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Maryland and DC Credit Unions Deliver Substantial Financial Benefits to Members

The latest data from America’s Credit Unions quarterly Member Benefits report reveals the substantial financial impact credit unions have on their members.

Through the third quarter of 2023, Maryland credit unions delivered over $413 million in direct financial benefits to their 2 million members, while in the District, credit unions provided $76 million to their 272 thousand members. These figures underscore the significant contributions credit unions make to the financial stability and prosperity of their members and communities.

In Maryland, these financial benefits equate to approximately $199 per member or $418 per member household, while in the District, this translates to about $280 per member or $588 per member household.

“This savings represents a substantial infusion of financial support directly into the pockets of credit union members through lower loan rates, higher savings rates, or fewer fees. These benefits play a crucial role in improving the financial well-being of individuals and families,” said John Bratsakis, President/CEO, MD|DC Credit Union Association.

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