BALTIMORE — For the 25th consecutive year, MECU of Baltimore, Inc. returned money to its members in the form of loan interest rebates and dividends.
For 2006, members received their share of $4.25 million. Loan interest rebates were deposited into members' share accounts on Dec. 1, and the dividends were deposited on Dec 31. The amount that each member received depended on the amount of interest he or she paid on loans over the past year, and the amount of dividends received on deposit accounts, according to the $800 million credit union.
"The loan interest rebate and extraordinary dividend are just two ways MECU shows its commitment to its members," said Bert Hash, president/CEO. "That commitment is also seen in the products and services we offer, and the ongoing financial education we provide to help our members have the knowledge needed in today's complicated financial marketplace."
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This is the 25th consecutive year MECU has returned money to its members.
"All of the board members worked diligently to return value to the credit union members," said Herman William, MECU board chairman. "We are so proud of this 25 year history of returning cash at the end of the year. It clearly shows our members that they are the owners of the credit union."
MECU serves more than 83,000 members.
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