(907) 276-2007

Alaska Commercial Fishing and Agriculture Bank

Financing Alaskan Owned Businesses Since 1980

 

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.

Staff

Katie Behm

Robert Clark

Nicole Feriani

Jake Hanson

Lela F. Klingert

Deborah Lovvorn

Chris McGee

(Contractor)

Amy Wenzel

Steve Worley

Board of Directors

CFAB is governed by a board of eight Directors, a majority of which are elected from the members and two 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: 2021

Doug Glenn

Palmer, Alaska

 

Vice-Chairman | Elected Agriculture

Term Expires: 2019

Dustin Connor

Petersburg, Alaska

 

Secretary-Treasurer | Elected At-Large

Term Expires: 2020

Stosh Anderson

Kodiak, Alaska

 

Elected At-Large

Term Expires: 2021

Paula Cullenberg

Anchorage, Alaska

 

Elected At-Large

Term Expires: 2021

Adam Galindo

Anchorage, Alaska

 

Appointed

Term Expires: 2020

Jim Hubbard

Seward, Alaska

 

Board-Appointed

Term Expires: 2019

In Memoriam

CFAB Chairman Bruce Gabrys passed away on January 30, 2019 in Eagle River, AK.

Bruce was appointed by CFAB’s Board in June of 2012 and then elected later that year. He served as CFAB’s Chairman from 2014 until his passing in January. While Bruce was only on our board for a few years, his involvement with the fishing industry spanned much longer and was multi-faceted. He personally commercially fished in Cook Inlet for several years, did tax work and estate planning work for numerous fishers, and volunteered with the Young Fisherman’s Summit providing much needed business and tax advice to the up and coming fisherman. Never at a loss for words Bruce was very generous with his time and was dedicated to CFAB and the Commercial Fishing Industry.

Former CFAB Director Bob Scott passed away on February 11, 2019 in Kenai, Alaska.

Bob was appointed to CFAB’s Board by then Governor Frank Murkowski and served until he retired in 2012. Through his ownership of Salamatof Seafoods, Bob had been a member and supporter of CFAB since 1986. Bob was a quiet Director, preferring action to words. While you may not have encountered Bob directly you likely benefitted from some of the work, he did behind the scenes over the many years he was a part of the fishing industry. Bob was a dedicated director and for many years prior to his time on CFAB’s Board and for many years after he retired he provided much valued insight to us and our members.