The $1.1 billion MECU of Baltimore has paid its members a loan interest rebate totaling more than $1 million and expects to pay an additional bonus dividend on deposit accounts at the end of December, the CU announced.
Members received rebates of 6% of the total interest they paid on their loans between June 25 and Nov. 30, 2011. The credit union's latest loan interest rebate payout totaled $1,139,000.
In June 2011, MECU paid a bonus dividend of more than $2 million to its membership, which encompassed a loan interest rebate and bonus dividend on deposit accounts.
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