Minnesota’s TruStone Financial CU Picks Up Another Ailing CU

PLYMOUTH, Minn. – TruStone Financial CU will get a branch in nearby Cudahy, Wis., with the merger of Ladish Community CU, the third merger of a troubled credit union for $860-million TruStone in the last three years.

Ladish Community has $13 million in assets. It reported a $336,000 loss for 2012 and has reported losses for each of the past five years. The deal follows TruStone’s acquisitions of failed A M Community CU, in Kenosha, Wis., last year, and of Ukrainian CU in Minneapolis in 2011.