AgriInvest is a program offered by Agriculture and Agri-Foods Canada (AAFC) to help producers protect their margin from small declines.
AgriInvest will benefit your financial institution by positioning your institution as a valued partner to the agricultural community whilst retaining and attracting customers who seek you out to provide AgriInvest and the other services you offer.
Financial institutions participating in the AgriInvest program are required to submit AgriInvest account activity reports to AAFC for all AgriInvest accounts. AAFC has chosen Central 1 as the reporting centre for the routing numbers it supports.
Implementing AgriInvest Reporting, provided by Central 1 is a necessary requirement for your financial institution to participate in the AgriInvest program offered by AAFC.
Once your customer has signed up to the AgriInvest program, you need to, on a semi-monthly basis, provide an account activity file to Central 1 containing the account balances and activity for all AgriInvest accounts at your financial institution.
This can be pulled from your banking system, or simply inputted into an Excel spreadsheet which Central 1 will provide you with. In addition, Central 1 will provide an AgriInvest Officer who will liaise between yourselves and AAFC.
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