MECU Pays $2 Million Bonus
BALTIMORE-MECU of Baltimore paid its members a $2-million cash bonus, the first of two installments on its annual $4-million member payout. The $1.2-billion MECU, formally Municipal Employees CU, typically pays out its annual member dividend in July and in December.
"Paying our members this cash bonus reminds them that MECU is truly different," said Herman Williams, chairman of the MECU board.
MECU paid its 100,000 members, many of them Baltimore teachers who don't get paid in the summer, a total dividend of $4.25 million last year, including $2.1 million in July.
Red Rocks Piloting New ATM
HIGHLANDS RANCH, Colo.-The $225-million Red Rocks CU has been chosen to pilot a next generation ATM being developed by CO-OP Financial Services and Diebold that will perform most of the transactions of a branch, including loan payments. CO-OP said the NextGen ATM will work with all shared branching platforms within the CO-OP Shared Branching network.
The NextGen ATM is a software solution that allows credit unions to use existing Diebold ATMs. Members can opt for a shared branching option to access all of their accounts with the credit union, not just those linked to the card.