BREMERTON, Wash. — Two years ago management of the $600 million Kitsap Community Credit Union was both stunned and puzzled by members rejecting a long-sought bid to convert to a state charter so the CU could expand in several neighboring counties.
This month staffers led by Kitsap President/CEO Elliot Gregg are cheering their own work in passing by an overwhelming margin the same failed proposal of 2005 to switch to the more favorable state charter.
Final regulatory clearance is to be finalized Nov. 30 but the member turnabout is being hailed as an example of the "democratic process at work in the credit union industry" and the importance of ongoing and direct communication with members.
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