QUOTA BANK

The Gulf of Mexico Reef Fish Shareholders’ Alliance launched the first Quota Bank in the Gulf of Mexico in 2015 to reduce red snapper discards in the eastern Gulf and to support the next generation of commercial red snapper fishermen. 2019 will mark our fifth year of operation. Here’s how it works:

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  1. The Quota Bank leases red snapper allocation to the following two groups of fishermen:
    • Eligible grouper fishermen that need red snapper allocation to cover some of their discards
    • Eligible “next generation” red snapper fishermen that are entering the fishery.
  2. In exchange for leasing this allocation, Members agree to hold themselves to a high standard of accountability and participate in program requirements including electronic reporting, Best Business Practices, participation in regulatory meetings, and joining the Shareholders’ Alliance.
  3. The Quota Bank is the only program of its kind in the Gulf of Mexico that is generating triple-bottom-line benefits for your fishery by:
    • reducing red snapper discards,
    • making fishing businesses more profitable,
    • supporting the next generation of fishermen, and
    • getting more fishermen involved in solving their management and regulatory problems.


2019 Quota Bank

If you’re interested in applying to be part of the Quota Bank in 2019, you may apply in one of two ways:

  1. Complete and submit an online application here.
  2. Download an application here, and submit electronically (e.g. scan and email) to eric@shareholdersalliance.org

Please ensure you review the Application and Agreement, and Operations Plan in its entirety to understand the changes to the program in 2019.

Applications will be accepted on a quarterly basis and processed four times per year. Applications may be submitted at any time prior to the quarterly deadline identified below:

  • January 15 for Quarter 1 (January 15 – April 14)
  • April 15 for Quarter 2 (April 15 – July 14)
  • July 15 for Quarter 3 (July 15 – October 14)
  • October 15 for Quarter 4 (October 15 – December 31)

The Board will review applications as soon as practicable after each quarterly deadline. Applications will be evaluated based on compliance with eligibility criteria, commitment to best practices, prioritization of gear and meeting attendance, allocation availability, and historical compliance with Quota Bank requirements (if applicable).

Please see the Frequently Asked Questions document for answers to some of the more commonly-asked questions. This document will be updated regularly.


For more information on the Quota Bank, check out these links:

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