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Why it's Important to Participate in CMA (and How You Should Participate), by Larry Convoy

If your Industry Credit Group is anything like some of our other groups, your participation has never been more vital to your company. We are seeing the super stores (Costco, Home Depot, Walmart, etc.) taking a very substantial market share from the small- to medium-sized businesses. Amazon and other internet-based sites are making it easy […]

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How does an industry credit group get started, keep its original objectives and thrive? Take the case of 55-year-old CMA Group Underwater Sports. On July 12, 1961, representatives from Healthways, US Divers, Voit, Swimmaster and Sportsways held the first official meeting of the newly formed Underwater Sports Equipment Credit Group facilitated by Credit Management Association. These […]

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The first word all Industry Credit Group facilitators are taught to listen for at a group meeting is WE, as in WE should all stop selling or WE should all put him on COD. This is the most severe of the Anti-Trust violations, and collusion like this can cost companies millions in lawsuits and fines. […]

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Finding companies that would fit in your industry credit group is not a difficult task. There are trade publications, mailing lists, associations and websites where you can input a company name and receive a list of that company’s competitors. The challenge is convincing an owner who has never been involved in a group to allow his credit manager to […]

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It seems that each month, a different industry feels the pain of losing one or more of their big players. It started in the Electronics industry a few years with Circuit City, moved over to the Grocery chains, department stores and last month it hit the Sporting Goods industry with 2 majors closing their doors. […]

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We are just barely into the year 2016 and already I am hearing excuses as to why the credit manager cannot attend the industry credit group meetings to which they belong. They range from the receptionist is out to my controller wants me to stay and call customers. Attending credit meetings provide your best Return […]

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To some, January 1st is like the first day of school. Everything starts out fresh and clean (even though I know many of your fiscal years start at different times of the year). For those group members who attend and contribute regularly, the beginning of the year is just a continuation of what you have […]

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Over the last 5 years, I have written approximately 55 newsletters preaching the value of Industry Credit Groups and encouraging your participation. I do this because I believe that a credit group is the single most valuable resource a credit manager can have. In the spirit of giving, Groups give you valuable data that many […]

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There’s a lot that’s bundled in the $99 a month Industry Credit Group dues that group members pay. But, for sake of argument, let’s pretend for a moment that CMA unbundled those items and that you had to pay for each of those benefits separately. Many service providers, including CMA, have weighed the advantages of an […]

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Some of you remember the great Jimmy Stewart movie, “It’s a Wonderful Life,” in which he envisions what life would have been like if he wasn’t born and its effect on his loved ones. At the conclusion, he is thrilled that it was only a dream and realized how good he actually had it. Consider […]

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Larry Convoy, lead group facilitator

It occurred to me while watching Kentucky annihilate another opponent on their way to a possible NCAA title, that there are many similarities between a championship basketball team and a successful Industry Credit Group. Both need a strong point guard, someone to lead the meeting, keep it focused and moving forward and keep all players or […]

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Larry Convoy, lead group facilitator

I have often wondered how industry groups are able to hold meetings in the winter in the Middle and Northeast parts of the country. Last month, I experienced this when one of my National groups met in Nashville. The temperature went from a high of 18* to a low of -3* with the wind-chill and […]

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Larry Convoy, lead group facilitator

Recently, I discovered that a longtime CMA and group member had played college basketball not far from where I went to school.  A few years ago, I found out that gentleman who sat next to me at a group meeting was a decorated hero from the Korean War.  Unfortunately, both discoveries were a result of […]

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Industry credit groups and networks offer CMA members a unique opportunity to network with other credit professionals in their industry. From July 2013 to June 2014, credit groups exchanged information on transactions in excess of $3.5B. More than 8,680 companies were discussed with advanced notice on $104.5M in total balances greater than 91 days past […]

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