FAME Welcomes New Board Members
June 17, 2025
FAME WELCOMES NEW BOARD MEMBERS
AUGUSTA — The Finance Authority of Maine (FAME) recently welcomed four new members to its board of directors. They bring a wealth of experience from their personal and professional backgrounds that will add to the already strong and effective board membership. The new members include: the Honorable Joseph Perry of Bangor, State Treasurer; Commissioner Michael Duguay of the Department of Economic and Community Development; Simon Ferland of the University of Maine System; and Michael Foley of Five County Credit Union. Perry and Duguay serve ex officio by virtue of their state offices, while Ferland and Foley were nominated by Governor Janet T. Mills and confirmed by the Legislature.
The Honorable Joseph C. Perry was elected in 2025 by a Joint Convention of the 132nd Maine Legislature to the Office of State Treasurer. Treasurer Perry’s priorities include prudent cash pool management, protecting the earned benefits of Maine public workers and educators, and completing bond sales and public-private partnerships for the common good of all Maine people. A former longtime legislator from Bangor, Perry chaired the Taxation and Transportation Committees. He also owned and operated Joe’s Market in Bangor for many years. He lives in Bangor with his wife and two children. Perry serves ex officio in his capacity as the State Treasurer.
Michael Duguay is the Commissioner of the Maine Department of Economic and Community Development. He is charged with overseeing more than two dozen experts across several bureaus whose mission is to help communities and businesses prosper through a variety of programs that provide everything from targeted tax relief to community block grants to tourism marketing. Previously, as Vice President for Innovation and Executive Director of the Harold Alfond Institute for Business Innovation at Thomas College in Waterville, he helped hundreds of entrepreneurs market their products and scale their businesses, and trained thousands of students to succeed in good-paying careers in Maine. Duguay began his economic development career at the Department of Economic and Community Development in 1990. He has enjoyed an extensive career in business, economic, and community development in Maine, including service as Director of Economic Development for the City of Augusta from 1999 to 2012. A native of Fairfield, Duguay is a graduate of the University of New Hampshire. He serves ex officio as the Commissioner of Economic and Community Development.
Simon Ferland is the Director of Data Systems—Student Financial Services, at the University of Maine. He oversees daily and long-term financial aid and student financial operations from a systems and data management perspective. A native of Old Town, Ferland earned his BA and MBA from the University of Maine and is currently a student in the Higher Education Ph.D. program. He is a nationally certified financial aid administrator and has been active in the National Association of Student Financial Aid Administrators (NASFAA). He lives in Bangor. Ferland occupies a seat requiring knowledge in the field of student financial assistance.
Michael J. Foley, Jr. is the Chief Growth Officer, Senior Vice President of Support Services at Five County Credit Union. He leads strategic initiatives of multiple departments for the credit union, which has assets under management of $380 million and serves over 30,000 members. Foley is an active member of the Maine Credit Union League, including its governmental affairs committee. A native of Cape Elizabeth, he was a longtime coach for the Cape Elizabeth Girls Lacrosse Programs, where he served for nine seasons. His wife and he have a daughter and a son and live in Cape Elizabeth. Foley occupies the seat reserved for a commercial lender.
“We are delighted to welcome Joe, Mike, Simon, and Mike to the FAME Board,” stated Renee Ouellette, FAME Board Chair. “These four outstanding leaders bring unique skills through their strong and varied backgrounds, which will reinforce the excellent work already being done by the Board to enrich business and educational outcomes through relevant, timely financial support to Maine’s people.”
CONTACT: BILL NORBERT (FAME)
(207) 620-3540
