The National Credit Union Administration on Aug. 14 granted a federal charter and share insurance fund coverage to Maine Harvest Federal Credit Union.
The credit union will serve the employees and about 13,000 members of the Maine Organic Farmers and Gardeners Association and the Maine Farmland Trust. It expects to begin operations this fall.
Maine Harvest FCU 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, the credit union intends to offer 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.
