Jan 12, 2012 10:00 AM ESTMECU of Baltimore Pays Members over $4 Million in 2011
MECU of Baltimore paid members an extraordinary dividend of over $1 million.
January, 2012, Baltimore, MD --- On December 31, 2011, MECU of Baltimore paid its members an extraordinary dividend of over $1 million. This was in addition to a loan interest rebate of $1.1 million paid the end of November and the over $2 million cash bonus paid members in June. During 2011, MECU paid its members over $4 million in cash bonuses.
January, 2012, Baltimore, MD --- On December 31, 2011, MECU of Baltimore paid its members an extraordinary dividend of over $1 million. This was in addition to a loan interest rebate of $1.1 million paid the end of November and the over $2 million cash bonus paid members in June. During 2011, MECU paid its members over $4 million in cash bonuses.
MECU has paid its members a cash bonus yearly since 1981. In 2008, the MECU Board of Directors decided to pay half the cash bonus at the end of June and the remainder at the end of December in order to help members dealing with financial issues of the recession. MECU paid the winter loan interest rebate in November to provide members with some extra cash before the holidays.
MECU is a member-owned not-for-profit financial cooperative committed to providing its members with high quality financial services through sound management and innovation for over 70 years. It represents over 99,000 members, with assets over $1.1 billion.
