The $1.1 billion-asset TruStone Financial Federal Credit Union, based in Plymouth, Minn. serving nearly 100,000 members has announced that the 327 members of the Kenosha, Wisc.-based Kenosha Postal Employees Credit Union have voted to merge with TruStone effective Sept. 10 of this year.
TruStone's reach extends throughout the Midwest with 13 branches located in Minnesota and Wisconsin, enabling them to handle the load of a Wisconsin membership.
"The existing TruStone Financial footprint across Wisconsin provides a number of communities with innovative banking technology and essential financial solutions," said Chief Executive Officer Tim Bosiacki. "We are thrilled to have the opportunity to deepen our relationships in the Kenosha community and offer our unique products and services to serve more members than ever before."
Kenosha Postal Employee's Board Chair Patrick Neis cited the increased demand for technology-based services and convenience as one of the motivations behind the merger, as well as being able to offer additional benefits to members.
"Our members will now have access to a full-service financial institution, offering an expanded product line and online services, while continuing to strengthen the relationships we have built within our community," he said.
TruStone said the merger has been "months in the making," and they worked with KPECU throughout the process to establish a mutual beneficial deal.
"On behalf of the board of directors, leadership and employees, I am pleased to welcome the members of Kenosha Postal Employees Credit Union to TruStone Financial," TruStone's Financial Board Chair Tom Alagna said.
TruStone had expanded this year when it merged with two other Wisconsin-based CUs, Southshore Credit Union of Cudahy and First Credit Union of Oak Creek.
