Cedarholm helped raise $150,000 to purchase the Watertown campus, now valued at $18 million, from the Brothers of the Holy Cross located in South Bend, Indiana.

Maranatha Baptist Bible College opened just three months later, on September 10, 1968, with 173 students and 27 faculty members.

[6] At the end of the spring semester of 2023, former president Marty Marriott transitioned to the role of chancellor, only the second person to hold that title in Maranatha's history.

The university has two colleges, three schools and a Seminary and Bible Institute: Maranatha has 78.5% of classes with fewer than 20 students and has a 12:1 student-faculty ratio.

[8] Education programs at MBU are recognized by the Wisconsin Department of Public Instruction for purposes of teacher certification.

[10] MBU maintains memberships in various organizations including the American Association of Collegiate Registrars and Admissions Officers, American Association of Christian Colleges and Seminaries, National Christian College Athletic Association- Division II, and the National Collegiate Athletic Association- Division III.

Originally home to Sacred Heart College, the building was purchased from the Brothers of Holy Cross by B. Myron Cedarholm in 1968.

A web-based OPAC (online public access catalog), computer-equipped workstations, a media center, and instructional material curriculum are some of the resources available.

The main gymnasium also doubles as an auditorium, which is used for chapel services, special meetings, drama performances, and music concerts.

[14] Maranatha requires its students to follow a code of personal conduct based on New Testament Biblical principles.

Charlie Company won the five-man category of the Badger Ranger Challenge competition on numerous occasions.

[17] They currently are a member of the National Christian College Athletic Association (NCCAA), primarily competing as an independent in the North Region of the Division II level.