AUGUSTA, Maine — Members of the $51 million KV Federal Credit Union estimated that about 100 fellow members attended a meeting the CU called to discuss its proposal to change its charter and merge with a local mutual bank.

Members who attended the more than two hour meeting characterized its tone as civil and professional and said the CU's leadership had been open about taking questions about the merger. One added that KV leaders had also been explicit about the merger not going forward without the CU members' consent.

One member who attended the meeting and spoke with the Times afterward considered many of the attendees skeptical to negative about the merger, with several standing up and saying that if the CU completed the merger they would take their money and leave the institution. But another member said the attitude of the members was more of "fact finding" than necessarily negative.

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.
NOT FOR REPRINT

© 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.