Lake Trust Credit Union to Build $30 Million Headquarters in Brighton
The company plans to purchase the 17-acre property on the corner of Old US-23 and Spencer Road.
Lake Trust Credit Union announced plans Wednesday of its plans to build a new $30 million headquarters in Brighton Township.
The 17-acre site is located at the corner of Old US-23 and Spencer Road and the construction process could be completed by 2015. The site will include a new 100,000 square foot building designed to more efficiently and effectively join a work-force 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 Credit Union and Detroit Edison Credit Union 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.
“The new Lake Trust headquarters will be the best place to work in Michigan,” Lake Trust president and CEO David Snodgrass said.“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-techoperating systems, all in an ideal open plan, daylight filled setting, at a great location. It’s a win-win-win plan for Michigan, for Lake Trust employees and for our members.”
Lake Trust plans to invest a total of $40 million in Michigan over the next five years. The extra $10 million is planned for Lansing and Plymouth, and member branch developments.
“I am pleased to hear that Lake Trust Credit Union is investing in the 8th District,” U.S.Rep. Mike Rogers (R-Brighton) said. “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.”
Lake Trust Credit Union is Michigan’s fourth largest credit union with branches stretching from Lake Michigan to Lake Huron and Lake Erie. With more than $1.5 billion in assets, Lake Trust provides over 157,000 members with best-in-class products and offers individualized, trust-based member service. Membership is open to anyone within its 35-county service area. Learn more about Lake Trust online at laketrust.org.
Source: press release