Baltimore Credit Union Buys Bank

Municipal Employees Credit Union (MECU) of Baltimore was approved to buy Advance Bank, worth $54 million.

'Advance Bank, a federally-chartered mutual savings bank located in Baltimore, Maryland, has two branches and total assets of approximately $54 million.

Credit Union Times is reporting that more than two-thirds of Advance’s customers either live or work in the city of Baltimore, making them automatically eligible for MECU membership. The credit union plans to pay the $5 membership fee for Advance members to become MECU members.'

Read more in the article from Credit Union Watch.