WELCOME to Metro. Your Guide to Membership

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1 WELCOME to Metro Your Guide to Membership

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3 WELCOME TO METRO! A Letter from the CEO Dear Valued Member: We are happy to report that the merger between Metro Credit Union and Malden City Employees Credit Union is underway. This partnership will instantly provide you with a wide array of innovative loan, mortgage, deposit, and investment solutions. You will also have access to 15 full-service branches. Our goal is to make the transition as smooth as possible and provide you with uninterrupted service. Your accounts will transfer into the Metro accounts that most closely match the features and benefits of your existing MCECU accounts. At the end of the day on October 31, 2015, we will complete the system conversion, giving you full access to our branches, ATM Network, Online Banking, and financial services. This guide provides valuable information about your existing accounts and the conversion process. However, if you still have questions, you can visit our website at metrocu.org to learn about everything that Metro has to offer or call 877-MY-METRO to speak with a representative. On behalf of our Board of Directors and the entire credit union team, thank you for your support during the merger, and welcome to Metro Credit Union! Sincerely, Robert M. Cashman President & CEO Metro Credit Union 1

4 MERGER TIMELINE This comprehensive merger guide was designed to answer the most frequently asked questions about the merger and describe the changes to your accounts and services. Week of October 19, You will receive a welcome letter with your new Metro account number and instructions on how to access Online Banking and Telephone Banking. Week of October 19, You will receive your ATM/Debit Card. - If you have a checking account, you will receive new checks. Friday, October 30, The Malden City Employees Credit Union branch, located at 200 Pleasant Street, will close. - MCECU Online Banking and Telephone Banking will no longer be available. End of Day on Saturday, October 31, The Malden City Employees Credit Union and Metro Credit Union merger will take place. Sunday, November 1, Metro s Online Banking, Mobile Banking, Telephone Banking, and ATMs will be available. Monday, November 2, You will have access to Metro s branch network; please see our locations and hours of operation in this guide. Week of November 9, You will receive your last Malden City Employees Credit Union statement. For more information about your specific accounts, including applicable fees, please see the enclosed Change in Terms, account disclosures, and Membership & Account Agreement. 2

5 ACCOUNT INFORMATION Account Numbers Effective November 1, 2015, your account number will change. Your new account number will have 8 digits, but to ease your account transition, we have maintained your existing Malden City Employees Credit Union account number and added a prefix beginning with 8, plus 0 s as needed to make the number 8 digits. Example: MCECU Member Number: New Metro Member Account Number: All of your current MCECU accounts will be attached to this member account number and designated by a two digit suffix; for example: Member Account Number: Savings Account: Club Account: Loan Account: Direct Deposit & Automatic Transfers/Deductions - Your direct deposit will continue without interruption. - If you have pre-authorized transactions from your MCECU checking account, such as a gym membership, mortgage, or insurance payment, these transactions will continue from your new Metro checking account without interruption unless you have set up the authorization using your debit card, in which case you will need to provide the company with your new debit card number. - Your automatic payroll transfers between your accounts will also continue without interruption. - Metro s routing & transit number is Statements - You will receive your final MCECU statement the week of November 9, Your Metro account statements will have a new look. - If you have checking accounts or loans, you will receive regular monthly statements, which will also include your savings account activity. - All other accounts will receive a quarterly statement, unless you perform a transaction via ATM, audio response, or have ACH activity, in which case you will receive a statement for that month. Enroll in estatements! Better for the environment, easier for you! Learn more about estatements on page 7. 3

6 Savings* PRODUCTS TRANSITION - Malden City Employees Credit Union Prime Share will convert to a Metro Regular Savings Account. Interest will be compounded and credited monthly based on the average daily balance in your account. Special Savings Account* - MCECU Special Savings funds will be transferred to a Savings Account. *Savings accounts are free when a minimum balance of $150 is maintained or you have an associated loan. If conditions are not met a $2.00 low balance fee will be assessed. Checking - All MCECU checking accounts will transition to a Metro My Reward Checking account, which offers no monthly maintenance fee with direct deposit. If you do not have direct deposit and would like a Free Checking account instead of My Reward Checking, call 877-MY-METRO and we will be happy to change the account for you. For more details, see page Please stop using your MCECU checks after October 31, All MCECU checking accounts will receive a complimentary set of checks to be sent to you during the week of October 19, Please start using your new Metro checks on November 1, Any outstanding MCECU checks will clear through your new Metro account. - For your security, please be sure to destroy your unused MCECU checks, or drop them off at any Metro branch location for shredding. ATM & Debit Cards ATM -Members who have only a Savings Account will receive a Metro ATM Card the week of October 19, Your Personal Identification Number (PIN) will be sent to you in a separate mailer. You may change your PIN at any Metro ATM or branch location. -Begin using your new Metro ATM Card on Sunday November 1, Please note that the cash limit on a Metro ATM Card is $500 per day. - You will no longer be able to make Point of Sale transactions through your savings account. Debit - You will receive a Metro Debit Card during the week of October 19, Your Personal Idenitification Number (PIN) will be sent to you in a separate mailer. You may change your PIN at any Metro ATM or branch location. - You will no longer be able to use your MCECU Debit Card after October 31, At that time, please destroy your card. - Begin using your new Metro Debit Card on Sunday, November 1, Please note that the cash limits on the Metro debit cards are $500 per day for cash withdrawals, $1,500 per day for point of sale transactions, with a daily maximum of $2,000. Savings are federally insured by the National Credit Union Administration up to $250,000. Deposits above $250,000 are fully insured by the Massachusetts Credit Union Share Insurance Corporation. 4

7 PRODUCTS TRANSITION Christmas Club - Funds from your MCECU Christmas Club will be disbursed by check on November 2, Your MCECU Christmas Club will convert to a Metro Christmas Club Account. Interest will be compounded and credited monthly based on the average daily balance in your account. The disbursement date will be October 1, 2016 and funds will be transferred to your savings account. Certificates of Deposit (CDs) - The rate of interest you receive, maturity date, and terms and conditions of your MCECU CD will remain the same through maturity. You will receive a maturity notice at least 30 days prior to the maturity date. At that time, you will be able to make changes to your CD. Upon renewal, CDs will be subject to Metro terms and conditions. Please see the enclosed Truth in Savings for details. Consumer Loans, Mortgages, & Home Equity Effective November 1, 2015, if you currently mail in your loan payment, please mail all Consumer Loan, Mortgage, and Home Equity payments to: Metro Credit Union PO Box 9100 Chelsea, MA Consumer Loans - Your loans will not change; the rate, payment amount, and terms and conditions of your existing consumer loans will remain the same. - Automated payments from your accounts will continue as established. - If you have a personal Line of Credit Loan, you will receive a complimentary set of checks. Please start using them on November 1, New loans established on or after November 1, 2015 will be subject to Metro rates, terms, and conditions. - Future loan requests will require a new application and signed note. Mortgages & Home Equity - If you have a Mortgage, your loan terms and conditions will remain the same. - If you have a Home Equity Line of Credit, you will be receiving a set of complimentary checks. You may start using your new Metro checks on November 1, Additional details regarding your Home Equity will be sent to you in a separate mailing. - A combined MCECU and Metro 1098 mortgage interest statement for 2015 will be sent to you for tax purposes. Overdraft Transfers from Savings to Checking - Overdraft transfers will continue through your designated savings account with Metro Sweep*. If your checking account becomes overdrawn and you have sufficient funds available in your designated account, the funds will be automatically transferred to your checking account. Please Note: If you have a revolving line of credit linked to your checking account, this will be accessed first to cover insufficient funds. *A $5 transfer fee applies to each Metro Sweep transfer. 5

8 PRODUCTS & SERVICES Savings - Regular Savings - Club Accounts - Money Market Accounts - High Yield Savings Account - IRA Accounts - Student Accounts - My Reward Savings Checking - My Reward Checking - Free Checking - Prestige Checking - Silver Checking Free Services - Online Banking - Bill Pay - Mobile Banking - Pop Money - Remote Deposit - Text Banking - Bank to Bank Transfers - Telephone Banking - estatements Mortgage Programs - MassHousing Programs - Biweekly Mortgages - Fixed & Adjustable Rate Mortgages - Jumbo Mortgages - Home Equity Loans & Lines of Credit Consumer Loans - New, Used, and Refinanced Vehicle Loans - Personal Lines of Credit - Credit Builder Loan - Mass Save HEAT Loan - Student Loans - Overdraft Protection - Visa Elite Credit Card - Platinum MasterCard - Visa Secured Credit Card Commercial Services - Business Interest Checking - Business Savings, Money Markets, and CDs - Business Loans and Lines of Credit - Commercial Real Estate Loans - Business Credit Cards - Merchant Credit Card Services INVESTMENT SERVICES The Metro Investment Services program is designed exclusively for credit union members. This program offers various insurance and investment options that complement traditional credit union savings plans. Experienced investment services professionals help you make the right financial decisions for you and your family. Metro Investment Services Representatives offer a no-cost, no-obligation meeting for assistance with mutual funds, insurance needs, retirement planning, and more. To schedule a meeting, call 877-MY-METRO. Securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor. CBSI is under contract with the financial institution to make securities available to members. Not NCUA/NCUSIF/FDIC insured, May Lose Value, No Financial Institution Guarantee. Not a deposit of any financial institution. 6

9 CONVENIENCE SERVICES At Metro, eservices are open 24/7 with Metro s Online and Mobile Banking. Get fast, free, and secure access to manage your accounts at your own convenience. Online Banking is also your portal to many other convenient and FREE online services including: - Remote Deposit - Bank to Bank Transfers - Text Banking - Bill Pay - estatements - ealerts How do I access Online Banking? Go to Metro s website at metrocu.org. On the home page in the upper right hand corner is the Online Banking login. You will need to click the Enroll button and enter your new Metro member account number and the primary account holder s Social Security Number. Complete the steps to enroll in Online Banking. estatements estatements are free, convenient, and secure. If you received estatements with MCECU, follow the steps below to begin receiving estatements from Metro: 1. Log in to Online Banking 2. Click on settings, profile, and then statement delivery preferences 3. Fill out the form and click submit 4. Once you ve completed the above steps, your estatements will be available for viewing Mobile Banking Our app put the most popular features from online banking right in the palm of your hand! These apps are designed specifically for your Smartphone, ipad, or Android Tablet, and are easy to navigate. Whether you want to check your balance, pay a bill, deposit a check or locate an ATM, managing your account has never been easier. You will need to log in to Online Banking first before you can access the mobile app. For more information, visit metrocu.org/mobile. Telephone Banking Metro's automated Telephone Banking is easy and it's FREE. Using Telephone Banking and any touch-tone phone, you can check account balances, transfer funds, see if a check has cleared, request a check and much more! To access Telephone Banking, call , Option 2. The first time you login you will use your new Metro member account number and the last four digits of the primary account holder s social security number. 7

10 ADDITIONAL SERVICES Metro offers additional services that make banking easier and stress-free. We also offer loans that can improve your home and your credit. Courtesy Pay* Courtesy Pay covers check or ACH transactions that otherwise would be returned for insufficient or unavailable funds. All eligible checking accounts will automatically be extended Courtesy Pay service once members have met the established criteria listed in the Truth in Savings disclosure. However, the 30 day waiting period will be waived for all existing MCECU checking accounts. Courtesy Pay Plus* Courtesy Pay Plus will offer all of the same benefits of our standard Courtesy Pay program - plus coverage of ATM transactions and everyday debit card transactions from your checking accounts. Due to regulations, you must opt in to Courtesy Pay Plus. To opt in to Courtesy Pay Plus, visit any branch location or metrocu.org. HEAT Loan Metro participates in the Mass Save Residential HEAT Loan Program to offer members 0% interest loans for up to $25,000, with terms up to 7 years for the purpose of making energy efficient improvements to your home. For more information, visit metrocu.org/heatloan. Subject to credit approval. Estimated cost per $1,000 calculate on maximum term available. 0% APR for 84 monthly payments of $11.91 per $1,000 borrowed. Loan terms are based on finance amount. IRA Accumulator Metro's IRA Accumulator makes saving for retirement easy with weekly, bi-weekly, or monthly contributions to your IRA. This convenient method spreads your IRA contribution over the entire year, helping you to save regularly. This is a great way to save up to $5,000 each year for your retirement. Only $10 to open an account and is available for Traditional, Roth, or Coverdell IRAs. We also offer IRA CDs. For more information or to open an account, visit metrocu.org. *Whether or not your overdraft(s) will be paid is discretionary, and we reserve the right not to pay your overdraft(s) if your account does not meet the Credit Union s criteria for the service as outlined in the Truth in Savings Disclosure. When the Credit Union pays an overdraft, you agree to bring the account to a positive balance within 10 days. Accounts with a sustained negative balance may be subject to closure and reported to consumer reporting agencies. Fees apply; see current Metro Fee Schedule. Fees charged for covering an overdraft, as well as the amount of the overdraft item(s) will be subtracted from your available Courtesy Pay limit. 8

11 ADDITIONAL SERVICES Commercial Services At Metro, you ll find everything you and your business need to prosper - all under one roof. We offer a full range of affordable business banking services, including: - Business Interest Checking - Business Savings, Money Markets, and CDs - Business Loans and Lines of Credit - Commercial Real Estate Loans - Business Credit Cards For more information, visit metrocu.org/commercial. Credit Builder Loan If you have limited or damaged credit, we re providing an opportunity to improve your credit score. With a Credit Builder Loan, the money borrowed is secured in your savings account for the term of the loan. Loan Features: - Loan amount from $500 - $3,000 - Terms up to 24 months - Low 4.10% APR* - Loan funds deposited into a Metro Savings account, where it will earn dividends - Generate installment loan credit history to improve your credit score For more information or to apply, visit metrocu.org/creditbuilder. *Annual Percentage Rate. Estimated cost per $1,000 calculated on maximum term. 4.10% APR for 24 monthly payments of $43.49 per $1,000 borrowed. Rates and terms subject to change. All loan approvals are subject to normal underwriting qualifications. Popmoney Need to pay a friend for a concert ticket, dinner out, or anything else? Send them your payment via Popmoney. They ll get an alert via text or . You can even expedite payments! It s easy to get started: Step 1: Log in to Online Banking. Step 2: If you re not already enrolled in Bill Pay, follow the enrollment instructions. Step 3: Click on Pay People after enrolling. Step 4: Simply follow the instructions to send money. *$5 fee applies to express payments. 9

12 CHECKING ACCOUNTS Metro offers a variety of checking account options. One is sure to be a great fit for the way you work and live. Here are the two most popular accounts: MY REWARD CHECKING No ATM fees, PLUS cash back on your debit card purchases! - Free ATMs and unlimited refunds of other banks ATM fees - Earn 3 reward with every debit card purchase, up to $250 per year - No monthly maintenance fee with direct deposit* - High rate on My Reward Savings - Free Online Banking & Bill Pay - estatements required ** Minimum $25 to open My Reward Checking *Monthly fee $22 without direct deposit. **estatements required to avoid a $3 monthly paper statement fee. Minimum $5 to Open My Reward Savings. Limit one savings per person and must be linked to My Reward Checking. FREE CHECKING No maintenance fee, ever - a plain and simple account that saves you money. - No monthly maintenance fee - No minimum balance - Unlimited check writing - Free Online Banking & Bill Pay - Minimum $25 to open To open a My Reward Checking or Free Checking account, visit metrocu.org or any branch location. 10

13 MASS SAVE HEAT LOAN Metro participates in the Mass Save Residential Heat Loan Program to offer members 0% interest loans for up to $25,000 with terms up to 7 years. 0% APR* HEAT Loan - Borrow $500 - $25,000 - Terms up to 7 years - Easy online application Subject to credit approval. Estimated cost per $1,000 calculated on maximum term available. 0% APR for 84 monthly payments of $11.91 per $1,000 borrowed. Loan terms are based on finance amount. CREDIT CARDS Platinum MasterCard Metro's Platinum MasterCard is the flexible card designed to meet all of your needs. Enjoy a low rate PLUS earn CURewards Points* on all of your purchases! *Points expire 3 years from each calendar year in which they are earned. Visa Elite Metro's Visa Elite Credit Card is the most convenient way to manage your finances. Use your card to make purchases, pay bills, consolidate debt, or get a cash advance. Use it anywhere Visa credit cards are accepted. Visa Secured If you are looking to establish or repair your credit, our Metro Visa Secured card might be right for you. Funds are guaranteed by a Metro savings account. Visit metrocu.org/creditcards for more information. Rate may vary and is subject to change. All loans are subject to credit approval. Minimum finance charge is 50. The fee associated with foreign transactions converted to US currency is 1%. The ATM cash advance fee is 95. VACATION CLUB ACCOUNTS Start planning now for your next vacation... OPEN A VACATION CLUB TODAY! Open with just $10 and by next summer, you ll be ready for your dream vacation! To open yours now. Call 877-MY-METRO or visit metrocu.org today! 11

14 LOCATIONS & HOURS The current MCECU branch will close for business on Friday, October 30, Beginning November 2, please visit any of Metro s locations listed below. Metro s Melrose Branch is just under 2 miles away at 138 Main Street. Boston - Albany St. 710 Albany St. Boston, MA Monday - Tuesday: 8:30 AM - 4:00 PM Wednesday - Thursday: 7:30 AM - 4:00 PM Friday: 8:30 AM - 4:00 PM Boston - Commonwealth Ave. 922 Commonwealth Ave. Boston, MA Monday - Wednesday: 8:30 AM - 5:00 PM Thursday: 8:30 AM - 6:00 PM Friday: 8:30 AM - 5:00 PM Boston - Massachusetts Ave Massachusetts Ave. Boston, MA Monday - Wednesday: 8:30 AM - 5:00 PM Thursday - Friday: 8:30 AM - 6:00 PM Saturday: 8:30 AM - 1:00 PM Drive-Up Window Hours: Monday - Wednesday: 7:30 AM - 5:00 PM Thursday & Friday: 7:30 AM - 6:00 PM Saturday: 8:30 AM - 1:00 PM Drive-Up ATM Available Boston - Government Center 100 City Hall Plaza Boston, MA Monday - Thursday: 8:00 AM - 4:00 PM Friday: 7:30 AM - 4:00 PM Chelsea Main 200 Revere Beach Pkwy Chelsea, MA Drive-Up Window Hours: Monday - Wednesday: 7:30 AM - 5:00 PM Thursday & Friday: 7:30 AM - 6:00 PM Saturday: 8:30 AM - 1:00 PM Drive-Up ATM Available Chelsea - Broadway 365 Broadway Chelsea, MA Framingham 1124 Worcester Rd. Framingham, MA Drive-Up Window Hours: Monday - Wednesday: 8:30 AM - 5:00 PM Thursday & Friday: 8:30 AM - 6:00 PM Saturday: 8:30 AM - 1:00 PM Drive-Up ATM Available Burlington 120 Cambridge St. Burlington, MA

15 LOCATIONS & HOURS Lawrence 215 South Broadway Lawrence, MA Drive-Up Window Hours: Monday - Wednesday: 8:30 AM - 5:00 PM Thursday & Friday: 8:30 AM - 6:00 PM Saturday: 8:30 AM - 1:00 PM Drive-Up ATM Available Lynn 475 Western Ave. Lynn, MA Drive-Up Window Hours: Monday - Wednesday: 8:30 AM - 5:00 PM Thursday & Friday: 8:30 AM - 6:00 PM Saturday: 8:30 AM - 1:00 PM Melrose 138 Main St. Melrose, MA Monday - Wednesday: 8:00 AM - 5:00 PM Thursday & Friday: 8:00 AM - 6:00 PM Peabody 68 Main St. Peabody, MA Salem 4 Paradise Rd. Salem, MA Tewksbury 1527 Main St. Tewksbury, MA Drive-Up Window Hours: Monday - Wednesday: 8:30 AM - 5:00 PM Thursday & Friday: 8:30 AM - 6:00 PM Saturday: 8:30 AM - 1:00 PM Drive-Up ATM Available Newton 334 Watertown Street Newton, MA Monday - Wednesday: 8:30 AM - 4:00 PM Thursday & Friday: 8:30 AM - 6:00 PM Saturday: 9:00 AM - 1:oo PM Questions? Please call our Member Service Center at 877-MY-METRO ( ). Federally insured by NCUA Member MSIC NMLS #

16 877-MY-METRO metrocu.org Federally insured by NCUA. Member MSIC. Equal Opportunity Lender. NMLS # (9/15)