 The ARRC was the main administrative agency of the Matanuska Colony, a New Deal experiment that brought two hundred farming families into the Matanuska Valley.This resettlement of families also brought with it $200 million into southcentral Alaska between 1935 and 1941 at the height of the Great Depression.It was during this time that Cuddy became interested in the struggling bank, and began his long career in the banking business of Alaska.