How a Michigan credit union is a ‘game-changer’ for communities, non-profits

How a Michigan credit union is a ‘game-changer’ for communities, non-profits

Lake Trust Credit Union by Lake Trust Credit Union

Lisa Crawford, the director of the Detroit non-profit Humble Design, knows exactly how much impact community-minded businesses have on tightly run charities like hers.

“We literally could not do it without partnerships like we have with Lake Trust Credit Union,” she said. “They are a game-changer for us when they send full teams of people to volunteer for the day. It speaks to their dedication to the community and helping strengthen neighborhoods one home at a time.”

Lake Trust Credit Union, which is headquartered in Brighton and serves 175,000 members with 22 branches across the southern lower peninsula, is stepping up its commitment to Humble Design and five other Michigan non-profits with innovative programs for home mortgage loans and home equity loans that benefit its members and the larger fabric of the state.

As the community-based credit union continues its expansion throughout Michigan, adding new locations in Detroit on Woodward Avenue and Plymouth within the last month alone, its team Lake Trust CU Branchremains committed to donating its time and resources to help create and sustain strong neighborhoods.

“As both Detroit and Plymouth continue to experience significant growth and development, we saw this as an opportunity to contribute to the positive energy taking place in these communities while better serving small businesses and our members living and working in these areas,” said Nicole Whitely, a member experience manager for Lake Trust Credit Union. “These branches not only offer modern conveniences that impact the way we communicate with and provide solutions for our members, but they also expand our platform for building and growing strong relationships with our communities in Michigan.”

Lake Trust, through September 30, will give members who close a new mortgage or refinance their mortgage $250, and the credit union will also donate $250 to charity. Members who close a home equity loan will receive $100, and the credit union will grant a non-profit $100.

“Our goal is to build a stronger Michigan by improving communities and helping our neighbors,” said Whitely. “We want to put people first and help make the lives of our members better.”

In addition to Humble Design, which helps people emerging from homelessness transform their new housing with a coordinated design of donated furniture and household goods, Lake Trust Credit Union has partnered with:

  • The City Rescue Mission of Lansing, a shelter that uplifts the homeless.
  • Love in Action, which pairs medical professionals with support agencies in rural communities.
  • Shelter Association of Washtenaw County, a temporary shelter.
  • LaCasa, a Howell-based group that aids domestic violence victims.
  • Isabella County Restoration House, a mid-Michigan housing assistance group.

 

Lake Trust began the program in July and planned to have it in place through August. The overwhelmingly positive response led to the credit union extending the donation period through September.

The timing of the member benefit and the charitable donation comes at a great time. According to the Mortgage Bankers Association, an industry trade group, average rates for a 30-year mortgage recently dropped below 4 percent for the first time in nearly three years. Rates on 15-year loans are even lower.

“We take pride in being involved in the community and focusing our efforts on giving back. It’s part of our culture,” Whitely said. “We don’t just say it, we show it with our commitment to helping neighborhoods thrive.

“We think this is a unique way of showing the dedication of our credit union.”

Crawford agrees, saying Humble Design is honored to have been chosen among the recipients of the financial boost.

“It’s been incredible to work with Lake Trust team members,” she said.

Visit Lake Trust Credit Union to learn more about how it benefits its members and Michigan.