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A-1. 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: Baltimore’s Credit Union. Founded in 1936 during the Great Depression. MECU: Baltimore’s Credit Union.

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  1. A-1

  2. 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

  3. MECU: Baltimore’s Credit Union • Founded in 1936 during the Great Depression

  4. MECU: Baltimore’s Credit Union • Started with 15 members depositing $10 each • Now $1.2 billion in assets, over100,000 members

  5. Commerce Centre Fayette remote branch Hamilton Lochridge Fallstaff Westview Dundalk Redwood PJM MECU: Baltimore’s Credit Union Members served through 9 branches

  6. MECU: Baltimore’s Credit Union • Member of Shared Branching Network • Member of Co-Op Surcharge-Free ATM Network • Offer free online banking and billpayer

  7. MECU: Baltimore’s 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

  8. 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

  9. 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

  10. 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”

  11. 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

  12. 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

  13. 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

  14. MECU’s 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

  15. 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

  16. 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

  17. 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

  18. 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.

  19. Lakeview Towers H.A.B.C.

  20. 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

  21. 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

  22. 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.

  23. Questions?

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