Maine Harvest Credit Project (MHCP) is working to create a specialized credit union focused on the small farms and new food economy in Maine. We believe such a credit union will fill critical financing gaps facing this sector, particularly around financing the acquisition of land and specialized food processing and agricultural equipment.
The credit union will use the “Maine Harvest” name with a logo similar to the one above.
Creating Maine Harvest will allow this growing sector to tap Maine’s $30 billion market of US government-guaranteed retail deposits to fund its loan portfolio. For small farms and local food businesses this will mean improved access to larger loans with longer durations than are readily available from other financing sources.
Finally, we believe the creation of Maine Harvest will have an impact well beyond Maine’s borders. As the first deposit-taking institution in the USA focused on food system re-localization, Maine Harvest will be a model for other states and regions looking to scale up the financing options for small scale, sustainably produced food and agricultural products.
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