On episode 30 of Granite Goodness Andy makes his way to Concord to talk to Charley Cummings, who runs the uber-ethical bank where Andy’s vast nest egg is held (the vault was in fact empty). Much of this interview is Andy receiving a basic education on farm animals, but the two also discuss:
Local Food Connection: Charley emphasizes the importance of connecting people to their food sources for better ecological, economic, and community outcomes.
Walden Local Meat: Charley’s previous company, Walden Local Meat, aims to provide sustainably sourced, local meat directly to families, supporting small farms and strengthening local food systems.
Foundation of Walden Mutual: Walden Mutual Bank was created to provide financial support to local farms and food businesses, using a mutual bank structure that aligns with community-focused values.
Community Investment: Walden Mutual enables anyone to make a positive impact by using deposits to fund local, sustainable food ventures, fostering a closer connection to local economies.
Entrepreneurial Advice: Charley advises new entrepreneurs to rely on real customer feedback, build a strong team early, and focus on creating businesses aligned with their values and community needs.
and more!
Charley Cummings is the Founder and CEO of Walden Mutual Bank, where he helps to enable anyone to “make positive, lasting change in our local food ecosystem.” He is also the Founder and former CEO of Walden Local Meat.
Links and notes
This episode was recorded at Walden Mutual Bank in Concord, NH
Music by Sneaky Miles
Youtube
AI Generated Episode Summary*
What inspired you to pursue local food systems?
Local food reconnects people to the land and to each other, which can lead to better ecological, economic, and societal outcomes. I believe that when people understand where their food comes from, it fosters a meaningful connection to their community and a sense of responsibility for the environment.
How did your journey lead you to New Hampshire?
My wife and I had always imagined ending up here, and I have family roots in the state. I came here initially to ski in high school, and later, we moved to a small town right before the pandemic. The decision was easy—we loved the community, the open spaces, and the hiking.
Can you tell us more about the impact of Walden Local Meat?
Walden Local Meat began as a way to connect people with ethically raised, local meat. We work with local farms to distribute meat directly to consumers in a CSA-like model, delivering directly to families across the region. This allows us to support local farms while giving people high-quality, sustainably sourced food.
What were some early challenges you faced?
Building Walden Local Meat was definitely a grind. We didn’t have any breakthrough technology or massive funding—just a lot of learning and optimizing each step along the way. The toughest part was figuring out which advice to follow and trusting the data from real customer transactions instead of relying on general opinions.
How did you transition from Walden Local Meat to Walden Mutual Bank?
I noticed a gap in the banking world where traditional banks didn’t fully understand agricultural businesses. Walden Mutual emerged from a need for a bank that could support our regional food system by offering access to capital for local food and farm businesses, aligning financial services with the values of sustainability and community support.
Why start a mutual bank?
The mutual bank structure made sense because it’s essentially owned by its depositors, similar to a cooperative. Mutual banks have a long history of serving communities well and creating stability by not taking excessive risks. This structure aligns with our mission to foster a sustainable food ecosystem and creates a governance framework that prioritizes long-term, community-focused goals.
How does Walden Mutual contribute to the local food system?
Walden Mutual allows anyone to have a positive impact by simply opening a bank account. We use those deposits to make loans to local farms and food businesses. This support helps create a more sustainable food system by lowering capital costs and expanding access to resources for businesses that align with our values.
What’s your view on traditional impact investment versus local investment?
Traditional impact investment focused on screening out negative industries. But now, we see a desire for investments that have measurable impacts close to home. People want their money to support meaningful change in their communities, not just abstract “ESG” goals. Walden Mutual embodies this by supporting businesses people can see and trust locally.
How do you view the balance between modern efficiency and traditional practices in agriculture?
It’s essential to learn from both. While modern technology can improve yields, it doesn’t have to conflict with practices that respect the land and community. New England is well-suited for pasture-based farming, which is sustainable and strengthens local ecosystems, so there’s no need to rely solely on industrial farming methods here.
What advice would you give to new entrepreneurs?
Find data from real customers and avoid asking too many hypothetical questions. I also learned that it’s crucial to build a strong team early on—doing everything myself held back Walden Local in its early years. Ultimately, surround yourself with people who understand your mission and values.
*This episode summary was generated by an AI analyzing a transcript of the interview. The questions, wording, and written meaning of particular sections may contain slight differences to the original conversation. We include these summaries to give listeners a brief, readable synopsis of the episode. The full episode transcript is available on granitegoodness.com.
Share this post