(907) 276-2007

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

Robert Clark

Jake Hanson

Lela F. Klingert

Deborah Lovvorn

Kelly Sleeper

Steve Worley

Choua Xiong

Travis Frisk

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: 2022

Dustin Connor

Petersburg, Alaska

Secretary-Treasurer | Elected At-Large

Term Expires: 2023

Stosh Anderson

Kodiak, Alaska

Elected At-Large

Term Expires: 2021

Paula Cullenberg

Anchorage, Alaska

Elected At-Large

Term Expires: 2021

Adam Galindo

Anchorage, Alaska

Director | Appointed

Term Expires: 2023

Jim Hubbard

Seward, Alaska

Elected At-Large

Term Expires: 2022