Municipal Employees Credit Union Of Baltimore (MECU), a $1.2-billion institution based in Baltimore, Md., said its members received a loan interest rebate last week and will receive an “extraordinary dividend” at the end of this month.
In total, members will have received $3 million in cash bonuses in 2015.
MECU explained that in 2008, its board decided to pay half the cash bonus at the end of June and the remainder in December in order to help the cash flow for employees of the Baltimore City School System which make up a large portion of the membership.
