TruStone Financial is a notable credit union headquartered in Plymouth, Minnesota. Established in 1939, it is one of the largest credit unions in Minnesota, providing a wide array of financial services to its members. With assets exceeding $5 billion and a mortgage servicing portfolio surpassing $2 billion, TruStone has garnered a significant presence in the financial sectors of Minnesota and Wisconsin. The union was originally founded as a teachers' credit union, emphasizing its initial focus on education and community service. In recent years, it has expanded its reach across states with multiple branches and a substantial member base.
| Attribute | Information |
|---|---|
| Founding Date | 1939 |
| Headquarters | Plymouth, Minnesota |
| Founders | Teachers of Minnesota |
| Revenue | Not Disclosed |
| Profits | Not Disclosed |
| Key Investors | Member-owned |
| Industry | Financial Services |
| Number of Employees | 527 |
TruStone Financial, initially established as a credit union for educators, began in 1939 with the express purpose of serving teachers’ financial needs in Minnesota. It started as a modest operation with a focus on providing reliable savings and loan services to educators who were often underserved by traditional banking institutions. Over the years, the union expanded its membership criteria to include a broader swathe of the general public, while maintaining its foundational commitment to educational communities. Through its foundational years, TruStone invested heavily in building partnerships with educational networks and local schools, facilitating financial literacy programs and counseling services.
TruStone Financial operates as a full-service credit union offering a variety of products including savings accounts, investment opportunities, personal and auto loans, mortgages, and credit cards. It holds a notable position as the second largest credit union in Minnesota, underlined by its dynamic business model that prioritizes member satisfaction and community engagement.
TruStone Financial continues to be a leading credit union in Minnesota and Wisconsin, with a strong focus on expanding its market share through strategic member engagement and technological innovation. As of 2024, TruStone actively manages assets over $5 billion, with a member base exceeding 214,660 individuals. Its operations are supported by a network of 65,000 surcharge-free ATMs and shared branch locations nationwide, emphasizing accessibility.
TruStone Financial exemplifies a successful transformation from a niche educators' credit union into a prominent player in the financial services sector in the Upper Midwest. Its ongoing commitment to community support, financial education, and member-focused service models uniquely positions TruStone in the competitive financial landscape. Looking forward, the credit union aims to maintain its growth trajectory by expanding its product offerings, enhancing technological frameworks, and reinforcing its reputation as a top-tier financial institution. Given the current trajectory and market conditions, TruStone is poised to capitalize on emerging opportunities to broaden its market presence while serving its members and communities effectively.