Farm Credit Canada (FCC) had another strong financial performance in 2017-18.

The federal crown corporation grew its portfolio by 8.4 per cent to $33.9 billion, including $3.3 billion in new lending to young farmers.

“Agriculture and agri-food remains one of the strongest and most vibrant sectors in Canada’s economy,” said FCC president and CEO Michael Hoffort, in releasing FCC's annual report. “FCC had record demand for financing this past year as producers and agriculture business operators continue to invest in the industry by expanding their businesses, building new facilities and adopting technologies to increase their efficiency.”

FCC gave back almost $4 million through community investment initiatives. Heading forward FCC plans to launch initiatives to advance mental health awareness in agriculture, developing financing and business support for women entrepreneurs, and exploring ways to involve more indigenous people and communities in the industry.

The organization reported a net income of $669.9 million last year, which will be reinvested in agriculture through funding new loans and developing agriculture knowledge, products and services for customers.

The FCC annual public meeting will be held in Truro, Nova Scotia on August 22.