This program is part of the Government of Canada's Growing Forward initiative. It is focused on helping agricultural producers manage small income declines. When you set up an AgriInvest account, you can deposit up to 1.5% of your Allowable Net Sales (ANS) each year and receive matching government contributions.
In addition to these matching funds, the AgriInvest account:
Individuals, co-operatives and corporations are eligible if they have reported farming income (or loss) to the Canada Revenue Agency for tax purposes. Status Indians farming on reserves in Canada are also eligible for AgriInvest. Eligible commodities include most primary agricultural commodities except those covered under supply management (dairy, poultry and eggs).
Setting up an AgriInvest Account
To open an AgriInvest account at Raymore Credit Union, you will need to complete an original, signed, Agriculture and AgriFood Canada (AAFC)-issued, AgriInvest Account Initiation Form. Once we receive that form from you, we will notify Agriculture and AgriFood Canada (AAFC) that you've opened an account and any existing AgriInvest funds will be transferred to your new account.
You will receive a Deposit Notice outlining your deposit amount for the year. You can deposit any amount up to your Maximum Matchable Deposit by the deadline indicated on your notice. After you make your deposit, your account will be credited with matching government contributions.
Your account is self-managed. You have the flexibility to withdraw from your account at any time through Raymore Credit Union.
To learn more about AgriInvest: