The Credit Research Foundation (CRF) was chartered in 1949 to focus on the needs of education and research for the credit profession. It is the only non-profit organization of its kind.
CRF Is Educational Affiliate of NACM
CRF became affiliated with the National Association of Credit Management (NACM) in 1949. It was the educational arm of NACM but later split in 1987 due to managerial disputes. However, CRF became reaffiliated with NACM in 1989 after a joint group membership committee voted to restore the alliance. There is a written contract which states that CRF is the conducting, running, and operating education affiliate of NACM. CRF is in charge of all educational programs and activities for NACM.
"We have seen a change in the perception and reception of both memberships since the re-affiliation," says Robert Thompson, president and chief operating officer of CRF. "There is an improvement of participation in the educational undertakings. I feel very optimistic about the future of our educational programs."
Thompson is a retired assistant treasurer of the American Can Company where he worked for 29 years. He remained active with CRF on an elected basis throughout his career. In 1988 he served as the interim president of NACM until November 1989 when he took over the presidency of CRF. Thompson is responsible for overseeing all of the foundation's activities and reports to the Board of Trustees.
Education Gives Fundamental Knowledge
Maurice H. Margotta, Jr. is the vice president of CRF and director of education. He was a corporate credit manager for 10 years at Litton Industries and was an adjunct professor at the University of Hartford where he received an award for teaching excellence. Margotta joined CRF in 1985 and received his doctorate degree in management education in May 1989 from Columbia University. he has just recently been nominated for "Who's Who in American Education."
Margotta is responsible for all of CRF's education programs in the United States. He is in charge of the credentialing programs which confer the professional credit designations of CBA (for the supervisory level), CBF (for the managerial level), and CCE (for senior management level). His book, Credit Management Review, was published in 1987 to help applicants prepare for the exams.
The designations were once offered haphazardly, but in September 1988, the NACM Board voted to reform the system to provide benchmarking and now one designation stands as a prerequisite to the next.
"The objective of these designation is to assure employees, customers, and fellow designation holders that they have the fundamental knowledge to fulfill position requirements," Margotta says.
In addition, CRF also provides four formal educational programs for NACM. The Credit Management Leadership Institute is offered each fall at Baylor University; the Mid-Career School is offered spring and fall at Pine Mountain Conference Center, GA; the Advanced Credit Executive Studies is offered once a year also at Pine Mountain; and the Graduate School of Financial Management is offered once a year at Dartmouth University, but will return to Stanford University in 1992 at which time there will be two campus locations. …