About Us

We Value Dirty Hands.

Over the last 100 years, Maine (like many other states) lost many of the community-based financial institutions that understood (and lent money to) small farms and food businesses. In 1920, Maine had more than 200 locally-headquartered banking institutions; by 2017, we only had about 35. While many credit unions were also created during this period, most were not set up to lend to small farms and food producers. Maine Harvest FCU was created to fill the gap left by this trend.

We’re different.

And we’re on a  mission.

 

Our mission is to provide financing for small Maine farms and food producers

… and to do so with deposits from people and institutions that share our values. We’ve been working on it since 2011; and in 2019, Maine Harvest Federal credit Union received its Federal Charter. Keep scrolling to learn more about our credit union, or click below to read our full history/origin story.

 

How is a Credit Union different from a bank?

Credit unions serve defined groups. Credit unions are not-for-profit financial cooperatives that serve an identified community (rather than the general public). The people and organizations within the identified community are eligible to become “members” or “member-owners” of the credit union. In our case, that community includes members of the Maine Organic Farmers and Gardeners Association (MOFGA) and Maine Farmland Trust.

Credit unions are owned by their members. As a member-owner of a credit union, you have the ability to take out loans, make deposits, run for the board of directors (as a volunteer), and cast a vote in elections (on a one-vote-per-member basis).

Credit unions are affordable. Credit unions leverage the financial strength of their members to provide financial services to one another without the need to make a profit from these transactions. For this reason, credit unions can be more flexible, often offering higher savings rates and lower interest rates on loans than you would find at a traditional bank.

Federal credit unions are protected by regulations and deposit insurance. When a credit union is federally chartered, like Maine Harvest FCU is, it is technically a 501(c)(1) tax-exempt organization that’s regulated by the National Credit Union Administration (NCUA) and receives deposit insurance from the National Credit Union Share Insurance Fund (NCUSIF).

To learn more about credit unions or to find a branch near you, visit Maine’s credit union trade association, The Maine Credit Union League.

 

 

How is Maine Harvest FCU Different from other Credit Unions?

We know Maine farmers and food producers. Maine Harvest Federal Credit Union is the only fully-regulated financial institution focused on growing a healthy, local food system in Maine through government-guaranteed deposits. We know that traditional business financing options don’t usually work for everyday farmers and food producers, and that’s why we’re here. We understand small farms and food production businesses, we see their value, we know the challenges they face, and we’re on a mission to help more of them thrive.

Saving and lending is all we do. We exclusively offer business loans, regular share savings, and regular CDs, focused on filling a gap in the local farming and food production financing market. Because our focus is exclusively on saving and lending, we do not offer a full range of traditional banking products (checking accounts, mortgages, auto loans, etc.), but we are happy to refer you to another Maine credit union that will take great care of you for those needs.

Meet OUR TEAM

Our collective resume highlights include commercial banking, investment management, agricultural economics, agricultural lending, and naturally, 4-H. All of us share a passion for Maine farms and good, local food. We’re here to help. And we don’t mind getting our hands a little dirty.

Meet OUR TEAM

Our collective resume highlights include commercial banking, investment management, agricultural economics, agricultural lending, and naturally, 4-H. All of us share a passion for Maine farms and good, local food. We’re here to help. And we don’t mind getting our hands a little dirty.

DISCLOSURES

CONTACT US

PO Box 249
Unity, ME 04988