Chairman & CEO Message

A letter from MECU's Chairman and CEO/President

August, 2011

Valued Members:

This year marks MECU’s 75th year of serving our members and our community. The credit union was founded in 1936 at the height of the Great Depression to provide affordable financial services to Baltimore City employees. By the end of MECU’s first year there were 448 members and assets of $10,031. Today MECU has 100,000 members and assets over $1.1 billion.

Over the years, we have expanded who is eligible to become a member of MECU. Today, everyone who lives, works, worships or attends school in Baltimore City can join MECU, and anyone who is a family member of a MECU member can join. Also, businesses within five miles of our branches can offer MECU membership as a benefit to their employees without increasing their costs.

We want to make sure that everyone who qualifies for MECU membership understands the benefits of joining our credit union. MECU offers great products such as a free checking account with interest that includes free online banking and bill payer. We have some of the best rates on loans and deposits in the area and our fees are among the lowest.

We have also made it possible for MECU members to have access to their accounts almost anywhere in the US through a network of shared branches and surcharge-free ATMs. Credit unions across the country joined together to serve members of other credit unions who are away from their local branch. Members also have access to a network of thousands of surcharge-free ATMs, many in convenient locations such as 7-Elevens.

These services alone show the benefit of belonging to MECU. Since 1981 we have also returned earnings to our members as extraordinary dividends and loan interest rebates every year. In June we returned $2 million and we also plan to return that amount in December for a total of $4 million in 2011.

As we pull through this economic downturn, we will continue to return value to our members and would like to invite everyone who qualifies to be a MECU member to join us. Please take a look at all we have to help you manage your finances on our website at www.mecu.com. If you have any questions, please give us a call at 410-752-8313. We look forward to serving you and all our members for many more years.

Sincerely,

Herman Williams Jr.
Chairman of the Board

Bert J. Hash Jr.
President and Chief Executive Officer