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Nonprofit · EIN 52-0284053

MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE INC

Tax-exempt · BALTIMORE, MD 21202

Financials

$72.1M$69M2023$77.7M$75.4M2024
Revenue Expenses · by fiscal year end
Financials of MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$77,729,986$75,351,461$2,378,525$1,258,553,265$1,130,682,067$127,871,198
December 31, 2023990$72,065,031$69,027,106$3,037,925$1,302,310,518$1,185,908,448$116,402,070
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$1,188,922
of which government grants
$1,188,922
Program service revenue
$68,554,081
Investment income
$7,986,983
Net gain from sales of assets
$78,517
Other revenue
$0

Expenses

Grants and similar amounts paid
$154,815
Compensation of officers, directors and key employees
$2,753,271
Other salaries and wages
$19,259,078
Salaries, compensation and benefits (total)
$28,362,348
Professional fundraising fees
$0
Legal fees
$200,144
Accounting fees
$544,592
Occupancy
$2,695,739
Depreciation
$2,290,169

Balance sheet and other

Total assets, start of year
$1,302,310,518
Total assets, end of year
$1,258,553,265
Total liabilities, end of year
$1,130,682,067
Net assets, end of year
$127,871,198
Land, buildings and equipment
$9,660,539
Publicly traded securities
$302,447,128
Gross unrelated business income
$439,109
Gross receipts
$82,194,220
Employees
393
Volunteers
0
Year formed
1936
State of legal domicile
MD

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
JOHN HAMILTONPRESIDENT AND CEO
Officer
45$870,733$23,055
ADRIAN JOHNSONSVP/CFO
Officer
45$314,450$113,743
KATHY SHELTONSVP AND COO
Key employee
45$265,060$51,961
DENISE JONES-FRASIERCHIEF OF STAFF SVP
Key employee
45$247,965$8,538
MARY JO TAYLORVP CHIEF COMMERCIAL LENDING OFFICER
Key employee
45$221,682$20,485
MICHELLE WILLIAMSSVP HUMAN RESOURCES & ADMIN
Key employee
45$206,328$32,118
MAYNARD HURDVP LENDING
Key employee
45$222,427$7,740
DONTE LEGGETTEVP OF IT SERVICES
Highest-paid employee
45$187,266$41,359
NINA SPENCERVP RETAIL DELIVERY
Highest-paid employee
45$184,590$24,991
JEAN TYLERVP ACCOUNTING/CONTROLLER
Highest-paid employee
45$201,654$6,727
TIMOTHY ROZALSKIVP OF MARKETING
Highest-paid employee
45$200,902$7,016
PATRICIA HANSELVP OPERATIONS
Highest-paid employee
45$168,298$19,734
G LOUISE GREENTREASURER
Trustee or director
2$26,000$0
DEBORAH MOORE-CARTERSECRETARY
Trustee or director
2$23,600$0
ROMAN CLARK SRCHAIRPERSON
Trustee or director
2$22,700$0
6 more people on this return
NameTitleHours / weekCompensation
GARY MCLHINNEYVICE CHAIRPERSON
Trustee or director
2$20,000
BENJAMIN MELI JRBOARD MEMBER
Trustee or director
2$15,654
ERNEST GLINKABOARD MEMBER
Trustee or director
1.5$11,732
NICOLE HARRELLBOARD MEMBER
Trustee or director
1.5$10,800
KARA KING-BESSBOARD MEMBER
Trustee or director
1.5$9,900
LORRETTA JOHNSONBOARD MEMBER
Trustee or director
1.5$6,600
990 for the year ended December 31, 2023: 21 people
NameTitleHours / weekCompensationOther / benefits
JOHN HAMILTONPRESIDENT AND CEO
Officer
45$607,481$25,548
ADRIAN JOHNSONEVP/CFO
Officer
45$316,236$117,734
KATHY SHELTONSVP AND COO
Key employee
45$258,532$54,533
DENISE JONES-FRASIERCHIEF OF STAFF SVP
Key employee
45$249,172$8,462
MARY JO TAYLORSVP CHIEF COMMERCIAL LENDING OFFICER
Key employee
45$217,329$20,256
MICHELLE WILLIAMSSVP HUMAN RESOURCES & ADMIN.
Key employee
45$201,123$33,210
DONTE LEGGETTEVP OF IT SERVICES
Highest-paid employee
45$186,723$33,769
MAYNARD HURDSVP CONSUMER LENDING
Key employee
45$214,932$4,265
NINA SPENCERVP RETAIL DELIVERY
Highest-paid employee
45$182,310$26,428
TIMOTHY ROZALSKIVP OF MARKETING
Highest-paid employee
45$197,911$6,910
JEAN TYLERVP ACCOUNTING/CONTROLLER
Highest-paid employee
45$197,714$6,850
PATRICIA HANSELVP OPERATIONS
Highest-paid employee
45$169,473$21,541
PEGGY PEACOCKBOARD MEMBER
Trustee or director
1.5$27,100$0
G LOUISE GREENTREASURER
Trustee or director
1.5$23,600$0
ROMAN CLARK SRCHAIRPERSON
Trustee or director
2$21,800$0
DEBORAH MOORE-CARTERSECRETARY
Trustee or director
1.5$21,500$0
GARY MCLHINNEYVICE CHAIRPERSON
Trustee or director
1.5$18,800$0
BENJAMIN MELI JRBOARD MEMBER
Trustee or director
2$18,300$0
KARA KING-BESSBOARD MEMBER
Trustee or director
1$13,500$0
ERNEST GLINKABOARD MEMBER
Trustee or director
2$11,100$0
LORRETTA JOHNSONBOARD MEMBER
Trustee or director
1$7,800$0

Address and contacts

Address (IRS master file)
1 SOUTH ST 9TH FL, BALTIMORE, MD 21202-3298
Principal officer (990 for 2024)
JOHN HAMILTON, ONE SOUTH STREET, BALTIMORE, MD 21202
Signed the 990
ADRIAN JOHNSON, EVP/CFO
Phone
(410) 752-8313
Return prepared by
DOEREN MAYHEW

Mission

OUR MISSION IS TO EMPOWER OUR MEMBERS TO IMPROVE THEIR FINANICAL WELL-BEING AND LIVE BETTER.

990 for the year ended December 31, 2024

Program accomplishments

  • MECU PROVIDES CONSUMER AND BUSINESS LOANS TO MEMBERS AT COMPETITIVE RATES. THESE LOANS INCLUDE: MORTGAGE, HOME EQUITY, VEHICLE, CREDIT CARD, AND UNSECURED LOANS.
  • 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.

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
52-0284053
Tax-exempt status
501(c)(14): State-chartered credit union
Donations deductible
No
Exempt since
1998
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$1,258,553,265
Income (IRS master file)
$82,194,220

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$77,729,986$75,351,461$1,258,553,265XML
990December 2023$72,065,031$69,027,106$1,302,310,518XML
990December 2022$62,078,917$57,411,510$1,322,450,560IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS
990December 2017–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 52-0284053).

Questions about MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE INC

What is the EIN of MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE INC?
The employer identification number (EIN) of MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE INC is 52-0284053.
Is MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1998.
Are donations to MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE INC tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE INC file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE INC due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE INC last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE INC?
The 990 for the year ended December 31, 2024 names JOHN HAMILTON.
Who are the officers and directors of MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE INC?
The 990 for the year ended December 31, 2024 lists 21 people; 21 received compensation from the organization, the highest $870,733 (JOHN HAMILTON, PRESIDENT AND CEO).
How much revenue does MUNICIPAL EMPLOYEES CREDIT UNION OF BALTIMORE INC have?
On its 990 for the year ended December 31, 2024 it reported revenue of $77,729,986, expenses of $75,351,461 and total assets of $1,258,553,265 at year end.

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