CHELSEA, Mass. Metro CU continued to expand its suburban Boston footprint with a deal to acquire Fenwal CU, a troubled single-branch, $2-million credit union in nearby Ashland, Mass., the fifth merger for Metro in three years.
Metro has built itself into a regional powerhouse with recent acquisitions of Massachusetts State Employees CU, University CU, Boston Globe Employees CU and Secure CU, growing its assets to more than $1.1 billion in the process.
The mergers not only have put Metro into Boston’s City Hall, but enabled it to serve students and employees at more than a dozen college campuses, as well as anyone in the state’s Essex, Middlesex, Suffolk, Norfolk, Plymouth, Barnstable or Worcester counties.
Metro is headed by Robert Cashman, the grandson of George Cashman, who chartered then-Chelsea CU in 1926, and son of former CEO Marvin Cashman.