Maine Harvest Federal Credit Union Summer Research Intern
By Brian Ou '23
This summer I completed a financial research project and worked directly with Scott Budde, CEO and Co-Founder of Maine Harvest Federal Credit Union. The Credit Union is one of the first mission-oriented credit unions in the nation, and a pioneer in the world of sustainable banking for a better food economy.
The goals of the research included understanding deposit rates at mission-oriented financial institutions, calculating an interest rate for Maine Harvest, and exploring ways to increase the number of “mission” deposits the Credit Union receives. The results of the research will be used by the Credit Union to make better-informed business decisions that will hopefully lead to lower costs of funds and improve the profitability of the institution.
