UMassFive College Federal Credit Union
UMassFive was established in 1967 and serves the University of Massachusetts as well as the Five College System and over 50 other nonprofits, co-ops, and municipalities. As a nonprofit financial cooperative, earnings are returned to members through better rates, lower fees, and improved services. “We pride ourselves in being a part of the community and working to make it a better place by supporting programs and organizations that are important to our members,” Cait Murray, UMass Five’s Community Outreach Manager explains.
UMassFive supports CISA because CISA makes a big difference in their community, and because they know that their members care very much about the local food economy. UMassFive created a 0% interest Farm Share Loan to cover the cost of a CSA, an expense that can be too big to pay at once for some of their members. The idea was that if they could finance a farm share, the farmer gets the money upfront to cover their operating costs, and the member is able to pay for the CSA over six months with no interest.
By working with CISA, UMassFive supports local farmers in a more significant way than they could ever do by themselves. “Our local farms are such an amazing aspect of our community and we love that many local farms participate in the HIP program, we are committed to ensuring that farms continue getting the support they need in order to thrive,” says Murray.