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Media Contact: Caroline Zimmerman, Editorial Director, 410-740-5560, carolinez@nacm.org

Salt Lake City Credit Professional, Douglas Darrington, Receives Instructor of the Year Award from the National Association of Credit Management

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June 12, 2013: Columbia, MD—The National Association of Credit Management (NACM) honored Douglas Darrington, CCE of Magna, Utah as the 2013 Instructor of the Year during the association's 117th Annual Credit Congress and Exposition, held in Las Vegas, Nevada, May 19-22, 2013. Darrington is credit manager for Kilgore Companies LCC of Magna, a company specializing in road, utility and site construction, excavation and the maintenance of asphalt.

At Kilgore, is responsible for all credit functions in five company divisions across three states. Coworker Brian Hall praised Darrington saying, "This past year, [he and] his team reduced accounts receivables greater than 90 days by seven percent. This reduction is a direct result of his management and instruction skills. He brings the best out in his employees and takes the time to teach them."

Chicago-Area Business Credit Professional Denise Moller Honored as Student of the Year

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June 11, 2013: Columbia, MD—The National Association of Credit Management (NACM) honored Denise Moller, CCE, ICCE of Darien, Illinois, as the 2013 NACM Student of the Year during the association's 117th Annual Credit Congress and Exposition, held in Las Vegas, Nevada, May 19-22, 2013. Moller is a credit analyst with Tru Vue, a pioneer in non-glare glass surfaces used in commercial and museum-quality products in McCook.

Pursuing professional development in a post-recession landscape can be a challenge. For Denise Moller, attending NACM's Graduate School of Credit and Financial Management (GSCFM), held on the campus of Dartmouth College, meant fulfilling her dream of earning her Certified Credit Executive (CCE) designation. This executive-level certification from NACM endorses its achievers as capable of managing the credit function at an executive level in the areas of accounting, finance, domestic and international credit concepts, management and law. Moller was also voted by her peers to receive the graduate school's 2012 Student Leadership Award. Each class is comprised of two full-time sessions, each lasting nearly two weeks, for two consecutive years. The award reflects the participation and dedication of the student that most enhanced the experience for the rest of the attendees, who form quite a bond over the equivalent of a month's time together.

Rochester Area Credit Executive, Ronald Sereika, Honored with National Award of Excellence

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June 10, 2013: Columbia, MD—The National Association of Credit Management (NACM) has recognized Ronald Sereika, CCE, CEW of Fairport, NY as the recipient of the 2013 CCE Designation of Excellence Award. Sereika was honored at NACM's 117th Annual Credit Congress and Exposition, held in Las Vegas, Nevada, May 19-22, 2013.

Recipients of NACM's Designation of Excellence Awards are dedicated to the credit profession, committed to improving themselves through higher education (achieving certification) and enthusiastic about the difference they can make. For those who know Ronald Sereika, these qualities easily come to mind when considering this dynamic credit professional, enthusiastic volunteer leader and unwavering advocate.

Sereika is currently the credit manager for CooperVision, Inc., a provider of contact lenses with a strong emphasis on research and development. Sereika manages a team of 16 associates, and is responsible for collections in North America, as well as all international accounts. He firmly believes in treating all accounts as partners, not just customers.

NACM's Response to Associated Press Article about Credit Reports and Small Businesses

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The following is NACM's official response to an Associated Press article about credit and small businesses that ran in several mainstream media outlets last week.

Dear Associated Press Editors,

An AP article that ran in several news outlets, titled "How small businesses can avoid loan rejections" and written by AP small business reporter Joyce Rosenberg, had good intentions and a considerable amount of important information for small businesses seeking to improve their commercial credit standing. However, while it focused on the relationship between small businesses and their banks, it completely ignored the important relationship between small businesses and their suppliers. It is this relationship that defines the commercial credit score for all businesses.

Credit Managers’ Index for May Recovers April’s Loss, Rebounds to 55.6

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The National Association of Credit Management’s CMI for May 2013 reports large gains in the amount of credit extended and debtor ability to pay within terms.

Columbia, Maryland: May 31, 2013—The Credit Managers’ Index (CMI) from the National Association of Credit Management (NACM) for May leapt over two percentage points, from 53.3 to 55.6, to reach a level not recorded since August 2012. The improvement becomes more convincing upon review of the data, and is supported by better consumer confidence numbers and the general enthusiasm greeting the latest housing data.

The index of favorable factors made the transition into the 60s for the first time since November of last year, and is at the highest point in well over a year and a half at 61.6. This was a major breakthrough month and signals the potential for solid gains in subsequent months. Each of the four favorable factors staged recoveries. Sales jumped from 58.3 to 63, which is much higher than it has been in over a year. New credit applications improved from 56.5 to just under the 60 mark at 59.2, another level not seen in a year. Dollar collections jumped as well, from 57.2 to 59.2, a number last seen in December. Finally, amount of credit extended jumped much further into the 60s, from 60.8 to 65. Not since before the recession has this number been so high. “If the willingness to extend credit is surging at this pace, there will be some lofty expectations for the months to come,” said NACM Economist Chris Kuehl, PhD. “There would be good reason to question data this optimistic except for the good news percolating in the ranks of the consumer sector, and it is reasonable to assume that this CMI number reflects some of that.”

The data from the unfavorable factors is also encouraging and further reinforces the notion that a real rebound is underway. The jump was not quite as spectacular as with the favorable factors, but if the past is prologue there will likely be a bigger response in next month’s data. The unfavorable factor index rose above last month’s neutral 50 reading to 51.6. Some of its categories experienced a little reversal, but were offset by gains in other segments. Two factors, disputes and filings for bankruptcies, didn’t move at all and remained at 48.5 and 56, respectively. Rejections of credit applications fell from 51.6 to 50.8 but, anecdotally, it appears there are far more applications to deal with, which may have affected rejection rates. Accounts placed for collection crept up from 50.1 to 50.6, and dollar amount of customer deductions improved by a larger degree, but remains in the 40s, from 46.8 to 49.6. Dollar amount beyond terms made the most solid gain, jumping out of the 40s from 47 to 54.1, marking the highest level seen in well over two years. “This factor had the most impact, and if there is to be progress, this would be a good place to see it,” said Kuehl. “Creditors are clearly getting caught up in a variety of economic sectors.”

“The data from this month’s CMI looks especially positive, and it would be tempting to start trotting out all kinds of caveats and warnings in order to not be swayed by the stunning improvements,” said Kuehl. “But the CMI may simply be presaging much better days ahead.”

The complete CMI report for May 2013 contains more commentary, complete with tables and graphs. CMI archives may also be viewed on NACM’s website.

About the National Association of Credit Management
NACM, headquartered in Columbia, Maryland, supports more than 15,000 business credit and financial professionals worldwide with premier industry services, tools and information. NACM and its network of affiliated associations are the leading resource for credit and financial management information, education, products and services designed to improve the management of business credit and accounts receivable. NACM’s collective voice has influenced federal legislative policy results concerning commercial business and trade credit to our nation’s policy makers for more than 100 years, and continues to play an active part in legislative issues pertaining to business credit and corporate bankruptcy. Its annual Credit Congress is the largest gathering of credit professionals in the world.

Contact: Caroline Zimmerman, 410-740-5560

Website: www.nacm.org

Twitter: http://twitter.com/NACM_National

Source: National Association of Credit Management


 

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