Maine Harvest Credit Project has reached its fundraising goal by raising $2.4 million, which will result in Maine Harvest Credit Union becoming the state's 56th credit union and the first-ever CU in the U.S. to lend exclusively to farmers and food entrepreneurs.
Once the charter is approved, the newly formed credit union will be run by a CEO, governed by a board and owned by its members. Maine Harvest plans to begin staffing by spring 2019 and intends to open its headquarters in Unity, Maine, by June 2019.
Maine Harvest will become part of the Maine Credit Union League, and its members will have access to shared branching and ATMs within its statewide network.
Sam May and Scott Budde are the co-founders of Maine Harvest.