Dec, 31, 2023 — HAR-CO CREDIT UNION is a federally insured state chartered credit union headquartered in BEL AIR, MD with 3 branch locations and about $247.75 million in total assets. Opened 69 years ago in 1955, HAR-CO CREDIT UNION has about 13,713 members and employs 62 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | HAR-CO CREDIT UNION |
|---|---|
| Address: (Main Office) | 30 N Hickory Ave BEL AIR, MD 21014-3249 |
| Phone: | (410) 838-9090 |
| Fax: | (410) 803-2449 |
| Website: | https://www.harcocu.org |
| Branches: | 3 branch locations |
| Members: | 13,713 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68639 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1955 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $247,753,957 |
| CEO/Manager: | Gilbert F Kennedy III |
| Chairperson: | Blaise Sedney |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 14,697,880 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 129,180,735 |
| Unsecured Loans | 9,762,814 |
| Other Loans | 33,532,618 |
| TOTAL LOANS | 172,476,167 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,120,306 |
| Land And Building | 2,225,185 |
| Other Fixed Assets | 650,236 |
| NCUSIF Deposit | 2,123,142 |
| All Other Assets | 0 |
| TOTAL ASSETS | 247,753,957 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 3,100,774 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 50,141,575 |
| Regular shares | 107,131,132 |
| All Other Shares & Deposits | 64,955,964 |
| TOTAL SHARES & DEPOSITS | 222,228,671 |
| TOTAL LIABILITIES | 225,346,845 |
| Regular Reserve | 0 |
| Other Reserves | 7,362,883 |
| Undivided Earnings | 15,044,229 |
| TOTAL EQUITY | 22,407,112 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 247,753,957 |
| INCOME & EXPENSE | |
| Loan Income | 8,715,171 |
| Investment Income | 1,783,766 |
| Other Income | 1,282,025 |
| Total Employee Compensation & Benefits | 4,653,912 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 3,679,842 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 674,170 |
| Cost of Funds | 770,299 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,219,916 |
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