Robert Cashman
The financial services landscape is evolving at an unprecedented pace. Digital platforms, mobile apps, and national institutions have transformed how people interact with their money.
Consumers can move their money with a tap, apply for loans online and manage investments from their phone.
Yet amid this wave of innovation, one truth remains: local banking remains essential – not just for convenience, but for the economic health of Massachusetts. At Metro Credit Union, we believe that while technology evolves, the values of community, trust and relationships are timeless.
Keeping It Local
Local financial institutions are more than service providers. They stabilize economies and strengthen communities. When decisions are made by people who live and work in the same neighborhoods, banking reflects an understanding of local challenges and aspirations, something algorithms and distant corporate boards cannot replicate.
This local presence is increasingly rare. Decades of consolidation have reduced the number of banks available to consumers, with community banks and credit unions filling the gap for personalized service. Massachusetts credit unions manage tens of billions of dollars in assets, reinvesting gains locally to strengthen neighborhoods, fund small businesses and support community initiatives.
Credit unions operate on a different principle: people before profits. Unlike shareholder-driven financial institutions, we reinvest in our communities. At Metro Credit Union, giving back is central to who we are. That reinvestment is tangible – whether it’s through community development investments, affordable mortgage programs or personalized lending solutions, we measure success not only in financial terms but in the strength of the communities we serve.
Nationwide, credit unions serve 143.8 million members across more than 4,300 institutions according to recent data from the NCUA, with total assets reaching $2.4 trillion. That scale translates into billions reinvested locally every year. In Massachusetts, credit unions drive impact through affordable housing initiatives, small business lending, and financial education programs.
Our members are neighbors, colleagues, and friends. As a member-owned institution, every decision is guided by putting people first. We believe banking should be relationship-driven, built on trust and personal connection, setting credit unions apart from larger institutions.
The Future is Hybrid
Consumer behavior has shifted. People expect convenience, speed and digital access. That’s why we embrace the “brick and click” model, combining the reliability of physical branches with the innovation of digital tools.
Metro’s “digital branch” online provides members with the flexibility and convenience that today’s consumers demand. At the same time, our 18 branches across Massachusetts ensure that members who value in-person service have access to personalized guidance.
Technology allows us to meet members where they are, while our local presence ensures we’re always here when they need us most. According to recent banking trends studies, more than one-third of consumers use a mobile banking app daily, reflecting the demand for speed and convenience. Yet nearly 1 in 5 said they are likely to switch financial institutions, a reminder that trust and local relationships are differentiators that endure.
By combining digital innovation with deep community roots, Metro ensures members don’t have to choose between convenience and connection – they can have both.
Innovation with Purpose
For Metro, innovation is intentional and about serving members better. Every digital feature and enhancement – from mobile apps to online loan applications – is designed to simplify life for our members and empower smart financial decisions. Every new product or service we introduce is rooted in listening to our members and responding to their needs.
Whether it’s face-to-face in a branch or through a smartphone screen, our commitment is the same: to be there for our members and provide guidance, support, and solutions.
As banking evolves, local financial institutions have an opportunity to lead by shaping change with purpose. Community-based banking is not just relevant; it’s essential for creating inclusive growth and financial resilience.
At Metro Credit Union, we see technology as a tool, not a substitute for human connection. By combining innovation with values, we can deliver the best of both worlds: convenience and trust, speed, and relationships.
The future of banking isn’t about choosing between digital or local. It’s about integrating both, so our members get the service they need when they need it. Local financial institutions strengthen communities and as banking continues to evolve, our mission remains clear: to serve our members, support neighborhoods and uphold the values that make local banking indispensable.
Robert Cashman is president and CEO of Chelsea-based Metro Credit Union.
