SOUTH BOSTON – Mass Bay CU, the credit union for the Mass Bay Transportation Authority, the public transportation system known locally as the “T,” has applied to state regulators to convert to a community charter encompassing almost two million residents surrounding Boston.
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The charter change would allow the $190 million credit union to serve residents of the Bay State’s Norfolk and Suffolk counties, as the greater Boston communities of Abington, Everett, Hanover, Hingham, Lynn, Malden, Marshfield, Medford, Melrose, Norwell, Peabody, Rockland, Saugus, Scituate, Somerville, Stoneham and Whitman.
The credit union was chartered in 1936 as the Boston Elevated Employees CU and changed its name in 1965 to MBTA Employees CU.
