Alaska CFAB Scholarship

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

Created by legislation that was introduced in the late 1970s, 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 members/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 1980s.

The CFAB Scholarship Fund will award as many as five students with up to $1,000. Recipients of the scholarship award may reapply for this scholarship for up to 3 years.

Eligibility Criteria:

• 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 Agriculture 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 the following:

• 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