Wednesday, May 6, 2020

Merger Would Create $3 Billion CU

Firefly Credit Union (Burnsville, MN) and TruStone Financial Federal Credit Union (Plymouth, MN) on May 5 announced their intent to merge subject to regulatory approval and a member vote.

TruStone Financial FCU has almost $1.6 billion in assets at the end of 2019.

Firefly CU has $1.4 billion in assets.

In conjunction with the merger, TruStone Financial will switch from a federal to a state charter.

TruStone Financial stated that as a state-chartered credit union it will have greater ability to expand into new counties throughout Minnesota and Wisconsin.

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