FCC supports Alberta and Saskatchewan customers impacted by dry weather

FCC supports Alberta and Saskatchewan customers impacted by dry weather

Edmonton, Alberta – Farm Credit Canada (FCC) is offering support to customers in parts of Alberta and Saskatchewan facing financial hardship as a result of dry conditions.

Alberta and some areas of Saskatchewan have experienced drastically reduced levels of rainfall since April 1. Some areas of Alberta are experiencing some of the driest soil moisture conditions of the past 50 years.

“We stand by our customers over the long-term, helping them pursue opportunities and overcome challenges, and this year’s dry weather in parts of Alberta and Saskatchewan has certainly been challenging for many farmers and agricultural business owners,” said Michael Hoffort, FCC president and CEO.

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 dry conditions. FCC will also expand the program to include customers in other areas if and when the need arises.

Customers in Alberta and Saskatchewan 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.

“These kinds of extreme dry conditions, in some cases for the second year in a row, can cause financial challenges for farm operations – not to mention personal hardship and stress,” Hoffort said. “People need support and as a leader in financing to Canadian farmers, we have a unique responsibility to step up and help.”

FCC is Canada’s leading agriculture lender, with a healthy portfolio of more than $27 billion and 21 consecutive years of portfolio growth. FCC is strong and stable – committed to serving the industry through all cycles, and to being socially and environmentally responsible. FCC provides financing, insurance, software, learning programs and other business services to producers, agribusinesses and agri-food operations. Employees understand agriculture and are committed to the success of customers and the industry. With FCC in the market, producers benefit, agriculture benefits, rural Canada benefits and so do all Canadians. For more information, visit www.fcc.ca. Follow Farm Credit Canada on Facebook, LinkedIn, and on Twitter @FCCagriculture.

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For more information, photos or interviews, contact:

Éva Larouche
Corporate Communication
Farm Credit Canada
1-888-780-6647
eva.larouche@fcc.ca