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!
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.
To be the PREMIER LENDER to the commercial fishing, agriculture, timber, tourism and resource based industries of Alaska.
To provide prompt, courteous service and financing customized to meet the specific needs of our borrowers.
For more information, please visit the Alaska Commercial Fishing and Agriculture Bank website at https://www.cfabalaska.com/.
The CFAB Scholarship will provide an award for up to 6 students at up to $2,000. Recipients of the scholarship award may reapply for a renewed scholarship each year, up to 3 years.
- Applicant must be under the age of 26 and an Alaska resident.
- Must be a child, descendant, or spouse of the Alaska Commercial Fishing and Agricultural Bank (CFAB) member or employee or a principal of a CFAB member at the time the application is made and at the time the scholarship
money is awarded.
- Must plan to be a candidate for a degree (or for issuance of a certificate which verifies satisfactory completion of all required courses, training, and testing at an institution that does not issue degrees) at an accredited college, trade school, apprenticeship, or vocational-technical school.
Applicants are asked to provide:
- High School/GED background
- Leadership potential and community service; this includes any family-owned or family related activities
- Employment or Academic References
- Employment or Academic Letters of Recommendation
- Education and Employment History
IMPORTANT: Successful applicants must submit their college or university student ID number and program information to ACF through the online system before their award can be disbursed. If we do not receive the above information by June 30, 2023, the scholarship may not be awarded. Please contact ACF if you cannot send in the information by this date.