Robert Cashman, President and CEO of Metro Credit Union, announces that Metro’s fiscal year 2019 exceeded expectations and plans for 2020 are on track – further establishing the financial institution’s position as the largest state-chartered credit union in Massachusetts. Most notably, Metro surpassed the $2 billion in assets mark in November. The factors that contributed to the impressive milestone include historic levels of home mortgage originations and expansion of its Commercial Lending division.
In 2019, Metro’s commercial lending capabilities expanded with two new executives as Kevin Malone, Senior Commercial Lender, and Jason Truong, Vice President Commercial Relationship Manager joined Metro. Mr. Malone is focused on offering innovative, customized financial solutions that help establish and improve the surrounding communities served by Metro, while Mr. Truong brings a personal perspective to managing and overseeing those business relationships of Metro’s commercial members. Metro’s residential mortgage division leveraged its expanded Mortgage Originations team and produced closed loans in excess of half a billion dollars by year-end, a 66% increase over 2018.
In addition to its financial growth Metro continued its internal investment of technology infrastructure aiming to both enhance and improve the overall member experience. This multi-year project, which has entered its second phase, will be two-fold: offering members an ability to better manage their finances by way of a more holistic banking experience, and simultaneously making internal processes and workflows more efficient.
“Through new tools, new partnerships and new team members, we are able to provide more than standard products and service,” says Cashman. “With this overarching organizational investment we will elevate what we offer our more than 225,000 members, along with how we serve them. We are focused on delivering on our foundational offerings in what makes us a thriving financial institution while also aiming to deliver an experiential “part better” aspect to our members. As we look to 2020, everything is aligning for another impactful and successful year to the benefit of our members and employees.”
Metro Credit Union is the largest state-chartered credit union in Massachusetts, with $2.0 billion in assets. Metro provides a full range of financial products to more than 225,000 members in Essex, Middlesex, Suffolk, Norfolk, Plymouth, Barnstable, Bristol and Worcester counties in Massachusetts, and Rockingham and Hillsborough counties in New Hampshire, as well as to employees of over 1,200 companies through its [email protected] program.
Founded in 1926, Metro currently operates 14 branch offices in Boston, Burlington, Chelsea, Framingham, Lawrence, Lynn, Melrose, Newton, Peabody, Salem, and Tewksbury. Metro is also a Juntos Avanzamos (“Together We Advance”) designated credit union, an honor given to financial institutions for their commitment to serving and empowering Hispanic and immigrant consumers.
Learn more at MetroCU.org.