PLYMOUTH, Minn. — TruStone Financial FCU announced it has surpassed the $1 billion mark in assets.
The milestone came at the close of Q1, making TSFFCU one of Minnesota's largest financial institutions. To celebrate, TruStone is hosting a "Thanks a Billion" event for members at all TruStone Financial branches later this month.
The lift in assets is the result of a 55% increase in assets over the last four years, fueled largely by year-over-year double-digit growth in lending. Since 2010, TruStone Financial's lending portfolio has grown by more than 80%.
Along with all of that, the CU also worked to improve its credit quality and delinquency ratios. The CU's delinquencies now stand at just 0.26%, and after a steady rise, its net worth ratio is currently 9.70%. Investment performance is also up, and TruStone claims to be the only federal credit union with assets of $1 billion or more to see an investment yield of 2.7% or more for each of the last six years.
"Surpassing the billion dollar threshold validates our mission as an organization," CEO Tim Bosiacki said in a statement. "Advancing the credit union during an unprecedented and volatile market is a testament to the commitment of this organization and the continued mission to challenge traditional banking."
TruStone also recently broke ground on a new branch that it expects to open this fall, and — thanks to mergers during recent years — the CU has expanded from six branches in one state to 11 branches spread across two states.