In the latest of a years-long string of acquisitions, Chelsea-based Metro Credit Union will absorb the offices, members and employees of Boston-based University Credit Union on April 30.

Letters recently went out to members of University Credit Union announcing the change, and Metro CEO Robert Cashman told Banker & Tradesman that his institution intends to keep all University locations, ATMs and employees.

Cashman said the union made sense for both institutions. At $60 million in assets, the University Credit Union wanted to offer expanded products and convenience for members, but, like all financial institutions, is faced with increased compliance and regulatory costs.

Meanwhile, the $783.4 million Metro Credit Union also saw the appeal in merging with University. The smaller credit union has similar membership demographics, as both serve education groups and hospitals.

Also, its three branches were advantageously located to give Metro a bigger presence in Boston. Metro has a new branch on Boston’s Massachusetts Avenue near the South Bay shopping center, mere blocks from University Credit Union’s Albany Street location. University’s current headquarters, located at 864 Commonwealth Ave., will move several blocks along Commonwealth to a new location.

"It’s a great growth strategy for us," Cashman said, noting that Metro has been steadily acquiring new credit unions for decades. Since 2000, Metro has merged with seven credit unions – this will be the eighth. The last acquisition was the Boston Globe Employees Credit Union, in February 2009. In such cases, Metro keeps branches open as a way to expand its network.