AUGUSTA, Maine — As anticipated, the board of the $51 million KV Federal Credit Union voted on Oct. 14 to approve a plan to merge with a local mutual bank.
But a local paper reported that the board voted to amend the merger proposal as well and that credit union executives declined to report how the proposal was changed.
The Kennebec Journal quoted KV CEO Beverly Beaucage to the effect that after reviewing all the issues, the board decided to make a few changes. The board of the potential merger partner, Kennebec Savings Bank, will take up the proposal on Oct. 21.
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