Maryland Minority-Owned Credit Unions

CAPITAL AREA TAIWANESEBOYDSMDAsian American
KOREAN CATHOLICOLNEYMDAsian American
SECURITYPLUSBALTIMOREMDAfrican American
TRANSIT EMPLOYEESGREENBELTMDAfrican American
ANDREWS FEDERAL CREDIT UNIONSUITLANDMDAfrican American
WOR COPOCOMOKE CITYMDAfrican American
THE MOUNT LEBANONBALTIMOREMDAfrican American
NONE SUFFER LACKSUITLANDMDAfrican American
MUNICIPAL EMPL.CREDIT UNION OF BALTBALTIMOREMDAfrican American
PRINCE GEORGE’S COMMUNITYBOWIEMDAfrican American, Hispanic

Credit options for minority communities

A credit union is a member-owned, non-profit financial institution where members can deposit money, take out loans, and open a new credit card. Twenty-eighteen has been the fastest growing year for credit unions since 1986, in part because of the value they can offer niche community groups and minorities.

Credit unions have the ability to cater to the specific needs of their communities, specifically low-income earners and minority groups. According to the National Credit Union Association, “minority-owned and managed credit unions play a critical role in providing financial services to communities that have been traditionally underserved or unbanked.”  

By using a minority credit union, one can support a local business while getting services that address specific pain points that affect a certain audience or community.  

Another banking option, minority depository institutions (MDIs) are often small community banks associated with an ethnic minority group. These institutions usually provide services to specifically benefit the minority community in which they serve.  

For more information and a full list of USA minority-owned credit unions, click here.

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