Released on May 16, 2005
Representatives from charter banks, credit unions and Farm Credit Canada met with Agriculture and Food Minister Mark Wartman to discuss the state of the farm economy.Wartman regularly meets with agricultural lenders to hear their views on the agricultural situation in Saskatchewan, and particularly the state of agricultural financing in the province.
"We discussed the issues the lenders have with provincial and federal farm programs," Wartman said. "I asked about the ability of farmers to access production loans or lines of credit to put in the spring crop, and we discussed how livestock producers are coping with the continued border closure to live animals."
Wartman noted that he appreciates the ongoing support the lenders have demonstrated to the agricultural community despite the current industry challenges.
"While we recognize that there are current difficulties in the agricultural industry because of frost, low commodity prices and BSE, we continue to be flexible and work with our clients on an individual basis to do what we can to help them succeed in the long term," Canadian Bankers Association Western Region Director Paul Griffin said.
"Credit Unions have a major presence in rural Saskatchewan, and we will continue to work with our farm clients to the best of our ability," Credit Union Central representative Lyle Frick said.
"FCC has a great deal of faith in our customers," Farm Credit Canada Prairie Area Vice–President Clem Samson said. "We provided more than $3 billion in new financing to Canada's agriculture industry in the past year. Our country's producers, suppliers and processors are innovative, resilient and among the best business managers in the world. We're excited about the future of the industry, and we're in agriculture for the long run."
Wartman emphasized, the provincial government is committed to providing effective programming that meets the needs of producers across the province.
"We need to work closely with both producers and lenders to understand their views and to address their concerns through the creation of good policy and programming," Wartman said.
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For More Information, Contact:
| Scott Brown Agriculture and Food Regina Phone: (306)787-4031 | Jennifer Lomas Canadian Bankers Association Calgary Phone: (403) 263-1455 |
Janelle Lindsey Credit Union Central Regina Phone: (306) 566-1684 | Tim Kydd Farm Credit Canada Regina Phone: (306) 780-3486 |