Posts Tagged ‘KVFCU’

Let’s not let another angel (in Maine) lose her wings

October 21, 2008

At EverythingCU’s open house last Thursday, we had the pleasure of a visit from Christian Mullins. I got to meet Christian when he attended the inaugural BarCampBank NewEngland. Christian is one of the most well-versed people I know when it comes to credit unions and mergers. He has spent significant time in Mad-town, and now lives just outside of Portland, Maine. By virtue of his knowledge and location, he has a front row seat to the proceedings of KV FCU trying to merge itself into a local bank, Kennebec Savings Bank in Augusta (ME). I haven’t heard much attention so far in the CU blogosphere about this issue, so I recommend that you take a peek at Christian’s latest CU Potential blog post.

Should we get fired up every time a CU merges out of existence? (Even if into another CU?) Yes. Because the entire POINT of a credit union is to bring YOUR money, and YOUR financial institution under YOUR local control. Every merger is a step away from the goal. Every time a credit union is merged out of existence, an angel loses her wings.

That’s my take. What’s yours?