A message from your CEO, Tim Bosiacki
It has been my great honor to serve as the chief executive officer at TruStone Financial for the last ten years. Because of your loyalty and support, your neighborhood credit union is financially strong, well-managed, and diligently governed by the volunteers who serve on our board of directors.
We’ve accomplished much together, including expanding into Wisconsin, growing to more than $1.6 billion in assets, and surpassing 80 years of outstanding service to you, our members. It truly has been a decade of milestones, and I’m excited to tell you that we’ll share two more yet this year!
The time has come to announce my retirement from TruStone Financial. It has long been my plan to retire in January 2021, and I’m proud that TruStone Financial will be the pinnacle of my long career in financial services. Thank you for making that possible.
My second announcement is even more exciting: the Board of Directors has voted to approve a merger with Firefly Credit Union. For the past several months, we’ve been working side by side with Firefly’s board and its President and CEO, Dale Turner, to assess the value of this partnership. During our work together, one thing became more and more evident: our two organizations are, simply put, better together.
Unlike a traditional bank merger, this is not a buyout or acquisition. Instead, this represents a truly collaborative partnership between two financially healthy credit unions committed to their members. The phrase “better together” is a perfect adage. Together our 190,000+ members would have more branch locations, enhanced services, and improved technology.
Firefly and TruStone share similar values, philosophies, and commitment to community. We both believe passionately in providing competitive value and extraordinary experiences to our members. Together, as TruStone Financial, we will remain committed to these same principles. Upon my retirement and the completion of the merger, Dale Turner will be named president and chief executive officer of the combined organization.
We know you will have questions during this process, and we will keep you informed in the months to follow. We’ve included answers to a few common questions regarding the merger below. If you have additional questions after reviewing, please contact us at 1.800.862.1998.
Chief Executive Officer
TruStone Member Frequently Asked Questions
How would this partnership benefit TruStone Financial members?
What does this merger mean?
Why has TruStone decided to pursue a merger?
What are the advantages of being a larger credit union?
Who is Firefly Credit Union?
What would the new name be?
Who would lead the new organization?
Would I continue to get the same service and attention?
How would my accounts be affected?
Would my rates change?
Would my accounts continue to be insured?
Would you close branches?
Why was TruStone Financial Credit Union selected as the name?
Why is TruStone Financial converting from a federal to a state-chartered credit union?
Do TruStone members have to approve TruStone's change from a federal to state charter?
Would my voting rights as a member change based on a state charter?
Under a state charter, can you still be a member if you move outside the eligible service area?
How would this merger benefit credit union employees?
What is the merger timeline?
Would there be new branch locations?