PLYMOUTH, MN--(Marketwire - Mar 1, 2013) - TruStone Financial Federal Credit Union, based out of Plymouth, Minnesota, announced today that it has reached an agreement with Ladish Community Credit Union (LCCU) of Cudahy, Wisconsin to merge operations. Both TruStone Financial and LCCU Board of Directors unanimously approved a merger of the two credit unions at their last meeting.
"We are extremely pleased to welcome Ladish Community Credit Union members, employees and supporters to the TruStone family," said Chief Executive Officer Tim Bosiacki. "As our two organizations combine, LCCU members will continue to experience the exceptional member service and friendly faces they are accustomed to with no service interruptions."
Together with LCCU, TruStone Financial will have an estimated $861 million in assets, nearly 81,000 members worldwide and 13 branch locations across Minnesota and Wisconsin. "The addition of LCCU allows TruStone Financial to continue to expand our geographical footprint into eastern Wisconsin, while giving members additional conveniences, enhanced service and product offerings," said Bosiacki.
"With the rapidly increasing demand for technology and convenience, and growing regulatory burdens, a merger with TruStone Financial is the ideal solution for our membership," said Al Zdrojewski, Board Chair at LCCU. "With the combined resources, we are able to expand our product line, reduce costs, and further strengthen the financial relationship with our members and community."
The announcement of this merger is TruStone Financial's third merger/acquisition in three years. The credit union most recently acquired the assets of A M Community Credit Union (AMCCU) in Kenosha, Wisconsin August 2012 and merged with Ukrainian Credit Union of Northeast Minneapolis in May 2011.
TruStone Financial members will be able to access their accounts at the new credit union location in Cudahy, a suburb of Milwaukee, once a system conversion is completed. Both credit unions will operate under the banner TruStone Financial Federal Credit Union beginning April 1, 2013.
About TruStone Financial
TruStone Financial Federal Credit Union (formerly Teacher Federal Credit Union) founded in 1939, has assets exceeding $847 million and more than 78,000 members at 12 branch locations throughout Minnesota and Wisconsin. The credit union is headquartered in Plymouth, Minnesota. More information can be found at www.TruStoneFinancial.org.
About Ladish Community Credit Union
Ladish Community Credit Union was founded in 1936 as Ladish Employees Credit Union, serving Ladish Co., Inc., workers in Cudahy, Wisconsin. In 1992, the credit union received a community charter. LCCU has more than $13 million in assets and nearly 2,400 members at one branch location in eastern Wisconsin.