• Products and services will be expanded to more than 10,000 members across Kennebec and Somerset Counties
• Merger integration phase expected to be completed by November 1, 2016
• Members will be unaffected during the merger integration phase; no immediate action is required
AUGUSTA, MAINE – April 1, 2016 – KV Federal Credit Union (“KVFCU”), the Augusta, Maine-based, full-service financial institution, with more than 7,800 members and over $60 million in assets, today announced its merger with HealthFirst Federal Credit Union (“HealthFirst”), the Waterville-based federal credit union with approximately 3,200 members and more than $15 million in assets, to better serve their members. The merger integration phase, during which HealthFirst data and processes will be transferred to KVFCU’s systems, is expected to be complete on November 1, 2016. KV Federal Credit Union will be retained as the name of the Credit Union.
In the midst of a rapidly changing regulatory environment, the merger will result in a regional federal credit union with a full array of financial products and services for all new and existing members across Kennebec and Somerset counties. These include: access to three branches, competitive lending and savings rates, technological advancements in banking -- including mobile banking and billpay, Apple iPay, chip-enabled debit and credit cards, and other products and services, such as commercial banking, home mortgages, automobile and recreational vehicle loans.
About KV Federal Credit Union
Established in 1962, KV Federal Credit Union ("KVFCU") is an Augusta, Maine-based, cooperative full-service financial institution. Following its merger, KVFCU has more than 10,000 members and more than $75 million in assets. With branches in Augusta, Oakland and Waterville, KVFCU is committed to its members and the communities in which they reside. KVFCU offers products and services common to most financial institutions, including personal savings and checking accounts, Visa® debit cards and gift cards, direct deposit, mobile banking, billpay and Apple iPay, payroll deduction, lines of credit & overdraft protection, retirement accounts (including money markets and IRAs), wire transfers, Health Savings Accounts ("HSA"), business checking accounts and lending, online applications and a variety of loans (including: mortgages, home equity, automobiles, recreational vehicles and motor homes). For more information or to open an account, please visit www.kvfcu.org.