President’s Blog: Survey Says! What Do You Value Most About Your CMA Membership?, by Mike Mitchell

CMA President and CEO Mike Mitchell

Thanks to everyone who participated in CMA’s Member Value Survey last month. Nearly 20% of our members responded, and I would like to share some of the results and insights we have gained from the feedback.

The top 5 reasons that participating members joined CMA were:

1. Networking with other credit professionals (73%)
2. Access to information on potential customers (67%)
3. Obtaining trade references from other CMA/NACM members (60%)
4. Credit education and training (49%)
5. My company was already a member when I started (48%)

Industry credit groups came in at #6 with 41%, but credit groups offer the benefits that members rated as the #1 and #2 reasons they joined (access to customer information and trade references, above).

The three benefits most important to participating members are:

1. Networking with other credit professionals (69%)
2. Access to information on potential customers (59%)
3. Obtaining trade references from other CMA/NACM members (43%)
4. Industry Credit Group membership (27%)
5. Credit education and training (27%)

More than half of all participants feel that the most valuable aspect of NACM membership is being part of a national credit community.

Almost 90% of participating members feel that their companies’ upper management understands the value of CMA membership.

Based on how likely a member is to recommend CMA to a friend or colleague, more than 83 percent of responders said they’d rate CMA at least 8 out of 10 or higher.

Here are a few member comments that best illustrate the survey results:

“Mostly networking and better knowledge of customer paying habits.”

“Be able to get first-hand, latest information about customers.”

“I think it’s very important to communicate with other Credit Professionals. Bringing our knowledge together will help in the success of our departments.”

“The continued education and training is priceless and networking with other credit professionals”.

Here’s what we learned:

Members who participated in this survey want CMA to continue to focus on providing opportunities to network with other credit professionals, access to customer payment information, and credit education and training. Some members suggested that CMA could improve upon those core benefits by encouraging credit group members to increase participation (attendance and data contribution) in credit group meetings, create more credit groups that are better aligned with certain industries, offer more advanced credit education and training programs, and offer an online forum for members to exchange best-practices. Additionally, a number of members suggested that CMA should offer more job-related services (job postings and resume search).

Thank you again to all who participated in our member value survey, and I will be reporting back to our members about the progress we make toward improving the benefits that you have deemed the most important to you and your companies.