Staff at Leek United Building Society have spurned the latest advance from Murray Financial guaranteeing them their jobs and offering shares and bonuses in return for their support of the proposed takeover.
Staff at the society were sent an open letter from Murray Financial late last week outlining a series of incentives aimed at gaining their support.
The letter was circulated to staff, but their views are said to have remained unchanged.
The society's staff association rejected the proposals claiming they were merely a "cheap" stunt to gain headlines.
Staff association chairman Keith Brightmore says: "I have spoken personally to many of my colleagues over the past few days and they remain fully committed to the independent and mutual status of the society.
"The staff of Leek United see no point in entering talks with Murray Financial.
"We therefore have no intention of meeting their representatives, there is nothing to discuss."