MECU, Baltimore’s Credit Union, paid $1.75 million in cash bonuses to its members in 2017. This marks the 37th consecutive year that MECU’s Board of Directors has approved returning annual profits directly to its members.
Comprised of loan interest rebates and bonus interest dividends, the payouts are made bi-annually in July and December to members based on their banking relationships. Since 1981, MECU has returned more than $81 million in the form of cash bonuses to its members.
“As a result of our strong financial performance in 2017, we are pleased to continue the tradition of sharing a portion of our profits with our member-owners and the Baltimore community,” said John Hamilton, MECU President and CEO. “The member bonus is our way of showing appreciation to our members for their continued loyalty and support of the credit union.”
For more information about the member bonus and how it is calculated, visit https://www.mecu.com/bonus.