Farm Credit Canada

Farm Credit Canada

August 18, 2011 04:30 ET

"Agriculture matters to Canada," says FCC CEO Greg Stewart

REGINA, SASKATCHEWAN--(Marketwire - Aug. 18, 2011) - Farm Credit Canada (FCC) is committed to the long-term success of Canadian agriculture, according to presentations at FCC's annual public meeting, held in Victoria, British Columbia on August 17. To view FCC's annual public meeting presentations, visit www.fcc.ca/annualpublicmeeting.

"FCC is financially strong and stable, which allows us to serve the industry through all cycles," said FCC President and CEO Greg Stewart to an audience of customers, partners and stakeholders. "FCC is here for the long run. Our commitment to deliver an extraordinary experience to all customers – big and small, those who are experiencing success and those who are facing challenges – is more important than ever," said Stewart.

"Agriculture is the backbone of a strong and healthy Canada," added Stewart. "It's one of this country's top five industries, contributes $130 billion to our economy each year and provides one in eight jobs. The bottom line is that agriculture matters to Canada."

Close to eight per cent of Canadian farms across all sectors are run by young farmers. FCC supports them at every stage with financing, learning opportunities and more. In 2010-11, young farmers borrowed $1.6 billion from FCC to finance their future.

"It's a tremendous privilege to play a part helping today's young farmers – and farmers of all ages – achieve their dreams. Agriculture is a complex, dynamic and successful industry that needs our best and brightest to take over farms and other agribusinesses," said Stewart.

CFO Rick Hoffman provided highlights of FCC's financial results. FCC's portfolio is more than $21 billion and the 2010-11 year marked FCC's 18th consecutive year of portfolio growth. "We finance our own growth and each year, we pay a dividend to the Government of Canada. This year, we provided Ottawa with a dividend of $18.5 million," said Hoffman.

The meeting also featured FCC Board Chair Gill Shaw, who provided an overview of FCC's governance model and cultural practices, which guide employee behaviour at work and in the community.

Stewart thanked FCC's 100,000 customers across the country. "We never forget that customers are the reason we exist. We show them our appreciation by tailoring our offerings to the unique needs of agriculture, and contributing to the communities where our customers live and work."

"There are a lot of reasons to be optimistic about the future of agriculture," concluded Stewart.

As Canada's leading agriculture lender, FCC is advancing the business of agriculture. FCC is strong and stable – committed to serving the industry through all cycles. FCC provides financing, insurance, software, learning programs and other business services to producers, agribusinesses and agri-food operations. FCC employees are passionate about agriculture and committed to the success of customers and the industry. For more information, visit www.fcc.ca.

Contact Information