PLYMOUTH, Minn. (March 29, 2017) – TruStone Financial Federal Credit Union, Minnesota’s third largest credit union, was named one of the 50 top-performing U.S. Credit Unions in 2016, according to S&P Global Market Intelligence. The Minneapolis-based credit union was ranked 34th on the list of 508 credit unions which met the required criteria for ranking.
S&P Global Market Intelligence is a leading provider of financial and industry data, research, news and analytics to specific industries and companies that comprise those markets. S&P Global Market Intelligence ranked the nation’s credit union using five core financial performance metrics. Those metrics include member growth, market growth, operating expense as a percentage of operating revenue, net charge-offs as a percentage of average loans and delinquent loans as a percentage of total loans.
TruStone Financial took top honors in Minnesota amongst these metrics with 11.8% membership growth, 10% market growth, 75% operating expense as a percentage of operating revenue, .15% net charge-offs as a percentage of average loans and .21% delinquent loans as a percentage of total loans. The credit union is in good company, beating out #1 Idaho Central Credit Union by more than .18% in the total delinquent loans/total loans category.
“I am honored to have TruStone Financial recognized amongst some of the largest, most successful credit unions in the United States,” said Tim Bosiacki, Chief Executive Officer. “From the Board of Directors to our front-line staff, this nod from S&P Global Market Intelligence is an affirmation to what we are building and signifies our members can be confident in their credit union.”