Alaska Rural Rehabilitation Corporation

The Alaska Rural Rehabilitation Corporation ( ARRC ) was incorporated in 1935 under the laws of the territory of Alaska. It was founded as a non-profit organization under the direction of the Department of Interior and the Federal Emergency Relief Administration to administer the colony of 202 families being relocated from the mid-west. The participants in this relocation were allocated a house, 40 acres of land, necessary tools and equipment. The federal government provided loan money to enable the colonists to set up their farms and get established. ARRC administered those long-term, low-interest loans and became the entity for managing and operating the agricultural project on behalf of the United States Government. Once the federal loans were repaid, accrued interest remained in a revolving fund from which ARRC continued to make loans to farmers and others involved in agricultural pursuits.

First National Bank Alaska is one of the largest, full-service, locally owned financial institutions that serves the needs of individuals and businesses in Alaska. The community bank maintains more than 30 branches in over 15 communities in Alaska. It provides personal and business checking and savings accounts. First National Bank Alaska offers certificates of deposit and credit and debit cards. It works with a team of nearly 680 staff members. The bank offers treasury management and merchant services. First National Bank Alaska additionally provides wire transfer and night depository solutions. The bank is a member of the Federal Deposit Insurance Corporation.