Metro Credit Union and Members Plus Credit Union have announced plans to merge in a strategic partnership aimed at expanding access, strengthening community impact, and enhancing long-term value for members. Metro Credit Union will be the continuing institution following the transaction.
The proposed merger reflects a shared commitment to member-focused service, financial empowerment, and local engagement. By combining operations, the organizations aim to increase their ability to invest in innovation and broaden services across their communities.
As part of the deal, Metro Credit Union would extend its retail branch network into Norfolk County while maintaining Members Plus Credit Union’s established local presence. Upon completion, the combined organization is expected to operate 25 retail branches, serving approximately 214,000 members with more than $3.5 billion in assets.
The merger remains subject to approval from both credit unions’ members and regulatory authorities. If approved, the transaction is anticipated to close by the end of 2026. Until then, both institutions will continue operating independently with no immediate changes to member services. All employees of Members Plus Credit Union are expected to be retained and integrated into the combined organization.
Metro Credit Union, founded in 1926 and headquartered in Chelsea, Massachusetts, is the largest state-chartered credit union in the state, with $3.2 billion in assets and more than 200,000 members. Members Plus Credit Union, based in Medford and founded in 1940 as the Boston Edison Employees Credit Union, has grown into a full-service financial institution serving communities across Massachusetts.
KEY QUOTES
“This is a partnership grounded in shared purpose and a belief that credit unions exist to help people and communities thrive. Members Plus Credit Union has built a strong legacy of trust and service. By coming together, we are strengthening our collective ability to deliver value, expand access, and meet our members’ evolving financial needs.”
Robert Cashman, President and CEO, Metro Credit Union
“We believe this partnership will be beneficial to our members, our employees, and our community. Metro Credit Union shares our values and commitment to member and community service. Together, we will be stronger and better positioned to support our members today and into the future.”
Michael Wilberton, President and CEO/CFO, Members Plus Credit Union
