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Tremont Credit Union received approval from the Massachusetts Division of Banks to add the Massachusetts Biotechnology Council (MassBio) to its field of membership. MassBio is a non-for-profit organization servicing the state’s life sciences industry. The expansion opens up membership to MassBio’s 1,200 member companies and organizations throughout Massachusetts.
“We believe a credit union membership is a valuable benefit,” Bob Coughlin, president and CEO of MassBio, said in a statement. “We feel that Tremont’s service delivery channels are robust and will serve our members’ needs well. We expect many of our members to take advantage of Tremont’s online/mobile banking options as well as their 24/7 call center.”
The Milton-based credit union has approximately $200 million in assets, more than 20,000 members and four full-service branches in Boston, Dorchester, Milton and Roslindale. Products include high-yield deposit accounts, free rewards checking accounts, mortgages, auto loans, and specialty loans. Tremont offers a 24/7 call center, online and mobile banking, a nationwide network of more than 5,500 branches and more than 30,000 ATMs.
About 200 employer groups and their family members are eligible for Tremont membership, as well as anyone who lives or works in Middlesex, Norfolk and Suffolk counties or worships in Suffolk County. Membership currently includes Boston Children’s Hospital, Dana Farber Cancer Institute, Blue Cross Blue Shield of Massachusetts and the Boston Teacher’s Union.
“This strategic partnership aligns perfectly with our other healthcare and education sectors, allowing us to further serve a community who have been so loyal to Tremont,” Tremont Credit Union president and CEO George Hardiman said in a statement. “The MassBio Council contains some of the most important biopharmaceutical and biotechnology organizations around the world, committed to improving health and well-being. We are pleased to be MassBio’s credit union and welcome all their employees and family members to join the credit union.”
