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 membership and ties to northern Minnesota. In selecting the name, the board of directors of the credit union noted that the new designation combines elements of “True North, ” and “Star of the North.”
Trustar Federal Credit Union is a credit union located in International Falls, MN.