MECU of Baltimore Pays Loan Interest Rebate

For Immediate Release
Dorothea Stierhoff
Sr. Public Relations Manager
MECU of Baltimore, Inc.

December 7, 2011, Baltimore, MD — Continuing its tradition started in 1981, MECU of Baltimore Inc. paid its members a loan interest rebate of $1,139,000, or 6% of the interest they paid on their loans between 6/25/11 and 11/30/11.  MECU also will pay its members an extraordinary dividend on deposit accounts the end of December.

This rebate is in addition to over $2 million cash bonus that was paid members in June this year.  By the end of 2011, MECU will have paid its members over $4 million in cash bonuses.

MECU has paid its members this cash bonus yearly since 1981.  In 2008, the MECU Board of Directors decided to pay half the cash bonus at the end of June and the remainder at the end of December in order to help members dealing with financial issues of the recession.  It is expected that members will receive the second half of the cash bonus in December. 

MECU is a member-owned not-for-profit financial cooperative committed to providing its members with high quality financial services through sound management and innovation for over 70 years.  It represents over 99,000 members, with assets over $1.1 billion.

More News