BOSTON (7/11/12)--Massachusetts' state credit union regulator has approved the merger of Boston-based Massachusetts State Employees CU into Chelsea-based Metro CU.
The Division of Banks in the Office of Consumer Affairs and Business Regulation said in its June 29th Activity Report that it granted permission on June 12 for the two to merge, with Metro continuing as the surviving credit union. State Employees CU's sole branch will be retained as a branch office of Metro.
Metro has more than $1 billion in assets; its 13 branches serve more than 140,000 members. Massachusetts State Employees CU had $71.7 million in assets, one branch, and se4rved 12,532 members.