MECU celebrates successful year by sharing $1.75 million in profits
BALTIMORE, MD (January 24, 2018) — 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.
About MECU
Established in 1936, MECU is Baltimore City’s largest credit union, with assets of approximately $1.2 billion. MECU has nine branches throughout the Baltimore area and offers a full range of financial products and services. The credit union also provides access to over 30,000 free ATMs and 5,000 shared branches nationwide through the CO-OP network. MECU has distinguished itself in the Baltimore community by returning more than $90 million in profits to its members as part of a cash bonus program that rewards members for choosing MECU. Membership with MECU is open to anyone who lives, works, worships or attends school in Baltimore City. Learn more at
www.mecu.com.
For inquiries, contact Tim Rozalski:
trozalski@mecu.com / (410) 223-4020
