TruStage sign at the company's headquarters in Madison, Wis. Credit/CU Times
TruStage, the Madison, Wis.-based provider of insurance and financial services for credit unions and middle-market consumers, reported strong financial results for 2024, demonstrating its resilience amid economic pressures and natural disasters.
The company ended the year with over $5.6 billion in revenue, more than $200 million in net income and over $37 billion in assets under management, according to its annual report. Ratings agencies AM Best and S&P reaffirmed TruStage’s financial strength and stability.
Recommended For You
“No matter the economic or environmental headwinds we face, we are rooted in the ‘people helping people’ principle we were founded upon 90 years ago,” Terrance Williams, president/CEO of TruStage, said. “In 2024, our TruStage team delivered on our promises to the millions of customers we protect and achieved strong results that we are poised to build upon in the coming year.”
TruStage provided more than $2.5 billion in total benefits across 39 million consumer relationships and maintained partnerships with 93% of credit unions in the U.S. The company also became the fifth-largest writer of life insurance by policy count in the country.
TruStage earned the 2024 Celent Model Insurer Award for Innovation Execution for its launch of Payment Guard Insurance, a first-of-its-kind product for digital lenders.
The TruStage Foundation continued its philanthropic commitment, donating $3.5 million to support economic mobility, contributing $150,000 to hurricane relief and logging 8,300 employee volunteer hours.
With over 65 fintech investments through TruStage Ventures, the company continues to innovate while deepening its long-standing support for credit unions and their members.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Michael Ogden
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.
