Credit Union Will Offer Affordable Financial Services to Farm and Food Production Community
ALEXANDRIA, Va. (Aug. 23, 2019) – The state of Maine has a new credit union, Maine Harvest Federal Credit Union, headquartered in Unity.
The National Credit Union Administration on August 14 granted a federal charter and Share Insurance Fund coverage to Maine Harvest, which will serve the employees and approximately 13,000 members of the Maine Organic Farmers and Gardeners Association and the Maine Farmland Trust.
“How appropriate that this credit union is located in a town named Unity,” NCUA Chairman Rodney E. Hood said. “Credit unions are organized through, and operate on, the principle of people working together to support one another. I want to thank the organizers of Maine Harvest for their hard work to bring their dream to reality and congratulate them on their charter.”
Maine Harvest was chartered to make affordable member business loans to small farms, farmers, and other food producers within its field of membership. Loan funds will be available through mission-based deposits. During its first year of operations, Maine Harvest will offer its membership:
- Agricultural real estate loans
- Agricultural-related equipment loans
- Regular shares
- Share certificates
- Home and mobile banking
- Wire transfers
- Cashier checks
- Shared branching
- Debit ATM cards
- E-statements and online applications
Maine Harvest Federal Credit Union expects to begin operations this fall.