Metro Credit Union plans merger with Members Plus to expand reach in Massachusetts.
The proposed combination would create a $3.5 billion-asset institution and extend Metro’s branch network into new communities.
Metro Credit Union of Chelsea, Mass., has announced plans to merge with Members Plus Credit Union of Medford, Mass., in a move aimed at expanding its geographic footprint and strengthening its position in a consolidating financial services landscape.
Under the proposed agreement, Metro Credit Union would serve as the continuing institution, absorbing Members Plus and extending its branch network into Norfolk County. The combined organization would operate 25 retail locations, serve approximately 214,000 members and manage more than $3.5 billion in assets.
The merger remains subject to approval by regulators and members of both credit unions, with an anticipated completion date by the end of 2026.
Metro Credit Union, which reported $3.3 billion in assets and 213,000 members, earned $11.8 million in 2025, up from $8.1 million the year before. Members Plus, a smaller institution with $341 million in assets and 13,658 members, would bring an established local presence that Metro executives say aligns with their community-focused approach.
“This is a partnership grounded in shared purpose and a belief that credit unions exist to help people and communities thrive,” said Robert Cashman, President and CEO of Metro Credit Union. “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.”
The transaction reflects broader trends across the credit union industry, where institutions are increasingly pursuing mergers to achieve scale, invest in technology and maintain competitiveness against larger banks and financial technology firms.
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Leaders at both organizations emphasized that the partnership is driven by shared values, including a commitment to member service, financial empowerment and community engagement. By combining resources, the institutions aim to enhance product offerings and invest more heavily in innovation.
“We believe this partnership will be beneficial to our members, our employees, and our community,” said Michael Wilberton, President and CEO/CFO of Members Plus Credit Union. “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.”
As part of the agreement, all Members Plus employees will be offered positions within the combined organization, and its existing branch will remain open, ensuring continuity for members during and after the transition.
Both credit unions said they plan to maintain regular communication with members throughout the approval process. Until the merger is finalized, each institution will continue to operate independently with no changes to member services.
If approved, the merger would mark another step in the ongoing consolidation of the credit union sector, as institutions seek to balance growth with their traditional mission of community-based financial service.
“This is a partnership grounded in shared purpose and a belief that credit unions exist to help people and communities thrive.”
Robert Cashman
President & CEO
Metro Credit Union
Ken McCarthy is manager of marketing communications at Tyfone, where he monitors the credit union industry and contributes to conversations shaping its future. He previously covered credit unions and community banking for American Banker and S&P Global Market Intelligence. He holds a journalism degree from Point Park University and has more than 15 years of experience covering financial services. He is also the author of three literary fiction novels.
