Established in 1936, Lake Trust Credit Union has grown to become one of the leading financial cooperatives in Michigan, serving over 250,000 members across the state. As a not-for-profit financial institution, Lake Trust Credit Union is committed to offering affordable and accessible banking services to individuals and businesses. In this article, we will explore some of the innovative financial solutions Lake Trust Credit Union provides its members and how it continually strives to improve the member experience.
What is Lake Trust Credit Union?
Lake Trust Credit Union is a not-for-profit financial cooperative established in 1936 and headquartered in Brighton, Michigan. As one of the state’s largest and most established credit unions, Lake Trust Credit Union proudly serves over 250,000 individual and business members across 22 branch locations. As a member-owned, democratically controlled organization, Lake Trust Credit Union is committed to providing affordable, accessible financial services to improve members’ lives and communities.
How to Login to Lake Trust Credit Union
To access your accounts through the credit union’s secure online and mobile banking platforms, go to laketrust.org and enter your unique member number or username and your selected password. Two-factor authentication is supported through fingerprint or facial recognition on mobile devices for additional security. Should you ever forget your login credentials, convenient password recovery tools are available on the website.
Benefits and Drawbacks
Key benefits of joining Lake Trust Credit Union include:
- High-interest checking and savings accounts.
- Low-rate loans.
- Free financial education resources.
- Nationwide access to shared branches and ATMs.
- A commitment to community involvement.
One potential drawback is the credit union’s geographic focus only within Michigan, so full access to services requires residing in the state.
Lake Trust Credit Union offers valuable financial products and services that benefit individuals and businesses. Personal members may open deposit accounts, apply for auto loans or mortgages, and use credit cards and student loan refinancing options. Small companies find value in business banking solutions, Treasury management tools, SBA lending programs, and commercial real estate financing. Lake Trust Credit Union strives to meet every stage of its members’ financial lives through innovation and accessibility.
Following are some essential key features and innovative uses of Lake Trust Credit Union:
Convenient Digital Banking
Lake Trust Credit Union understands the need for convenient digital banking. They developed robust online and mobile platforms allowing members to check balances, transfer funds, pay bills and deposit checks quickly on any device. The top-rated mobile app offers features like remote check deposit. Fingerprint or facial recognition login securely accesses accounts without multiple usernames and passwords. Advanced encryption and multi-factor authentication protect members. Digital banking seamlessly adapts to phones, tablets, laptops or desktops through a responsive website. Should assistance be needed, Lake Trust Credit Union’s support team can be reached by phone during business hours or through the comprehensive online help centre and guides.
Innovative Payment Solutions
Lake Trust Credit Union enhances transaction convenience through innovative payment solutions. Members can access over 30,000 credit union branches nationwide for deposits through the CO-OP network, avoiding trips to Lake Trust locations. Quick and secure personal payments are available through peer-to-peer partners like PayPal and Zelle. Businesses benefit from treasury management tools, including mobile check deposits, ACH payments, wires and integration with payroll processors like ADP and Paychex for direct, paperless payroll deposits. Lake Trust works closely with each business to establish the right mix of convenient, timesaving payment services tailored to their unique needs.
Competitive Loan Products
Lake Trust Credit Union strives to offer various loan options to meet diverse needs. In addition to traditional auto, home, personal and student loans, they focus on customized programs. Their Career Impact Loan funds career training from $1,000 to $25,000 over five years. This innovative loan addresses Michigan’s job demand. Another unique product is the Life Impact Loan, which provides flexible financing from $2,000-$25,000 over 60 months for life events like home renovations or debt consolidation. Lake Trust also expands small business access through partnerships for loans under $5 million from SBA and under $50,000 via their Microbusiness Loan. This variety of lending solutions helps members achieve their goals.
Robust Rewards Checking
Lake Trust Credit Union’s checking accounts provide lucrative rewards for members. Their Rewards Checking pays a high 2% APY on balances up to $25k when simple qualifications are met monthly, like 12 debit purchases, eStatements, and online login. In addition to interest, non-Lake Trust ATM fees are reimbursed up to $25 per month. A Student Rewards Checking is also available, paying 1% APY on the first $1,000 for young adults to build smart money habits. By creating innovative, customized products that meet diverse needs, Lake Trust Credit Union ensures that its checking services remain highly competitive and rewarding.
Robust Branch Network
While digital banking grows, Lake Trust Credit Union understands the value of in-person services. Its 22 Michigan branches allow members to visit when needing assistance, access safe deposit boxes, or connect face-to-face with trusted advisors. Branches feature open layouts and homelike comfort, and financial wellness coaches provide free guidance on budgeting, mortgages and retirement. Branches also host seminars on financial education for both youth and adults. Lake Trust Credit Union empowers communities through knowledge and involvement beyond just products. Members feel good knowing their credit union actively gives back locally through food donations, event support and volunteerism.
Robust Online Resources
Lake Trust Credit Union provides robust online resources for members to access education anytime. Their digital hub houses over a dozen in-depth guides and interactive tools on various personal and business finance topics. Find answers to common inquiries through articles exploring credit building, HELOCs and more. Interactive calculators aid in goal planning for college savings, comparing loan options and CD rates. Budget and expense trackers are also available to help track spending. This comprehensive website ensures learning opportunities are always available to support members in making sound financial choices.
In conclusion, Lake Trust Credit Union has established itself as an innovative leader in the financial industry through a full suite of digital and in-person services. For over 80 years, the credit union has remained committed to empowering members at every stage of life with affordable banking solutions and financial education resources. Whether you are looking to purchase your first home, are a small business owner needing payroll processing tools, or are a student saving for college, Lake Trust Credit Union strives to meet your unique needs through customized products, competitive rates, and community involvement. It’s no wonder over a quarter million residents have come to trust Lake Trust Credit Union to help them achieve their financial goals.