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M a i n e — A P h oto P o rt r A i t o f t h e P i n e t r ee S tAt e P r o f i l e s i n e x c e l l e n c e 124 S ince 1916, Farm Credit of Maine has been recog- nized as a steady and reliable lender by Maine's traditional natural resource-based industries. A state-wide credit cooperative, Farm Credit of Maine is part of the 96-year old Farm Credit System, which today holds approximately $230 billion in total assets and is the largest provider of agricultural credit in the U.S. In addition to its long history of financial stability, this very specialized, customer-owned lending institu- tion has grown steadily for nearly 100 years, always ris- ing to the challenge as the need increases for financial capital to run modern small and larger-scale natural resource-based businesses. Farm Credit of Maine operates under a limited federal charter with a focus on Maine's natural resource-based industries — agriculture and food, commercial fishing and seafood, forest products — and rural communities. Farm Credit provides its customers in the agriculture and food industry with working capital loans to finance livestock, seed, chemicals and fertilizer; real estate loans for land purchases and production facilities; and com- mercial loans to finance new equipment, consolidate debt, or manage business when faced with adverse in- dustry conditions. And it partners with state-sponsored training programs whose curricula are designed to help entrepreneurs and owners of small and traditional and non-traditional natural resource businesses. There are many ways Farm Credit loans and related services help commercial fishing customers. All along the New England coast, Farm Credit actively partici- pates in industry fishing and seafood tradeshows. For many years, Farm Credit has offered support to Maine's working waterfront programs to help ensure access for Maine's fishermen. Farm Credit's customers in the forest products in- dustry benefit significantly from flexible loan struc- turing options for land, buildings, equipment, and working capital. Farm Credit actively participates in industry associations whose members include log- gers, foresters and small woodlot owners, and it con- tributes to forestry education programs that help pre- pare people for careers in the forest products industry and create public awareness about Maine's sustain- able forestry practices. From mortgages to commercial loans, Farm Credit supports its rural property customers through lending against commercial and residential value, and it offers competitive interest rates and terms as well as local ser- vicing. Farm Credit of Maine functions as an independent cooperative. That means when someone receives fi- nancing or services, he or she becomes a Farm Credit customer-owner. Customer-owners elect a board of di- rectors from among the membership. "This traditional cooperative governance structure has a way of keeping "In many respects, the way we conduct business is a direct reflection of the traditional industries we are chartered to serve," says Ray Nowak. Chief Executive Officer and President Ray Nowak spends time with new employees at the Auburn office to discuss Farm Credit's unique lending and technology partnerships, both at the state level and within the national Farm Credit System. Farm Credit of Maine P h o t o B y t i M G r e e n W ay