Metro Credit Union vs City Of Boston Credit Union

Can you guess which credit union has more locations in Boston? If you're thinking City of Boston -- you're right! With 16 combined branches and ATMs in the city, it's more physically accessible than Metro Credit Union. However, Metro has locations as far as Framingham and Lawrence, so its membership is much larger.

The following chart shows just how different the two credit unions are (in regards to size).

Metro	City of Boston
Headquartered in Chelsea, MA	Headquartered in South Boston, MA
$3.4 billion in assets	$617 million in assets
207,444 members	33,139 members
$2.7 billion in deposits	$521 million in deposits

 Source: NCUA as of December 31, 2023

Who Offers Better Rates?

Metro Credit Union offers higher rates on their CDs and savings accounts. However, Metro Credit Union also has more rules and fees. For example, in order to earn the highest rate on their savings account, the deposit must be at least $10,000 of new money. Metro also has a funky rule with their main share and other accounts. They charge $2-$25 per account, per month for low balances. Finally, Metro is not the best at communicating when rates drop. This information could be helpful if you wanted to move your money to an account that can earn more.

Accounts	Metro	City of Boston
Savings	0.10% - 4.75%	0.10%
CDs	3.50% - 4.75%	0.15% - 1.05%

*APYs as of September 18, 2024. Check each institution for current rates.

How Does Membership Between The Two Differ?

Both credit unions require a $5.00 membership share. City of Boston Credit Union is limited to those that live, work, or go to school in Massachusetts (plus their family members). Metro Credit Union serves members in Massachusetts and New Hampshire (plus family members).

When it comes to banking, we don't think you need to pick one. If you live in Boston, you're probably eligible for both. Mixing and matching accounts can be a smart strategy, but we also want you to know that there are more than two options. Here is a growing list of credit unions in the city. We hope it helps you pick the best one for your needs.