Maryland Minority-Owned Credit Unions

CAPITAL AREA TAIWANESE	BOYDS	MD	Asian American
KOREAN CATHOLIC	OLNEY	MD	Asian American
SECURITYPLUS	BALTIMORE	MD	African American
TRANSIT EMPLOYEES	GREENBELT	MD	African American
ANDREWS FEDERAL CREDIT UNION	SUITLAND	MD	African American
WOR CO	POCOMOKE CITY	MD	African American
THE MOUNT LEBANON	BALTIMORE	MD	African American
NONE SUFFER LACK	SUITLAND	MD	African American
MUNICIPAL EMPL.CREDIT UNION OF BALT	BALTIMORE	MD	African American
PRINCE GEORGE’S COMMUNITY	BOWIE	MD	African 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.