SOURCE: TruStone Financial

TruStone Financial

May 04, 2011 14:57 ET

TruStone Financial to Merge With Ukrainian Credit Union

PLYMOUTH, MN--(Marketwire - May 4, 2011) - TruStone Financial Federal Credit Union, based in Plymouth, Minnesota, announced today that it has reached an agreement with Ukrainian Credit Union of Minneapolis, Minnesota to merge operations pending approval from the NCUA in mid-summer, 2011. Both the TruStone and Ukrainian Board of Directors unanimously approved a merger of the two credit unions at their last meeting.

"We have found a credit union that shares our values, dedication to members and employees, and mission in providing simple and fairly priced financial tools," said Tim Bosiacki, CEO of TruStone. "We are excited for the Ukrainian Credit Union membership to join the TruStone family." Both credit unions will operate under the banner TruStone Financial Federal Credit Union.

TruStone will have eight branch locations across the Twin Cities to offer enhanced convenience to the communities and current members. "The addition of the Ukrainian Credit Union location will allow us to expand our cultural diversity within our membership, our geographical footprint, and extend our services to Northeast and downtown Minneapolis area," said Bosiacki.

On the corner of Main Street NE and 3rd Avenue NE, inside the Ukrainian Event Center, Ukrainian Credit Union is located at 301 Main Street NE, in historic Northeast Minneapolis. TruStone members will soon be able to access their accounts at the new credit union location.

"This merger will benefit both Ukrainian Credit Union and TruStone members. We will be able to expand our product line, reduce costs, and further strengthen our financial value and relationship," said Oksana Bryn, President of Ukrainian Credit Union. "Further, TruStone will be able to serve their members in the Northeast Mi nneapolis area." Bryn will play a crucial role in transitioning the credit union to TruStone Financial and stay on as the Branch Manager of the Northeast Minneapolis location.

About TruStone Financial
TruStone Financial Federal Credit Union (formally Teacher Federal Credit Union) which was founded in 1939, has $664 million in assets and nearly 57,000 members at eight branch locations throughout Minnesota. The credit union is headquartered in Plymouth, Minnesota.

About Ukrainian Credit Union
Ukrainian Credit Union was founded in 1968 to provide sound financial information and opportunities to the Ukrainian community. Their membership base includes Ukrainian, Eastern European, and American members. They have $6 million in assets and over 1,245 members.

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