Overview
What is Municipal Employees Credit Union Of Baltimore Inc?
Municipal Employees Credit Union of Baltimore Inc, also known as MECU, is a credit union based in Baltimore, Maryland, with a US address at One South Street, 21202. The organization offers a range of financial services to its member-owners, including competitive loans for mortgages, home equity, vehicles, credit cards, and unsecured loans. As a credit union, MECU's mission is to empower its members to improve their financial well-being and live better lives. The institution, with a total of 407 employees, is dedicated to providing a full array of financial services.
Official website here: www.mecu.com
What are the reviews and ratings of this charity?
Municipal Employees Credit Union Of Baltimore Inc is not currently rated by Charity Navigator. This absence of a rating is primarily due to its classification outside the scope of typical non-profit evaluations, as it's not a 501(c)(3) IRS registered nonprofit. The organization may not have sufficient data in aspects like Accountability & Finance or Impact & Measurement, which limits its eligibility for a comprehensive evaluation by Charity Navigator.
The lack of a rating should not be viewed as inherently positive or negative; it simply reflects the limitations in available data. Historically, evaluations would closely align with today’s standards for Accountability and Finance, though data for Total Revenue and Expenses and key personnel salaries are not available. This also means potential donors and members might have limited formal insight into the organization's financial strategies or outcomes.
Being an independent entity, the credit union operates separately from auxiliary organizations. As a non-501(c)(3), the assessment categories such as Leadership & Adaptability, Culture & Community, and direct Impact & Measurement remain unevaluated. Perspectives on its impact are thus derived primarily from personal experiences rather than broad evaluative metrics. No user reviews from GreatNonprofits are available to further enrich understanding of the credit union's community role.
This AI summary has been generated from information found on Charity Navigator.
Is Municipal Employees Credit Union Of Baltimore Inc legitimate?
Municipal Employees Credit Union Of Baltimore Inc is a legitimate nonprofit organization registered as a 501(c)(14) entity. Municipal Employees Credit Union Of Baltimore Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $1,616,937
Professional Fundraising Fees: $0
Other Salaries and Wages: $18,419,130
For more financial information, click here
Official website here: www.mecu.com
What is the mission statement of Municipal Employees Credit Union Of Baltimore Inc?
Municipal Employees Credit Union of Baltimore (MECU) is committed to enhancing the financial well-being of its members. Their mission is geared towards empowering members to live better lives. MECU offers a wide range of financial services, including consumer and business loans with competitive rates. Among the loans they provide are mortgages, home equity, vehicle, credit card, and unsecured loans. By offering these financial products, MECU aims to help its members improve their overall financial situation.
Official website here: www.mecu.com
Who is the CEO of Municipal Employees Credit Union Of Baltimore Inc?
John Hamilton is the President And Ceo of Municipal Employees Credit Union Of Baltimore Inc. The CEO's salary of Municipal Employees Credit Union Of Baltimore Inc is $943,018 and their total compensation is $987,816.
Official website here: www.mecu.com
What is the revenue of Municipal Employees Credit Union Of Baltimore Inc?
Municipal Employees Credit Union Of Baltimore Inc's revenue in 2022 was $62,078,917.
Official website here: www.mecu.com
Who are the executives of Municipal Employees Credit Union Of Baltimore Inc and what are their salaries?
The average compensation at Municipal Employees Credit Union Of Baltimore Inc during 2022 was $49,229. There are 407 employees at Municipal Employees Credit Union Of Baltimore Inc.
Here are 19 key members and their salaries (Municipal Employees Credit Union Of Baltimore Inc's CEO's salary is $943,018 and their total compensation is $987,816):
- Compensation: $17,300
- Related: $0
- Other: $0
- Compensation: $18,000
- Related: $0
- Other: $0
- Compensation: $10,200
- Related: $0
- Other: $0
- Compensation: $22,100
- Related: $0
- Other: $0
- Compensation: $18,800
- Related: $0
- Other: $0
- Compensation: $21,500
- Related: $0
- Other: $0
- Compensation: $8,700
- Related: $0
- Other: $0
- Compensation: $8,400
- Related: $0
- Other: $0
- Compensation: $10,200
- Related: $0
- Other: $0
- Compensation: $270,080
- Related: $0
- Other: $23,671
- Compensation: $943,018
- Related: $0
- Other: $44,798
- Compensation: $172,289
- Related: $0
- Other: $32,744
- Compensation: $227,121
- Related: $0
- Other: $35,331
- Compensation: $190,740
- Related: $0
- Other: $28,781
- Compensation: $163,137
- Related: $0
- Other: $31,121
- Compensation: $158,250
- Related: $0
- Other: $25,660
- Compensation: $177,902
- Related: $0
- Other: $24,430
- Compensation: $534,038
- Related: $0
- Other: $34,722
- Compensation: $191,743
- Related: $0
- Other: $26,753
Official website here: www.mecu.com
Where can I find the form 990 for Municipal Employees Credit Union Of Baltimore Inc?
Municipal Employees Credit Union Of Baltimore Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mecu.com
Learn more at the official website: www.mecu.com
Mission Statement of Municipal Employees Credit Union Of Baltimore Inc
Municipal Employees Credit Union of Baltimore, or MECU, is a credit union dedicated to empowering its member-owners towards financial improvement and a better quality of life. MECU's mission is geared towards providing a comprehensive range of financial services that cater to the diverse needs of its members.
In pursuit of its mission, MECU offers various loan products at competitive rates. These loans encompass mortgages, home equity, automobile, credit card, and unsecured loans. By offering these services, MECU helps its members secure their financial future, whether it be through purchasing a home, making essential vehicle repairs, or consolidating debt.
MECU's commitment to its members extends beyond just financial services. The credit union is driven by the belief that a solid financial foundation is crucial for overall well-being. In this vein, MECU is devoted to making the process of accessing these services as simple and accessible as possible for its members. By providing affordable loan options, MECU strives to help its members take control of their financial situation and achieve their financial goals.
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Impact
October, 2024
Municipal Employees Credit Union of Baltimore Inc (MECU) plays a significant role in the community by providing a comprehensive range of financial services aimed at improving the financial well-being of its member-owners. By offering competitive rates on consumer and business loans, including mortgages, home equity loans, vehicle loans, credit cards, and unsecured loans, MECU enables its members to access the funds necessary for various life milestones and endeavors.
In Baltimore, MECU's commitment to empowering its members fosters economic growth as individuals are better equipped to make significant purchases, start or expand businesses, and manage their financial health. The credit union's focus on public benefit aligns with its mission to help members achieve their financial goals, ultimately enhancing the quality of life within the community. MECU's presence not only promotes responsible lending practices but also encourages financial literacy and stability among its members, contributing to the overall economic vitality of the region.
This information is meant to be a general summary of Municipal Employees Credit Union Of Baltimore Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $5,665,831
- Program Service Revenue: $54,561,571
- Gross Receipts: $92,938,061
Assets and Liabilities:
- Total Assets: $1,322,450,560
- Total Liabilities: $1,215,073,758
- Net Assets: $107,376,802
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST ON LOANS TO MEMBERS
Revenue
$33,743,400
SERVICE CHARGES AND OTHER FEES
Revenue
$18,085,688
OTHER NONINTEREST INCOME
Revenue
$2,319,912
FINANCE AND INSURANCE
Revenue
$412,571
Organization Details
Founding Year
1936
Phone
(410) 752-8313Principal Officer
John Hamilton
Main Address
ONE SOUTH STREET, BALTIMORE, MD, 21202
Website
www.mecu.comNTEE Category
Code: W60 - Public benefit
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