Update for Slow Money maine March 8, 2017 - gardiner Scott Budde, CFA Project Director Sam May Advisory Board Chair

Credit Union Basics – Maine harvest Structure Maine Harvest will be a “multiple common bond” field of membership for MOFGA and MFT members Membership in Maine Harvest CU starts with $5 deposit. 1 member = 1 vote Members elect Board Board appoints management Maine Harvest profits are either (1) retained for growth or (2) used to reduce rates to borrowers or (3) used to increase rates to depositors Maine Harvest members collectively “own” Maine Harvest CU Deposits = Shares Financial Cooperative Not for Profit 501 (c) 14 Members with a Common Bond Member Governed

Credit Union Basics – Maine Harvest Business Model 1 office in central Maine Extensive use of web-based services Extensive use of shared branching and ATM;s President & CEO Chief Lending Officer Operations Officer Maine Harvest profits are either (1) Land Loans to $400k) (2) Business Loans to$125k (3) Equipment Loans to $25k Regular Savings Accts Certificates of Deposit (no checking) Deposits Loans Service Delivery Management

Key People in chartering Our Oversight Board & Organizer Group Brian Gately = CU Chartering Consultant Ex NCUA, Ex Nat. Fed. Of Community Dev. CU’s Gene Ardito CEO of cPort CU (our mentor CU) John Murphy President, Maine Credit Union League Mike High Attorney at Drummond Woodsum

What we need: Fundraising status

Disclosure: Maine Harvest must submit an application for a credit union charter to the Maine Bureau of Financial Institutions and apply for share insurance from the National Credit Union Administration before commencing operations. Approval of these applications is not assured at this time.