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Chelsea-based Metro Credit Union has announced plans to absorb Medford-based Members Plus Credit Union.

“This is a great opportunity and great partnership between the two organizations,” Metro President and CEO Robert Cashman said in an interview with Banker & Tradesman. “What’s really nice is that we already have some synergies between us. We’re both community credit unions. We both have relationships with select employee groups so the type of membership that Members Plus has and that Metro has is very similar.”

Metro CU is expected to be the continuing credit union, and no branch closures are expected as a result of the merger. Also, Members Plus employees will be offered positions to join Metro as employees.

Pending approval by members of both credit unions and regulatory authorities, the combined organization will operate 25 branches, serve approximately 214,000 members, and manage over $3.5 billion in assets. This partnership will expand Metro’s footprint into Boston’s southern suburbs in Norfolk County.

“We have a branch network that now members from either of those credit unions can go to a multitude of locations,” Cashman said. “So there’s more accessibility, more convenience that’s there. We now have the opportunity to add the overall network some branches that are further south, like Plymouth, Norwood, and they also have a branch in Winchester and in Everett, so we’re going to expand our branch network where we already have members living in those areas.”

Several members of Members Plus’ board will also be joining the Metro Credit Union board, according to Cashman. The merger is expected to be completed by the end of 2026.