Associations Are Even More Valuable during Recessions

By Mignini, Paul J., Jr. | Business Credit, April 1992 | Go to article overview

Associations Are Even More Valuable during Recessions


Mignini, Paul J., Jr., Business Credit


Most credit professionals and their companies are under tremendous pressure during recessions. Although risk management is ever present, it is even more critical during tough economic times than it is during times of expansion.

No doubt, we are all troubled by what we see and read every day about the economy, layoffs, and failing businesses. More disturbing, perhaps, are reports that many individuals are dropping some of their memberships, possibly as a reaction to the economic downturn. It is as if all the bad news is affecting people's good judgment.

A recent Kiplinger Letter, for example, indicates that many individuals and companies are considering not renewing their memberships in associations because they think their are saving their companies money.

But this is a false economy of the worse kind. In good times or bad, membership in associations is one of the best investments you can make. Membership in NACM is an investment in your career and your company's bottom line.

Think of all the ways you and your company have benefited from NACM membership just within the past year. The skills and contacts with other credit professionals you have gained through participation in conferences, seminars, industry groups, and credentialing programs alone more than pay the price of your membership.

Think of the vast savings your company has realized through your use of credit reports, collections, or other services available to you at special group rates because of your NACM membership. Consider information you may have gained from another member or a new method you may have read in an NACM publication or Business Credit. …

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Associations Are Even More Valuable during Recessions
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