When Tim Bosiacki became CEO of TruStone Financial Federal Credit Union in 2010, he received a clear directive. The board – which had recently changed the name of the credit union from Teacher Federal Credit Union in order to better reflect its broad field of membership – wanted him to aggressively grow the organization's market share, asset size, and brand recognition.
Since Bosiacki's arrival, the assets of the Plymouth, Minn.-based institution have nearly doubled to $1.2 billion. The ranks of its membership have swelled from 56,000 to more than 106,000 members. And, its footprint has grown from five branch locations in the Twin Cities to now 14 branch locations through Minnesota and eastern Wisconsin.
These dramatic changes for TruStone Financial reflect Bosiacki's directive from the board of directors: Run it like a business.
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