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Metro Credit Union Launches Products to Help Members Advance

February 19, 2019

Metro Credit Union is proud to offer a variety of banking products to help members become financially established. These products reflect the needs of emerging populations who are new to banking, are seeking to develop a safety net, establish credit, save for specific goals, and more.

“These are excellent banking options for those wishing to gain financial independence and build prosperity,” says Charlene Bauer, Metro’s Chief Development Officer, SVP Outreach and Advocacy. “Establishing savings and credit can be an uphill battle, one that many people in our community tackle every day. Metro is proud to offer products specially designed to support our members’ achievement of their financial goals.”

For those looking to build savings, Metro now offers a variety of options including the Prosperity BuilderSavings Account, a simple way to save for the future which requires no minimum balance and does not charge a monthly maintenance fee. The Savings Builder helps members to get in the habit of saving regularly towards a Certificate of Deposit. As members increase their balance, a Certificate of Deposit is open earning more interest. To save for annual occasions like the holidays and summer vacation, Metro offers Christmas and Vacation Club Accounts. These savings accounts help members prepare for holiday spending and vacation expenses, while encouraging members not to withdraw until the spending season approaches. Metro offers a Free Checking account that makes managing money easy and stress-free with benefits including no monthly maintenance fee or balance requirement and unlimited check writing.

Metro also offers products for those looking to build or repair credit. The Credit Builder Loan holds the amount borrowed in a Metro savings account while the borrower makes payments, building credit. When the Loan is paid off, the savings account balance is released to the borrower. The Prosperity Builder Loan pledges the balance in the Prosperity Builder Savings Account and provides a loan up to twice the amount of the savings. The Celebration Loan is perfect for life’s big events: Quinceneras, weddings, holidays, education needs, graduations, security deposits, and more. The Citizenship Loan is specifically designed to help families finance the cost of applying for citizenship, a process that can often be expensive and stressful for new members of the community.

To become a member of Metro and apply for any of these credit building loans and accounts, an individual needs only to live, work or have a place of business in Barnstable, Bristol, Essex, Middlesex, Norfolk, Plymouth, Suffolk, or Worcester county in Massachusetts, or Rockingham or Hillsborough county in New Hampshire. For full details on each product, please visit MetroCU.org.
- - - - -About Metro Credit Union
Metro Credit Union is the largest state-chartered credit union in Massachusetts, approaching $1.8 billion in assets. Metro provides a full range of financial products to more than 200,000 members in Essex, Middlesex, Suffolk, Norfolk, Plymouth, Barnstable, Bristol and Worcester counties in Massachusetts, and Rockingham and Hillsborough counties in New Hampshire, as well as to over 1,200 companies.
Founded in 1926, Metro currently operates 15 branch offices in Boston, Burlington, Chelsea, Framingham, Lawrence, Lynn, Melrose, Newton, Peabody, Salem, and Tewksbury. Metro is also a Juntos Avanzamos (“Together We Advance”)-designated credit union, an honor give to financial institutions for their commitment to serving and empowering Hispanic and immigrant consumers.
Learn more at MetroCU.org.