BALTIMORE—Municipal Employees Credit Union of Baltimore reported it returned $2.5 million in cash bonuses to its members in 2016.
The bonuses, which members received in the form of loan interest rebates and bonus interest dividends, were made possible by the credit union’s strong financial performance.
The payments mark the 36th consecutive year that MECU has returned a portion of profits to its members. In total, MECU has returned more than $80 million to members since 1981, it said.
“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, in a statement. “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.”