Members Of 1 Schools CU May Get A Hard Lesson

Diekmann, Frank J.
March 2011
Credit Union Journal;3/14/2011, Vol. 15 Issue 11, p6
Trade Publication
In this article, the author reflects on the move of Har-Co Maryland Federal Credit Union in dumping its credit union charter in favor of converting to a bank. He is critical on the statement released by Har-Co on its conversion which states that they need to raise additional capital by changing from the mutual to the stock form and selling the stock to members and the public. The author also investigated the role of board members concerning the move of Har-Co, as well as their tax liabilities.


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