With all the ballots cast, the members of the $54 million KV Federal Credit Union await the count to see if they have decided to end their credit union's independent existence.
If a majority of voting members supported the idea, and if regulators agree, the Augusta Maine, based credit union will convert to a bank charter and immediately merge with Kennebec Savings Bank, a local mutual bank.
According to press reports, neither members who support the charter change nor those who oppose it felt confident to predict the outcome. The contest remained quiet during much of the time leading up the vote, but then got more heated in the last 30 days when members actually had ballots and began voting. Counting the ballots to announce a result could take 10 days, local media reported.
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