Metro Credit Union Receives National Certification for New Safeguard Checking Account

Metro Credit Union, Massachusetts’ largest state-chartered credit union, today introduced its Safeguard Checking account which is officially certified by the national Cities for Financial Empowerment Fund (CFE Fund) as meeting the Bank On National Account Standards (2021 – 2022). By creating this product, Metro is providing a safe, accessible, and affordable checking account that mitigates the risk of overdraft to its membership.

“The Cities for Financial Empowerment Fund is delighted to award its national Bank On account certification to Metro Credit Union’s Safeguard Checking account,” said Jonathan Mintz, President and Chief Executive Officer of the Cities for Financial Empowerment Fund. “Safeguard Checking offers members who are looking to improve their finances a useful mainstream banking product. Metro Credit Union’s offering of this terrific account brings them into the forefront of national banking access efforts, and we thank them.”

Metro created Safeguard Checking in collaboration with Bank On Boston, where Metro Credit Union is one of 82 member organizations of the Bank On Boston Coalition.

“The City of Boston is committed to equitable banking access for our residents,” said Boston Mayor Kim Janey. “Key to that effort is ensuring that those in need of banking services have safe, reliable accounts to choose from, without worrying about overdraft fees. Thank you to Metro Credit Union for their partnership in this commitment and the creation of the new Safeguard Checking account.”

Many households in Metro’s Field of Membership do not have a checking or savings account and rely on costly check-cashing and other alternative financial services. For these residents, opening a safe, affordable and non-predatory checking account is an important step toward improving financial wellness. Safeguard Checking helps make that easier.

Key features of Safeguard Checking include:

• Paperless Checking – no paper checks issued.

• Debit card accessibility for ATM and POS transactions

• Direct deposit and recurring ACH payments

• Metro iBanking – Free Online Banking

• Zelle – Free Person to Person Transfers

• Free Bill Pay

• Free Remote Deposit Capture

• Free Mobile Banking

• Free Automated Telephone Banking

“Metro is committed to providing our members with products and services that make them feel confident and secure in their banking decisions,” said Robert Cashman, CEO and president, Metro Credit Union. “We’re proud to offer this new checking account to our members to help those who need some help establishing their own financial stability. And to have it certified by CFE provides an additional layer of assurance to our members.”

For more information about Metro Credit Union, please visit metrocu.org, or connect with us on LinkedIn.

Metro Credit Union is the largest state-chartered credit union in Massachusetts, with $2.3 billion in assets. Metro provides a full range of financial products to more than 225,000 members in Essex, Middlesex, Suffolk, Norfolk, Plymouth, Barnstable, Bristol and Worcester counties in Massachusetts, and Rockingham and Hillsborough counties in New Hampshire, as well as to employees of over 1,200 companies through its Metro@work program.

Founded in 1926, Metro currently operates 14 branch offices in Boston, Burlington, Chelsea, Framingham, Lawrence, Lynn, Melrose, Newton, Peabody, Salem, Tewksbury, and coming soon to West Roxbury. Metro is also a Juntos Avanzamos (“Together We Advance”) designated credit union, an honor given to financial institutions for their commitment to serving and empowering Hispanic and immigrant consumers. Metro was recently named among the most charitable companies in Massachusetts by the Boston Business Journal. Learn more at MetroCU.org and connect with us on LinkedIn.

A program within the Mayor’s Office of Financial Empowerment, Bank On Boston connects Boston residents with safe, accessible, and affordable financial products and services that can help them save, grow, and access their money. In addition to connecting residents with non-predatory financial services, the Bank On Boston Coalition also raises public awareness of mainstream banking, expands access to f inancial education and credit building products, and connects residents to other OFE programs. Bank On Boston is part of a nationwide Bank On initiative led by the Cities for Financial Empowerment Fund (CFE Fund). Learn more about Bank On Boston at ofe.boston.gov/bank-on-boston.

The CFE Fund supports municipal efforts to improve the financial stability of households by leveraging opportunities unique to local government. By translating cutting edge experience with large scale programs, research, and policy in cities of all sizes, the CFE Fund assists mayors and other local leaders to identify, develop, fund, implement, and research pilots and programs that help families build assets and make the most of their f inancial resources. The CFE Fund is currently working in over 100 cities and counties and has disbursed over $52 million to local governments and their partners to support these efforts. For more information, please visit www.cfefund.org or follow us on Twitter at @CFEFund.