From Trunzo to Williams: TruStage Sets New Path With New Leadership

Enterance to TruStage headquarters in Madison, Wis. (Source: CU Times).

For nearly two decades, Bob Trunzo has been a leader inside TruStage, formerly CUNA Mutual Group, as vice president of Sales and Marketing, chief operating officer and eventually president/CEO. On Wednesday, Trunzo announced he will retire as of Oct. 1 and hand over the reins to TruStage's next leader, Terrance Williams.

Trunzo has held the president/CEO spot since 2014 when Jeff Post retired from the leadership position.

According to details of the announcement, Williams, who is the former president of Protection Products and Services Group at Allstate, was unanimously selected to become president/CEO of TruStage after a vote by the Board of Directors.

Williams will begin his tenure at TruStage as president/CEO-elect on June 26 and will report directly to Trunzo until Trunzo's retirement.

CU Times spoke with both Trunzo and Williams after Wednesday's announcement.

During the interview, Trunzo explained that he went to the Board more than a year ago to express his interest in retiring once the rebranding to TruStage was complete. CUNA Mutual Group changed its name to TruStage in May.

Trunzo said, "I think I've accomplished virtually everything I set out to accomplish. The company is in terrific financial shape. You know, we've set records, and we've got a number of firsts over the course of my tenure here and the timing was just absolutely perfect."

Calling in for the interview from his home in Columbus, Ohio, Williams, a South Carolina native, has been in the financial services industry for more than 30 years. Since 2020, he held other positions within Allstate, such as executive vice president and general manager of Allstate Property-Liability Sales and Distribution. Before that, Williams was president of Nationwide's Emerging Business Group where he led innovation and digital strategy and served as chief marketing officer. He was recognized by Forbes Magazine as one of "The World's Most Influential CMOs" in 2017 and 2018. Additionally, Savoy Magazine named Williams as one of the most influential Black corporate directors in 2021.

He said the connection TruStage has with credit unions fits very well with his personal and professional beliefs.

"I have these beliefs in the power of 'We' and the ability for us to collectively accomplish so much more than we can do individually," said Williams. "And when you think about the credit union movement, you know, the power of 'We' and 'people helping people' is at the essence at the core of that movement."

He added, "One of the reasons why I'm just so excited about the opportunity here, I believe that there's such a good fit with what I believe in personally and professionally around the importance of our industry and the mission of TruStage. When I look at how these things come together, there's just a level of alignment that really is meaningful for me personally, and it allows me to carry that out professionally, as well."

When asked how he felt about stepping away from TruStage, Trunzo said, "Oh, I'm incredibly excited! Excited for Terrance. Excited for the future of the company."

He continued, "You know, I'm continually inspired by all of those around me who at TruStage just get up every day and do the right thing for our credit unions and our credit union members." Trunzo has been "truly honored to lead this organization for 10 years as CEO."

Both Trunzo and Williams believe the work done until now has set TruStage on a successful path. Trunzo said, "Since I took over in 2014, you know, we doubled the revenue of the organization. So it's right around $5.2 billion. We have almost tripled the assets under management, and now we have 37 million consumers protected. So I'm really proud of all we've accomplished with some tremendous people who care deeply about what they do and how they do it."

Near the end of the interview, Williams added, "So one of the other things I'm really looking forward to is just literally getting out in the field on the road to begin building those relationships and to be able to continue much of what Bob and the team have done. The ability to connect with credit union leaders to be able to get out and get engaged and involved and connected. I'm really anxious and looking forward to that."

According to Williams, he and his wife will be relocating to Madison, Wis. in the near future.

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Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.