About CFAB

  The Alaska Commercial Fishing and Agriculture Bank- CFAB- is a private member owned Cooperative created to meet the financing needs of the resident owned, commercial fishing, agriculture, tourism, and resource industries of Alaska.  With some minor exceptions you must be an Alaska resident to borrow from CFAB.

     Created by legislation that was introduced in the late 1970’s, CFAB opened its doors in April of 1980.  Originally funded with $32 million in seed money from the state of Alaska.  After making the final payment to the state in 1998 CFAB is now 100% owned by its members!

     While we have “bank” in our name, CFAB does not take deposits or have checking accounts.  Its primary purpose is to provide financing to those industries mentioned above.  Through the authority granted it in its governing statute, CFAB is the only private lender that can place a lien on an Alaska Limited Entry Permit. 

     We experienced some growing pains early on in our history, we learned from them, regrouped and refined our practices.  Today CFAB is a financially sound financing alternative for its current and future members, thanks to the dedication and commitment of its board, management, staff and membership.

     Our unique structure allows us the flexibility to treat our member/borrowers as individuals and to structure our loans to meet the specific needs of our borrowers.  CFAB, a unique success story born out of Alaska’s oil wealth put into motion through the foresight of industry leaders and the Legislature in the 1980’s.

Robert Clark

Jake Hanson

Douglas Blumer

Deborah Lovvorn

Amber Horton

Steve Worley

Choua Xiong

BOARD OF DIRECTORS

CFAB is governed by a board of seven Directors, five of which are elected by members and two whom are appointed by the Governor of the State of Alaska. All Directors serve 3 years in staggered terms with at least one Director representing the agriculture industry. CFAB’s annual election is held in the fall. To speak with a Director, contact CFAB’s Offices.

Douglas Blumer
Anchorage, Alaska
Chairman | Appointed
Term Expires: 2024

Dustin Connor
Petersburg, Alaska
Secretary-Treasurer | Elected At-Large
Term Expires: 2026

Doug Glenn  
Palmer, Alaska  
Vice-Chairman | Elected Agriculture  
Term Expires: 2025

Stosh Anderson
Kodiak, Alaska
Elected At-Large
Term Expires: 2024

Paula Cullenberg
Homer, Alaska
Elected At-Large
Term Expires: 2024

Adam Galindo
Anchorage, Alaska
Director | Appointed
Term Expires: 2026