Press Release



March 26, 2020: A Message from Gil Kennedy, President and CEO of HAR-CO Credit Union – Providing Practical Financial Solutions

Dear HAR-CO Members,

HAR-CO understands that the extraordinary environment in which we are living may be a source of additional stress. HAR-CO would like to do what it can to reduce your anxiety by providing practical financial solutions.

If you are experiencing financial difficulty due to the current medical crisis with COVID-19, or for any other reason, we want to try to help you get through these trying times. Please reach out to us so that we may try to be of assistance.

Possible assistance may come in several forms, including:

  1. A payment moratorium for a period of time to be determined;
  2. Reduced loan payments for a period of time to be determined
  3. Access to capital in the form of low-rate installment loans, Home Equity Lines of Credit or Visa credit cards (via a new HAR-CO Visa credit card or an increase in the limit on an existing HAR-CO Visa credit card).

In order for HAR-CO to provide the best possible solutions, tailored to your unique circumstances, we will need you to provide us with some basic current information.

Specifically, HAR-CO will require the following:

  1. A hardship letter from you explaining specifically how you or your household have been impacted (EG: furloughed, laid off, salary/hours reduced, loss of spousal/domestic partner/household income, etc.).  If hours/salary reduced, to what amount?  The letter should state what your preferred solution is. It should also state whether it is important to you to maintain your loan’s current maturity date (for installment loans/mortgages), or if you are fine with having that maturity date extended. Note that if maturity dates are not extended, in most instances, the monthly payment amounts due following the modification period will likely be higher than they were pre-modification. You should be aware even if installment payments are deferred or reduced, interest will continue to accrue.
  2. A copy of your last 2 paystubs, even if you have been furloughed or laid off.  (If there is a co-signer on your loan, a copy of their last 2 paystubs as well.)
  3. A copy of your last tax return, signed and with all schedules included is helpful (it is required if you are self-employed).
  4. A completed and signed current personal financial statement, which will be provided to you for you to complete and can be found at

Initial deferments/payment reductions will probably be for up to three (3) months with one three (3)-month extension option. In order to exercise the additional three (3)-month extension option, you will need to contact HAR-CO, two (2) weeks prior to the expiration of the first three (3)-month modification period and provide an update regarding your/your household’s employment/income status (whichever income was initially negatively impacted).

We further request that once you have found new employment or your hours have been restored, please provide updated copies of your paystubs.

The required Personal financial statement can be found on HAR-CO’s website (, along with other important information pertinent to these trying times.

The information we are asking you to provide can be submitted to HAR-CO, attention Loss Mitigation, by several means, including:

  • Dropping the information off at any of HAR-CO’s branch locations. If the Branch is closed, the Night-drop located at each branch may be used. The drive-through facilities may also be used during operating hours.
  • Information may also be faxed to 410-823-1232
  • Please do not e-mail private information directly to HAR-CO; however, if you wish to communicate with a HAR-CO associate in regard to this matter, you can call HAR-CO’s call center at 410-8389090 or send an e-mail to

HAR-CO greatly appreciates your membership and we look forward to working together to successfully overcoming our community’s current challenges.

Best Regards,

Gilbert F. Kennedy, III


March 19, 2020: A Message from Gil Kennedy, President and CEO of HAR-CO Credit Union – Stay Healthy, Safe, and Calm

We all are experiencing unprecedented times. Closing our Lobbies and directing our Members to our Drive-Through, our Mobile and Internet Platforms, and our Call Center, I know can be a disruption. This decision was made solely out of protecting our Members and Associates against contracting this Virus-Covid19. I personally want you to know that Har-co is here to consult, advise, and support you in any way possible during this period.

As I mentioned in my previous communication, I want to sincerely reiterate that if you, our Member encounters any hardship resulting from issues around the Virus, or the implications around the necessary efforts by officials to slow the transmission of it, please reach out to us. Every Har-co Associate, including my Leadership Team, and me stand ready to assist. We are here to serve you, our Member.

I want you also to know that we are doing our very best to stay vigilant on a great deal of matters. We want you to stay vigilant as well around cyber-criminal activity to exploit and benefit from this Virus Situation. Phishing and other methods, which are designed to trick us into divulging sensitive information, are methods to take advantage of these anxious times. Please also consider vigilance when using any Automatic Teller Machines (ATM’s). Prudence tells us to cover the PIN pad when entering your pin and to take your receipt. As added precaution, it is also a good idea to leave your car locked before approaching an ATM. Once you have received your cash and receipt, go to your car and immediately leave the location. Vigilance is required in these times of distraction and anxiousness.

Finally, I want to reinforce that our closure is only temporary. Once risk level subsides, we will quickly bring back Lobby Service. The Har-co Organization is strong financially, and has sufficient Liquidity. We have survived many cycles over our 65 years. We have strong Leadership, which have guided organizations through many cycles. I will continue to communicate with you, as needed, to uphold the valued trust that you have placed in us. Stay healthy, safe, and calm.

Best Regards,

Gilbert F. Kennedy, III


March 18, 2020: A Message from Gil Kennedy, President and CEO of HAR-CO Credit Union Regarding Branch Lobby Closings

In adhering to Federal and State mandates and guidance on social distancing to reduce the spread on the Coronavirus/COVID-19, HAR-CO Credit Union has decided to temporarily close its lobby service for all three (3) of our locations effective Thursday, March 19, 2020. Our drive thru services will be available Monday – Friday from 9:00am to 5:00pm, and Saturday from 9:00am to 1:00pm at all locations until further notice. Online Banking, Mobile Banking, Mobile Deposit, and Telephone Teller are all available 24/7. You may also use our night-drops and ATMs which are located at all three (3) of our locations and are also available 24/7. Additionally, you may use any ATM that is part of the Moneypass network without terminal fees. Visit for a list of participating locations.

We realize that not all banking activities can be done via a drive thru window or online, you may contact a HAR-CO representative through our Call Center at (410) 838-9090 to make an appointment for your banking needs.

The health and safety of our members and employees is our number one priority. We will continue to monitor and evaluate this situation and attempt to restore lobby services as quickly as possible.

Best Regards,

Gilbert F. Kennedy, III


March 17, 2020: A Message from Gil Kennedy, President and CEO of HAR-CO Credit Union Regarding the Coronavirus

HAR-CO is monitoring developments regarding the coronavirus/COVID-19. To help protect our members and employees, HAR-CO is taking proactive steps to ensure minimal business interruption.

We have implemented extensive cleaning procedures with the use of stronger disinfectant products throughout our branches and ATM’s. Coronavirus/COVID-19 fact sheets have been placed in our branches that outline the steps to follow to help prevent the disease from spreading. Our employees are encouraged to stay home if they are not feeling well.

As an alternative for members not feeling well, you may use our 24/7 online/mobile banking, telephone teller, or contact a HAR-CO Representative through our Call Center at 410-838-9090 for your banking needs. We encourage the HAR-CO community to follow the CDC’s best practices that can be found at

We will continue to closely monitor the situation and evaluate additional measures to support our members, employees and community as needed.

Best Regards,

Gilbert F. Kennedy, III


A Message to all Members from Gil Kennedy, President and CEO of HAR-CO Credit Union

Dear HAR-CO Members,

As you are aware, we are living in extraordinary and uncertain times. Without question, the COVID-19 outbreak is a challenge to all of us, to individuals, businesses, our country and the world; it demands that we find practical solutions to unique problems while being mindful and compassionate toward one another.

I have been in the financial industry for a long time and seen many markets, good and bad. I want to assure you that HAR-CO is very well poised, from a capital and liquidity perspective, to meet the challenges ahead. We are closely monitoring the directives of federal, state and local government while simultaneously working tirelessly to ensure that our Members have uninterrupted access to HAR-CO’s comprehensive suite of products and services.

I have always viewed down-markets as an opportunity to shine, to afford an organization the opportunity to distinguish itself, to provide thoughtful solutions to troubling circumstances. I stand ready today, along with my executive team and all of my associates at HAR-CO, to deliver an exceptional level of service and care to you, our Members.

Hopefully for most Members, that will mean no or minimal disruption to your routine interactions with HAR-CO. For others, however, I know that market or life forces beyond your immediate control will be deeply impactful. If, as a consequence, you find yourself in troubled financial waters, I urge you to please contact us as soon as you are able. We are here, willing and able to work with any financially responsible Member to find workable solutions to address your circumstances.

In my capacity as President and CEO of HAR-CO Credit Union, nothing is more important to me than the financial health of our co-operative and the personal and financial health of its Members and Member-Employees. I believe the challenges we currently face, and the solutions we provide, will prove to be a defining moment of excellence in the proud history of this organization. My associates and I are here to serve you. Please reach out to us if you have any specific needs, suggestions or concerns, or just to say hi!

I am confident of better days ahead. In the interim, be well and be safe.

With kindest regards,

Gilbert F. Kennedy, III

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