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Baltimore MECU pays members 4.2M in cash bonuses
BALTIMORE (7/12/10)--MECU of Baltimore Inc. members received loan interest rebates and extraordinary dividends on June 29 and June 30, depositing more than $2.1 million into their accounts. The payments are the first half of an anticipated annual cash bonus totaling more than $4.2 million. “MECU has paid its members a cash bonus every year since 1981,” said Herman Williams Jr., MECU board chairman. “We are especially glad that we can continue this during a time of economic hardship. Many of our members work for Baltimore City and have had furlough days and other cutbacks. We’re glad that we can make finances a little easier for these members.” “The safety and security of our members’ money is at the forefront of what we do on a daily basis,” said MECU President/CEO Bert J. Hash Jr. “Because of this approach to financial management, MECU has grown steadily to where we reached more than $1 billion in assets last year.”


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