Atlanta, GA and Mount Laurel, NJ – October 2025 – MountainSeed Real Estate Services, LLC (“MountainSeed”), a Georgia limited liability company, has successfully completed a sale leaseback transaction with First Harvest Credit Union (“First Harvest”).
Effective October 2025, First Harvest sold one of its owned branch locations for a total purchase price of approximately $7 million, subject to customary closing adjustments. The property, located in a key New Jersey market, will continue to serve members and support the credit union’s ongoing operations.
As part of the transaction, First Harvest has entered into a long term lease agreement to retain full operational control of the facility. The lease includes an initial 15 year term with renewal options, enabling First Harvest to maintain uninterrupted service and a strong local presence in the community it serves.
This transaction reflects First Harvest’s forward-looking approach to financial stewardship and balance sheet management. By unlocking capital from its real estate holdings, the credit union gains flexibility to invest in strategic initiatives that further its mission of improving the financial well-being of its members across all life stages.
“First Harvest Credit Union’s Deptford branch has served the residents of Deptford Township and Gloucester County for over 30 years, and we look forward to continuing to operate our Deptford branch for many years to come with no changes or interruptions. Our partnership with Mountainseed has allowed us to rationalize our real estate needs, better position our balance sheet, better reinvest into enhanced technology and new services that our members expect, and most importantly, continue to drive economic development to Gloucester County for future generations.” – Michael Dinneen, President & CEO, First Harvest Credit Union
About MountainSeed:
MountainSeed acts as a beacon of trust and innovation in the real estate and banking industries, partnering with over 600 community banks and credit unions across all 50 states. As the most active company in conducting sale leaseback transactions with community financial institutions, MountainSeed also supports over $5 billion in commercial real estate transactions monthly through its tech enabled platform, providing expertise and access to a wide array of valuation, capital markets, and real estate services.
About First Harvest Credit Union:
Established in 1940, First Harvest Credit Union is a low income-designated credit union headquartered in Deptford, NJ. With more than $450 million in assets, 48,000 members, and 700 Select Employer Groups, First Harvest is the largest credit union in Southern New Jersey and operates six full-service branches and seven ATM-only locations across Atlantic, Burlington, Camden, Cape May, Cumberland, and Gloucester Counties. The credit union offers a full suite of saving, spending, borrowing and financial wellness solutions for consumers, institutions and businesses. For more information about First Harvest Credit Union, visit FirstHarvestCU.com
For further information, please contact:
MountainSeed Sales
Email: [email protected]
Forward-Looking Statements
This press release contains certain forward looking statements involving risks and uncertainties and relating to anticipated future events. Words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or conditional verbs such as “will,” “should,” or “may” often indicate such statements. Actual results may differ materially due to factors including economic conditions and changes in interest rates, among others.