency info
Low Income Housing Tax Credit Recipient info

IRS Summary

Income
$154.4M
Revenue
$102M
Assets
$2.6B

IRS Business Master File Details info

As of August 2024
Exempt Ruling Date info
1956-10
Deductibility Status info
Not Deductible
Last Tax Filing info
2022
Organization Type info
Association
Organization Tax Filing Status info
990 (all other) or 990EZ return
Foundation Tax Filing Status info
990-PF not required by IRS
Affiliation Classification info
Subordinate Organization
Basis for Foundation/Public Charity Status info
All organizations except 501(c)(3)

IRS Publication 78 Details info

As of August 2024
Verified in Publication 78 info
No
Deductibility Limitation info
Not reported
Organization Description info
Not reported

IRS Form 990 Returns info

Through August 2023
Tax period ending in
2021-12
E-File
990
XML
990
Tax period ending in
2020-12
E-File
990
XML
990
Tax period ending in
2018-12
PDF
990
E-File
990
XML
990
Tax period ending in
2017-12
E-File
990
XML
990
Tax period ending in
2016-12
E-File
990
XML
990
Tax period ending in
2015-12
PDF
990

Nonprofit Location

Physical Address info
4605 S OLD US HIGHWAY 23
BRIGHTON, MI 48114
Livingston County
Area Type info
Metropolitan Statistical Area
FIPS Geocoded Address info
47664
MSA/MD info
26
State info
093
County info
7409.00
Tract info
Upper
Income Level info
Core-Based Statistical Area info
19820 - Detroit-Warren-Dearborn, MI
Combined Statistical Area info
220 - Detroit-Warren-Ann Arbor, MI
Metropolitan Division info
47664 - Warren-Troy-Farmington Hills, MI
Located In info
Low- or Moderate-Income Census Tract info
Opportunity Zone info
Majority Minority Census Tract info 11.13%
FFIEC Distressed Census Tract info
FFIEC Underserved Census Tract info

Market Data

Census Tract County
7409.00 Livingston County
Population
Total Population 2,013 194,302
Total Households 730 74,841
Income
Median Income* $138,839 $96,135
Median Family Income (2024 FFIEC est.) $109,700 $109,700
Tract Income Percentage 150.22% N/A
Below Poverty Level 1.7% 4.9%
Unemployment Level 2.9% 4.0%
Housing
Total Housing Units 741 78,706
Total Owner-Occupied Units 88.7% 85.9%
Total Renter-Occupied Units 9.9% 14.1%
Total Vacant Units 1.5% 4.1%
* Census Tract Median Income based on 2020 Tract Median Family Income as reported in the 2024 FFIEC Census Flat File. County Income based on Median Household Income as reported in the 2022 American Community Survey.
View more than 200 performance context data points for this county now.

Management

11
Total Voting Members
in Governing Body info
11
Independent Voting Members
in Governing Body info
Tax Filing Signatory info
David Snodgrass
(888) 267-7200
Principal Officer info
David Snodgrass
findCRA Profile Owner
Nonprofit profile has not yet been claimed
Key Policies & Documents info
Written Conflict of Interest Policy
Written Document Retention & Destruction Policy
Written Whistleblower Policy
CEO Compensation Review Process
Written Minutes of Board Meetings
Financial Statements & Reporting info
Compiled or Reviewed by an Independent Accountant
Audited by an Independent Accountant
Included in Consolidated Financial Statements
Internal Audit Committee Review
Federal Grant Audit Required
Federal Grand Audit Performed
Organization Activities info
Provides Credit Counseling
Conducts Gaming Activities
Engages in Lobbying Activities
Engages in Political Activities
Makes Grants to Individuals
Makes Grants to Organizations

Information in this section is extracted from the nonprofit's e-filed tax return and based on answers provided by the nonprofit in their 990 e-filed for the tax period ending on 2021-12.

A hyphen (“-“) in this section indicates that the information was not required by the IRS or not reported by the nonprofit in its tax return e-filing.

This Nonprofit Profile was automatically created by findCRA based on data available from publicly available government and industry sources and our own research. This Nonprofit Profile is not currently maintained by, endorsed by, or affiliated with this nonprofit. Whenever possible, we utilize the most recent information available including information as made public by the Internal Revenue Service, U.S. Census Bureau, Federal Financial Institutions Examination Council, and more. The format and design of this Nonprofit Profile is ©findCRA. For more information about our Nonprofit Profiles, please visit help.findcra.com.