Maine Farm Credit named Financial Institution of the year

    PORTLAND – Farm Credit of Maine was named 2008 Financial Institution of the Year by the Finance Authority of Maine (FAME) at its annual meeting and awards banquet held Nov.18, at the Holiday Inn by the Bay in Portland.      According to Beth Bordowitz, FAME’s acting CEO, the agency chose to recognize Farm Credit of Maine for its valuable insights into the financial needs and operational complexities of Maine’s traditional land and sea-based industries.  
    “We are also pleased that Farm Credit of Maine has increasingly made use of our OnLine Answer (OLA) Program when looking for quick responses to its commercial loan insurance needs,” said Bordowitz.
    Farm Credit of Maine President and CEO Raymond J. Nowak expressed his appreciation for the award on behalf of the company and its 42 employees.
     “It’s always satisfying to be acknowledged for good work, and we are especially proud to receive this award as a FAME partner,” said Nowak. “Farm Credit of Maine is pleased to play such a vital role in the innovative financial solutions that help traditional family businesses in Maine’s natural resource industries grow and succeed.”
    According to Nowak, Farm Credit of Maine, like many other financial institutions throughout the state, has remained focused on traditional loan and banking practices and so is faring well even during these challenging economic times.
    “Farm Credit of Maine operates as a cooperative, owned and directed by our customers,” said Nowak. “For 92 years, we’ve adhered to sound banking practices and kept a good separation of board and management roles, so that even today we’re able to return a portion of our profits to our customer-owners. To be recognized by FAME for that achievement is very meaningful to us all.”
For more information, please visit www.farmcreditmaine.com.