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Press Release


Metro Credit Union Receives $40,000 Grant for Financial Education

 

Chelsea, MA – February 21, 2011 – As part of its ongoing support of financial education, Robert M. Cashman, President and CEO is pleased to announce that Metro Credit Union has received a grant from the National Credit Union Foundation.

Metro has received $40,000, the largest of the 2011 grants, for the implementation of financial coaching in Chelsea, Massachusetts. Metro has partnered with Chelsea Neighborhood Developers to develop and implement one-on-one financial coaching as part of their Resident Asset Development programming. The coaches will help low income households identify and follow a path to financial stability and mobility.

The financial coaches will be part of the new Chelsea Family Economic Center that is being developed by Chelsea Neighborhood Developers in conjunction with community partners. The mission of the Family Economic Center is to integrate, in one central and supportive location, financial management and employment services that will help community residents set goals, manage, and increase their personal income and assets. Through the Family Economic Center, a broad array of community partners have come together to achieve their vision of a supportive, welcoming neighborhood-based center where individuals and families can access the full array of supports needed to achieve financial stability.


“Metro Credit Union is proud to be part of the growing partnership of community organizations that share a commitment to the people of Chelsea.  Through the innovative Family Economic Center and one-on-one financial coaching, residents and businesses of Chelsea will be able to achieve and sustain financial stability. Metro’s innovative products, services and programs like the one-on-one financial coaching model, will assist the community in building assets and moving toward financial independence,” said Robert Cashman, President and CEO, Metro Credit Union.


Chelsea Neighborhood Developers offers a rich mix of programs that build family housing, encourage resident prosperity, and support socially and civically engaged neighborhoods. The Chelsea-based non-profit is delighted to expand their partnership with Metro Credit Union focusing on financial coaching services. Their clients report that with CND’s financial education training, encouragement, and supportive services, they have greater financial skills, and are working towards meeting personal financial goals.  CND’s Board President, Bernadette Rousseau, who purchased her home with CND’s support, speaks to the impact of their programming: “I was someone who had no idea how to use credit responsibly and underestimated my ability to save for a goal. CND gave me the financial education I needed to purchase my own home and the life-long money and debt management skills which will ensure that I am able to keep it.”

 

About Metro Credit Union

Metro Credit Union is one of the largest credit unions in Massachusetts with over $800 million in assets, and serves over 120,000 members.  Established in 1926 and based in Chelsea, Metro offers superior service and a full range of financial products, including investment and insurance offerings, for consumers and businesses in eastern Massachusetts.  Metro has nine branch offices conveniently located in Burlington, Chelsea, Framingham, Lawrence, Lynn, Peabody, Swampscott, Tewksbury, and a tenth branch soon to open in Boston. Metro is also a leader in workplace banking, serving over 1,800 companies throughout the state.