This organization's purpose is to enhance rural Canada by providing specialized and personalized financial services to farming operations, including family farms. Although once exclusively a farm lender, FCC is now also organized to provide funding to enterprises that are closely related or dependent on farming. Its small and medium business focus is shown by its average loan disbursement of $163,649 (As of March 2014[update]).
FCC was established in 1959, under the Farm Credit Act, at that time solely to provide loans to farmers. It succeeded the Canadian Farm Loan Board, which had been in operation since 1929.
On April 2, 1993, Parliament passed the Farm Credit Corporation Act which then allowed the organization to expand beyond straightforward farm loans – to finance on-farm diversification projects and value-added agricultural operations beyond the "farm gate". In June 2001, the Farm Credit Canada Act changed FCC's name to Farm Credit Canada or Financement agricole Canada (FAC) in French.
FCC is one of Canada's many Crown corporations; they report to the Parliament of Canada through the Minister of Agriculture and Agri-Food. The corporation's board consists of up to 12 members, all appointed choices that require the approval of the governor-in-council. This control board regularly meets in the corporation's head office, which is located in Regina, Saskatchewan. FCC has over 2200 employees, and six regional offices and more than 100 field and district offices across the country, primarily in rural Canada (as of March 2014).
FCC can fund and deliver joint programs and services with federal agencies, provincial governments and other term lenders. FCC’s operations are funded primarily through FCC Bond offerings, structured notes, institutional short-term notes, long-term programs and institutional debt. It raises money on the domestic and international markets.
The product portfolio for FCC includes a variety of intermediate and long-term loans, with amortization periods as long as 29 years. As of March 2014, the corporation had a loan portfolio of 149,130 loans, with a total value of $26,205 million.[3] As per the FCC annual report 2019-20, the total value of the corporation's loan portfolio is $38.6 billion.[4]
Referencesedit
^"Reasons for Selection, 2009 Canada's Top 100 Employers Competition".
farm, credit, canada, known, farm, credit, corporation, until, 2001, canada, largest, agricultural, term, lender, company, typecrown, corporationindustryfinancial, servicespredecessorcanadian, farm, loan, boardfounded1959, years, 1959, headquartersregina, sask. Farm Credit Canada FCC known as Farm Credit Corporation until 2001 is Canada s largest agricultural term lender Farm Credit CanadaCompany typeCrown CorporationIndustryFinancial servicesPredecessorCanadian Farm Loan BoardFounded1959 65 years ago 1959 HeadquartersRegina Saskatchewan CanadaNumber of employees2 200 2023 Websitewww wbr fcc fac wbr ca This organization s purpose is to enhance rural Canada by providing specialized and personalized financial services to farming operations including family farms Although once exclusively a farm lender FCC is now also organized to provide funding to enterprises that are closely related or dependent on farming Its small and medium business focus is shown by its average loan disbursement of 163 649 As of March 2014 update Contents 1 History and governance 2 Structure and functions 3 References 4 External linksHistory and governance editFCC was established in 1959 under the Farm Credit Act at that time solely to provide loans to farmers It succeeded the Canadian Farm Loan Board which had been in operation since 1929 On April 2 1993 Parliament passed the Farm Credit Corporation Act which then allowed the organization to expand beyond straightforward farm loans to finance on farm diversification projects and value added agricultural operations beyond the farm gate In June 2001 the Farm Credit Canada Act changed FCC s name to Farm Credit Canada or Financement agricole Canada FAC in French In October 2008 Farm Credit Canada was named one of Canada s Top 100 Employers by Mediacorp Canada Inc and was featured in Maclean s newsmagazine Later that month Farm Credit Canada was named one of Saskatchewan s Top Employers which was announced by the Saskatoon StarPhoenix and Regina Leader Post newspapers 1 In December 2008 Farm Credit Canada was named one of Report on Business Magazine s Top 50 Employers in Canada featured in The Globe and Mail newspaper 2 Structure and functions editFCC is one of Canada s many Crown corporations they report to the Parliament of Canada through the Minister of Agriculture and Agri Food The corporation s board consists of up to 12 members all appointed choices that require the approval of the governor in council This control board regularly meets in the corporation s head office which is located in Regina Saskatchewan FCC has over 2200 employees and six regional offices and more than 100 field and district offices across the country primarily in rural Canada as of March 2014 FCC can fund and deliver joint programs and services with federal agencies provincial governments and other term lenders FCC s operations are funded primarily through FCC Bond offerings structured notes institutional short term notes long term programs and institutional debt It raises money on the domestic and international markets The product portfolio for FCC includes a variety of intermediate and long term loans with amortization periods as long as 29 years As of March 2014 the corporation had a loan portfolio of 149 130 loans with a total value of 26 205 million 3 As per the FCC annual report 2019 20 the total value of the corporation s loan portfolio is 38 6 billion 4 References edit Reasons for Selection 2009 Canada s Top 100 Employers Competition ROB Magazine s Top 50 employers in Canada Archived from the original on 2009 06 02 https www fcc fac ca fcc about fcc corporate profile reports annual reports annual report 2013 14 pdf bare URL PDF https www fcc fac ca fcc about fcc reports ar ra 2019 20 e pdf bare URL PDF External links editFCC Home Page bilingual Retrieved from https en wikipedia org w index php title Farm Credit Canada amp oldid 1215972023, wikipedia, wiki, book, books, library,
