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.
While the numbers spell loyalty, Beall said the challenge for all credit unions is to look at further penetration.
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