Credit unions in Maryland

Credit union: There are 83 credit unions that are headquartered in the state of Maryland. These credit unions operate over 300 branch locations for their members. These cooperatives can claim 1.9 million members. Close to 1/3 of the state’s residents belong to a credit union. The largest credit union in the state is SECU MD, with over 257,000 members. They have been in operation since 1951. Membership is primarily for state employees, but there are countless ways someone can qualify and join. Their website includes a list of schools, employers, and clubs that will qualify you for membership in the cooperative.

There are membership requirements to join a member cooperative. Many of these cooperatives are for people who work in particular professions, like teachers. There are multiple credit unions that are just for employees of certain companies. However, there are several that are community-based credit unions. Parts of Maryland are isolated, and these cooperatives help bring services to those remote areas. 

Car insurance: Car insurance in Maryland is decently affordable. Premiums are 13% below the national average. Prices do increase for Maryland residents of the DC suburbs. Even if those premium increases don’t affect you, that doesn’t mean you shouldn’t be on the lookout for the best prices for car insurance. Check with your credit union to see what deals they have for their members. 

Very few, if any, credit unions underwrite their own insurance policies. But most of them do offer partnerships with other companies to get discounted rates for their members. Almost all who offer this service partner with TruStage for their services. SECU also works with Nationwide to get their members the best available rates. 

Car insurance is not an option in Maryland. But as was already mentioned, it is affordable. The state requires that drivers have sizable coverage amounts in bodily injury, property damage, and uninsured driver coverage.