Work-in-progress version of SherPa. Work-in-progress version of SherPa.
Maryland
Last updated on 2021-06-24
General
not credit union specific
- Officer Loan Status
- Allowed
- Officer Loan Comment
- Board must reasonably expect the loan to benefit the corporation. Broad.
- Officer Loan Statute
- Md. CORP. Code § 2-416
Credit Union Information
- Split Dollar Process
- Allowed
- Split Dollar Comment
- Does not view split dollar loan as a loan.
- Parity Process
- Allowed
- Parity Comment
- Per 6/24/21 call with Teresa Louro, no pre-approval process and safety and soundness are addressed in exam.
- Parity Statute
- —
- Alternative To Parity Request
- Fed. investments, with approval
- CDA Status
- Maybe
- CDA Comment
- Probably okay under parity (§828) but would need a detailed request
- Director Compensation Status
- Compensation allowable for "officials". According to Jim's notes, some compensation is common, including life insurance.
- Credit Union Regulator
State Chartered Credit Unions
7 credit unions chartered in Maryland
| Name | Charter Number | CEO | Total Assets | Net Worth | CA SD | Concentration |
|---|---|---|---|---|---|---|
| STATE EMPLOYEES CU OF MARYLAND, INC | 66330 | David Sweiderk | $4,908,707,726 | $432,622,876 | $0 | 0% |
| DESTINATIONS CREDIT UNION | 66333 | Brian Vittek | $68,976,261 | $8,787,859 | $0 | 0% |
| CENTRAL CREDIT UNION OF MARYLAND,IN | 66340 | Lisa Jester | $47,676,594 | $4,308,439 | $0 | 0% |
| POINT BREEZE | 66585 | Tonia Niedzialkowski | $966,621,564 | $121,317,769 | $7,082,434 | 5.84% |
| MUNICIPAL EMPL.CREDIT UNION OF BALT | 66787 | John Hamilton | $1,372,018,540 | $149,049,801 | $725,306 | 0.49% |
| HAR-CO | 68639 | Gilbert Kennedy III | $248,120,346 | $18,681,588 | $0 | 0% |
| POST OFFICE CU OF MD, INC. | 95742 | Joseph Amellio | $33,468,934 | $8,095,685 | $0 | 0% |