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A Letter from your CEO, Tim Bosiacki

January 22, 2021

Dear members,

I write this letter with a mixture of emotions, as it is my last day as the CEO of TruStone Financial. In a few short weeks, I will retire after having led our great credit union since the summer of 2010. I am tremendously grateful that the board of directors gave me this opportunity, enormously proud of the hard work of our employees during my tenure, and constantly thankful for your unwavering support over the last ten years. I could not have asked for a better way to finish my 35 year career in financial services than with the job that I have.

Tim Bosiacki

When I joined, TruStone Financial had 5 branches, $650 million in assets, and about 60,000 members. As of November 30, 2020, we had 14 locations across two states, more than $1.85 billion in assets and more than 100,000 members. By the time you receive this newsletter, we will be Minnesota’s second largest credit union with 23 branches, $3.6 billion in assets and almost 200,000 members because of our merger with Firefly Credit Union. But, while the numbers are impressive, it has always been our top priority to provide our members with an outstanding experience that allows them to achieve financial wellbeing. Our growth has always been with the purpose of making it easier to serve you better—with better products, great rates and more convenience.

A year ago, I was just starting to plan for my retirement, and we were just beginning merger discussions with Firefly. It would be an understatement to say that 2020 ultimately presented challenges no one foresaw and which have touched every one of us in powerful ways. But, in traditional TruStone fashion, we faced those challenges head on. Our employees have worked tirelessly to minimize service disruption to you, and you have been very understanding of the service adjustments we implemented to keep you and our employees safe. Moreover, thanks in large part to our booming home mortgage division, 2020 ended up being a year of record income and asset growth. We also introduced a streamlined digital banking experience, and we made S&P Global Market Intelligence’s list of the 50 top-performing U.S. credit unions as well as Forbes’ list of the best credit unions in Minnesota.

It is hard to believe that it has been eight months since we announced the merger with Firefly Credit Union. The staff at TruStone and Firefly have spent the year working diligently to prepare for the merger and make the transition smooth and successful. We are excited to welcome our new members and to integrate the boards of directors and staff from the two credit unions. It is my pleasure to pass the reins to TruStone Financial’s new president and CEO, Dale Turner, who formerly held this position at Firefly. Dale has an impressive resume in financial institution leadership, and the board of directors and I know the credit union will be in good hands with him.

It has been an honor to serve you and to lead TruStone Financial. To our board of directors, to our employees, and to you, I offer a sincere and heartfelt thank you.


Tim's Signature

Tim Bosiacki,

CEO from August 2010–January 2021

Thank you, Tim, for a decade of leadership

Tim Bosiacki

Tim in front of the branch photo wall at the Corporate Center in Plymouth, MN.

Tim Bosiacki

Tim talking to members at the 2019 Annual Meeting.

Tim Bosiacki

Tim and board member Tom Alagna at the Boone Avenue branch groundbreaking ceremony in 2015.

Tim Bosiacki

Wisconsin All-Staff Meeting 2019