Comptroller Franchot Cites Credit Unions “Credibility” in Interview on Maryland’s Economic Outlook

Final close-out numbers released by the Comptroller’s Office for the fiscal year that ended June 30 show a 2.4 percent increase in revenues over 2019 with a $585 million general fund surplus.

Franchot Baltimore Chapter MeetingThe Comptroller is urging the state to use the unallocated funding to provide pandemic relief to small businesses. In an interview with Maryland Reporter, Franchot suggested credit unions with their reach and reputation, could provide support.

“I would use the platform of the state’s credit unions. These are not-for-profit financial institutions around the state that have a lot of credibility. They have 2 million members.”

The MD|DC Credit Union Association’s Baltimore Chapter hosted a roundtable with Comptroller Franchot last week attended by nearly 70 credit union leaders.