As Canadian farmers bring in the harvest, they will immediately turn to planning
for next year’s crop. But besides preparing the fields, Canadian farmers can
now take advantage of the government’s specialized investment tool, AgriInvest,
at their local financial institution.
“AgriInvest gives farmers peace of mind and helps to ensure they are able
to make their financial commitments, even if they have a difficult growing season,”
says Peter Hambly, Senior Director and Regional Manager for Meridian Credit Union’s
Commercial Services in Grey-Bruce.
AgriInvest, administered by Agriculture and Agri-Food Canada, assists farmers by
providing supplemental funds to those facing difficult economic years. Unlike a
traditional RESP, farmers’ tax-free contributions are met by matching government
funds. Once opened, these funds earn a competitive rate and can be used at any time.
“It’s great to see both our federal and provincial governments strongly
supporting our farming sector,” continues Hambly, “this is a fantastic
program I actively promote to my agricultural Members.”
The penalty-free deadline for the government application is due September 30.
To learn more about opening an account and making contributions visit Meridian Credit
Union and visit the government’s website at www4.agr.gc.ca.
For more information contact:
Scott Windsor
Vice President — Corporate Communications
Meridian Credit Union
416-597-4444 ext. 2668
scott.windsor@meridiancu.ca
