Farmers are our business.
Loans are available to provide funds to farming clients for specific purchases, operating purposes or other cash flow needs. Repayment terms are tailored to meet your farming needs, providing you with flexibility and convenience.
This deposit account is designed specifically for Agricultural Members who are eligible(1) to participate in the AgriInvest program.
(1) Note: In order to open this account, you must produce an original, signed, AgriInvest Account Initiation Form, issued by Agriculture and Agri-Food Canada (AAFC).
Ag Chequing Account
We offer chequing accounts to assist you with the day to day transactions of your agriculture business.
Choose from three farm plan options. This allows you to pick the plan that best suits your farming operation.
Revolving Credit (Line of Credit)
A Revolving Credit (Line of Credit) is linked to your chequing account and provides temporary protection for the payment of a cheque when there is not sufficient money in your account. The approved limit is structured to your income and/or business needs. There is no need to phone to access your Revolving Credit; it is always available. You’re in control of your account. It’s a wise money-management move that can maximize your purchasing power.
Agriculture Operating Loan
Agriculture Operating Loans are available to farm operations to borrow up to the determined limit without the need to arrange separate loans.
Agriculture Term Financing
Agriculture Mortgage and non-mortgage term financing is available for the acquisition of assets, land, buildings, equipment and vehicles to be used for agriculture purposes. Government Guaranteed Loans are also available to increase your financing options.
Farm Equipment Leases
Porcupine Credit Union is partnered with Calidon Leasing to offer leasing programs for all types of farm equipment, including grain bins.
Family Loan Plan
The Family Loan Plan helps retiring farmers transfer farm assets to a family member.
The Credit Union finances the balance in a structured affordable manner. The financing makes it easier for the borrower while allowing the seller to reap the benefits of hard work over the years.
A Freedom Mortgage is available for agricultural producers to purchase land. It allows the freedom to make interest only payments over an extended period of time, and to prepay the mortgage with no penalty.
- Available for agricultural producers to purchase land.
- Allows the freedom to make interest only payments over an extended period of time.
- Offers the freedom to prepay the mortgage with no penalty.
Benefits to Members:
- Minimal payments over an extended period of time.
- Improved cash flow.
- No prepayments penalties saves on costs.
- Ability to own land at costs similar to renting land.
- Can be used to:
- Buy land on speculation.
- Increase land base while farming.
- Keep payments low until land/farm sold.
- Purchase land with minimal payments, allowing land to be brought to maximum production over time.