TruStar Federal Credit Union is best in its class, according to Callahan and Associates, a Washington D.C. based credit union research and consulting firm.
TruStar was recognized as a “Best in Class Performer” in the category of 12-month member business loan growth in Callahan and Associates “2008 Credit Union Directory.”
TruStar ranked 14th in the country among the thousands of credit unions whose assets exceed $20 million, according to the directory. TruStar’s business loans during the 12-month period ending in June, 2007, grew at 311 percent, Callahan reported. Peer average for the credit union industry during the same period was 19.21 percent. Callahan and Associates is the industry-leading educational and reporting resource for the United States’ 8,410 credit unions.
In the previous year, TruStar was singled out as an industry leader in both growth — fifth in the state of Minnesota — and financial strength as measured by the capital-to-assets ratio. In terms of asset size, TruStar was listed as the 14th largest credit union in Minnesota in the directory.
“We are gratified to be recognized nationally for the foresight and resourcefulness of our board of directors, supervisory committee, management team and staff,” noted TruStar President Dale Johnson, who said he learned of the credit union’s most recent distinction with the release of the new directory. “We are proud of this honor, and of the member loyalty that it represents,” he said.
“However, it is even more important to us to know that our business members look to us first as a partner as they complete their growth and development plans and seek solutions to their business needs,” Johnson said. “Our strength is with our members, and we measure our success one satisfied member at a time.”
TruStar Federal Credit Union is a member-owned financial cooperative that provides banking and insurance products to its 11,000 members. TruStar is headquartered in International Falls and serves a growing base of members in Big Falls, Park Rapids and Menahga and surrounding communities at branch locations.
TruStar Federal Credit Union
601 Fourth Street
International Falls, MN 56649
