Tuesday, April 26, 2016

Har-Co CU Once Again Seeks Bank Charter

The American Banker is reporting that Har-Co Credit Union (Bel Air, MD) is seeking approval from state and federal regulators to convert to a state-chartered mutual savings bank, according to legal documents.

If approved, the institution would change its name to Har-Co Community Bank.

This is the second attempt by Har-Co to switch to a mutual savings bank charter. The credit union previously attempted to convert to a bank in 2011. Har-Co members had approved the conversion; but it was never completed.

Read the American Banker story (subscription required).

Read the Notice of Consideration to Convert.

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