History & Leadership

History

TruStone Financial Federal Credit Union began with a group of eight Minneapolis teachers who decided the best way to have financial security was to help each other. Our Certificate of Organization was applied for on June 18, 1939. On September 21, 1939 TruStone Financial opened for business.

Membership grew slowly in the early years. From 1939 to 1949, the first 100 members joined with assets of $15,000. In the next ten years membership grew to 1,000 with $500,000 in assets. Today, TruStone Financial serves the financial needs of over 58,000 members with assets of more than $600,000,000.

Leadership

As a financial cooperative, TruStone Financial is owned by you, the members. An elected Board of Directors guides your credit union with a Board-appointed Supervisory Committee and Associate Directors. All are volunteer positions.

The Board of Directors has responsibility for directing and controlling the affairs of the credit union and providing effective and efficient management of the credit union's operations.

The Supervisory Committee has responsibility for making an audit at least annually and to verify the accounts of the members with the records of the financial officer at least once every 2 years. In addition, the committee is responsible for reviewing the performance of the officials and employees and making recommendations to the Board of Directors for improvement in the operations of the credit union.

Volunteer Opportunities

TruStone Financial Federal Credit Union invites members interested in volunteer positions at TruStone Financial to apply for volunteer positions on the Board of Directors, Supervisory Committee or Associate Directors. These positions are unpaid yet very rewarding as they allow you the member to play a part in the Credit Union Movement.

TruStone Financial's Seven-Member Board

Three members are elected annually for three-year terms. The Board of Directors is responsible for setting policies and the direction of the credit union. Meetings are held monthly and there are occasional strategic planning and/or special sessions. Election results are announced at the Credit Union Annual meeting. The next annual meeting is scheduled for August 25, 2010.

TruStone Financial's Three-Member Supervisory Committee

The Supervisory Committee is responsible to ensure that the credit union manages its assets in a sound, safe and fiscally-responsible manner. This Committee also ensures that the certain regulations, policies and procedures governing the Credit Union are followed. The Supervisory Committee members are appointed by the Board of Directors for a three-year term and can be re-appointed.

Associate Directorship

The Associate Directorship is a unique program for volunteers to participate in Board meetings and functions. This position is a non-voting position on the board. Associate Directors serve two-year terms.

Each of these positions requires that you are at least 18 years of age, a member of the credit union, and are bondable. TruStone Financial Board is interested in volunteers who can augment the expertise of the Board, Supervisory and Associate Director programs.

Board of Directors (Year Started Service)

  • Steve Bohlig, Chair (1998)
  • Fred Sulzbach, Vice Chair (1967)
  • Tom Alagna (1994)
  • Roger Cersine (1970)
  • Tamra Matsuda (2003)
  • Darrick Metz (2008)
  • Phil Young (2008)

Supervisory Committee (Year Started Service)

  • Kevin Gilles (2007)
  • Doug Nesbit (2007)
  • Michelle Hayden (2009)

TruStone Financial Management (Year Started Service)

  • Sherri Stumpf, Interim CEO (2008)
  • Lisa Palma, VP, Member Services (1997)
  • Bev Nowacki, VP, Operations (1985)
  • Stephen Spears, SVP, Diversified Services (2009)
  • Jeff Williamson, VP, Mortgage Lending (2009)
  • Robert Thompson, VP, Information Technology (2009)
  • Daniel Zaczkowski, Chief Financial Officer (2009)