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Most Canadians have never heard of Farm Credit Canada (FCC).

CHARLEBOIS: Farm Credit Canada needs new mission — and more transparency Back to video

FCC is one of Ottawa’s largest financial institutions. It’s a crown corporation that belongs to all Canadians. It manages a loan portfolio approaching $60 billion, lends more money to agriculture than any other institution in the country and has generated roughly $5.6 billion in cumulative net income over the past decade. Yet outside agricultural circles, it remains virtually invisible. Perhaps that’s because few Canadians realize they ultimately stand behind the risks FCC assumes as a Crown corporation.

When FCC was created nearly 70 years ago, its purpose was obvious. Agriculture was considered too risky for conventional lenders, leaving many producers with limited access to affordable capital. A specialized public lender filled an important financing gap. That world has changed dramatically. Every major chartered bank now has sophisticated agricultural lending teams. Credit unions have expanded aggressively into farm finance, while private lenders have become increasingly active.

Canadian agriculture is certainly not without financial challenges, but access to capital is no longer the structural problem it once was. That naturally raises a legitimate question: is FCC still correcting a........

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