Award Presented by the National Association of Credit Management

July 19, 2012: Columbia, MD— The National Association of Credit Management (NACM) has recognized Karol, Saito, CBA of Spokane as the recipient of the 2012 CBA Designation of Excellence Award. Saito was honored at NACM's 116th Annual Credit Congress and Exposition, held in Grapevine, TX, June 10-13, 2012.

The Credit Business Associate (CBA) designation is NACM's initial professional certification. Individuals earn the CBA by successfully completing three business credit topics (basic financial accounting, business credit principles and introductory financial statement analysis) and then passing a related examination. NACM's Designation of Excellence Awards honor designation holders who strive for excellence in all aspects of their professional development. Among the many laudable traits this year's outstanding CBA designee possesses, Saito's commitment to the profession shines. "Our credit community is a better place with Karol involved in it," said Jennifer Walsh, CBA, president of NACM Inland Northwest (NACM INW). "Education is always on the forefront of her mind."

Honored by the National Association of Credit Management

July 11, 2012: Columbia, Maryland—The National Association of Credit Management (NACM) honored Val Venable, CCE as the 2012 O.D. Glaus* Credit Executive of Distinction during its 116th Annual Credit Congress and Exposition, held in Grapevine, Texas, June 10-13, 2012. The Glaus Award recognizes an individual who has made significant contributions to the credit profession, who upholds the tenets of lifelong learning and who is highly esteemed by his or her peers.

Venable is director of credit for Ascend Performance Materials, a global leader in proprietary technologies involving the production of nylon, plastics and synthetic fibers headquartered in Houston, Texas. She was previously the America's credit manager for SABIC Innovative Plastics where she managed a portfolio consisting of over 50,000 accounts. With over 25 years' experience as a credit manager, Venable has worked in the aerospace, steel and metal, and marine industries, both domestic and international.

Venable holds an undergraduate degree and has earned the Six Sigma Vendor Black Belt and Six Sigma Green Belt. She holds a certificate as a Certified Expert Witness and has also completed NACM's Graduate School of Credit and Financial Management (GSCFM). She has been an expert on bankruptcy and bankruptcy reform for the NACM Government Affairs Committee for the past decade and has testified before the U.S. Congressional committee on behalf of NACM. She has also co-chaired an American Bankruptcy Institute (ABI) committee on NACM's behalf, as well as served on many creditors' committees on behalf of her employers. Venable served on the NACM National Board of Directors for eight years, serving as chairman in 2001-2002. Additionally, she has served on and chaired many national committees, and has been a presenter and panelist for several NACM Credit Congress sessions, as well as regional conferences and industry day forums. Venable currently serves as a board member with her local affiliate, NACM of South Texas in Houston.

Columbia, Maryland: June 6, 2012—The National Association of Credit Management (NACM) released the 2012 edition of its Legislative Introduction and Position Brief today. Appearing in the June issue of the association’s flagship publication, Business Credit, the comprehensive document serves as a historical record of NACM’s more than 100 years representing the interests of unsecured trade creditors on Capitol Hill.

After playing an important role in last year’s repeal of the 3% withholding tax, which would’ve been charged on most government contracts on a local, state or federal basis, NACM has thrown the full weight of its resources behind the cause of reforming the Bankruptcy Code, and specifically its preference provisions.

Despite the changes made in the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), preference abuse is still prevalent. For many years now, NACM has sounded the alarm over the Code’s broken and fundamentally unfair preference provisions, which have failed to function as originally intended. “The reality is that trade creditors face a double jeopardy: they lose funds due to the bankruptcy and are also forced to repay funds already collected,” says NACM in the brief. “This simple fact has put some small companies out of business.”

NACM’s position is that the burden of proof in a preference claim should be shifted from the creditor to the trustee, and the 2012 Legislative Introduction and Position Brief features a simpler, updated approach to accomplishing this through legislation. The document also features NACM’s numerous other bankruptcy-related priorities.

Another new addition to this year’s brief is a section pertaining to NACM’s international division, the Finance, Credit and International Business Association (FCIB). FCIB’s vital position as a supporter of exports has become ever more important in the wake of President Barack Obama’s National Export Initiative (NEI), which is now in its second year and sets a goal of doubling U.S. exports by 2014.

A full copy of NACM’s 2012 Legislative Introduction and Position Brief can be found here.

The National Association of Credit Management (NACM) will host its 116th Credit Congress in Grapevine, TX on June 10-13. While all the educational sessions on this year’s program are extremely relevant to the commercial finance industry, the presentations with an international focus have become all the more timely given recent developments in global trade.

Columbia, MD: May 29, 2012—Recent news items pertaining to U.S. trade policy have indicated that policymakers are finally starting to recognize what exporters have known all along: global trade is a bipartisan way to boost the American economy and create jobs.

Cheers from both sides of the political aisle could be heard when the U.S. free trade agreement with Colombia entered into force earlier this month. And although it took a bit more time than it had in years prior, the sharply-divided U.S. Senate also came together recently to reauthorize the charter of the Export-Import Bank of the United States, while also increasing the bank’s lending limit from $100 billion to $140 billion.

These and other developments show that the United States is recognizing the growth potential available in the world of global trade and seeking to expand global opportunities to increase profit and create jobs.

Aiding this effort to make exporting a viable business opportunity for companies of all sizes are the numerous educational offerings of the National Association of Credit Management (NACM). When NACM hosts its 116th Credit Congress in Grapevine, TX from June 10-13, attendees from the commercial finance industry will find a wealth of sessions geared directly toward leveraging international markets to grow their companies.

February 9, 2012: Columbia, MD-Budget shortfalls remain widespread in the wake of the financial crisis. One notable, and oft-overlooked, casualty of the worst recession in a generation is lax administration of escheatment and unclaimed property rules by state authorities. Where once companies could often pay little mind to local laws governing unclaimed property, now, as recent studies have shown, enforcement is ramping up as local governments look high and low for ways to fill in budget gaps.

The nation's credit professionals must keep this in mind, and to help them, Val Jundt, managing director of Keane Consulting and Advisory Services and a frequent presenter at events hosted by the National Association of Credit Management (NACM), recently offered her best recommendations to trade credit professionals beset by these new challenges, where stringent enforcement of unclaimed property liabilities is the norm, rather than the exception. "Though accounts receivable credit balances are clearly within the definition of an unclaimed property liability, it has only been within the past 5-7 years that this category of property has become a primary focus for the auditor," said Jundt. "The responsibility of the credit manager to ensure that the identification, tracking and posting of all customer credit balances is done accurately, and completely, is critical."