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KV Members Opposed to CU Conversion, Merger Getting Organized

AUGUSTA, Maine -- Roughly ten members of the $51 million KV Federal Credit Union gathered at a members' home to discuss their dissatisfaction with a proposed plan to convert KV to a mutual bank charter and merge with a local bank.

By David Morrison | Updated on December 15, 2008

AUGUSTA, Maine — Roughly ten members of the $51 million KV Federal Credit Union gathered at a members’ home to discuss their dissatisfaction with a proposed plan to convert KV to a mutual bank charter and merge with a local bank.

According to an account in the local press, a member of KV who also has funds on deposit at the bank with which the CU could merge, Kennebec Savings Bank, stressed that she did not have anything against the bank but believed her community is best served by having both a bank and credit union.

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