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NACM’s Credit Managers’ Index for August Remains at 56.8

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Credit consistency in the August economic report from the National Association of Credit Management provides reason to be optimistic about conditions for the rest of the year and should help quell fears of inflation.

Columbia, MD: August 29, 2014—Consistency is generally a positive development when the overall readings have been positive and this is the case for the August report of the Credit Managers’ Index (CMI) from the National Association of Credit Management, which posted no change from July’s 56.8. This marks five months of readings between 56 and 56.8 and given the volatility in the economy as a whole for this period, this stability in credit is a positive signal as far as the rest of the year is concerned.

“The August CMI reflects a more optimistic future, but not an economy that is likely to surge,” said NACM Economist Chris Kuehl, PhD. “In comparing this month’s reading to that reported by the Federal Reserve, it is easier to understand the optimism about the last half of the year, as well as the worry about the impact of inflation fueled by some of this growth.” Nearly all the index’s readings reflect that same stability, though there was noteworthy movement in both the favorable and unfavorable factor indices. Kuehl noted the same stability in various important data streams—capacity utilization between 78% and 79.7% over this period—just a little shy of what is considered normal. Stability also appears in terms of capital expenditure. “These measures stand in stark contrast to the wild gyrations in the overall growth rate as first quarter numbers were in recession territory at -2.1%, while the second quarter boasted a gain of over 4%,” Kuehl said.

NACM’s Credit Managers’ Index for July Reflects Improved Confidence, Rises to 56.8

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Columbia, Maryland: July 31, 2014—The Credit Managers' Index (CMI) from the National Association of Credit Management (NACM) improved to 56.8 from 56.1 in July. The readings for the favorable and unfavorable factor indices improved, from 62.4 to 63.7 for the favorable factor index, marking the highest point in over four years, and from 52.0 to 52.2 for the unfavorable factor index. The latter being below marks set earlier in the year, but is at least trending in the preferred direction.

"The overall sense is that real progress in economic recovery is being made and the future looks brighter," said NACM Economist Chris Kuehl, PhD about the July CMI report. "But, not to rain on the parade, these numbers also looked good at the start of the year, and it has taken until mid-summer to regain that momentum." Winter weather was partly responsible for this struggle, as was the significant decline in exports of American goods, Kuehl noted. "The rebound in exports played a major role in getting the US back to growth, but the caution is that many of those importing nations are still not in very good economic shape," he said.

Significant readings within the favorable factors promise better days ahead. Sales improved from 63.9 to 65.2, back to the level set in May. "The sales reading has been strong for some months and that bodes well as sales will underpin any kind of real progress in the months to come," Kuehl said. New credit applications improved from 61.5 to 62.4, the second straight month above 60 and at a yearly high. Dollar collections got back on track and crested above 60 again, moving from 59.3 to 61.0. Finally, amount of credit extended jumped dramatically from 64.8 to 66.1. "This is the highest reading since the recession and suggests far more credit access than before," Kuehl said. "This tracks with the data that comes from the Federal Reserve on bank lending in general and that is very solid news for the economy as a whole."

St. George Business Credit Professional, Angie Monroe, Honored as Student of the Year by NACM

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angie-monroeJuly 10, 2014: Columbia, MD—The National Association of Credit Management (NACM) honored Angie Monroe, CBA, of St. George, Utah as the 2014 NACM Student of the Year during the association's 118th Annual Credit Congress and Exposition, held in Orlando, Florida, June 8-11, 2014. Monroe is a credit analyst at Roofers Supply, Inc. of St. George, a family-owned and operated wholesale supplier of roofing products since 1994, selling to homeowners, contractors and commercial roofing companies.

Pursuing professional development in a post-recession landscape can be a challenge. For Angie Monroe, attending Stevens-Henager College, meant fulfilling her dream of earning her BA in Accounting in May. In the field of credit management, Monroe earned her NACM Credit Business Associate (CBA) in 2011. The CBA designation is NACM's initial professional certification. Individuals earn the CBA by successfully completing three business credit courses (Basic Financial Accounting, Business Credit Principles and Financial Statement Analysis) and then passing a related exam. Over the years, Monroe has also taken several continuing education courses. In Monroe's own words, "NACM is amazing and I love furthering my horizons. I could not have asked for a better experience. I've enjoyed the professional designation path. I've acquired a lot of knowledge and it's been a challenge."

Monroe's career in credit began in 2006 at Roofers Supply as a credit manager, moving up to credit analyst in 2010. She is a member of the Southern Utah Contractors & Building Trades Suppliers Industry Credit Group, serving as chairperson from 2011-2012. Her volunteering at the local level includes raising funds for cancer awareness and combating teenage drug problems.

Las Vegas Professional, Patrick Spargur, Honored As Mentor of the Year by the National Association of Credit Management

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patrick-spargurJuly 10, 2014: Columbia, MD—The National Association of Credit Management (NACM) honored Patrick Spargur, ICCE of Las Vegas, Nevada as the 2014 NACM Mentor of the Year during the association's 118th Annual Credit Congress and Exposition, held in Orlando, Florida, June 8-11, 2014. Spargur is credit manager at Global Experience Specialists, Inc. of Las Vegas, a worldwide event marketing company specializing in connecting people through live events.

Patrick Spargur is recognized for promoting continuing education and participation in his NACM affiliate, Credit Management Association (CMA) and in his industry trade association, the Gaming Credit Group where he served as group chair from 2011-2014.

"Patrick is willing to sacrifice his time, both work and personal, to teach and enhance the knowledge of his staff and peers in the profession of commercial credit," said Gent Culver, CICP, manager, credit and collections, Investor Relations and Treasury, International Gaming Technology. "He has an 'open door' policy, making himself available at all counsel fellow employees on life issues, helping them and guiding them through personal problems." Marcus Valerio, controller-Americas at Gaming Partners International USA, Inc. said that Spargur "goes out of his way to help with problems, questions and sometimes with general life issues."

Minneapolis Credit Professional, Jeffrey Hawkins, Garners National Honors

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jeff-hawkinsJuly 10, 2014: Columbia, MD—The National Association of Credit Management (NACM) honored Jeffrey Hawkins, CCE of Lauderdale, Minnesota as the 2014 NACM Instructor of the Year during the association's 118th Annual Credit Congress and Exposition, held in Orlando, Florida, June 8-11, 2014. Hawkins is the assistant credit manager at Ferguson Enterprises Inc. of Roseville, a diverse wholesale distributor of residential and commercial plumbing supplies including pipes, valves, fittings, and heating and cooling equipment, serving customers in all 50 states, Puerto Rico, the Caribbean and Mexico since 1953.

For many years, Hawkins has been an instructor and mentor for continuing education classes for Forius NACM North Central, an NACM affiliate. "Jeff's commitment to his students is evident in their successful accomplishment of attaining their CBA credentials," said Toni Nuernberg, CAE, CBA, president/COO of Forius NACM North Central. "Not only does he come to each and every class prepared, but he works between classes to respond to each student's questions or needs to assure everyone successfully completes the course."

"Jeff is passionate about teaching and is committed to his students," said Duane Schwartz, CCE, corporate credit and collections manager of the Tile Shop. "He continually promotes the credit profession and the importance of continuing education and networking."

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