MCU to Merge With GMCU

Metro Credit Union (MCU), Massachusetts’ largest state-chartered credit union, today announced that it will merge with Gloucester Municipal Credit Union, founded in Gloucester, Mass in 1941, on February 26. Metro, which recently surpassed $2.3 billion in assets, will absorb GMCU’s nearly 500 members and $2.3 million in assets. Metro’s newest members will have access to an expanded line of products and services as well as its 14 branch locations.

 “I’m thrilled to welcome members of the Gloucester community to the Metro family,” said Robert Cashman, CEO and president. “I encourage both existing members of GMCU and others who are or were previously employed by the city of Gloucester to take advantage of the many opportunities Metro has to offer our members.”

 When considering a merger, GMCU turned to Metro due to its strong reputation, digital and technological advancement, and obvious commitment to its more than 220,000 members.

 “Metro will offer our members additional benefits and opportunities that we have not been able to provide, including digital access, mortgages, home equity loans, and more,” said Lawrence Ingersoll, board president, Gloucester Municipal Credit Union. “We are particularly grateful to partner with a credit union that we know will treat our members with compassion and care and offer them the security and trust they deserve.”

 For more information about Metro Credit Union, please visit or connect with us on LinkedIn.

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