The $920 million, 134,000-member Metro Credit Union has partnered with five organizations in its home community of Chelsea, Mass., to bring financial and employment services to lower-income residents.
“Chelsea has concentrated pockets of lower-income residents who need a variety of services but have not had a single, central location to get them,” said Charlene Bauer, senior vice president of community relations for the CU. “We envision the CONNECT project as helping to change that.”
The CONNECT project will provide a single location where lower-income residents can receive financial education and job training along with opening credit union accounts and getting financial education.
Metro said it will provide on-site banking access, financial coaching, debt management, credit repair assistance and tax preparation at the site, adding that one of the goals is to provide the unbanked and underbanked with the knowledge and resources needed to open their own bank account as opposed to utilizing check-cashing services and payday lenders.
“Metro Credit Union is proud to be part of the partnership of community organizations that share a commitment to the people of Chelsea,” said Robert Cashman, CEO of Metro Credit Union.
“Through CONNECT, residents and businesses of Chelsea will be able to achieve and sustain financial stability. Metro’s innovative products, services and programs, like the one-on-one financial coaching model, will assist the community in building assets and moving toward financial independence,” Cashman added.