2016-07-29 04:37:14
ELFA’S BUSINESS COUNCIL STEERING COMMITTEES (BCSCs), which represent the five key business sectors of the association membership, met in Washington, D.C., in May as part of the association’s Capitol Connections congressional outreach program. Read about the committees’ activities below, and plan to attend the Business Council luncheon meetings at the 55th ELFA Annual Convention. Th e BCSCs are planning engaging meetings for each sector on Tuesday, Oct. 25, 12:45 p.m.–2:30 p.m. Don’t miss this chance to network with your colleagues and get up-to-speed on industry sector trends.
Captive and Vendor Finance BCSC
THIS COMMITTEE represents the constituency group within ELFA that provides vendor financing programs, either as a subsidiary of a manufacturer or an independent, third-party organization. Th e committee is composed of 15 members, drawn roughly equally from captive organizations and thirdparty independents and banks.
Throughout the first half of 2016, the committee conducted regular conference calls to discuss the current business climate and the outlook for this sector going forward. This input is valuable to association staff .and members of the committee itself.as the association develops needs-based programming designed for member companies operating in this space. With a few exceptions in certain market sectors, most committee members reported a cautiously optimistic approach to the first half of the year, in terms of originations and credit quality.
At its May meeting in D.C., the group conducted the following business:
Reviewed ELFA's membership retention and recruitment goals for the year.
Reviewed the goals and objectives of the association’s grassroots public policy program, focusing on targeted contribution levels for members of the BCSC.
Debriefed the successful Best Practices Roundtable conducted in Chicago in April.
Made preliminary plans for the Captive and Vendor Finance Business Council luncheon at the ELFA Annual Convention in Palm Desert.
Reviewed the upcoming elections, which will be held to replace BCSC members whose terms expire at the end of 2016.
For more information, contact Committee Chair Mike Sweeney (michael.sweeney@everbank.com) or staff liaison Bill Choi (BChoi@elfaonline.org).
COMPOSED OF 18 MEMBERS, this committee represents bank-related organizations and other financial institutions involved in single transactions over $5 million. During the committee’s May meeting in Washington, D.C., the group discussed the following:
The committee has made it a top priority to advance the understanding of the equipment leasing and finance industry among university and college faculty and students. They have been doing this by delivering the Guest Lecture Program, a comprehensive PowerPoint presentation designed to provide the basics and demonstrate why equipment leasing and finance is a viable option in the financing/banking industry. To date, four members from the Financial Institutions BCSC have presented the Guest Lecture Program. Other members of the committee have plans to present the Guest Lecture Program later in the year, including at Bryant University, Holy Cross and the University of Minnesota. To access the Guest Lecture Program, please visit: www.elfaonline.org/glp/.
The committee debriefed the successful Bank Best Practices Roundtable, which was held in April in Chicago. Thirty-nine members attended the 2016 roundtable and actively discussed technology trends in equipment finance, benchmarking trends and the changing workforce. Input on how to improve the format and content of the roundtable was also discussed.
A subcommittee of members has been formed to plan the upcoming Financial Institutions Business Council luncheon to be held at the ELFA Annual Convention.
An additional subcommittee is also in the process of reviewing session proposals for the Annual Convention.
For more information, contact Committee Chair Alan Sikora (alan.sikora@faef.com) or staff liaison Julie Benson (jbenson@elfaonline.org).
THIS COMMITTEE engages independent finance and multiline finance companies involved in transactions between $250,000 and $5 million, either individually or through lines. At its May meeting in D.C., the committee members:
Shared their experiences and insights from Capitol Connections, attended by a record 10 committee members. Members agreed that participating in the program is a highly valuable activity for individual members and the industry as a whole.
Debriefed the Independent Roundtable held in April in Chicago and discussed strategies for increasing turnout in 2017.
Reviewed their 2016 membership outreach campaign, in which committee members reached out to prospects regarding membership in the association. As a follow up to that effort, the committee is conducting a member retention effort this summer.
Discussed progress toward the goal of completing 10 Guest Lecture Program presentations in 2016.
Identified a subcommittee of members to plan the Independent Business Council luncheon to be held at the ELFA Annual Convention.
Discussed the upcoming BCSC elections, which will be held to replace BCSC members whose terms expire at the end of 2016.
For more information, contact Committee Chair Connie Eimers (Connie@vfgusa.com) or staff liaisons Amy Vogt (avogt@elfaonline.org) and Richard Shanahan (rshanahan@elfaonline.org).
THIS COMMITTEE is composed of a diverse mix of industry specialists who provide a variety of services to the members of the other four Business Councils.
Service providers were again well represented at Capitol Connections, with 100% participation at the event. Assembling in small teams provided an excellent opportunity for service providers to conduct faceto- face meetings with members of Congress in solidarity with the entire ELFA membership.
At its May meeting in D.C., the committee discussed their progress toward their goals for the year. Activities for 2016 include:
Networking Event: Join the Service Providers BCSC as they sponsor an ELFA networking event at Great American Ballpark in Cincinnati on Aug. 17—tickets are still available. We’ll begin at 4 p.m. with Scott Kiley of Fifth Third Bank discussing “Th e Powerful Forces Influencing the Bank-Owned Equipment Financing Marketplace.” We’ll then stroll across the street to the ballpark to enjoy traditional ballpark food and beverages while watching the Cincinnati Reds take on the Miami Marlins. More information is available at www.elfaonline.org/Cincy/ or by emailing the Service Providers staff liaison Paul Stilp at pstilp@elfaonline.org.
Convention Luncheon Session: It will hard to top the Service Providers luncheon session held at the 2015 ELFA Annual Convention but we aim to do so. Martin Klotzman of Ivory Consulting is leading the effort to assemble a top-notch panel on the topic of attracting and retaining millennials in your workforce. We’ll hear from a number of members of ELFA’s Emerging Talent Advisory Council on what keeps them engaged in the workplace. We hope to see you in Palm Desert!
For more information, contact Committee Chair Jeff Dicosola (JDicosola@GAIG.COM) or staff liaison Paul Stilp (pstilp@elfaonline.org).
THIS COMMITTEE engages companies primarily involved in transactions that are less than $250,000, either individually or through lines. The committee holds monthly calls to discuss trends in the small ticket arena. Th e Chair leads a special topic discussion on every call.
Each year the committee organizes the Small Ticket Business Council luncheon at the ELFA Annual Convention, where guest presenters discuss trends in the leasing industry. As in previous years, members of the committee will lead ELFA members in a discussion about the annual small ticket industry survey, which captures industry trends and highlights. In planning the luncheon, committee members used feedback received from ELFA members last year on what they would like to hear at the event. Th e committee hopes to continue the success from last year with provocative topics and even greater attendance at the luncheon in 2016.
For more information, contact Committee Chair Kris Darby (Kris.Darby@westernequipmentfinance.com) or staff liaisons Dennis Brown (dbrown@elfaonline.org) and Ed Rosen (erosen@elfaonline.org).
Contest Recognizes Membership Recruitment
THIS SPRING the ELFA Membership Committee challenged each Business Council Steering Committee to recruit as many new members as possible in a two-month period. ELFA would like to extend a big thanks to all the BCSC members that successfully recruited a new member in 2016 and congratulate the Service Providers Business Council for recruiting the most number of members on a percentage basis. Congratulations!
Vote in the BCSC Elections
We encourage your active participation in the Business Council Steering Committee elections. Nominations for the 2017 BCSCs were accepted through July 27. Voting will take place Sept. 9–26. Find details at www.elfaonline.org/About/Gov/Com/BCSC/index.cfm?fa=Election or contact Ed Rosen at erosen@elfaonline.org or 202.238.3428.
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