Maine CU to Bank Conversion: Members Vote Posted by AVCU on 12:40 PM

In one of the geographically closest to Vermont credit union to bank conversion attempts, it’s been reported that voting by members of Kennebec Valley Federal Credit Union was completed earlier this week. Results haven’t yet been posted but are promised to be known within 10 days of the vote that was held at a meeting on Tuesday. The membership vote culminates a move proposed by the credit union’s board last fall, whereby the credit union would convert to a bank charter, then merge with Kennebec Savings Bank. The Maine Credit Union League has opposed the proposed conversion to a bank charter and subsequent merger.