CHELSEA, Mass. – Metro CU has joined five other Chelsea-based organizations to launch CONNECT, a new initiative to bring bundled financial stability services to the city’s low-income residents from a central location.
The mission of CONNECT is to integrate financial management and employment services that will help Chelsea residents set goals, and manage and increase their personal income and assets.
This will be accomplished through traditional workforce development support from CareerSource, Centro Latino, and Bunker Hill Community College, in coordination with asset development and housing services from Chelsea Neighborhood Developers, Metropolitan Boston Housing Partnership, and Metro CU.
Metro will be providing on-site banking access, financial coaching, debt management, credit repair assistance and tax preparation. One of the goals is to provide the unbanked or underbanked with the knowledge and resources needed to open their own bank account as opposed to utilizing check-cashing services and payday lenders.
“Metro's innovative products, services and programs, such as the one-on-one financial coaching model, will assist the community in building assets and moving toward financial independence,” said Robert Cashman, president of the $900-million credit union.
