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MECU: Overall Credit Union Rating
| Feature | Insider rating (out of 5) |
| Savings | 4.75 |
| Checking | 4.25 |
| Share certificate | 4.25 |
| Money market account | 4.25 |
| Trustworthiness | 5 |
| Total | 4.5 |
MECU: Pros and Cons
| Pros | Cons |
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Municipal Employees Credit Union of Baltimore RealSaver Account - Product Name Only
The
- Link the account to your
Municipal Employees Credit Union of Baltimore RewardChecking Account or CashBack Checking account - Make 12 debit card transactions
- Receive at least one direct deposit
- Enroll in e-statements
To become a member of MECU, you'll need to open a Share Savings Account. But the RealSaver account offers better perks, so you may decide to make it your main savings account.
Municipal Employees Credit Union of Baltimore RewardChecking Account - Product Name Only
The
MECU also has CashBack Checking and Basic Checking accounts.
Municipal Employees Credit Union of Baltimore Regular Share Certificate - Product Name Only
The
MECU has other types of certificates, such as one that increases your rate should MECU's rates go up in the future. But the
Municipal Employees Credit Union of Baltimore Money Market Account - Product Name Only
Money market accounts are similar to savings accounts, but they usually give you a way to access your cash. The
How MECU Works
Municipal Employees Credit Union of Baltimore is a minority-led credit union in Maryland. There are branches in Baltimore, Catonsville, Dundalk, Pikesville, and Randallstown.
MECU is part of the CO-OP shared branch network, so there are 5,000 shared branches around the US. You can't open an account at a shared branch, but you can visit to receive assistance. There are also 30,000 free ATMs in the CO-OP network.
The MECU mobile app has 4.8 out of 5 stars in the Apple store, and 4.6 out of 5 stars in the Google Play store.
To speak with customer support, call Monday, Tuesday, Wednesday, Friday from 8:30 a.m. to 7 p.m. ET; Thursday from 9 a.m. to 7 p.m. ET; or Saturday from 9 a.m. to 1 p.m. ET.
Your deposits are federally insured by the NCUA for up to $250,000, or $500,000 for joint accounts.
How to Join MECU
Municipal Employees Credit Union of Baltimore is a credit union, not a bank, so only certain people can join. You're eligible for membership if you meet one of the following criteria:
- Live, work, study, or worship in Baltimore
- Work for one of 300 partner companies (Call MECU to ask whether your employer is on this list)
- Have a family member who is eligible for membership
You'll also need to open a Share Savings Account to join.
The Role of Black-led Financial Institutions
There is a history of racial prejudice in banking and lending that has significantly impacted Black Americans and contributed to a racial wealth gap in the US. Black-led financial institutions serve an integral role in providing services and products to Black communities.
In a partnership with Arts Every Day, Municipal Employees Credit Union of Baltimore has provided over $200,000 in funding for arts and music education in Baltimore City Public Schools. The credit union also has a college scholarship program for high school students pursuing higher education. Since 2007, it has given over $110,000 in scholarships to higher school seniors.
Is MECU Trustworthy?
Municipal Employees Credit Union of Baltimore doesn't have any public controversies.
The Better Business Bureau gives MECU an A+ rating. A strong BBB grade indicates a company responds effectively to customer complaints, advertises honestly, and is transparent about business practices.
A good BBB score doesn't guarantee you'll have a smooth relationship with MECU, though. You may still want to read online customer reviews or ask friends and family about their experiences with the credit union.
MECU vs. Securityplus Federal Credit Union
Your decision between the two credit union could depend on whether you qualify to become a member at either institution. You may join Securityplus Federal Credit Union if you or a family member live, work, study, or worship in Baltimore; work for or are retired from the Social Security Administration (SSA) or Centers for Medicare & Medicaid Services (CMS); or work for one of Securityplus' select employee groups (call to ask whether your employer is on this list).
Both credit unions offer high-yield checking accounts, so it could be a toss-up between the two institutions. However, if you would like to open a savings account or CD, Municipal Employees Credit Union of Baltimore pays higher rates than Securityplus accounts.
MECU vs. The Harbor Bank of Maryland
The Harbor Bank of Maryland is a bank, not a credit union. If you don't qualify to join Municipal Employees Credit Union of Baltimore, The Harbor Bank of Maryland is the clear choice between the two.
But MECU pays higher interest rates on savings, checking, and certificates.
MECU: Frequently Asked Questions
How much money can you withdraw at a MECU ATM?
You may withdraw up to $500 from a MECU ATM per day.
Where is MECU located?
Municipal Employees Credit Union of Baltimore has branches in Baltimore, Catonsville, Dundalk, Pikesville, and Randallstown