At its June 18, 2015 meeting, the Board of Directors of the Finance Authority of Maine (FAME) approved financing for Wireless Partners, LLC, of Portland. FAME approved loan insurance on a $3.4 million term loan by Mechanics Savings Bank. The financing will enable the company to complete a carrier-grade 4G Long-Term Evolution (LTE) network in Washington and eastern Hancock Counties, including up to thirty-two towers. The project is expected to help create and retain six jobs, with additional indirect jobs expected as a result. Wireless Partners, LLC is a Maine-based, veteran-owned company that designs, builds, owns and operates Enhanced 4G LTE cellular networks in partnership with Verizon Wireless. “FAME is pleased to partner with Mechanics Savings Bank to provide financing for this project, which we hope will lead to better cell phone coverage and broadband data access in the underserved areas of Washington and eastern Hancock Counties,” stated FAME Board Chair Raymond Nowak. “It is our hope that the planned communication improvements by Wireless Partners will support business expansion, emergency services, and the tourism industry in Maine. Such partnerships are a key part of FAME’s strategy to support infrastructure that enables the success of other businesses.” “We are pleased to be partnering with FAME and Mechanics Savings Bank on this important project,” said Bob Parsloe, President and Chief Executive Officer of Wireless Partners, LLC. “This project will make it possible for people who live, work and recreate in Downeast Maine to have reliable 4G LTE broadband and voice cellular service that allows them to be connected like the rest of the world.” FAME’s Commercial Loan Insurance Program insures a portion of a loan to a business made by a participating financial institution. For a business, it may mean the difference between obtaining a loan or never getting the opportunity to start a business.
FAME is excited to announce that Claim Your Future® (formerly known as Get a Life) is now available online. Claim Your Future is a free interactive game that encourages exploration into education after high school, future careers, and money management. The objective of Claim Your Future is to teach learners several important lessons, including understanding “wants” versus “needs” and the impact of making choices. Students also learn the strong connection between the choices they make today and their future opportunities. Most importantly, students learn that education and training after high school typically leads to more career options and higher paying jobs. The newly unveiled online version of the game offers numerous resources that the traditional classroom version does not. Through the site, students are able to choose a career and navigate through different spending choices. They will find descriptions of academic degrees, careers, key vocabulary and various spending options. Students can also see a visual representation of how much money they’ve spent as they progress through the game. The website offers a number of additional materials, including: In addition to the online game, FAME recently redesigned the Claim Your Future classroom game to include new career options and an extensive educator’s guide that includes budget worksheets, detailed lesson plans, homework activities and additional resources. Interested middle schools should contact education@famemaine.com to request a free game kit. From kindergarten to college and beyond, FAME’s College Access and Financial Education Team offers a diverse selection of financial education initiatives to Maine students and offers financial education sessions to several thousand Maine students each year. These sessions are offered directly in the school or college setting through presentations, games and a variety of hands-on learning activities. “FAME is pleased to be making this important money management tool available to all online and free of charge,” stated Bruce Wagner, Chief Executive Officer. “We hope every student, teacher and citizen takes advantage of this opportunity to improve their financial knowledge.”
FAME is excited to announce that Claim Your Future® is now available to all of Maine’s middle schools free of charge. Claim Your Future is an interactive game that encourages exploration into education after high school, future careers, and money management. The objective of the educational tool is to teach learners several important money management lessons, including understanding “wants” versus “needs” and the impact of making choices. When played in the classroom, students are assigned a unique Claim Your Future game wheel representing a specific career, college degree, and monthly salary. Educators are encouraged to discuss various career and college options and lead students through a monthly budget activity. Through this process, students learn the strong connection between the choices they make today and their opportunities in the future. They will also learn that higher education typically leads to more career options and higher paying jobs. FAME recently redesigned Claim Your Future (formerly known as Get a Life) to include new career options and an extensive educator’s guide that includes budget worksheets, a detailed lesson plan, homework activities and additional resources. An online version of Claim Your Future will be launched in the coming weeks. Interested middle schools should contact education@famemaine.com to request a free game kit. From kindergarten to college and beyond, FAME’s College Access and Financial Education Team offers a diverse selection of financial education initiatives to Maine students and offers financial education sessions to several thousand Maine students each year. These sessions are offered directly in the school or college setting through presentations, games and a variety of hands-on learning activities. “FAME is pleased to be making this important money management tool available free of charge to all of Maine’s middle schools,” stated Bruce Wagner, Chief Executive Officer. “We hope every middle school takes advantage of this opportunity to expand financial education into early educational years.”
Events to highlight the importance of planning for the cost of higher education and benefits of the NextGen College Investing Plan FAME announced today that it will hold Future Faces of Maine 529 celebrations at three locations around the state to raise awareness of the importance of planning for the expense of education after high school, offer assistance to open NextGen College Investing Plan accounts, have fun, and share helpful educational giveaways. The celebrations are designed to recognize 529 College Savings Day, proclaimed by the United States Congress as a way to raise national awareness and boost interest in Section 529 college saving programs. The events will also encourage families to think about their children’s futures and to start planning now for the costs of education after high school. The Future Faces of Maine events will take place in:
  • Presque Isle: At the Aroostook Centre Mall on Friday, 5/29, from 4 PM to 7PM
  • Bangor: At Eastern Maine Community College, Rangeley Hall, on Saturday, 5/30 from 10 AM to 1 PM
  • Portland: At the University of Southern Maine, Woodbury Campus Center, on Saturday, 5/30 from 10 AM to 1 PM
At each event, kids will have the opportunity to enjoy face painting and a photo booth, and parents can talk to a NextGen representative for information about and help opening a NextGen account. For those who already have accounts, NextGen representatives will share information about expanded matching grants, including the one-time $100 Automated Funding Grant. Every child who attends will receive a Future Faces of Maine Starter Pack — a lunch bag filled with educational information and other giveaways. The first 150 families to attend each event will also receive a $25 Amazon gift card. Families do not need to open a NextGen account to receive the Starter Pack or $25 Amazon gift card. “These events offer a great opportunity for families in Maine to begin planning for higher education,” said FAME Chief Executive Officer Bruce Wagner. “College affordability can be a concern for Maine families, but FAME is here to help.” Wagner added that FAME has set a goal to grow the number of Maine citizens with quality in-state jobs. Providing educational events such as these is one way to accomplish that goal, he said. “At tuition time, every dollar in a college investing account is one that does not need to be borrowed and repaid later with interest,” continued Wagner. “Children with college savings are almost seven times more likely to pursue higher education.”¹ FAME and other partners are working together to make higher education more attainable to all Maine families, Wagner explained. In January, FAME announced that it had increased the amounts of NextGen matching grants to help Maine families that invest for education after high school. The NextStep Matching Grant was tripled to a maximum $300 per year and the Automated Funding Grant doubled to $100. “Hundreds of dollars in grant money are available to eligible Maine families annually,” said Wagner. “We want to make sure that no Maine family leaves money on the table.” FAME created a robust set of grants in an effort to help encourage Maine families to invest in their children’s future. Over 40,000 Maine children have NextGen accounts. Following is a summary of the NextGen matching grants for Maine residents:
  • A $200 Initial Matching Grant is available to eligible Maine accounts that are opened with as little as $25 in the Client Direct Series or $50 in the Client Select Series.
  • NextStep Matching Grant provides a 50% match on eligible contributions per calendar year, up to a $300 match per year. For Example:
    • Contribute $50—get a $25 matching grant
    • Contribute $160—get an $80 matching grant
    • Contribute $600—get a $300 matching grant
  • One-Time $100 Automated Funding Grant is available to eligible accounts that make automatic contributions through payroll deduction or from a checking or savings account. The Automated Funding Grant is awarded after six consecutive automated contributions no less than quarterly in frequency.²
Families with children who are eligible³ for the $500 Harold Alfond College Challenge Grant may open a NextGen account without making an initial contribution. For every baby born a Maine resident since 2013, the Alfond Scholarship Foundation invests a $500 Alfond Grant for his or her future qualified higher education expenses. See Terms and Conditions of Maine Grant Programs for other conditions and restrictions that apply. Grants are subject to change.

About NextGen

NextGen is a Section 529 plan administered by the Finance Authority of Maine (FAME). Before you invest in NextGen, request a NextGen Program Description from your Merrill Lynch Financial Advisor or Maine Distribution Agent or call Merrill Edge at 1-877-463-9843 and read it carefully. The Program Description contains more complete information, including investment objectives, charges, expenses and risks of investing in NextGen, which you should carefully consider before investing. You also should consider whether your or your designated beneficiary’s home state offers any state tax or other benefits that are only available for investments in such state’s Section 529 plan. Merrill Lynch, Pierce, Fenner & Smith Incorporated, a registered broker-dealer, member SIPC, is the program manager and underwriter. Footnotes: ¹Elliott & Beverly, 2011; American Journal of Education. ²Dollar Cost Averaging – Dollar cost averaging and other periodic investments do not ensure a profit and do not protect against loss in declining markets. Such a plan involves continuous investment in securities, regardless of fluctuating price levels of such securities. Investors should consider their financial ability to continue their purchases through periods of high or low price levels. ³Children born as Maine residents since January 1, 2013
At its April 16, 2015 meeting, the Board of Directors of FAME approved 90% loan insurance on a $3.5 million loan by Caisse Centrale Desjardins US Branchto Polycor New England, Inc. (“Polycor NE”) to help finance the purchase of a quarry and the construction of a curb manufacturing facility in North Jay, Maine. The quarry acquisition and curb manufacturing facility represent the company’s first investments in Maine and are expected to create twenty direct jobs in Western Maine. Polycor NE is a subsidiary of Polycor, Inc. Polycor, Inc. is based in Quebec City, Quebec, Canada, and operates over twenty-five quarries and five fabrication plants in North America, including in Georgia and Virginia. The company was established in 1987 and has extensive experience in the quarrying and marketing of stone. It is a diverse supplier of granite, limestone, marble and other stone-based products, and is a fully-integrated granite and marble manufacturer. Caisse Centrale Desjardins US Branch is the U.S. subsidiary of Desjardins Group, North America’s largest cooperative financial group based in Quebec, Canada. Caisse Centrale Desjardins US Branch is located in Hallandale Beach, Florida. It is authorized to conduct business across the United States, including Maine. The company plans to begin development of the North Jay quarry and construction of the curbing plant this year. It plans to commence curb production in 2016 and be fully operational in 2017. Polycor NE projects that twenty direct jobs and twenty indirect jobs will be created in the area, and that approximately $3 million will be injected into the local economy as a result. “FAME is pleased to partner with Caisse Centrale Desjardins US Branch to facilitate Polycor NE’s expansion into Maine and the company’s plans to re-start an inactive but valuable quarry in Western Maine,” stated FAME Board Chair Raymond Nowak. “We are happy to support the return of additional manufacturing in this part of the state with the construction and equipping of a state-of-the-art curbing facility.” “We are grateful to be partnering with FAME and Caisse Centrale Desjardins US Branch on this important project,” said Patrick Perus, Chief Executive Officer of Polycor NE. “This financing will allow us to establish a New England location that will help us maximize our logistical capabilities in the urban landscaping market of the U.S.” FAME’s Commercial Loan Insurance Program insures a portion of a loan to a business made by a participating financial institution. For a business, it may mean the difference between obtaining a loan or never getting the opportunity to start a business.
At its March 19, 2015 meeting, the Board of Directors of FAME approved 90% loan insurance on a $4 million loan by Camden National Bank to Redzone Wireless, LLC (“Redzone”), which is located in Camden. The financing will be used for capital for the company’s start-up operations. FAME’s action is expected to help spur development of wireless broadband service that may dramatically improve broadband Internet speeds and ultimately reach over 90% of the state’s population. FAME’s financing also is expected to help Redzone create and retain approximately 18 Maine jobs in the near future. “FAME is pleased to support Redzone with its plans to develop improved access to broadband Internet for Maine homes and businesses,” stated FAME Chief Executive Officer Bruce Wagner. “We know how important Internet access and speed are to Maine’s economic development and to its citizens in both rural and urban areas. FAME’s financing should help provide a much-needed boost for development of this important infrastructure.” “We are honored to be partnering with FAME and Camden National Bank on this important financing,” said Jim McKenna, Redzone President & CEO. “This approval will allow us to demonstrate the potential of our wireless technology, the strength of our business model, and our alignment with the broadband and economic development goals of the state of Maine.” Redzone was formed to provide premium wireless broadband services to residential and business customers in the state of Maine. The company is developing a powerful state-of- the-art 4G Long-Term Evolution (LTE) advanced high-performance wireless broadband network operating on a Federal Communications Commission (FCC)-licensed Educational Broadband Services (EBS) spectrum. Redzone has entered into an exclusive long-term agreement with the University of Maine to access its spectrum and expand 4G LTE wireless Internet service to University locations statewide. Redzone Wireless will begin offering broadband service plans via its website (www.redzonewireless.com) within selected coverage areas in April of 2015. All Redzone 4G LTE broadband subscribers will have access to plan choices that meet or exceed the latest broadband speed standards of both the FCC and ConnectME Authority.
SALT™, an innovative online program designed to empower students to confidently manage their money and build financial skills for life, is now available to high school students across the state.  Created by American Student Assistance (ASA), SALT offers interactive money management lessons, a scholarship search tool, and numerous resources to assist in planning and paying for college. FAME offers SALT to all Maine high school students through a partnership with ASA. Maine has become a national leader in its statewide efforts to promote financial education. Colleges and universities across the state have engaged thousands of students to utilize SALT, which offers well-timed, neutral financial education resources, advice, and self-paced courses designed from the student’s point of view. College students also have access to live one-on-one counseling from trained advisors who can answer students’ questions objectively and help advocate on their behalf. “Maine students often try to navigate the college financing and loan repayment waters with inadequate knowledge of the process and without thinking through the consequences of their indebtedness,” said FAME Chief Executive Officer Bruce Wagner. “By expanding SALT to Maine high school students, FAME is providing another, earlier opportunity for Maine students to be better prepared to plan their futures. 85 percent of college students in Maine have access to SALT, and now 100 percent of all high school students will, as well.” By collaborating with ASA, FAME fulfills its mission to support Maine students, recognizing that an educated and financially capable student leads to economic stability statewide. Since FAME launched the SALT college pilot in 2012, 14,000 Maine students have activated their accounts. Also, there have been a total of 31,101 total visits to the site, as well as approximately 328,000 page visits. In addition, FAME is excited to launch a new financial literacy guide, titled, Managing Your Money. This publication was created to provide students of all ages with essential tips and tools for building lifelong money management skills.
FAME celebrated another year of successful business and educational partnerships at its annual meeting and awards event, Showcase Maine, which was held on November 13, 2014, at Portland’s Holiday Inn By The Bay. The evening featured a reception, including a showcase of exhibits by Maine businesses and educational organizations that partner with FAME; a dinner and awards presentation; and a keynote speech by Bull Moose founder Brett Wickard. “FAME enjoyed celebrating the successes of the past year with our partners in Maine’s business and higher education communities,” said Bruce Wagner, FAME’s Chief Executive Officer. “We were pleased to recognize key partners with awards and to unveil our future plans for growth as we seek to enhance and expand Maine’s economy.”

2014 Award Recipients :

Business at Work for Maine Award

St. Croix Tissue, Inc. was recognized for its innovation and adaptability over the years, which is particularly noteworthy considering the challenges facing Maine’s historic papermaking industry. In September of this year, FAME and St. Croix Tissue, Inc. finalized a deal to have FAME issue a $7.5 million bond through FAME’s Major Business Expansion Program. The financing, which benefits the mill in Baileyville, as well as the surrounding economy in Washington County, will help St. Croix and a related company, Woodland Pulp, LLC, create and retain approximately 400 Maine jobs.

Education at Work for Maine Award

Harold Alfond® College Challenge: The Harold Alfond College Challenge (HACC) is a first-of-its-kind legacy gift to help Maine families save for and aspire to higher education. The program awards a $500 grant for qualified higher education expenses to eligible Maine children. More than $20 million has been invested for over 40,000 Maine children since the program’s inception. In 2014, the grant became more broadly available, with the Alfond Scholarship Foundation now making the $500 grant (plus any earnings) available to all children born as Maine residents.

Financial Institution of the Year Award

Camden National Bank: Camden National Bank was honored with an award for a fifth time. Over the past year, Camden National partnered with FAME on 67 loans totaling over $13.8 million. This in turn helped to create 209 Maine jobs and retain an additional 657 jobs. The bank also is committed to the communities it serves, supporting a variety of business, community, and non-profit organizations.

Dirigo Legislative Champion Award

Hon. Brian Langley of Hancock County: Langley, a state senator representing Hancock County, is also a chef, entrepreneur, and former educator. He serves on the Legislature’s Joint Standing Committee on Education and Cultural Affairs. Sen. Langley has been an active supporter of the Bridge Year Program, a collaborative effort involving the faculty and teamwork of Hermon High School; the United Technologies Center in Bangor; Eastern Maine Community College; and the University of Maine.
Prior to Showcase Maine, FAME’s annual dinner and awards ceremony, the FAME Board met for its monthly meeting and approved financing for two Maine businesses involved in the natural resources sector: North Atlantic, Inc., a Portland-based wholesale importer and distributor of frozen seafood; and Lincoln Paper & Tissue, LLC, a Lincoln-based manufacturer of commodity and specialty tissue products. The board approved the renewal of loan insurance on a Bangor Savings Bank $5 million line of credit for North Atlantic.  FAME has supported the company’s financing needs since 2009, and the board’s action will help the company retain seven jobs. The board also approved a $1 million direct loan to Lincoln Paper & Tissue for working capital needs following a fire and flood at the facility in recent years. FAME’s actions will help the mill retain 175 direct jobs and hundreds more indirect jobs in the local economy. “Lincoln Paper & Tissue greatly appreciates FAME’s swift assistance and commitment to the success of the mill,” stated Keith Van Scotter, President & CEO. “FAME’s efforts and commitment to the region will go a long way toward helping to retain good-paying jobs in the area and to a bright future for the facility.” Finally, the board also elected new officers for the 2015 year:  Raymond Nowak was re-elected to serve as chair; James Violette, Jr. was elected as vice-chair; and Cheri Walker was re-elected as treasurer.
FAME is pleased to announce a statewide expansion of the SALT program in Maine. Created by American Student Assistance (ASA), SALT is an innovative program designed to empower college students and alumni to confidently approach, manage, and pay back their student loans while gaining financial skills for life. In 2012, FAME and ASA launched SALT as a pilot program at ten participating Maine colleges and universities. As a result of the pilot, Maine has become a national leader in its statewide efforts to promote financial literacy. Colleges and universities across the state have engaged thousands of students to utilize SALT, which offers well-timed, neutral financial education resources, advice, and self-paced courses designed from the student’s point of view. Students also have access to live one-on-one counseling from trained advisors who can answer students’ questions objectively and advocate on their behalf. FAME’s newest effort will extend SALT in Maine for an additional two years, and will be offered at all interested Maine colleges at a reduced sponsorship level, made possible by financial support from FAME and ASA. In addition, all Maine high school students will have access to a customized saltmoney.org site, including interactive money management lessons, a scholarship search tool, and resources to assist in college planning. “Maine students often try to navigate the college financing and loan repayment waters with inadequate knowledge of the process and without thinking through the consequences of their indebtedness,” said FAME Chief Executive Officer Bruce Wagner. “FAME already offers many services to support students in their pursuit of higher education. With the statewide launch of SALT, FAME is providing another opportunity for Maine students to be better prepared to plan their futures.”