TruStone Financial Credit Union
TruStone Financial Credit Union is headquartered in Plymouth and is the 2nd largest credit union in the state of Minnesota. It is also the 68th largest credit union in the nation. It was established in 1939 and as of December of 2024, it had grown to 529 employees and 216,356 members at 25 locations. TruStone Financial Credit Union has an A health rating.
Field of Membership Restrictions
TruStone Financial Credit Union is open to anyone who lives in the Minnesota counites of Anoka, Carver, Chippewa, Chisago, Dakota, Goodhue, Hennepin, Isanti, Le Sueur, McLeod, Meeker, Nicolet, Ramsey, Redwood, Renville, Rice, Scott, Sherburne, Sibley, Stearns, Wabasha, Washington, Wright, or Yellow Medicine (including the community of Atwater), as well as the Wisconsin counties of Kenosha, Pierce, St. Croix, Racine, or Milwaukee. Membership is also available to employees/retirees of TruStone employer groups and education communities.
See current membership details
Great Customer Service, Board Of Directors Grumpy
Trustone is a good credit union as a customer. Staff are friendly and knowledgeable. The benefits of membership keep getting better. Their no-annual fee visa signature card went from 1.0% to 1.5% cashback on every purchase starting 2019. Also offers no international fees on foreign currency transactions abroad while traveling. Very few fees. Outbound external transfers are free, Trurate (high-interest) checking account holders get two free books worth of personal checks per year.
When it comes to voting matters such as their recent merger with Firefly credit union in 2020-2021, the board and the directors wouldn't provide any details about the merger. They seemed so enthusiastic about it, when it made little sense to members of either credit union. Then it turned out Firefly CU's management were all getting sweetheart $250,000 retention bonuses! Didn't like that Trustone staff who are also members get voting rights as well. Whole mail-in ballot process did not feel open and transparent. Less than 10% of existing members voted to begin with.
Staff and lawyers are the only ones who win in a merger of two perfectly healthy credit unions. Just like with publicly traded companies...
https://beta.regulations.gov/document/NCUA-2020-0110-0001/comment
If you try to get involved as a member on the board of Trustone, good luck! They are unfriendly and arrogant. They don't like being contacted by members who are eager to learn how credit unions operate compared to banks. Trustone management (who are employees) is friendly enough.
THIS PARTICULAR CREDIT UNION IS TOTAL NONSENSE
Avoid this particular credit union at all costs. Worst banking experience ever. The people who work there like to give you the runaround. I applied for membership nearly four weeks ago. After three weeks from the date of application, I was told via email that I will have to visit a branch to complete the application process. Once I did, I was told that I would have to provide tax statements and paystubs. I made an appointment to do this four days later. The next day (less than twenty-four hours after visiting the branch), I received an email from the branch stating that my membership application was declined and that I will have to wait for a letter with additional information. It seems like dealing with this particular credit union is nothing but racket and trouble and is not recommended. Save yourself some time and hassles by visiting a credit union that communicates with applicants and members, that is fair to all persons, that is willing to serve you, and that makes you feel welcome.
Love The Cudahy Branch
I am truly impressed with the service and hospitality at the south shore branch office.
I am always greeted by name, never rushed, and given full explanations to my questions. The tellers are courteous and friendly.
The other week I was in doing my banking when a young, rude guy was ahead of me. Evidently he couldn't get his way. It seems like he had been told previously he couldn't deposit a check into a specific account and came back to try again. He got loud, rude, and swore at the teller. Several of us in line were close to confronting him, but from a rear office the branch manager heard the commotion, and intervened. He stepped in front of the teller to shield her, and informed this guy that he will not raise his voice and swear at the employees. This guy whined about needing to have his transaction completed immediately because he was leaving the country the next day.
Well buddy, plan ahead, and treat people/workers with respect! Hope you're stuck in the country you were headed to...
HEARTLESS CREDIT UNION
called in to make payment in aug. 2022 customer service gave me the methods to handle that over the phone through ACH. I called again in Sept. 2022 to make payment; again they took it and thanked me. 10/8/22 I get a call from branch stating I am 60 days past due. I call my bank; they never took the payments. I call Trustone back and the person states she sees where i called and made the payments, why am i past due then. It took 2 days and countless managers to figure out my account has a restriction on it which hinders ACH payments; so why did customer service offer this to me I asked. Manager figured out how to remove it and take the payment but told me it is my place to contact reporting credit Bureaus and it took my score down 128 points. AVOID TRUSTONE LIKE THE PLAGUE
Data as of Q4 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 68722 |
| Year Chartered | 1939 |
| Employees | 529 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.04% |
| Return on Equity - YTD | 10.7% |
| Annual Interest Income | $280.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2024vs Q4 2023 | $5.42B$5B |
| Loans | Q4 2024vs Q4 2023 | $3.92B$3.78B |
| Deposits | Q4 2024vs Q4 2023 | $4.23B$3.93B |
| Equity Capital | Q4 2024vs Q4 2023 | $522.2MM$459MM |
| Loan Loss Allowance | Q4 2024vs Q4 2023 | $29.8MM$27MM |
| Unbacked Noncurrent Loans | Q4 2024vs Q4 2023 | $36.4MM$12.2MM |
| Real Estate Owned | Q4 2024vs Q4 2023 | $0$43K |
