MECU of Baltimore Pays Members over $2 Million
Sr. Public Affairs Specialist
MECU of Baltimore, Inc.
July 16, 2012, Baltimore, MD — On July 2 and 3, MECU of Baltimore paid its members a cash bonus of over $2 million. Members received the extraordinary bonus dividends in their accounts on Monday, July 2 and the loan interest rebates were deposited on the morning of July 3.
“Paying our members this cash bonus is very important to us,” said Bert J. Hash Jr., President and CEO of MECU. “Our members put their trust in us to manage their funds well and this cash bonus is just one way that we are able to show our members that we deserve that trust.”
“We talk about the Credit Union Difference all the time,” said Herman Williams Jr., Chairman of the MECU Board of Directors. “Paying our members this cash bonus reminds them that MECU truly is different.”
MECU has paid its members a cash bonus every year since 1981. In 2008, the MECU Board of Directors decided to pay half the cash bonus at the end of June and the remainder in December. Many of MECU’s members are Baltimore City teachers, and receiving some extra funds during the summer can help their cash flow. Many of MECU’s other members are planning vacations during the summer and appreciate having the extra funds also.
At this time, MECU is also planning to pay a cash bonus to its members at the end of the year, which will help many people with holiday bills.
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 75 years. It represents 100,000 members, with assets over $1.2 billion.