AgriInvest

What is AgriInvest?

The AgriInvest program is part of the Government of Canada Growing Forward initiative, a savings account designed specifically for eligible agricultural members. The fund allows eligible farmers to use the funds in flexible ways to mitigate risks or improve their market income.

Maybe a farmer wants to expand and needs the money to purchase livestock. Or, maybe it’s a bad year and there is a crop failure.

AgriInvest is an interest-bearing, no-fee account, in which farmers deposit money and receive matching government contributions allowing them to save money.

How does AgriInvest work?

In order to take advantage of the AgriInvest program, you need to qualify. Qualification for the AgriInvest program is based on your income and expenses for that fiscal year. You can check whether or not you qualify by visiting the Government of Canada’s AgriInvest page.

After qualifying, you can electronically file the forms to the Canada Revenue Agency (CRA) online using EFILE. The CRA automatically sends your data to the AgriInvest program.

Once you’ve qualified, you will receive an AgriInvest Deposit Notice and Account Initiation Form. Bring this completed form to your local Kindred branch. From the date of your AgriInvest Deposit Notice, you have 90 days to open your business deposit account and make your AgriInvest deposit – so don’t delay!

What benefits are there to an AgriInvest account?

The Kindred AgriInvest account ensures your funds are secure and accessible, and this account comes with a host of valuable features:

• no monthly maintenance fee,
• a competitive rate of interest,
• Access to your account 24/7 through online banking or 24 hr ATM
• Get valuable advice from an experienced Kindred account manager

At Kindred, we understand farmers. With 60 years of commercial and agricultural banking experience, we’re here to help. To learn more about AgriInvest or open an account, meet with us or visit your local Kindred branch today.

For more details about the AgriInvest program, visit www.agr.gc.ca/agriinvest or call 1-866-367-8506.