BALTIMORE – MECU of Baltimore, which pays a special dividend twice a year, said last week it will pay this season’s $1.4 million payment 30 days early to help members in their holiday shopping.
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We decided to pay our members the loan interest rebate early this year to help families shopping for the holidays, said Herman Williams Jr., chairman of the MECU board. This has been a tough year for some of our members, and I'm glad we're in a position to do something to help.
MECU has paid its members a cash bonus consisting of loan interest rebates and extraordinary dividends every year since 1981. In 2007, the $960-million credit union began paying half the bonus in June and the second half in December.
