{"id":406254,"date":"2020-12-29T11:23:42","date_gmt":"2020-12-29T16:23:42","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=406254"},"modified":"2020-12-29T11:23:42","modified_gmt":"2020-12-29T16:23:42","slug":"trustone-financial-credit-union-and-firefly-credit-union-merger-approved","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/trustone-financial-credit-union-and-firefly-credit-union-merger-approved\/","title":{"rendered":"TruStone Financial Credit Union and Firefly Credit Union Merger Approved"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"left\">PLYMOUTH, Minn., Dec.  29, 2020  (GLOBE NEWSWIRE) &#8212; Members of Firefly Credit Union have cast their votes in approval of a merger with TruStone Financial Credit Union. The merger \u2013 proposed last spring \u2013 had previously received board and regulatory approval before advancing to a member vote. More than 11,000 ballots were cast, and the outcome was overwhelming support of the initiative known as <strong>Better Together<\/strong>.<\/p>\n<p>Throughout the campaign, both credit unions addressed the many positive results of the merger \u2013 increased branch locations, improved products and services, and greater investments in technology. Members will begin to see signs of those changes as early as January, but full integration is not planned until March of 2021. For now, members are being advised to conduct business just as they did prior to the vote. Any changes to accounts and services will be directly communicated well in advance of the March integration.<\/p>\n<p>The combined credit union will operate under the TruStone name. It will grow to $3.4 billion in assets and will serve nearly 200,000 members in the Minneapolis\/St. Paul community, the St. Cloud area and Milwaukee, Wisconsin area.<\/p>\n<p>\u201cWe share our members\u2019 excitement for this truly collaborative merger,\u201d said Dale Turner, Firefly President\/CEO and President\/CEO of the future organization. \u201cWe\u2019re taking the best of two outstanding institutions and making it even better for our members.\u201d<\/p>\n<p>Retiring TruStone CEO Tim Bosiacki agrees. \u201cFrom the beginning, this has been a mission focused on our members \u2013 giving them better products, more branches, and increased value. It is tremendous to see that mission realized.\u201d<\/p>\n<p>TruStone Financial Credit Union is now the second-largest financial cooperative in Minnesota, and among the top 100 in the nation. The merger is one of the largest of its kind in the credit union industry, and was recently hailed by GonzoBanker.com as 2020\u2019s \u201cCredit Union Merger of the Year.\u201d<\/p>\n<p>More information regarding the merger can be found on both TruStone Financial\u2019s and Firefly Credit Union\u2019s websites at <a href=\"http:\/\/trustonefinancial.org\/\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">trustonefinancial.org\/<\/a><a href=\"http:\/\/trustonefinancial.org\/\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">bettertogether<\/a> and <a href=\"http:\/\/www.fireflycu.org\/\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">fireflycu.org\/<\/a><a href=\"http:\/\/www.fireflycu.org\/\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">bettertogether<\/a>.<\/p>\n<p>\n        <strong>About TruStone Financial<\/strong>\n      <\/p>\n<p>TruStone Financial is a full-service credit union that has worked to improve the financial well-being of its neighbors for more than 80 years. Having been founded as a teachers\u2019 credit union, one of TruStone\u2019s core values is education. It strives to teach its members healthy financial habits, and its mission is to offer simple, convenient tools and great rates to help them reach their goals. It has 14 branches across Minnesota and Wisconsin and is Minnesota\u2019s third largest credit union, with assets of $1.85 billion as of November 30, 2020. They serve about 110,000 members and employ approximately 330 team members. TruStone was named one of the 50 top-performing U.S. Credit Unions in 2019 by S&amp;P Global Market Intelligence and a Best-In-State credit union by Forbes magazine in 2020.<\/p>\n<p>\n        <strong>About Firefly Credit Union <\/strong>\n      <\/p>\n<p>Firefly Credit Union is Minnesota\u2019s first member-owned, not-for-profit financial cooperative, founded in 1925 by Minneapolis postal employees. Today, Firefly serves members in the Greater Twin Cities Community<sup>SM<\/sup> by fulfilling their mission to inspire members to achieve lifelong financial well-being. Firefly has 9 branches in the Twin Cities with assets of $1.59 billion as of November 30, 2020. They serve about 85,000 members and employ approximately 270 team members. Firefly earned the Best-In-State Credit Union designation by Forbes Magazine and the Star Tribune\u2019s Top Workplaces designation in 2019.<\/p>\n<p>Photos\u00a0accompanying this announcement are available at<br \/><a href=\"https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/e12890b9-80e0-436c-b1fa-6cf4903ed0bd\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/e12890b9-80e0-436c-b1fa-6cf4903ed0bd<\/a><\/p>\n<p>\n        <a href=\"https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/9f983a2e-f32c-4712-badb-2841a6446513\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/9f983a2e-f32c-4712-badb-2841a6446513<\/a>\n      <\/p>\n<p>\n        <strong>Contact: <\/strong>Jessica Richardson-Isenegger<br \/>Infusion Group <br \/> (734) 552-5192<br \/>jessica@in-fusiongroup.com<\/p>\n<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExODUwNiMzODk4ODM3IzIwOTA3NTg=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/d482df3a-ad33-49f1-b5cf-45f36bf290f5\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>PLYMOUTH, Minn., Dec. 29, 2020 (GLOBE NEWSWIRE) &#8212; Members of Firefly Credit Union have cast their votes in approval of a merger with TruStone Financial Credit Union. The merger \u2013 proposed last spring \u2013 had previously received board and regulatory approval before advancing to a member vote. More than 11,000 ballots were cast, and the outcome was overwhelming support of the initiative known as Better Together. Throughout the campaign, both credit unions addressed the many positive results of the merger \u2013 increased branch locations, improved products and services, and greater investments in technology. Members will begin to see signs of those changes as early as January, but full integration is not planned until March of 2021. For now, members are &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/trustone-financial-credit-union-and-firefly-credit-union-merger-approved\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;TruStone Financial Credit Union and Firefly Credit Union Merger Approved&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-406254","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>TruStone Financial Credit Union and Firefly Credit Union Merger Approved - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/trustone-financial-credit-union-and-firefly-credit-union-merger-approved\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TruStone Financial Credit Union and Firefly Credit Union Merger Approved - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PLYMOUTH, Minn., Dec. 29, 2020 (GLOBE NEWSWIRE) &#8212; Members of Firefly Credit Union have cast their votes in approval of a merger with TruStone Financial Credit Union. The merger \u2013 proposed last spring \u2013 had previously received board and regulatory approval before advancing to a member vote. More than 11,000 ballots were cast, and the outcome was overwhelming support of the initiative known as Better Together. Throughout the campaign, both credit unions addressed the many positive results of the merger \u2013 increased branch locations, improved products and services, and greater investments in technology. Members will begin to see signs of those changes as early as January, but full integration is not planned until March of 2021. 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The merger \u2013 proposed last spring \u2013 had previously received board and regulatory approval before advancing to a member vote. More than 11,000 ballots were cast, and the outcome was overwhelming support of the initiative known as Better Together. Throughout the campaign, both credit unions addressed the many positive results of the merger \u2013 increased branch locations, improved products and services, and greater investments in technology. Members will begin to see signs of those changes as early as January, but full integration is not planned until March of 2021. 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