BALTIMORE – MECU of Baltimore, which paid its members a $2 million mid-year bonus in July, paid another $1.14 million on December 5, and plans one more bonus before the end of the year.
The $1.2 billion credit union, formally Municipal Employees CU, has been paying its members a semi-annual bonus, as many members are teachers and aren’t paid during the summer.
The credit union is finishing up one of its most successful years ever with a $6.7 million net for the first three quarters of the year, up from $6.1 million last year.
This year’s holiday bonus amounts to $6.25% of interest earned between July 1 and November 30. MECU will pay its members extraordinary dividends for the period of July 1 to December 31, on December 31, its third bonus dividend of the year.
For all of 2012, MECU will have returned $4.25 million to its members.