Two credit unions have applied to the Massachusetts Division of Banks to expand their fields of membership.

Lowell-based Align Credit Union, which has more than $570 million in assets and more than 28,000 members, is seeking permission to amend its bylaws to add membership for individuals who live, work or attend school in Suffolk County and all cities and towns within Norfolk County not already included in its current membership. Family members of such persons would also be allowed to become members.

The credit union’s membership already includes about 110 communities in Northeastern Massachusetts and another 47 communities in New Hampshire.

Meanwhile, Tremont Credit Union, which has more than $175 million in assets and close to 19,000 members, is seeking permission to amend its by-laws to expand membership for employees of the Massachusetts Biotechnology Council in Cambridge and immediate family members of such persons.

Currently, Tremont’s membership is open to those who live or work in the Suffolk, Norfolk or Middlesex counties, and all who worship in Suffolk County. Membership is also open to many select employer groups throughout Massachusetts including the Boston Public Schools, Blue Cross Blue Shield of Massachusetts, Boston Children’s Hospital and the Dana Farber Cancer Institute. Family members of members are also able to be members.

The comment period for both ends May 28.

Align CU, Tremont CU Seek to Expand Field of Membership

by Bram Berkowitz time to read: 1 min
0