MECU of Baltimore: Your Trusted Credit Union for Financial Services
MECU of Baltimore is a well-established credit union with a strong community commitment, serving over 100,000 members and managing $1.2 billion in assets. Offering a range of financial services, MECU focuses on serving Baltimore City residents, their families, and select employee groups within 5 miles of their branches. With a dedication to community growth and outreach, MECU aims to enhance financial well-being through strategic partnerships with local employers. Discover how MECU empowers its members with convenient and reliable banking solutions.
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Employer-Based and Location-Based Financial Services Through Credit Unions Serving your members outside the credit union walls Aziza Gary, MECU of Baltimore A-1
MECU: Baltimores Credit Union Founded in 1936 during the Great Depression
MECU: Baltimores Credit Union Started with 15 members depositing $10 each Now $1.2 billion in assets, over100,000 members
MECU: Baltimores Credit Union Commerce Centre Lochridge Hamilton Fallstaff Fayette remote branch Redwood Westview PJM Dundalk Members served through 9 branches
MECU: Baltimores Credit Union Member of Shared Branching Network Member of Co-Op Surcharge-Free ATM Network Offer free online banking and billpayer
MECU: Baltimores Credit Union Field of Membership: Anyone who lives, works, worships or attends school in Baltimore City and their family members. Select Employee Groups: Any business within 5 miles of a MECU branch
MECU and Its Commitment to our Community MECU is Baltimore s Credit Union and has a strong commitment to serving the community Members Neighborhoods Youth Underserved
Working with our Partners at their Place of Business The Need: Financial problems can be among the leading causes of employee distraction and absenteeism The Team: MECU, local employers
The Process A major part of MECU s plan for growth is to increase SEGs After initial contact, meet potential SEGs at their place of business Explain MECU benefits to the employer Employer signs proclamation
Next Steps Set initial meeting with employees to provide information about MECU and CU benefits Explain tools that MECU members have access to Schedule regular visits with SEGs for financial education and to enroll new employees
2012 Offsites Reaching out to our current members Off sites conducted by MECU reps 466 Off sites conducted by PFP 280 Nation-wide information sessions for Laureate by Polycom 2
2012 Offsite Results New SEGs 54 New Potential Members 6265 Saving Accounts opened through off sites 1258 Checking Accounts opened through off sites 644 Program reproducible for SEG-based CUs
MECUs SEG Base In all, MECU has over 500 SEGs in our data base. Baltimore City government & Agencies Baltimore City School System Bon Secours Hospital Mercy Hospital acquired through merger North East Foods Laureate Educational System Car Dealerships
Other programs to serve members at non-branch locations Providing financial literacy and product awareness classes for seniors at: senior apartments recreation centers lunch and dinner facilities Open accounts for people without banking services at VITA sites
Meeting with Seniors at Senior Centers and Senior Apartments The Need: Informing seniors about the change in Social Security payments The Team: MECU, Baltimore City Office of Aging, Better Directions
Meeting with Seniors at Senior Centers and Senior Apartments Seniors are among the most vulnerable of our residents Baltimore City s Office of Aging was concerned about seniors knowing about, and making appropriate decisions about, the change in Social Security payments As a CDCU, MECU was working with Better Directions on programs to help seniors
Meeting with Seniors at Senior Centers and Senior Apartments Better Direction Program Received grant to cover costs but used MECU funds 63 Presentations through out Baltimore City 43 New Accounts 28 existing accounts that now have direct deposit. Program developed for specific need but is easily implemented in other settings.
Helping the Unbanked Open Accounts at VITA Sites The Need: People without bank accounts often pay high fees and high interest rates to commercial preparers The Team: Baltimore CASH, MECU, Baltimore VITA Sites
Helping the Unbanked Open Accounts at VITA Sites Baltimore CASH promoted use of VITA sites to people of modest means Looked for partners to encourage savings during the 2007-08 tax season MECU only financial institution still participating Trained VITA Site managers to open MECU accounts
Helping the Unbanked Open Accounts at VITA Sites New members had option to deposit refund into savings or Auto-Build CD Opened accounts for several hundred people without a PFI Most keep accounts open and have refunds deposited each year. Program can easily be replicated.
