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Oct 01 2012
CreditWise Published by NACM Business Credit Services and The Intermountain Credit Education League (ICEL)
E-News October 2012

In This Issue
- Personal Guarantees-A Simple Agreement to Improve Credit and Collections
- Scores Trump Trade
- Are You In or Are You Out? The Importance of Honoring Commitments
- ICEL Recap: A View into the Future - Utah's Changing Demographics
- ICEL Spotlight: Phillip White, Sunroc Bldg Materials

Looking Ahead

Oct 11 - ICEL "Demand More from Yourself" Speaker: Dawn Meehan, Survivor South Pacific and BYU English Professor More info

Oct 17 - Western Region Credit Conference Las Vegas, NV

Nov 5 - Professional Designation Exams More Info

Nov 8 - ICEL - Speaker: Enid Green Mickelsen

Nov 28 - Mechanics' Lien Seminar -  Instructor: Dana Farmer, Esq. More info

The CreditWise Newsletter invites NACM members to submit articles for upcoming issues. The articles should be based in business and credit management. Articles containing 350 words or more that are published are eligible for NACM Roadmap and CCE Recertification points.

Articles may be submitted to Georgette by email at

Business Bloopers!


Stop, Drop and Roll

It was my first business lunch with a group that included several company executives. We headed to a nearby Chinese restaurant and were seated at a table. Suddenly I felt the world shift under me and the next thing I knew, I was laying on my back on the floor due to a broken chair. Thank heavens I wasn't wearing a skirt! The company president peered over the table and anxiously asked if I was okay as I rolled to my knees and pulled myself up. The waitress came bustling over, apologized profusely and provided me with a new chair. I must have been beet red! We were offered a free order of dumplings to compensate for my experience, but obviously, that didn't fix my embarrassment. We never went back to that restaurant, but my co-workers still like to remind me of that choice experience!

**We'd love to hear your bloopers as well! Please email any business related bloopers, embarrassing experiences, silly mistakes, etc. to mmickelsen@genevarock.com

Why should I submit potential members to NACM?"

Help gain information on your customers. As a member, their information could help build the database on your customers. It's not just a one-way street. more Info



Personal Guarantees - A Simple Agreement To Improve Credit and Collections

by Shane Inglesby, CCE, Geneva Rock Products, Inc.

Credit and collections- it's what we do for a living. Without collection opportunities, we would not be employed. As much as we bemoan the challenges we confront on a daily basis, we have to admit that this challenge is what puts food on our tables. This reality aside, one signature on a simple agreement can assist in the credit review process and help streamline collections. Obtaining a personal guarantee can literally change the way a credit manager determines credit worthiness and, ultimately, in a worse-case scenario, help collect on a past due balance.

The ultimate goal of a personal guarantee is to bind a third party to pay your company in the event... read full article 

Congratulations New Designation Holders

Stan Fieeiki, CCE, Arnold Machinery
Diana Pitt, CBA, The Dannon Company
Kathy Richins, CBA, Holland Equipment Co.
Heidi Krum, CBA, Johnstone Supply

Scores Trump Trade

by Kevin Dansie, CCE, Wright Express Financial Services Corp. 

Have you ever wondered why a debtor, someone about whom you've received glowing trade references, is a slow payer, or worse, defaults? Relying on trade references for underwriting can leave you with unwanted surprises because those references are quite limiting. For example, a prospective debtor applies for credit with your company and offers you three trade references. You check those references, which show the prospect pays their bills on time. Based on those references, you open a new account for that company.

What the applicant does not tell you is that in addition to the three referenced companies it pays well, it also has credit with several other companies that it does not pay as reliably. If you are a crucial supplier... read full article 

ICEL Chair Message
Communication is Key in Credit & Collections
By Shanna Sorge, CCE, Easton Technical Products
When it comes to collections, how you communicate can either open avenues that encourage prompt payment, or build walls that will ensure you won't see your money for a long time. This fact may seem like a no-brainer, however there are many Credit Managers and AR managers and their staff who fail to employ good communication skills and, as a result, unwittingly contribute to their own collection problems.

Many Credit Managers don't relate customer service with collections tasks. Just because a customer owes you money... read full article 

Are You In or Are You Out? The Importance of Honoring Commitments

by Melissa Mickelsen, CBA, Geneva Rock Products, Inc.

"There are only two options regarding commitment. You're either IN or you're OUT. There is no such thing as life in-between."  Pat Riley

When we consistently honor commitments, we not only benefit personally but our organizations also benefit. We develop a reputation as someone who is reliable, honest and hard working. Our self esteem improves and we take pride in knowing that our word is our bond. Higher productivity and greater cooperation among co-workers benefit our employers. We are able to develop stronger teams and foster an environment of trust and support. In addition, greater customer satisfaction is achieved when we follow through on promises.

Unfortunately, there are many obstacles working against us... read full article 

ICEL Meeting Recap:
 A View Into the Future  Utah's Changing Demographics

by Susan Archibeque, CCE, Nicholas & Company

The ICEL meeting on September 13, 2012 included a presentation by; Pamela S. Perlich, Ph.D.- University of Utah. The presentation titled: "A View into the Future- Utah's Changing Demographics" was loaded with statistical and predictive data that I found interesting and valuable.
Dr. Perlich discussed the three "Drivers of change" that will impact the way we do business in the near future:

1. Economy- In 2010 Banks created bundling which allowed many home owners to use their homes as ATM's. The net resulted is 30% of mortgages in Utah are in deep financial distress. She explained that we cannot count on the federal government to bail us out. She explained that there is no politician in the world that could have gotten us out of the mess we are in.

2. Technology .. read full article     

ICEL Spotlight
Phillip White, Sunroc Bldg Materials.

by Phillip White, Sunroc Bldg Materials and Carolyn Thompson, Meadow Gold Dairies

Phillip works for Sunroc Building Materials, and did such a good job writing his own story I thought it best to just print what he wrote. Welcome to ICEL Phillip. I look forward to getting to know you better.

I have worked in the construction industry for nearly my whole life. My father would always have his boys come help him on many of his job sites - even before we were legally supposed to be there. This provided many summers worth of a job. In the construction industry I have worked as a general laborer (broom pusher), Assistant Superintendent (assistant babysitter), and Buyout Manager. I have been able to see the construction industry from several different ... read full article

2012 Swing & Shout

The annual NACM Fall Outing was held on Friday, September 21, 2012, at the Eaglewood Golf Course in North Salt Lake. Congratulations to those who won in the golf tournament. Way to go to those lucky members who won cash and prizes playing Bingo. A special thanks to member companies for their donations towards Bingo prizes and thanks to the 2012-2013 Entertainment Committee Members for making the event a success.

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  read full article