REGULATING AGENCY: Massachusetts Division of Banks
- Mary Gallagher Commissioner
- Jay Bienvenu Senior Deputy Commissioner
- Website: mass.gov/orgs/division-of-banks
- News and Announcements
LEAGUE: Cooperative Credit Union Association
PRIVATE SHARE INSURANCE: No
STATS: (As of June 2021)
Total Number of Credit Unions: 151
- TOTAL # SCUs: 56
- TOTAL # FCUs: 95
- SCU % OF TOTAL (SCUS #/STATE TOTAL #): 37%
Total Assets: $48,682,878,299
- TOTAL $ SCU ASSETS: $19,787,206,424
- TOTAL $ FCU ASSETS: $28,895,671,875
- SCU % OF TOTAL ASSETS (SCUS $/STATE TOTAL $): 41%
Total Members: 3,208,219
- TOTAL Members SCUs: 1,093,733
- TOTAL Members FCUs: 2,114,486
- SCU % OF TOTAL (SCUS/STATE TOAL): 34%
FUN FACT: Sixteen of the top 25 windiest U.S. cities are located here. It’s a good thing Boston has the T to protect people from cold and windy weather. In fact, Boston established the country’s first subway system in 1897.
July 2021 — Living their philosophy of ‘people helping people’, Credit Unions in Massachusetts donated $157,637 to “A Bed for Every Child,” an initiative of the Massachusetts Coalition for the Homeless (Coalition), at the Stephen D. Jones Credit Union Charity Golf Tournament.
Ronald McLean, President/CEO of the Cooperative Credit Union Association (CCUA), shared his appreciation to all the credit unions and supporters who are making a difference in the lives of so many children in need of a bed, saying, “The Massachusetts Credit Unions can be proud of their efforts, specifically their leadership role, as credit unions continue to lead the charge in helping the Coalition grow ‘A Bed for Every Child’ program.” ‘A Bed for Every Child’ began in 2012 when a concerned inner-city, public school teacher reached out to the Massachusetts Coalition for the Homeless. The teacher shared that many of her students were coming to school extremely tired because they did not have a bed. Knowing that many of the students’ parents could not afford to purchase one, she wondered if the Coalition could help get beds for some of her students – that one inquiry launched
‘A Bed for Every Child.’
Robyn Frost, Executive Director, Massachusetts Coalition for the Homeless, was touched by the generosity of the Massachusetts Credit Unions, saying, “At the start of the pandemic, we needed to shift gears. If Dominos can deliver pizza curbside and contactless, we thought why can’t we deliver beds in the same fashion? And that’s what we did. We just couldn’t have groups build the beds and so our staff was busy, building and delivering beds to more than 2,800 children throughout the state last year and through the generous support of the credit unions, we didn’t miss a beat. We thank you all.”
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