BOSTON – Mass Bay CU, a 76-year-old credit union originally chartered to serve the Boston Elevated Train Co., then the Massachusetts Bay Transit Authority, was approved by state regulators to serve a board swath covering 1.5 million people surrounding Boston, in Suffolk and Norfolk counties.
The new field of membership will cover the greater Boston suburbs of Abington, Everett, Hanover, Hingham, Lynn, Malden, Marshfield, Medford, Melrose, Norwell, Peabody, Rockland, Saugus, Scituate, Somerville, Stoneham and Whitman.
The $180-million credit union was chartered in 1936 as Boston Elevated Employees CU with 20 members. It changed its name in 1965 to MBTA Employees CU. In 2009, it became Mass Bay CU and expanded to serve the community of South Boston, Seaport District and other unions in Massachusetts.
