Mass Bay Wins Big FOM Expansion
The $193 million Mass Bay Credit Union said this week it has won state and NCUA approval to add a potential 2 million residents in Suffolk and Norfolk counties and 17 area communities to its field of membership.
John Thomas, president/CEO of the South Boston credit union, said members in the expansion zone can “now enjoy the same state-of-the-art banking services offered by the area’s biggest financial institutions.”
The 16,300-member Mass Bay has a community charter that did limit it to employees of the Mass Bay Transit Authority, Massachusetts Department of Transportation and the community of South Boston.
“We wanted to get the word out now to explore our marketing opportunities,” said marketing staffer Maren Bradley. Approval for the added FOM was granted by the Mass Bay membership April 30.
Under the expansion, Mass Bay’s FOM includes the two counties plus 17 Boston suburbs: Abington, Everett, Hanover, Hingham, Lynn, Malden, Marshfield, Medford, Melrose, Norwell, Peabody, Rockland, Saugus, Scituate, Somerville, Stoneham and Whitman.