Farm Credit Canada (FCC) is offering support to customers in parts of the Prairies facing financial hardship as a result of widespread excessive moisture that has impacted the growing season, delayed harvest and reduced the quality of this year’s crop.
Areas within Alberta, Saskatchewan and Manitoba have experienced significant levels of rain in the last half of the growing season and snow since the beginning of October. The wet weather has significantly delayed harvest and reduced the quality of crops in those areas.
Although FCC customer support is being offered in specific locations, Canada’s leading agriculture lender offers flexibility to all customers through challenging business cycles and unpredictable circumstances on a case-by-case basis.
“FCC is the only financial institution entirely dedicated to agriculture – we stand by our customers throughout all business cycles,” said Michael Hoffort, FCC president and CEO. “This year’s wet weather in parts of Alberta, Saskatchewan and Manitoba has certainly been challenging for many farmers whose crops have been affected by excessive moisture. We want to assure them that we understand their situation and will help them through any financial hardship this has created.”
FCC will work with customers to come up with solutions for their operation and will consider deferral of principal payments and/or other loan payment schedule amendments to reduce the financial pressure on producers impacted by wet conditions. Customers in Alberta, Saskatchewan and Manitoba are encouraged to contact their FCC relationship manager or the FCC Customer Service Centre at 1-888-332-3301 to discuss their individual situation and options.
