The $46 million Quimper Community Federal Credit Union in PortTownsend, Wash., has merged into the $903 million Kitsap Credit Union in Bremerton, Wash.

Of the 5,500 Quimper Federal Community CU members, 893 membersvoted on the merger question at a special meeting Friday evening.According to Leah Olson, vice president of marketing forKitsap CU, 832 Quimper Federal Community CU members voted in favorof the merger and 61 members voted against it.

The financial merger of the credit unions is expected to occurNov. 1, which will officially consolidate the financials for bothorganizations, and Quimper Community FCU members will becomemembers of Kitsap CU. The combined assets of the credit unions willtotal $950 million with 90,500 members, 329 employees and 20branches.

“Thank you for voting yes and giving us the best opportunity tomaintain a local, healthy credit union,” said Debbie Greenspane,CEO/president of Quimper Community CU, in an open letter to memberson the credit union's website.

Greenspane has agreed to stay on as a regional manager, Olsonsaid.

Negotiations began earlier this year when Quimper, struggling tokeep up with competition and declining capital, approached Kitsap President/CEO Elliot Gregg about a merger.

Olson said all of Quimper Community's 16 employees have acceptedpositions with Kitsap and Quimper's two branches will remainopen.

“That was one of the major negotiation points with Quimper'sboard. It was very, very important that their employees were takencare of,” said Olson. “And we agreed. We wanted to make sure thatQuimper members would keep working with the same friendly facesthey were used to working with every day. So we wanted to maintainthat local consistency as much as we could. And thankfully, theQuimper employees all accepted a job with us.”

Additionally, one Quimper Community FCU board member willjoin the Kitsap CU board of directors, and one Quimper CommunityFCU supervisory committee member will serve on the Kitsap CUsupervisory committee.

“We are excited to welcome Quimper Community Federal CreditUnion members to Kitsap Credit Union family,” said Gregg in aprepared statement to Quimper members. “Thank you for your trustand confidence in us.”