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Press Release


METRO CREDIT UNION GROWS TO $1 BILLION IN ASSETS

Chelsea, Mass. – Metro Credit Union, which is poised to become the Commonwealth's largest state-chartered credit union, today announced that assets have surpassed $1 billion dollars.  Assets are made up of cash on hand, investments and loans the credit union has made to its members.

"In reaching the $1 billion milestone, we are seeing signs that our members are weathering these challenging and uncertain economic times by managing to grow their savings and feeling comfortable enough to borrow money to fund their personal goals," said Robert M. Cashman, Metro CU's president and chief executive officer.  "Metro's growth in assets has been further supported by attracting new members fed up with big banks and their high fees and poor customer service."

Cashman sees Metro CU's growth as validation that the credit union is attractive to consumers and businesses alike, which choose it for better rates and exceptional service from an institution based right in their community.

As a financial institution owned by its members, and operated on a cost-responsible business model, Metro CU has been recognized for its exceptional customer service, above-market savings rates, low lending rates, minimal fees, including the promise of "no ATM fees" with its popular My Reward Checking program.  In 2011, members with My Reward Checking received over $595,000 in ATM refunds and $85,000 in rewards based on debit card purchases.

About Metro Credit Union

Metro Credit Union is one of the largest credit unions in Massachusetts with nearly $1 billion in assets, and serves over 140,000 members.   It is a growing, federally insured financial institution and a leading provider of a full range of financial services to anyone living or working in Essex, Middlesex, Suffolk, Norfolk, Plymouth, Barnstable or Worcester counties in Eastern Massachusetts.

Founded in 1926 and headquartered in Chelsea, Massachusetts, Metro CU is a non-profit cooperative financial institution, owned by and operated for the people who use and benefit from its products and services.  Metro CU uses superior customer service, and technology to deliver a full range of financial products, including investment and insurance offerings, for consumers and businesses in eastern Massachusetts.  Metro CU is well known for providing members with unlimited refunds of other banks’ ATM fees through their My Reward Checking account.

Metro CU has 13 branch offices conveniently located in Boston, Burlington, Chelsea, Framingham, Lawrence, Lynn, Melrose, Peabody, Salem, and Tewksbury, and is also a leader in workplace banking, serving over 1,800 companies across the Commonwealth.