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| Agricultural Credit Corporation (ACC) has appointed AJ Gill and Brodie Berrigan to its Board of Directors. This decision, made at the 2024 Annual Meeting, aligns with ACC's mission to enhance leadership and support for Canadian farmers. AJ Gill, a Partner at MNP and Director of Agriculture Risk Management Resources, has a notable history with federal and provincial governments and community organizations. Brodie Berrigan, Director of Government Relations and Farm Policy at the Canadian Federation of Agriculture, has extensive experience in federal departments and policy advocacy. Their addition to the board is expected to bring innovative ideas and strong advocacy for the agricultural community. ACC, established in 1992, is a not-for-profit that provides low-cost operating loans to Canadian producers, with a significant track record in supporting the agricultural sector.
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| Today, the Honourable Lawrence MacAulay, Minister of Agriculture and Agri-Food, announced that the interest-free limit of the Advance Payments Program has been set at $250,000 for the 2024 program year. This is the portion of advances on which the Government of Canada pays the interest on behalf of producers.
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| In recognition of the significant financial challenges facing Canadian producers, the Minister of Agriculture and Agri-Food, the Honourable Marie-Claude Bibeau, today confirmed that the interest-free limit of the Advance Payments Program has been increased from $250,000 to $350,000 for the 2023 program year, effective May 8, 2023. This is the portion of advances on which the Government of Canada pays the interest on behalf of producers.
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| Dear valued customers, In order to ensure that ACC continues to leverage technology to the fullest extent, as of November 2022 ACC will be implementing a new loan software system for the 2023 program year. During this implementation we ask for your patience and support through this transition period. Thank you for your cooperation.
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