Processing Content
BOSTON – Metro CU, the state’s fifth largest credit union, said Friday it has agreed to acquire Boston Globe Employees CU, a $22 million credit union that has reported nine straight quarterly losses.
The Boston Globe Employees CU, which serves 2,400 members, has seen a decline in assets of almost 10% over the past two years and reported a loss of $41,070 for the first half of the year.
Metro CU, based in the Boston neighborhood of Chelsea, has almost 130,000 members and reported net income of more than $1 million for the first six months of 2008.
