Monday, October 10, 2011

HAR-CO Members Vote to Become A Mutual Savings Bank

The membership of HAR-CO Federal Credit Union has approved the Board’s proposal to convert from a federal credit union charter to a federal mutual savings bank charter.

Over 58 percent of voting members casted ballots in favor of the proposal.

HAR-CO reported that over 5,000 of its members voted on the proposal.

HAR-CO will continue to operate as a credit union until it receives final regulatory approvals. It expects the closing of the charter conversion transaction will take several months to complete.

Read the announcement.
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