| New England Adjustment
Managers Association, Inc. was founded in
1969 by a group of 8 Collection Managers and
Supervisors of banks who were alarmed at the
high rate of delinquency and charge offs in
the area. They first considered having a few
meetings to discuss problems associated with
collections, but soon realized that the need
for information sharing and networking was
greater than they had anticipated. A decision
was made to form a group and name it the New
England Adjustment Managers Association, Inc.
(N.E.A.M.A.) The aim of the association would
be the promotion and development of consumer
and commercial credit adjustment as a profession.
The first chairman, John Fitzpatrick of
the Worcester County National Bank was elected
in 1969. Membership growth was slow at first
but grew steadily after the Constitution
and By Laws were adopted in February 1971.
Members now come from throughout New England
and we have grown to include credit unions
and other credit grantors as well as banks.
Our associate membership of industries which
service the collection area of these credit
grantors is a definite key to the accomplishments
of our goals. The membership fluctuated
as the financial industry experienced many
changes and consolidations during the turbulent
80’s and 90’s. N.E.A.M.A. presently has
over 50 member institutions, and over 30
associate members.
Several of the founding members are still
active in the organization providing direction
and education to the group. N.E.A.M.A. meets
monthly providing speakers for current topics
relevant to the collection or credit field.
N.E.A.M.A. Inc. is a non profit organization
and has a yearly seminar with the purpose
of furthering our professionalism in the
collections field. We continue to have the
growth of our organization as our main goal.
One of the Prime advantages from being members
of N.E.A.M.A. is being able to take advantage
of the knowledge and experience of the membership.
We discuss mutual operating problems and
trends in our business at our business meetings.
Through our Legislative Committee we keep
our members informed of legislative events
or information, which affect our industry.
A luncheon speaker is normally provided
to discuss a timely subject pertinent to
our industry. Prior to our meeting time
is allocated for the purpose of discussion,
which is also a valuable networking opportunity.
A newly formed Public Relations Committee
has been established for the purpose of
promoting and expanding N.E.A.M.A’s prominence
in the collection field. N.E.A.M.A. is always
encouraging new members from banking, credit
unions and other financial organizations
involved in credit collections to join our
organization. The annual membership fee
is $100.00 renewable yearly in the fall.
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