Baltimore MECU Pays Out $1.5 Million
The $1.2 Municipal Employees Credit Union of Baltimore said it paid $1.5 million to members on June 30.
The Maryland credit union said in a statement that the cash bonus consists of loan interest rebates, which returns part of the interest members paid on loans, and an extraordinary dividend, which adds interest to members’ deposit accounts.
MECU’s board of directors has voted to pay members a cash bonus every year since 1981, according to credit union’s statement.
The credit union serves 105,059 members.