Public policy role
FCC’s mandate is described in the Farm Credit Canada Act as follows:
The purpose of the corporation is to enhance rural Canada by providing specialized and personalized business and financial services and products to farming operations, including family farms, and to those businesses in rural Canada, including small and medium-sized businesses, that are businesses related to farming. The primary focus of the activities of the corporation shall be on farming operations, including family farms.
Our priorities reflect the federal government’s mandate to support agriculture and agri-food in a way that enables this vibrant industry to be a world leader in sustainable agriculture. Government priorities for the industry include advancing innovation and opportunities for under-represented groups in Canadian agriculture and agri-food; delivering products to facilitate intergenerational transfers and assist young and new farmers entering the industry; and working toward climate and sustainability goals, with agriculture and agri-food as a front-line partner.
FCC is a steady presence for agriculture and agri-food, supporting customers’ financing needs in good and challenging times. For example, we’ve developed customer support programs in response to hardships created by adverse weather conditions such as the flooding in Manitoba last spring and the devastation that occurred when Hurricane Fiona’s post-tropical storm winds hit the Atlantic provinces in September. We also launched a program in April to boost credit availability for producers purchasing inputs for the growing season.
FCC is evolving to support our customers’ needs through sustainability products and expansion of our advisory services offerings. We're providing new insights through benchmarking and enhanced software and smart farm investments that will set our customers up well for the future. We are also evolving and adding specific venture capital placements in agtech, women-led funds, and in support for under-represented groups.
We are committed to continuing to enhance our digital offerings that enable customers to manage more transactions remotely. We're engaging with customers and partners to develop new and enhanced digital processes that are simple and secure. In addition, we are working to simplify internal processes and increase speed of service to our customers and to enhance mental health services to support those involved in Canada’s agri-food system.
We continue to work collaboratively with the Government of Canada through Agriculture and Agri-Food Canada to evolve our strategies to support shareholder priorities and the needs of the agriculture and agri-food industry.
FCC provides access to capital by delivering a wide range of financial and business products and services tailored to the industry’s unique needs. Access to capital allows primary producers and agribusiness and agri-food operators to adopt innovative practices and business models that enable them to expand, lower their production costs, develop new products, compete in global markets and take advantage of trade opportunities.
Canadian producers and agribusinesses benefit from a choice of financing options. We partner with Canadian financial institutions and credit unions to provide financing for larger agriculture operations and agribusinesses. We continue to grow our venture capital program through increased investment in new external funds managed by independent third-party investment professionals, as well as provide program support to agriculture and agri-food-focused accelerator programs. This commitment to venture capital ensures alternative financing products and business expertise, mentorship and ecosystem support are available to help the Canadian agriculture and agri-food industry innovate, grow and thrive.
Our ongoing strength and stability allow us to serve agriculture through all economic cycles. We continue to reinvest FCC’s profits into agriculture through increased lending to customers and by developing knowledge, products and services to meet our customers’ needs.
We believe sound financial management is key to successful agriculture and agri-food operations. To help advance producers’ business management capabilities, FCC continues to offer a variety of virtual learning events, multimedia tools, publications and other resources to our customers and the industry. Producers of all ages and in all sectors can access our resources free of charge. Our employees have the appropriate knowledge and tools to provide solid insights and expertise to our customers to help them achieve their goals.
Our events feature speakers who inspire, inform and introduce new ways of thinking about agriculture and food. In November, we hosted a series of Young Farmer Summits across Canada.
AgExpert, our accounting and farm management software, includes cloud-based tools that enhance our customers’ ability to manage their businesses, meet consumer demands and digitize their farm records. In addition, FCC created a new mental health publication and other resources through our website to help customers, employees and the public care for their families and themselves.
The next generation is important to the ongoing growth and success of Canada’s agriculture and agri-food industry. FCC proudly supports these enthusiastic, hard-working people by offering products and services such as the Starter Loan, Transition Loan, Young Farmer Loan and Young Entrepreneur Loan.
Our aim is to help young people enter the industry, assist them with intergenerational transfers of operations, provide them with valuable knowledge and help grow their businesses.
FCC partners with Export Development Canada and Business Development Bank of Canada to support innovation and access to international markets for Canadian agribusiness and agri-food operators. Our employees and their counterparts at Agriculture and Agri-Food Canada connect on a range of topics important to the agriculture industry, including farmland values, commodity prices and interest rates.
Our strong financial position enables us to provide innovative, industry-focused products and services and to ensure producers and agribusiness and agri-food operators have choice in the marketplace.
FCC supports events and meetings hosted by industry, stakeholder and producer groups, and we share knowledge and solicit input on issues facing the industry today and in the future. We also lead Canada’s largest agriculture-focused research panel, called FCC Vision. FCC Vision enables its members to share their ideas and opinions about Canadian agriculture and how FCC can best serve this exciting, growing industry.
FCC carefully balances the resources needed to support a growing enterprise while controlling costs and increasing efficiencies. This allows us to deliver on our public policy objectives and sustain our ability to serve agriculture and agri-food in the years to come.
FCC is committed to supporting our customers with innovative knowledge, tools and finance offerings to encourage the adoption of sustainable practices. We are building an environmental, social and governance (ESG) practice to guide how we operate that is integral to our corporate values. Our enhanced ESG governance considers integrity and data security as fundamental practices in our organization. We assess and manage risks and opportunities created by any changing conditions in response to environmental and societal impacts.
We consider gender-based analysis plus (GBA+) for the sector and support women in agriculture, young people in agriculture, Indigenous agriculture operators, mental health and diversity. We believe our activities are consistent with the Government of Canada’s commitment to securing greater social and economic inclusion for women, Indigenous Peoples and people of diverse backgrounds and ages.
We will continue to explore new opportunities to fulfil our mandate while addressing the unique and diverse needs of the industry we serve.
As a federal Crown corporation, FCC is committed to making a difference in the lives of Canadians by supporting a strong, vibrant and sustainable Canadian agriculture and agri-food industry, which in turn supports a strong, food-secure and sustainable Canada.
By achieving our mandate through the provision of specialized products, advisory services, knowledge and support to Canadian producers and agribusiness and agri-food operators, FCC serves as a trusted partner. We enable the industry to continue to create good jobs and opportunities in rural communities across the country, and to drive the Canadian economy. For a summary of the results we delivered in the 2022-23 reporting year, along with expected outcomes, key performance indicators and targets, refer to the Strategic Overview, Objectives and Planned Results section.