The $1.2 billion Municipal Employees Credit Union of Baltimore said Friday it has completed a merger with the $2.6 million Mercy Health Services Employees Federal Credit Union.
The accounts of 1,017 members of the financially struggling Mercy Health Services Employees FCU in Baltimore have been converted to MECU accounts. NCUA financial reports show year-over-year loan income dropped from $125,929 in 2008 to $96,252 in 2011 at Mercy Health Services Employees FCU. In the same time period, the credit union's investment income fell from $15,389 to $5,694 in 2011.
MECU also announced it recently held a grand opening for a second student-run branch at Reginald F. Lewis High School for Business and Law in Baltimore.
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