BREMERTON, Wash. — It was a stunning and puzzling member defeat two years ago, but now after months of well-orchestrated campaigning the $600 million Kitsap Community Federal Credit Union is set to switch to a state charter at month's end enabling geographic expansion.
Approval of the charter conversion deemed by management as vital to take advantage of the state's favorable field of membership climate came in a special membership vote Sept. 28 with final regulatory clearance due Nov. 30.
"Thank you again for participating in the democratic process of credit unions by casting your vote on our charter conversion initiative," wrote Elliot Gregg, president/CEO in the CU's November newsletter in citing the favorable 72% balloting by 11,856 members.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
- Educational webcasts, white papers, and ebooks from industry thought leaders.
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
