Firefly Credit Union

What Firefly Credit Union does

Firefly Credit Union is a member-owned cooperative financial institution providing full-service consumer and business banking. Founded in 1925 and headquartered in Burnsville, Minnesota with 251–500 employees, the institution operates as a federally NCUA-insured credit union (NMLS #523134, Routing #291075080). Its product set spans deposit accounts (checking, savings, money market, certificates, HSA, IRA), consumer lending (auto, boat, motorcycle, RV, personal, student, adoption, mortgage, home equity/HELOC), credit cards (consumer Visa including a share-secured option, business Visa), commercial lending (commercial property, construction, aircraft), and wealth and insurance via Guided Wealth Portfolios, advisor-led planning, and partner-distributed Medicare/insurance products.

Underlying technology is a multi-vendor digital stack rather than a proprietary platform. Account opening runs on MeridianLink (access.meridianlink.com), consumer loan origination on an in-house portal (loans.trustonefinancial.org), mortgage applications on a dedicated funnel (applymortgage.trustone.org/homehub), student loans on SparrowFi, and insurance/warranty on TruStage. The consumer-facing digital banking experience at online.trustonefinancial.org and its mobile app exposes balance checks, mobile check deposit, transfers, bill pay, P2P send/receive, card on/off controls, transaction alerts, spending and budgeting tools (TruStone Financial Tracker), credit monitoring with change alerts (MyCredit), and identity-theft protection (ID Protect).

The business model is a standard credit-union net-interest-margin engine: net interest income on a diversified consumer and commercial loan portfolio less interest paid on member deposits, supplemented by interchange on the Visa credit-card portfolio, overdraft and service fees, mechanical-repair and GAP protection fees, insurance commissions, and managed-account fees from the digital wealth product. Member acquisition is omnichannel — branches, contact center, digital self-serve — with active acquisition promotions including a $500 new-checking bonus and a 4.99% APR home equity loan promo. Geographic footprint is Upper-Midwest-anchored (Minnesota) with multi-state product disclosures; ownership is cooperative with no parent company, no public listing, and no equity funding rounds.

Name

Firefly Credit Union

Legal name

TruStone Financial Credit Union

Website

https://fireflycu.org

Company type

Private

Founded year

1925

Operating status

Operating

Headcount range

251–500 employees

Short description

Firefly Credit Union is a member-owned, NCUA-insured cooperative founded in 1925 in Burnsville, Minnesota, offering consumer and commercial banking, lending, wealth, and insurance to retail and small-business members across the Upper Midwest.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (522130), Depository Credit Intermediation (5221), Savings Institutions and Other Depository Credit Intermediation (52218)

SIC

National Commercial Banks (6021), Savings Institution, Federally Chartered (6035), Savings Institutions, Not Federally Chartered (6036)

akta.pro primary industry

Fraud Operations & Financial Crime (Monitoring, Investigations, SAR/STR Support) (FSABALAJ)

akta.pro secondary industries

Account Verification & Ownership (AVS/AOV, micro-deposits, auth) (FSAGACAB), Government-Sponsored Enterprises (GSEs) & Government Mortgage Liquidity Providers (FSALAKAC), Employer-Sponsored / Payroll-Linked Personal Loans (Unsecured Installment) (FSAKAAAM), Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL), Agency (GSE) Multifamily Lending (FSALADAD), Motorcycle & Powersports Finance (FSAKADAG)

Keywords

• Retail banking services
• Consumer lending
• Mortgage lending
• Wealth management
• Business banking

Headquarters

HQ city

Burnsville

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Net interest income on loans: Revenue generated from interest charged on consumer and commercial loan portfolios: auto, boat, motorcycle, RV, personal loans/lines of credit, student loans, adoption loans, mortgages, home equity loans/HELOCs, commercial property, commercial construction, and aircraft loans.
2. Interest expense on deposits & borrowings: Interest paid on member deposit products (checking, savings, money market, certificates, IRAs, HSA, business accounts) is a core cost line for a credit union's net interest margin model.
3. Fee income on services & loans: Service charges, overdraft-program fees, mechanical repair coverage / GAP protection fees, and loan-related fees disclosed across checking, vehicle lending, and digital banking products.
4. Insurance commissions: Commissions from auto insurance and Medicare/insurance products offered through the Plan & Invest / Protect line (account access via myaccountviewonline.com).
5. Wealth & investment advisory fees: Revenue from Guided Wealth Portfolios and advisor-led investment services, plus managed-account fees typical of digital wealth offerings.
6. Interchange and credit card income: Income from Visa credit card portfolio (consumer and Business Visa), debit card rewards, balance transfer activity, and card-control driven spend.

Pricing tiers

Go-to-market motion2 records

Distribution channels8 records

Marketing channels7 records

Core offering

Firefly Credit Union is a member-owned cooperative financial institution providing personal and business banking solutions including deposit accounts (checking, savings, money market, certificates, HSA, IRA), consumer and commercial lending (auto, boat, motorcycle, RV, personal, student, adoption, mortgage, home equity, commercial property, construction, aircraft), credit cards, wealth advisory (Guided Wealth Portfolios), and insurance products across branch, online, and mobile channels.

Product overview

No information available about Firefly Credit Union's products and services in the provided source data. The source passage describes the offerings of TruStone Financial Credit Union, not Firefly Credit Union.

Differentiator

Problem solved

Functional benefit

Brands

• TruStone Alerts: Card and account alert notification service for transaction monitoring, controls, and security.
• TruStone Financial Tracker
• Guided Wealth Portfolios
• TruStone Foundation

Products and services

• Checking Accounts Personal and youth checking accounts for everyday banking, with direct deposit and overdraft program support. Includes debit card rewards and TruStone Alerts integration.
• Savings Accounts Personal savings products including money market accounts, certificates (CDs), Health Savings Accounts (HSA), and IRAs for individual and household members.
• Visa Credit Cards Consumer Visa credit cards with rewards, balance transfer capability, and a share-secured Visa option for members building or rebuilding credit.
• Auto Loans Vehicle financing for new and used cars with online loan origination through loans.trustonefinancial.org.
• Boat & Watercraft Loans Financing for boats and watercraft purchases.
• Motorcycle Loans Loans for motorcycle purchases.
• Recreational Vehicle Loans Loans for recreational vehicle (RV) purchases.
• Personal Loans & Lines of Credit Unsecured personal loans and revolving personal lines of credit for general consumer borrowing needs.
• Student Loans Student loan products originated via SparrowFi platform (trustonefinancial.sparrowfi.com) for higher education financing.
• Adoption Loans Specialized loans to finance adoption-related expenses.
• Mortgages Residential mortgage purchase and refinance loans with first-time homebuyer education and dedicated mortgage team.
• Home Equity Loans & Lines of Credit (HELOC) Fixed-rate home equity loans and revolving home equity lines of credit, with a promotional rate as low as 4.99% APR (3/1/26–8/31/26 application window).
• Guided Wealth Portfolios Digital/automated investment advisory offering under the Plan & Invest line for member portfolio management.
• Investment Services & Advisors Advisor-led investment services for members seeking personalized financial planning and investment guidance.
• Insurance Products Auto insurance, life insurance, and Medicare/insurance products offered through the Plan & Invest / Protect line, with account access via myaccountviewonline.com.
• Business Checking & Savings Accounts Business checking, savings, and booster club accounts for small and mid-size businesses, organizations, and community groups.
• Business Visa Credit Card Business-purpose Visa credit card for commercial spending and payments.
• Commercial Property Loans Loans for commercial real estate purchases by businesses, supported by a dedicated commercial lending team.
• Commercial Construction Loans Construction financing for commercial building projects.
• Aircraft Loans Specialized financing for business and personal aircraft purchases.
• Digital & Mobile Banking Online (online.trustonefinancial.org) and mobile banking platform with balance checks, mobile check deposit, transfers, bill pay, account management, P2P send/receive, card control, and TruStone Alerts.

Quantifiable outcome

• Home equity loan promotional rate as low as 4.99% APR (3/1/26–8/31/26)
• +3 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Five partnerships are on record, tiered core and minor.

• National Credit Union Administration (NCUA)coreOthersFederal regulator and deposit insurer. The credit union displays the "Federally Insured by NCUA" badge with a link to ncua.gov in the footer, signaling the regulatory and insurance relationship that underpins member deposits.
• VisacoreOEM/ Whitelabel/ Licensing PartnerCard network partner powering the credit union's consumer and business Visa credit card products, including secured Visa, balance transfer, debit card rewards, and ways-to-pay rails referenced across the site.
• MeridianLinkcoreTechnology or IntegrationAccount-opening technology provider. The "Open Account" menu links to access.meridianlink.com paths under trustonefcu_250227 for new checking, savings/money market, and certificate applications.
• U.S. Department of Housing and Urban Development (HUD)minorOthersRegulatory partner recognized via the Equal Housing Opportunity logo and link to hud.gov in the site footer.
• TruStone FoundationminorStrategic or Co-development PartnerAffiliated philanthropic arm featured in the footer "About Us" navigation, supporting community giving and the "TruStone in the Community" positioning.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Affinity Plus Federal Credit Union: Minnesota-headquartered member-owned federal credit union offering consumer and business banking, lending, mortgages, and wealth across the Twin Cities and broader Minnesota — directly comparable to Firefly/TruStone on geography, cooperative model, and product breadth.
• Wings Financial Credit Union: Minnesota-based member-owned credit union serving consumer and business banking needs with full-service deposits, loans, mortgages, and digital channels — comparable in scale, geography, and cooperative positioning to the subject.
• Hiway Credit Union: Twin Cities-area member-owned credit union offering checking, savings, lending, mortgages, and digital banking to consumer and business members — closely comparable on regional footprint and full-service cooperative model.
• TopLine Financial Credit Union: Minnesota-headquartered member-owned credit union providing consumer and business banking, lending, mortgages, and wealth services — comparable on cooperative structure, regional focus, and product breadth.
• SPIRE Credit Union: Minnesota-based full-service member-owned credit union offering deposits, consumer and commercial lending, mortgages, wealth, and insurance — directly comparable on cooperative model, product breadth, and Upper Midwest footprint.
• Lake Superior Credit Union: Minnesota-domiciled member-owned credit union offering consumer and business banking, lending, and digital channels — comparable as a regional cooperative peer with overlapping product mix.

Broad incumbents

• Bell Bank: Employee-owned Upper Midwest community bank offering consumer and commercial banking, mortgages, wealth, and insurance — a broader incumbent serving overlapping Minnesota/North Dakota geography and product categories.
• Bremer Bank: Large Upper Midwest regional bank owned by the Otto Bremer Foundation, offering consumer and commercial banking, mortgages, wealth, and treasury services — a broader incumbent comparable on geography and full-service depth.
• Connexus Credit Union: Large multi-state member-owned credit union offering full-service consumer and business banking, mortgages, wealth, and digital channels — comparable on cooperative structure and product breadth, though operating across a wider geography than the subject.

Regional players

• Magnifi Financial (formerly Hiway FCU successor network): Member-owned credit union serving Upper Midwest consumer and business members with deposits, lending, mortgages, and digital banking — comparable cooperative model and regional scope.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/TruStoneFinancialCU
• LinkedInlinkedin.com/company/trustone-financial
• Instagraminstagram.com/trustonefcu
• Xx.com/fireflycu

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Firefly Credit Union