BALTIMORE – MECU said it paid its members a year-end loan interest rebate and an extraordinary dividend of $2.12 million–making a total of $4.25 million paid out to members for 2007.
The $830 million credit union, which has made the extraordinary member payout for 26 years in a row, did so in two installments for the first time this year–once at mid-year and once at year-end.
Loan interest rebates were deposited into members’ share accounts on Dec. 3, 2007 and the extraordinary dividends were deposited on Dec. 31. The amount that each member received depended on the amount of interest he or she paid on loans over the past year, and the amount of dividends received on deposit accounts.
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