Article: Credit union rejects bank merger ; Members of KV Federal Credit Union vote against joining Kennebec Savings.


Portland Press Herald (Maine)
10-02-2009
Credit union rejects bank merger ; Members of KV Federal Credit Union vote against joining Kennebec Savings.
Edition: Final
Section: Local & State
Type: News

AUGUSTA --

The members of an Augusta-based credit union have rejected plans to give up their tax-exempt status and merge with a local bank.

Officials with KV Federal Credit Union and Kennebec Savings Bank confirmed Thursday that credit union members voted against the proposal to convert their credit union to a bank and merge with Kennebec Savings.
They started mailing letters to members on Wednesday announcing the outcome.

The credit union's president, Beverly Beaucage, announced her plans ...

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