On December 5, 2012, members of MECU of Baltimore received loan interest rebates totaling $1.14 million or 6.25 percent of the interest paid between July 1, 2012 and November 30, 2012. On December 31, 2012, MECU will pay its members extraordinary dividends for the period of July 1 to December 31, 2012.
MECU has paid its members a cash bonus every year since 1981. In 2008, the MECU Board of Directors decided to pay half the cash bonus at the end of June and the remainder in December. For all of 2012, MECU will have returned $4.25 million to its members.
MECU is a member-owned not-for-profit financial cooperative committed to providing its members with high quality financial services through sound management and innovation for over 75 years. It represents 100,000 members, with assets over $1.2 billion.