Message from the President and CEO
President and Chief Executive Officer
When we launched our new corporate strategy three years ago, we framed it around three pillars: to be bold, to be a catalyst and to build for resilience. As I reflect on fiscal year 2025-26 – a year punctuated by continuing economic pressures, trade uncertainty, rising costs and shifting markets – those pillars are more important than ever.
At the same time, I’ve seen again and again the determination, adaptability and pride that define the people who make this industry succeed. FCC’s role is to stand with our customers through those tough moments, and this past year has reinforced yet again just how important that is.
FCC ended the year in a strong financial position. This allowed us to do what we are here to do: provide reliable access to capital, support customers when conditions are difficult and invest in the long‑term success of Canadian agriculture and food.
Through FCC Capital, we continued to expand the range of flexible financing available to the industry. Early in 2026, FCC convened a coalition of more than 20 private and institutional investors, who collectively pledged to deploy $5 billion into Canadian agriculture and food by 2030. That builds on FCC Capital’s existing $2 billion pledge, bringing the total potential investment to $7 billion. This will be an important catalytic driver for our industry.
Throughout the year, we stayed focused on strategically increasing our risk tolerance, as the industry’s needs required – improving governance and operational efficiency, and fostering prudent growth. But FCC’s impact goes well beyond the numbers.
Over the past year, we continued to advance the priorities set out in our Corporate Plan, supporting customers with financing, advisory services and digital tools that address the realities they face each day, from managing volatility to planning for transition and growth.
We know innovation doesn’t happen in isolation. Over the past year, we strengthened key strategic partnerships across the public and private sectors to advance research, development and the commercialization of new ideas. By working alongside innovators, investors and industry organizations, FCC is helping bring emerging technologies and business models to market, reinforcing Canada’s position as a global leader in agriculture and food innovation.
A critical part of that work has been strengthening how we support business transitions. In 2025-26, FCC launched an enhanced Transition Loan, designed to help address the transfer of assets expected in the Canadian agriculture and food industry over the next decade. The enhanced product makes it easier for both buyers and sellers to navigate ownership change by offering greater flexibility and clearer financing options during generational and business transitions. This reflects what we consistently hear from customers: that well‑planned transitions are essential to preserving family operations, sustaining productivity and ensuring long‑term industry resilience.
Through initiatives such as the Partnership for Agri‑Food Innovation and Research, FCC continues to support applied research and innovation that delivers practical benefits for producers. Through these efforts, in 2025-26, FCC committed $1.9 billion toward initiatives that support long‑term industry strength and shared prosperity. We also strengthened our support through targeted incentive programs and enhanced transition financing, approving $140 million in Transition Loans since enhancement.
External conditions matter, and so do the choices we make. Transparency, discipline and adaptability are essential to maintaining trust with our customers, our Board and our shareholder.
Operational discipline remains central to how we deliver value. Our strong efficiency ratio reflects our team’s continuing work to streamline processes, modernize systems and focus resources where they have the greatest impact.
None of this work happens without our people. FCC’s employees bring deep expertise, care and commitment to their roles every day. We have continued to invest in leadership, culture and organizational capability, because a strong FCC depends on engaged, supported people.
Looking ahead, the pace of change in agriculture will accelerate. This annual report reflects where we’ve been and where we’re headed. I’m proud of what FCC accomplished this past year and confident in our ability to continue supporting Canadian agriculture through what comes next.
I’m very grateful to our Board of Directors for their support, to our employees for their dedication, and to our customers and partners for the trust they place in FCC every day.
Sincerely,
Justine Hendricks
President and CEO
Farm Credit Canada