African-Americans in Maryland, D.C Gravitate to Credit Unions

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 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.