The Advantages of Becoming an Active Member in One or More Industry Credit Groups
By Michael C. Dennis,
Some of the advantages of active membership in an industry credit
The security of knowing that a trained representative of the association
sponsoring the meeting will attend each meeting and ensure that
discussions do not stray into areas such as collusion and restraint
The structure that is provided by the credit association that
regularly schedules credit interchange meetings - and requires
members of the
group to attend a minimum number of these meetings as a condition
for continued membership.
Access to current information from your peers about mutual customers.
Specific information about how a particular customer pays creditors
in general, and companies in your industry in particular.
Meetings are a forum to vent your concerns and frustrations to
peers who understand the problems credit managers face, and who
may have suggestions or ideas that you can use back at work.
Many industry groups provide educational opportunities during
regularly scheduled group meetings. These might include a guest
speaker - or
be more elaborate such as breakout sessions dedicated to specific
topics of interest to credit professionals.
Credit groups provide an opportunity to network with your peers,
which makes it easier to contact them at a later date to request
a credit rating, or to ask for their advice or comments.
Most credit groups make time for and actively encourage socialization
between members before, during and after the mandatory meeting.
Reprinted with permission from the Covering
Credit Newsletter 7/24/02 Edition