Municipal Employees Credit Union Of Baltimore Inc

Organization Overview

Municipal Employees Credit Union Of Baltimore Inc, operating under the name Mecu Of Baltimore Inc, is located in Baltimore, MD. The organization was established in 1998. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Mecu Of Baltimore Inc employed 277 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mecu Of Baltimore Inc is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.

For the year ending 12/2021, Mecu Of Baltimore Inc generated $60.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $54.6m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.4%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Since 2014, Mecu Of Baltimore Inc has awarded 52 individual grants totaling $1,131,891. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

MECU IS A CREDIT UNION WHICH PROVIDES A FULL ARRAY OF FINANCIAL SERVICES TO ITS MEMBER OWNERS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

MECU PROVIDES CONSUMER AND BUSINESS LOANS TO MEMBERS AT COMPETITIVE RATES. THESE LOANS INCLUDE: MORTGAGE, HOME EQUITY, VEHICLE, CREDIT CARD, AND UNSECURED LOANS.


MECU PROVIDES DEPOSIT PRODUCTS AND SERVICES TO CONSUMER AND BUSINESS MEMBERS. THESE DEPOSIT PRODUCTS INCLUDE SAVINGS, CHECKING, MONEY MARKET, CERTIFICATES OF DEPOSIT, AND INDIVIDUAL RETIREMENT ACCOUNTS. AS OF DECEMBER 31, 2021, MECU HAD 193,976 DEPOSIT ACCOUNTS OUTSTANDING. MECU'S DEPOSIT RATES CONTINUE TO BE SOME OF THE MOST COMPETITIVE RATES OFFERED BY FEDERALLY INSURED FINANCIAL INSTITUTIONS.


MECU STRIVES TO OFFER PRODUCTS AND SERVICES DESIGNED TO IMPROVE THE ECONOMIC AND SOCIAL WELL BEING OF ALL MEMBERS FROM ALL SOCIO-ECONOMIC BACKGROUNDS. MECU IS COMMITTED TO MEMBER FINANCIAL EDUCATION. SOME OF THE PROGRAMS THAT MECU PROVIDES INCLUDE DISCOUNTED MORTGAGE RATES THROUGH FIRST-TIME HOMEBUYER'S PROGRAMS AND BUY IN BALTIMORE LOANS, HOME BUYER'S WORKSHOPS, CREDIT REPAIR WORKSHPS, BASICS OF MONEY MANAGEMENT, NEW EMPLOYEE AND PRE-RETIREMENT WORKSHOPS, AND FREE CREDIT COUNSELING SERVICES.


Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Pscu
Card Processor
$3,170,363
Ncr Corporation
Remote Atm Support/monitoring
$2,413,953
One South Street Llc
Lease For 1 South Street
$1,566,104
Fis
Data Processor/bill Payer
$1,020,795
Cornerstone Advisors Inc
Consulting Firm
$768,765
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$54,625,074
Investment income $4,897,980
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $688,029
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $60,211,083

Grants Awarded

Over the last fiscal year, Municipal Employees Credit Union Of Baltimore Inc has awarded $136,500 in support to 6 organizations.

Grant RecipientAmount

ARTS EVERY DAY 20192020

Org PageRecipient Profile

Baltimore, MD

PURPOSE: CHARITABLE CONTRIBUTION

$50,000

Baltimore, MD

PURPOSE: CHARITABLE CONTRIBUTION

$50,000

AACUC CORP CONTRIBUTION

Org PageRecipient Profile

Snellville, GA

PURPOSE: CHARITABLE CONTRIBUTION

$12,955

CYSTIC FIBROSIS FOUNDATION

Org PageRecipient Profile

Bethesda, MD

PURPOSE: CHARITABLE CONTRIBUTION

$11,636

CU FOUNDATION ANNUAL SUPPORT

Org PageRecipient Profile

Columbia, MD

PURPOSE: CHARITABLE CONTRIBUTION

$6,591

COLLEGE BOUND SCHOLARS

Org PageRecipient Profile

Baltimore, MD

PURPOSE: CHARITABLE CONTRIBUTION

$5,318
View Grant Profile

Create an account to unlock the data you need.

or