BOSTON – Fast-growing Telephone Workers CU received permission from state regulators to move its headquarters out of the downtown financial district to suburban Braintree.
The move will facilitate expansion of the $530 million credit union, which converted two years ago to a community charter. It serves all of Boston, the South Shore and the Route 128 corridor, where Braintree is located.
The new facility will provide 24,000 square feet of space, including 5,000 square feet for a new branch, compared to 10,000 square feet at the old location.
The 91-year-old credit union grew its assets by $13 million last year and reported $3.1 million in net income.
The credit union also will move its downtown branch from the financial district’s High Street to South Station.
