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On-Site Coverage: Maryland, D.C Credit Unions Popular Among African-Americans

When it comes to penetrating the African-American population and meeting their financial needs, credit unions in Maryland and the District of Columbia are going above and beyond.

By Michelle A. Samaad | Updated on August 10, 2007

BALTIMORE — When it comes to penetrating the African-American population and meeting their financial needs, credit unions in Maryland and the District of Columbia are going above and beyond.

Speaking at the African-American Credit Union Coalition’s annual conference here yesterday at the Renaissance Harbor Place Hotel, Michael Beall, president/CEO of the Maryland and District of Columbia Credit Union Association, told attendees 52% of African-Americans in both areas belong to credit unions. Another 82% of African-Americans that make more than $75,000 belong to credit unions and 31% of African-American women consider Maryland credit unions to be their primary financial institution.

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