Municipal Employees Credit Union of Baltimore Inc
501(c)(14)
Only null% goes to programs Strong reserves Growing revenue
Municipal Employees Credit Union of Baltimore Inc is a 501(c)(14) organization based in Baltimore, Maryland, registered in 1998, with $77,729,986 in FY2024 revenue. CharityIndex grades it A.
One South Street 9th Floor, Baltimore, MD, 21202 EIN 52-0284053 Since 1998
Revenue (FY2024)
$77.7M
▲ 7.9% vs prior year
Expenses (FY2024)
$75.4M
Net assets
$127.9M
Employees
393
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for Municipal Employees Credit Union of Baltimore Inc— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
AFinancial health25% of the rating20 mo reserves · +3% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Municipal Employees Credit Union of Baltimore Inc: 20 mo reserves · +3% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Municipal Employees Credit Union of Baltimore Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Municipal Employees Credit Union of Baltimore Inc: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
Mecu is a credit union which provides a full array of financial services to its member owners.
What they do
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, 2024, mecu had aggregate deposit balances that approximated $1,045,819,000. mecu's deposit rates continue to be some of the most competitive rates offered by federally insured financial institutions.
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, homebuyer's workshops, credit repair workshops, basics of money management, new employee /pre-retirement workshops, and free 1-1 coaching/credit counseling services for all members.
Contact & location
Financial trends
Revenue grew from $72.3M (FY2013) to $77.7M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $1.1BNet assets $127.9M
Operating margin
3.1%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$1.3B
Total liabilities
$1.1B
Net assets
$127.9M
Salaries & benefits
$28.4M
38% of expenses
Board members
9
9 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $77,729,986▲7.9% | $75,351,461▲9.2% | $127,871,198▲9.9% | $1,258,553,265▼3.4% | 990 |
| 2023 | $72,065,031▲16.1% | $69,027,106▲20.2% | $116,402,070▲8.4% | $1,302,310,518▼1.5% | 990 |
| 2022 | $62,078,917▲3.1% | $57,411,510▲5.2% | $107,376,802▼22.1% | $1,322,450,560▼2.9% | 990 |
| 2021 | $60,211,083▼1.3% | $54,577,172▼16.6% | $137,826,590▲1.4% | $1,362,108,647▲3.4% | 990 |
| 2020 | $60,981,721▼15.4% | $65,401,843▼4.5% | $135,899,053▼2.7% | $1,316,780,285▲9.9% | 990 |
| 2019 | $72,074,622▲6.9% | $68,478,207▲8.3% | $139,686,751▲13.0% | $1,197,660,345▲1.4% | 990 |
| 2018 | $67,398,664▲0.7% | $63,248,791▲2.5% | $123,659,036▼8.0% | $1,180,671,010▲0.7% | 990 |
| 2017 | $66,927,917▲4.0% | $61,732,000▲3.3% | $134,374,288▲3.0% | $1,172,950,849▲0.7% | 990 |
| 2016 | $64,345,211▲3.2% | $59,773,656▼0.5% | $130,462,762▲3.3% | $1,165,151,476▼1.5% | 990 |
| 2015 | $62,369,777▼10.1% | $60,076,571▼7.8% | $126,243,431▼2.1% | $1,182,373,984▼2.7% | 990 |
| 2014 | $69,383,941▼4.0% | $65,184,463▼1.1% | $128,998,623▲8.2% | $1,214,980,053▼1.1% | 990 |
| 2013 | $72,306,323 | $65,892,039▲2.3% | $119,231,972▼6.5% | $1,228,233,601▲2.7% | 990 |
| 2012 | — | $64,439,191▼2.6% | $127,490,723▲6.7% | $1,195,519,510▲6.3% | 990 |
| 2011 | — | $66,129,815▲4.1% | $119,433,678▲5.7% | $1,124,196,951▲4.0% | 990 |
| 2010 | — | $63,496,175 | $112,984,345 | $1,080,871,991 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: John Hamilton — $870,733 (1.16% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| John Hamilton | President and Ceo | 45 | $870,733 |
| Adrian Johnson | Svp/cfo | 45 | $314,450 |
| Kathy Shelton | Svp and Coo | 45 | $265,060 |
| Denise Jones-frasier | Chief of Staff Svp | 45 | $247,965 |
| Maynard Hurd | Vp Lending | 45 | $222,427 |
| Mary Jo Taylor | Vp Chief Commercial Lending Officer | 45 | $221,682 |
| Michelle Williams | Svp Human Resources & Admin | 45 | $206,328 |
| Jean Tyler | Vp Accounting/controller | 45 | $201,654 |
| Timothy Rozalski | Vp of Marketing | 45 | $200,902 |
| Donte Leggette | Vp of It Services | 45 | $187,266 |
| Nina Spencer | Vp Retail Delivery | 45 | $184,590 |
| Patricia Hansel | Vp Operations | 45 | $168,298 |
| G Louise Green | Treasurer | 2 | $26,000 |
| Deborah Moore-carter | Secretary | 2 | $23,600 |
| Roman Clark Sr | Chairperson | 2 | $22,700 |
| Gary Mclhinney | Vice Chairperson | 2 | $20,000 |
| Benjamin Meli Jr | Board Member | 2 | $15,654 |
| Ernest Glinka | Board Member | 1.5 | $11,732 |
| Nicole Harrell | Board Member | 1.5 | $10,800 |
| Kara King-bess | Board Member | 1.5 | $9,900 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Velerapscu | Card Processor | $2,967,144 |
| Fiserv | Core System | $2,437,203 |
| One South Street LLC | Lease For 1 South Street | $1,724,049 |
| Cardtronics USA Inc | Debit/credit Card Processing | $1,003,452 |
| Ncr Voyix Corporation | Atm Operational Support and Monitoring | $980,166 |
Grants made · $71K in FY2024
6 grants totaling $71K in FY2024. All grants made by Municipal Employees Credit Union of Baltimore Inc →
| Recipient | Purpose | Amount |
|---|---|---|
| Mddc Cu Association | Contribution to the credit union movement. | $20,000 |
| The Credit Union Foundation of Md and Dc Inc | To invest in the advancement of credit unions' work. | $20,000 |
| African American Credit Union Coalition | To unite the credit union movement for dei. | $9,000 |
| Mecu Foundation Inc | To improve the financial education and literacy of the communities we serve. | $8,500 |
| Baltimore Office of Promotion and the Arts | To inspire students and enhance learning in baltimore city schools. | $7,500 |
| Morgan State University Foundation Incorporated | To provide financial support and counsel for morgan state university. | $6,000 |
Frequently asked questions
- Is Municipal Employees Credit Union of Baltimore Inc a legitimate nonprofit?
- Yes. Municipal Employees Credit Union of Baltimore Inc is a 501(c)(14) organization registered with the U.S. Internal Revenue Service under EIN 52-0284053, based in Baltimore, Maryland.
- What is Municipal Employees Credit Union of Baltimore Inc's EIN?
- Municipal Employees Credit Union of Baltimore Inc's Employer Identification Number (EIN) is 52-0284053.
- How much revenue does Municipal Employees Credit Union of Baltimore Inc report?
- Municipal Employees Credit Union of Baltimore Inc reported $77,729,986 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- What financial grade does Municipal Employees Credit Union of Baltimore Inc have?
- CharityIndex grades Municipal Employees Credit Union of Baltimore Inc A, based on financial health (reserves and operating margin).
- How much does Municipal Employees Credit Union of Baltimore Inc's highest-paid employee make?
- The highest reported compensation on Municipal Employees Credit Union of Baltimore Inc's latest Form 990 is $870,733, paid to John Hamilton (President and Ceo).
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Data for Municipal Employees Credit Union of Baltimore Inc (EIN 52-0284053) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.