Lake Trust CU will build a $30 million headquarters on approximately 17 acres adjoining U.S. 23 just north of I-96 near Brighton.
Lake Trust has major offices in Lansing, its current headquarters, Plymouth and Brighton. In addition to the new Brighton building, the credit union will invest $10 million more in Lansing and Plymouth, and member branch developments.
Lake Trust is also planning to expand its retail operations in the state.
“We’re really excited to make this announcement about our new headquarters and future investments in Michigan,” Lake Trust president and CEO David Snodgrass said. “The Brighton property we intend to purchase and develop is really spectacular. The site has many natural features including a pond and our designers can create a first-class campus with several amenities for employees like walking trails and picnic areas.”
“The new Lake Trust headquarters will be the best place to work in Michigan,” he added. “Locating our new headquarters in Brighton means Lake Trust is uniting our workforce in new corporate space at a more central location within a reasonable commute for most of our current employees. Brighton and nearby Ann Arbor are vibrant growing communities and this location simply makes the most business sense for our organization. Our new headquarters will be equipped with the latest high-tech operating systems, all in an ideal open plan, daylight filled setting, at a great location.”
Planning and construction could be completed by 2015. It will include a 100,000-square-foot building designed to more efficiently and effectively join a workforce currently split between old corporate offices in Lansing and Plymouth.
Operating two aging corporate offices was the result of the merger in 2010 between NuUnion CU and Detroit Edison CU that formed Lake Trust. Simply maintaining current operations in old facilities became increasingly expensive for Lake Trust and would have cost credit union members an estimated $7 million more over the next 20 years compared to a new energy-efficient and flexibly designed facility.
“Lake Trust recognizes we must invest in our operations and the many communities we serve,” Snodgrass said. “Lake Trust is committed to simultaneously investing in Lansing and Plymouth, and making several strategic long-term retail branch investments throughout Michigan. I think we are moving from a post-merger mentality as an organization to a more thoughtful, growth strategy.”
U.S. Rep. Mike Rogers, R-Brighton, said he was happy to hear about the new headquarters in his district.
“Having the Lake Trust corporate headquarters located near Brighton will provide economic and job growth for our community and I look forward to the prosperity it brings,” Rogers said.