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News Now

CU System
CU merging with bank meets with members
AUGUSTA, Maine (10/3/08)--Kennebec Valley (KV) FCU held town meetings this week to inform members about a proposal to merge with a local savings bank. The town meetings were Tuesday in Augusta, Maine, and Wednesday in Oakland, Maine, according to media reports. KV FCU is based in Augusta. KV FCU and Kennebec Bank announced in September that they were discussing the credit union converting to a federal mutual savings bank charter and then merging with the bank (News Now Sept. 10). The credit union said the proposed conversion and merger would expand its ability to meet the current and future needs of members (News Now Sept. 10). News Now was unable to reach KV FCU for comment by press time. KV FCU has $51 million in assets.


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