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Report of the Board of Directors
REPORT OF
The Board of Directors
2021 was a year of significant change for TruStone Financial. The merger with Firefly Credit Union did far more than accelerate our growth – it expanded our potential to serve like never before.
Nearly 200,000 members now do business with TruStone at 23 locations in the Greater Twin Cities Community, St. Cloud, and southeast Wisconsin. Last year our members borrowed more than $2 billion from their credit union, nearly half of which was for the purchase of a new home or to refinance an existing first mortgage. Approximately, 8,000 members financed a new vehicle with TruStone and more than $260 million was approved in home equity loans. Additionally, members opened 12,000 checking accounts, activated 5,000 new credit cards, and conducted millions of digital and mobile banking transactions.
By all accounts it was a very successful year, if not the most successful in our 82-year history.
Those results are all the more impressive when considering we began 2021 with a formidable task – initiating one of the largest and most complex mergers in credit union history. The assimilation of hundreds of systems, thousands of processes, and hundreds of thousands of products and services was not without bumps in the road. To those members that experienced service disruption during this time, we thank you for your patience and your continued dedication to TruStone Financial. Getting past integration and back to business was a massive effort, one that we achieved with strong leadership, dedicated employees, and a clear mission. Regarding the latter, in early 2021 your board of directors revisited TruStone’s Mission Statement. It was important to us, as a recently merged entity ourselves (we are comprised of legacy board members from both credit unions) that we had alignment on our purpose. The outcome of that exercise is as follows:
As a credit union, we are called upon to put our members first. We are dedicated to your financial wellness. Our members recognized this in 2021 and more of you than ever chose TruStone as your primary financial institution. But, as our mission clearly states, this is a relationship we intend not just for the duration of your car loan or your certificate of deposit. The commitment we make to our members is for life.
On behalf of your volunteer board of directors, we appreciate the trust you have put in us. It is our honor to serve you, and we are committed to help guide TruStone toward the fulfillment of our mission.
Respectfully submitted,
Our Mission
We engage, educate, and inspire our members to achieve lifelong financial well-being.
