VSECU announces support of Milk Money L3C to foster local entrepreneurship and small business

“This is exactly the type of collaboration that makesVermont a very special place to grow a business or an idea. With a community byyour side who believes investing locally is not only theright thing to do, butthe smart thing to do, Vermonters are tackling economic and social challengeshead on in the most creative ways,” said Vermont Governor Peter Shumlin. “Thankyou toMilk Money and VSECU who have created such a partnership to supportVermont small businesses and local entrepreneurs in a big way,” he added.

The partnership includes an equity investment inMilk Money through VSECU’s wholly owned, independently operated subsidiary,Vermont Heritage Financial Group (VHFG), and signifies thefirst official initiativeas part of VSECU’s new vision, also unveiled today. Under this new vision VSECUwill leverage its scale, capacity and cooperative principles to foster social,environmentaland financial prosperity throughout Vermont.

“Our missionhas long been to improve the lives of all Vermonters, and our new vision isreally a renewed focus on that mission in a very literal sense,” said RobMiller, CEO of VSECU. “Withour large scale and reach across the state, we arein a very unique position to bring people together and empower thepossibilities to help tackle some of Vermont’s economic and socialchallenges.Fostering positive social and economic change enhances the communities in whichour members live, creating a real impact on our members outside of our financialproducts, andthat’s our ultimate goal.”

Milk Money was founded by Janice Shade and LouisaSchibli in February 2015, to take advantage of the “invest local” opportunitiesoffered by the Vermont Small Business Offering (VSBO)regulatory changes thatwent into effect in July 2014. Vermont entrepreneurs can post fundraisingcampaigns onwww.MilkMoneyVT.comto solicitequity/debt investments from any Vermontresident. Prior to VSBO, suchinvestment opportunities were available only to accredited investors, who are individualswith $200,000 annual income and/or net worth over $1 million excludingtheirhome.

Schibli and Shade will continue to serve as managingmembers of Milk Money, managing day-to-day operations for the company. Theinfusion of launch capital will provide the startup withgreater resources togrow its crowdfunding platform and entrepreneurial support services, increasinglocal investment opportunities for Vermonters and growing small businessthroughout thestate. VSECU members will also benefit from the relationshipthrough increased access to investment and entrepreneurial educationalprograms, as part of this new partnership.

“Janice and I founded Milk Money to helpdrive local investment, giving entrepreneurs access to local capital and strengtheningVermont’s local economy, and our newrelationship with VSECU accelerates ourability and capacity to meet those goals,” said Schibli. “We are thrilled tonot only have VSECU’s support and encouragement,but to also benefit from itsscale and reach to make more Vermonters aware of local investment opportunitiesand how they can make an impact in their communities.”

“Credit unions were the original peer-to-peerlenders, and with Milk Money’s focus on supporting local investment at theindividual level, it was a natural fit,” saidMiller. “One of the mostsignificant ways we improve the lives of our members – and all Vermonters – isto help strengthen Vermont’s economy. This investmentsupports those efforts byfostering a healthy, locally-grown entrepreneurial ecosystem, connectingVermonters with Vermont business and growing theMade in Vermontbrand.”

About VSECU

VSECU is a not for profit bankingalternative for everybody who lives and works in Vermont, offering a fullrange of affordable financial products and services to its member owners.VSECU iscommitted to improving the lives of Vermonters by empowering the possibilitiesfor greater social, environmental, and financial prosperity. For moreinformation about VSECU, call 802/800 371-5162or visitwww.vsecu.com.

About Milk Money

Milk Money L3C isVermont's first and only third-party equity crowdfunding portal. The company'swebsite,www.MilkMoneyVT.com, was launched inJuly 2015 with a mission toput the meansfor creating new businesses, a strong localeconomy and personal wealth within the reach of all Vermonters. Based inCharlotte, Vermont, it was founded by two seasoned entrepreneurs whoidentifieda hole in the early stage capital market and created a solution that takesadvantage of the Vermont Small Business Offering regulatory updates of July2014.

Milk Money ispowered by VSECU through its wholly owned, independently operated, subsidiary,Vermont Heritage Financial Group, Inc. Investments made through Milk Money arenotfederally insured by NCUA, involve investment risk, may lose value and arenot obligations of or guaranteed by the credit union.