Municipal Employees Credit Union of Baltimore gave back $2.5 million cash bonuses to members in 2016.
The $1.2 billion credit union said members received the bonus funds in the form of loan interest rebates and bonus interest dividends on deposits.
MECU launched the annual bonus program 36 years ago and has returned more than $80 million to members since 1981.
“As a financial cooperative, we’re delighted to share a portion of our profits with our member-owners for the 36th year in a row,” said John Hamilton, MECU president and CEO. “The cash bonus allows us to reward and thank our members for their continued loyalty. It’s a highlight of our year and demonstrates that it truly pays to be a member of MECU.”
Baltimore’s largest credit union, MECU was chartered in 1936 and now has nine branches.
