LYNN, Mass. — Another Massachusetts Credit Union is considering calling it quits as a credit union and perhaps opening its doors as a mutual bank.
According to a notice posted on its Web site, the board of directors of the $128 million Community Credit Union of Lynn will meet on May 30 to decide whether the credit union should apply to change its charter to that of a state chartered mut-ual bank.
Should it decide to do so, Community will be the second Massachusetts credit union to consider making the change. In early April, the $114 million First Priority Credit Union, which had formally been Postal Community, confirmed that it had also begun the process, albeit to a federally chartered mutual.
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