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News and Views
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CFAB Scholarships Winners
Announced.
Congratulations to the recipients of the CFAB
Scholarship Fund, Inc. 2012 scholarships:
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Zackary Aspelund* |
Naknek |
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Cody Clark* |
Soldotna |
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Kari Jean Gilman |
Cordova |
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Shane Hautanen* |
Anchorage |
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Eric Hill |
Naknek |
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Amanda Israelson |
Yakutat |
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Angela Johnson |
Nelson Lagoon |
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Katelyn Jane Reeves |
Wrangell |
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Dylan Spargo |
Wasilla |
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* Also a 2011 Winner |
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We are pleased to award a $2,500 scholarship to each of this fine
young individuals. They represent a wide cross section of our
state and their achievements were inspiring.
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CFAB REDUCES IT'S INTEREST RATE!!!
CFAB's Board of Directors at its November 17, 2011 meeting approved
Management's recommendation to lower CFAB's base rate* by
2% effective January 1, 2012. This 2% reduction will be
applied automatically to all open loans effective January 1, 2012.
(*The base rate is the rate charged in addition tot he interest
rate spread which is based on collateral and specific credit risk.
The base rate is essentially our "prime rate.")
While the
patronage paid by CFAB these past several years served to
retroactively reduce the cost of borrowing to our members, this
lowering of the interest rate will provide an immediately reduction
in borrowing
costs.
- Introducing CFAB SERVICES.
CFAB is please to introduce CFAB Services. CFAB Services will
offer vessel documentation permit and quota transfer filings and
similar services requiring preparation of documents. These
services are available to members and non-members. For more
information contact Becky Smith,
Documentation Specialist.
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Alaska Young Fishermen's Summit.
CFAB was pleased to
participate again in the Young Fishermen's Summit in February in
Juneau. In addition to sponsoring two young fishermen to
attend, CFAB sponsored a half day seminar on non-profit boards and the role of board membership. The Young
Fishermen's Summit is held every other year. Visit the
Marine Advisory Program web site
for more information.
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Global Food Alaska 2011.
CFAB once again was proud to be a sponsor for the 2011
Global Food Alaska conference and trade show which was held in
Soldotna, Alaska, June 8 and 9. This biennial event provides
Alaskan producers of commercial food, beverage and bioproducts an
opportunity to market their products to buyers-local, regional,
national and international-from retail, restaurant, food service,
gift and manufacturing concerns. There are also opportunities to
partner with supply chain partners to find better ways to get their
product to market.
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Now Offering Loan Terms Up to 20
Years. Beginning in 2011, CFAB will be offering borrowers
loan terms for up to 20 years. The actual loan term for any
given loan is always based upon the analysis of the specific
request. When applying be sure to discuss loan term options
with your loan officer.
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CFAB Members Approved a Revision to
Articles of Incorporation — The First Since 1987. CFAB is
pleased to announce the proposed revision to the Articles of
Incorporation was approved by the members at the annual
meeting November 19, 2010, and January 5, 2011. The proposal
was two years in preparation and technical in nature, but provided
important clarification for specific sections. The support and
involvement of the membership is what makes the cooperative strong
and is greatly appreciated. In conducting the meeting a number
of door prizes were awarded. For a list of the winners,
click here.
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Fishing industry resurgence has CFAB
busy.
Read more in "Hot Boat Market Swells Demand for Loans" in the
Fishermen's News.
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Governor Declares CFAB Day. Governor Sean Parnell
declared September 16, 2010, Alaska Commercial Fishing and
Agriculture Bank Day, citing, "CFAB stands out as a successful
model of what can be accomplished through cooperation between public
and private entities working to accomplish mutual goals."
Read the Governor's
entire Proclamation.
September 16th was a day to commemorate 30 years of quality
service to Alaskan businesses with an Open House to thank those who
have been a part of our success and to mark the completion of our
new office headquarters at 3040 Lakeshore Drive. More detail
is found in the
Bristol Bay
Times.
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CFAB Forges New
Lending Partnerships. CFAB has recently received authority as
an authorized lender from two separate Federal Entities, the US
Export-Import Bank (EXIM) and the US Department of Agriculture
(USDA) Business and Industry guaranteed loan program. CFAB is
the only Alaska lender who has been certified by EXIM bank.
These new collaborations will aid in providing commercial loans to
exporters as well as businesses operating in rural Alaska.
Contact us to learn
how we can partner with you to grow your business.
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CFAB Opens Own Building.
Physical Address: 3040 Lakeshore Drive,
Anchorage, Alaska 99517 (across from Lake Hood, near the
intersection of Spenard Road and Wisconsin)
Mailing
address, phone, and fax:
P. O. Box 92070, Anchorage, AK 99509
907.276.2007 or Outside Anchorage 800.544.2228 (phone)
907.279.7913 (fax)
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