The $1.2 billion Municipal Employees Credit Union of Baltimore said Friday ithas completed a merger with the $2.6 million Mercy Health ServicesEmployees Federal Credit Union.
|The accounts of 1,017 members of the financially strugglingMercy Health Services Employees FCU in Baltimore have beenconverted to MECU accounts. NCUA financial reports showyear-over-year loan income dropped from $125,929 in 2008 to $96,252in 2011 at Mercy Health Services Employees FCU. In the same timeperiod, the credit union's investment income fell from$15,389 to $5,694 in 2011.
|MECU also announced it recently held a grand opening for asecond student-run branch at Reginald F. Lewis High School forBusiness and Law in Baltimore.
|In addition to the ribbon cutting, the first transaction andtours of the new student branch, the grand opening event featuredspeakers such as Bert J. Hash Jr., president/CEO of MECU, Barney J.Wilson, principal of Reginald F. Lewis School of Business and Law,and Caroline Fugett, the mother of the late Reginald F.Lewis, who was a highly successful entrepreneur and became thefirst African-American to develop a billion-dollar corporation,Beatrice Foods.
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