CHELSEA, Mass./MEDFORD, Mass., –Two more Massachusetts credit unions have announced plans to pursue a combination.
The $3.2-bllion Metro Credit Union and $341-million Members Plus Credit Union have announced their intent to merge, bringing together two local, member-focused institutions in a strategic partnership designed to expand opportunity, strengthen communities, and enhance long-term value for members. Metro Credit Union will be the continuing credit union.
In a statement, the credit unions said the “proposed merger is powered by partnership, a shared belief that now, more than ever, collaboration enables credit unions to better serve members, invest in innovation, and deepen their impact across the communities they serve. Both organizations are grounded in a commitment to people-first service, financial empowerment, and local engagement.”
“Through this partnership, Metro Credit Union would expand its retail branch network to include Norfolk County, extending Metro’s community-based model while maintaining Members Plus Credit Union’s trusted local presence,” the statement added.
Pending approval by members of both credit unions and regulatory authorities, the combined organization will operate 25 retail branches. Together, the credit unions will serve approximately 214,000 members and manage over $3.5 billion in combined assets.
Members Plus in the Red
Metro Credit Union closed out 2025 with $11.8 million in net income and net worth of 9.02%. Members Plus CU posted a $209,800 loss at the end of last year, with net worth at 11.54%.
‘Shared Purpose’
“This is a partnership grounded in shared purpose and a belief that credit unions exist to help people and communities thrive,” Metro CU President and CEO Robert Cashman said in a statement. “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.”
Added MPCU President and CEO Michael Wilberton in a statement, “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.”
An anticipated effective date for the merger is the end of 2026. All employees of Members Plus will be offered positions, according to the credit unions.
