2017-07-26 06:11:26
THE ELFA BOARD OF DIRECTORS met May 19 in Washington, D.C., under the leadership of Chairman Tony Cracchiolo. The meeting concluded a very busy week of association-related activities, which included the annual Capitol Connections grassroots program, a meeting of the Foundation Trustees and meetings of the association’s Business Council Steering Committees.
During the Board meeting, ELFA leaders deliberated over a number of high-priority items focusing on the strategic direction of the association and the ultimate goal of ensuring that ELFA programs, products and services are responsive and continue to deliver value to members. Among the key issues addressed by the Board were the following:
ELFA President and CEO Ralph Petta and staff offered updates on a variety of association activities, reporting solid membership renewal/recruitment and event attendance and an active state and federal advocacy agenda. In September the ELFA headquarters will move to a new location a few blocks away from its current location in Washington, D.C., which will provide long-term savings for the association.
The Nominating Committee has assembled a strong slate of candidates for Directors and Officers, which will be voted on by the ELFA membership prior to the Annual Convention in October.
Representatives from the research firm McKinley Advisors briefed the Board on the results of the results of the ELFA Member Impact Study. Th e results will be incorporated into the association’s strategic planning.
The Board discussed and voiced support for initiatives of the Women in Leasing Working Group, including hosting a breakout session at the ELFA Annual Convention on gender- balanced leadership, Board attendance at the Women in Leasing Reception at the Convention and plans for a Women in Leasing Summit in 2018.
Members of various issue-oriented work groups shared updates on a range of issues, including electronic documentation and the Certified Leasing and Finance Professional program. Th e Board also received an update on the Emerging Talent Advisory Council, representing up-and-coming staff within member companies.
Treasurer Rob Boyer reported that the association is on target to meet its overall 2017 budget. ELFA ended 2016 in a strong financial position, which enabled the association to make a healthy contribution to its reserve account. Th is helps to ensure the future viability of the organization, makes it posible to fund a potential, unexpected threat to the industry and enables ELFA to continue the development of meaningful, needs-based programming to the membership. Th e Board approved investing some of the ELFA reserves for the benefit of members in several areas, including the Equipment Leasing & Finance Foundation, Women in Leasing initiatives, Emerging Leaders initiatives and an upgrade to the association’s online educational offerings.
Foundation Chairman Bill Verhelle offered an update on the activities of the Equipment Leasing & Finance Foundation.
Th e Board will meet next in October at the site of the ELFA Annual Convention in Orlando. Its Executive Committee conducts its summer meeting Aug. 7–8.
Strategy Meeting
IN JUNE the ELFA Senior Team got together for a dynamic and productive offsite planning meeting. The team discussed ELFA’s strategic priorities for 2018 and beyond, drawing on findings from the association’s member impact survey. The discussion will continue at the ELFA Executive Committee meeting in August and the October Board meeting.
Operations & Technology Conference: Register Today
THE FUTURE IS HERE: Do You Have the Tools Necessary? That’s the theme of the Operations & Technology Conference and Exhibition, Sept. 11–13 in Charlotte, North Carolina. Th is event provides the most up-to-the-minute information on technology, soft ware and operational issues that impact equipment finance executives and their clients. Th is conference will give you the tools to succeed amid shifting markets and ever changing customer desires. For more information and to register, go to: www.elfaonline.org/events/2017/OT/.
September Accountants Conference Promises Packed Agenda
THE LEASE AND FINANCE ACCOUNTANTS CONFERENCE, Sept. 11–13 in Charlotte, North Carolina, will bring you up to speed on accounting issues impacting lessors and their clients. Representatives from the FASB and the IASB will be on hand to discuss the new lease accounting standards. For more information and to register, go to: www.elfaonline.org/events/2017/LAC/.
DID YOU KNOW that ELFA members have access to a free help desk for industry information? From statistics to market research to technical and business information, ELFA’s Information Central help desk has the resources you need to successfully operate your business. This member-dues-supported service is available exclusively to ELFA members. Submit your industry question to Bill Choi, VP of Research and Industry Services, at bchoi@elfaonline.org.
Congressional Visit
IN MAY Amur Equipment Finance hosted Rep. Adrian Smith at the company’s headquarters in Grand Island, Nebraska. Rep. Smith represents Nebraska’s Third District and is a sitting member of the House Ways and Means Committee. Rep. Smith stated, “Access to capital and equipment is vital to creating jobs and growing our economy. I appreciated learning more about how AmurEF’s employees in Grand Island work each day to improve economic opportunity in Nebraska and around the country.”
Research Think Tank
THE RESEARCH COMMITTEE met at ELFA headquarters in May to plan the release of the 2017 Survey of Equipment Finance Activity. Learn about the report on p.32.
Communication Matters
THE COMMUNICATIONS COMMITTEE gathered at ELFA headquarters in May. Participants discussed new ELFA resources for member companies and end-users, ideas for industry promotion and opportunities and trends in communications and marketing.
Next-Generation Issues
THE EMERGING TALENT ADVISORY COUNCIL (ETAC) got together in D.C. in May. This group is working to encourage industry employees to get involved in the association early in their careers and to attract the best and brightest to the industry. The ETAC is currently planning the Emerging Talent Regional Networking Event in Charlotte, North Carolina, on Sept. 12. Register today at www.elfaonline.org/events/.
Guest Lectures Span the Nation
HOW CAN YOU INCREASE AWARENESS of equipment finance and attract new talent to the industry? Present the Foundation’s Guest Lecture Program (GLP). Here are some examples of recent presentations to students nationwide:
● John Bober of GE Capital Industrial Finance presented the GLP at Rhodes College to undergraduates and masters in accounting students.
●Jacob Fahl of Hitachi Capital America Corp. presented the GLP to 20 students in a financial analysis class at Southwest Minnesota State University.
●Tom Mariani and Jeremy Engelhardt of CNH Industrial Capital presented the GLP to more than 60 students in two financial management classes at Carthage College in Kenosha, Wisconsin.
Learn how you can deliver the program at www.leasefoundation.org.
Roundtable Addresses Compensation, Internships and More
ARE YOU A HUMAN CAPITAL MANAGEMENT PROFESSIONAL with responsibility for benefits, compensation, recruitment and retention, talent management and/or workforce planning? If so, you can’t afford to miss the Human Capital Best Practices Roundtable, Sept. 27 at ELFA Headquarters in Washington, D.C. Topics will include trends in compensation, coaching programs, internship programs, employee engagement and mentorship programs. Learn more and register today at www.elfaonline.org/events.
Surveys Reveal Credit and Collections Trends
GET A SNAPSHOT LOOK at the state of credit and collections in the results of two surveys presented at the 2017 Credit and Collections Management Conference, June 4-6 in Baltimore:
Credit Manager Survey: Based on feedback from close to 300 ELFA members, this survey covers a variety of topics, including credit metrics at bank, captive and independent leasing and finance companies; collateral and residual valuations; credit processes; regulation; and the macroeconomic environment.
Collections Manger Survey: Based on data from 74 member companies, this survey looks at the latest trends and statistics pertaining to aging of receivables, productivity measures, resources assigned to collection activities, technological trends and outsourcing strategies.
Find the results of both surveys at www.elfaonline.org/industry-topic/riskmanagement/research-archive.
ELFA’s Ralph Petta spoke at the FedeLeasing National Leasing Congress in Bogota, Colombia, in June on the topic “Where’s the Leasing Industry Heading?: Challenges and Trends.”
We're Moving!
EFFECTIVE SEPT.1,2017, the business address for the Equipment Leasing and Finance Association and the Equipment Leasing & Finance Foundation will be changing to:
1625 Eye St.NW , Suite 850 , Washington, DC 20006. Please update your records to reflect this new address.
If you have questions, please contact us at info@effaonline.org(for ELFA inquiries), foundation@leasefoundation.org(for Foundation inquiries) or 202-238-3400.
ELFA Website Earns Hermes Creative Award
ELFA EARNED A GOLD AWARD in the 2017 Hermes Creative Awards, an international competition for creative professionals involved in the concept, writing and design of traditional materials and programs and emerging technologies. ELFA was recognized for the redesign of its flagship website at www.elfaonline.org, which provides user-friendly access to the latest information and resources concerning the $1 trillion equipment finance industry.
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