MECU of Baltimore receives $2 million grant
The Municipal Employees Credit Union of Baltimore received a $2 million U.S. Treasury Department grant to increase lending and investment in low-income areas. The award, from Treasury’s Community Development Financial Institutions Fund, will assist MECU’s efforts to improve financial stability and finance education in Baltimore. MECU was one of 22 credit unions to receive the award. Specifically, MECU plans to use the award to reach out to people who do not have bank accounts, to promote asset building and to increase funding for risk-based lending.