Metro Credit Union

CHELSEA, MA — April 3, 2024 — Metro Credit Union, the largest state-chartered credit union in Massachusetts today announced that it has once again been approved to participate in the Federal Home Loan Bank of Boston’s homeownership assistance programs, Equity Builder Program and Housing Our Workforce. Both programs provide assistance to income-eligible homebuyers who are purchasing one- to four-family homes that will serve as their primary residence.

Equity Builder Program (EBP) provides grants to financial institutions to help local first-time homebuyers with down payments and closing costs as well as homebuyer counseling and rehabilitation assistance. Borrowers earning up to 80% of the area median income are eligible to receive up to $30,806 in assistance on a first-come, first-served basis. Buyers must complete homebuyer education/counseling to qualify.

Housing Our Workforce (HOW) enables financial institutions to help local homebuyers earning more than 80% and up to 120% of the area median income with down payments and closing costs. Borrowers can receive 10% of the home sales price or up to $25,000 in assistance on a first-come, first-served basis. Buyers must complete homebuyer education/counseling if they are a first-time homebuyer.

“We are pleased to participate in these impactful grant programs designed to help make purchasing a home accessible to more people, particularly in today’s challenging market,” said Robert Cashman, President and CEO, Metro Credit Union. “Helping more members become homeowners is an important part of supporting the financial wellness, stability, and growth of our communities.”

Metro is eligible to receive up to $350,000 through the EBP and up to $260,0000 through HOW for qualified individuals depending on availability of funds in 2024.

To learn more about applying for assistance through these programs, click here or contact Lucas Ross, Metro Mortgage Sales Manager, at lross@metrocu.org.

About Metro Credit Union

Metro Credit Union is the largest state-chartered credit union in Massachusetts, with $3.4 billion in assets. Metro provides a full range of financial products to close to 200,000 members in Barnstable, Bristol, Essex, Franklin, Hampden, Hampshire, Middlesex, Norfolk, Plymouth, Suffolk, and Worcester counties in Massachusetts, and Cheshire, Hillsborough, and Rockingham counties in New Hampshire. Metro is the credit union of choice for employees at over 1,200 companies through its Metro@work program.

Founded in 1926, Metro currently operates branch offices in Boston, Burlington, Chelsea, Dorchester, Framingham, Lawrence, Lynn, Medford, Melrose, Newton, Peabody, Reading, Salem, Tewksbury, and West Roxbury. Metro is also a Juntos Avanzamos (“Together We Advance”) designated credit union, an honor given to financial institutions for their commitment to serving and empowering Hispanic and immigrant consumers. Metro was recently named among the most charitable companies in Massachusetts by the Boston Business Journal. Learn more at MetroCU.org.

About FHLBank Boston

The Federal Home Loan Bank of Boston is a cooperatively owned wholesale bank for housing finance in the six New England states. Its mission is to provide highly reliable wholesale funding and liquidity to its member financial institutions in New England. The Bank also develops and delivers competitively priced financial products, services, and expertise that support housing finance, community development, and economic growth, including programs targeted to lower-income households.

# # #