Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Boston Globe ECU to be absorbed by Metro CU
BOSTON (3/2/09)--Metro CU--the fifth largest-asset Massachusetts credit union--is absorbing Boston Globe Employees CU. State regulators approved the merger in which the $732 million asset, Chelsea, Mass.-based Metro is taking in the 2,343 member, $21 million asset Boston Globe--which has lost money over the last three years (Boston Business Journal Feb. 27). Boston Globe Employees CU saw its delinquent loans nearly double in 2008, according to National Credit Union Administration data, the Journal said. The credit unions’ net loss went up to $316,438 and its delinquent loans rose to $825,656--3.97% of total assets in 2008--NCUA data indicated, according to the Journal. Metro has more than 100,000 members, serving more than 1,800 Massachusetts companies. In 2008, its net income was $2.3 million and its net worth $87.2 million, the Journal said.


RSS print
News Now LiveWire
With 523 shots beyond the arc @utahjazz and @MountainAmerica raise over $31k for @Huntsmancancer http://t.co/kyBqVrxjBu
14 hours ago
.@MazumaCU "We believe we owe our members a smile. That's going to be our goal every day." http://t.co/se7iSBcA63 #CUDifference
16 hours ago
.@GoBankingRates survey: #creditunions offer stronger interest rates, shutting out banks again! http://t.co/DvoQ50eI4s
18 hours ago
Prize-linked savings such as @SaveToWinMI noted by @FoxBusiness http://t.co/PF0TJANbLM
18 hours ago
My (Maine) kingdom for a 'Spokester'! http://t.co/1LQgrBvl91 #creditunion #newsnow #storytomorrow
19 hours ago