The $187 million HAR-CO Maryland Federal Credit Union appearspoised to become a mutual bank by April 1.

In a website posting, the suburban Baltimore CU forecast that its“member-approved conversion to a bank charter will be complete bythe end of the first quarter” noting that if it is completed theexisting director slate would be dissolved.

“The board of directors for the new bank entity has already beenappointed for the first year of operation and it would essentiallyhave the same people,” said a newsletter notifying the members ofHAR-CO's annual meeting slated for March 21 at its headquarters inBel Air, Md.

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