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 anticipated. A decision was made to form a group and name it the New England Adjustment Managers Association, Inc. (NEAMA). The aim of the association being 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 NEAMA constitution and by-laws were adopted in February 1971. Members come from throughout New England and have grown to include banks, credit unions and other credit grantors. Our associate membership offered to industries which service the credit and collection space has been key to the accomplishments of our organizational mission and goal. The membership has navigated through the many changes in the financial industry including the turbulent 1980s and 1990s, housing market crash in late 2000’s, regulatory and legislative changes, the inception of the Consumer Financial Protection Bureau (CFPB) and the Covid-19 pandemic. 

NEAMA meets monthly to discuss mutual operating problems and trends in our business. Through our Legislative Committee we keep our membership informed of legislative events or information, which affect our industry. At the start of every meeting, time is purposefully allotted to allow members time for discussion and valuable networking.  That time is normally followed by a luncheon speaker who focuses on timely subject matter that is pertinent to the collection or credit industry.

NEAMA Inc. is a nonprofit organization and has a yearly seminar with the purpose of furthering our professionalism in the collections field. NEAMA also provides scholarships to students for college education expenses. We continue to have the growth of our organization as our main goal. One of the prime advantages for joining NEAMA is the opportunity to take advantage of the knowledge and experience of the membership.

NEAMA continues to be the premier networking organization group for credit and collections with a great number of financial institutions, associate members as well as platinum sponsorships.