Our mission: Building Valued Relationships Through Banking Solutions
TruStar was founded in 1960 by paper mill employees in International Falls who were looking for a way to secure good rates on loans and competitive dividends on their savings. They each tossed five dollars in a hat to form the credit union’s first assets! First known as Mando Employees Credit Union, the credit union name later changed with the purchase of Minnesota and Ontario Paper Company by Boise Cascade.
Paper mill employees and their families remained the credit union’s only field of membership until 1985, when Koochiching County and government employees were added, followed by a succession of other employee groups. In September 1999, Boise Employees Credit Union became a federally-chartered credit union.
In 2002, the credit union merged with the 70-year-old Menahga Co-op Community Credit Union at the invitation of the Menahga credit union membership. In June 2003, the credit union name was changed to TruStar to reflect changes in the field of membership and the member's perception of the credit union. It combines the common themes found: Trust and Star performance.
Another location opened in a newly-constructed facility to serve the adjacent community of Park Rapids in July 2003, followed by the dedication of a new building in the Menahga community in the summer of 2005. TruStar merged with Headwaters Federal Credit Union of Bemidji and Park Rapids at the recommendation of its board of directors at a special membership meeting, and the merger became final in October 2008. TruStar management quickly set to work on plans for construction of a new building in Bemidji’s west business community, and it opened in March 2010. Later that year, TruStar purchased a building on Littlefork’s Main Street to serve its many longtime Littlefork-area members.
In the past few years, TruStar has been recognized by its industry peers and by civic organizations for its financial strength, strategic growth, commitment to the communities it is privileged to serve, and for the quality of its leadership. With assets in excess of $200 million, TruStar is headquartered in International Falls and serves a growing base of members with additional locations in Menahga, Park Rapids, Bemidji and Littlefork.Go to main navigation