InterConnection January/February 2021 by NACM Connect

The InterConnection VOLUME 9

ISSUE 1

JANUARY/FEBRUARY 2021

NACM Connect Virtual Conference Wrap-Up to present for an hour virtually than to take time from his very busy schedule to deliver his economic forecast in person, and many more of our members were able to hear his remarks.

Lillian Novak, CGA Vice President of Education, Marketing, and Member Services NACM Connect n this, dare I say it, unprecedented year, NACM Connect is pleased that we were able to bring our 2020 conference to our members in a virtual format. While not an ideal situation, our members who need education and participation points to maintain their CCE, ICCE, or to earn their NACM professional designations were able to not only attend the event; but, they were able to attend more educational sessions than in a typical live event. Participation topped 200 members and over 20 exhibitor/ sponsors. Because of the support of our partner community, those members participating were able

to attend at a registration fee much lower than our live events. Additionally, we were able to bring in speakers that were able to reach all of our members. Many of our speakers also have time and travel constraints and aren’t always able to attend all three NACM Connect conferences. It was much easier, for example, for our opening keynote speaker, Dan North of Euler Hermes,

“The virtual webinars worked out wonderfully. Due to the Covid-19 travel restrictions in place, I was finding it difficult to earn CCE recertification credits. NACM Connect's virtual conference allowed me the flexibility to attend many more seminars over the course of several weeks. As a result of this, I was able to attend a number of interesting webinars that I may not have been able to attend in person. I was also able to earn additional credits for my CCE recertification,” remarked Tony Greenway, CCE, Credit Manager at Edwards Garments in Kalamazoo, Michigan. Continued on page 17>>

NACM Connect Employees and Members Get the Giving Spirit Lillian Novak, CGA Vice President of Education, Marketing, and Member Services NACM Connect

his past holiday season was one of the most desperate we’ve seen in some time. The pandemic hurt many families in more than one way. Many people lost their jobs; many who usually have the ability to help were unable to this year. NACM Connect, its staff, many of its members, and the ACE Group and its members came through, raising over $1000 for Santa Cop, a charity helping needy families in the Rockford area with clothes, food and

toys. Our holiday Open House last year was a toy drive for Santa Cop, and we hope that we will be able to have a live event for our members to get together next year. We also began supporting the Palatine Food Pantry. We would like to thank all those who did participate in our efforts, and also to those that participated in other charities of your choosing. We can be proud as an organization in our efforts to help those less fortunate. ■

2020-2021

Board of Directors CHAIRPERSON Patrick Nelson, MBA ACCO Brands, Inc.

In This Issue NACM Connect Virtual Conference Wrap-Up

NACM Connect Illinois/Wisconsin Industry Credit Group Meetings

NACM Connect Employees and Members Get the Giving Spirit

NACM Connect Missouri /Kansas Local Industry Group Meeting

TREASURER Kevin Stinner, CCE, CCRA Simplot AB Retail, Inc.

2021 Institute of Credit Class Schedules

NACM Connect Nebraska Local Industry Group Meetings

In this Edition

Emerging Leaders: Forecasting 2021

NACM Connect Indiana/Michigan/Ohio Local Industry Group Meetings

DIRECTORS—TERMS ENDING 2021 Tracey Bland First Citizens Bank Staci Cima, CCE Huttig Building Products Diana Hoffmann, CBA Rockline Industries, Inc. Brendon Misik, CCE, CICP Nutrien Dave Zahller, CCE Tubular Steel

Save the Date: Legal Symposium

NACM Connect Pennsylvania Local Industry Group Meetings

NACM Connect Missouri Honors and Awards Nomination Form

NACM Connect National Industry Credit Group Meeting

Annual Call for Volunteers and Nominations Form

NACM Connect New York Local Industry Credit Group Meeting

2020 Credit Executive of the Year Nomination Form

Event Calendar

2021 Elite Membership Nomination Form

NACM Connect Credit Reporting Solutions

Institute of Credit 2021 Course Schedule

Credit 101, 102, & 103

VICE CHAIRPERSON Mike Hill, CCE MiTek USA, Inc.

DIRECTORS—TERMS ENDING 2022 John-John McEvilly, CBA, CICP PSAV Presentation Services Joe Lange, CCE, CCRA Brenntag Great Lakes, LLC Adam D. Ross, CCE Feralloy Corporation George Valletti, CFO/COO Ginsey Home Solutions DIRECTORS—TERMS ENDING 2023 Curtis Litchfield, CCE Land O' Lakes/Purina Mills Luz Moreno, CCE, CICP Klein Tools Jeff Weber Uline Yazmin Yepez, CBF, CCRA, CICP Mitsubishi Electric Automation Inc. PRESIDENT Phillip J. Lattanzio, CCE, COO NACM/Chicago-Midwest SECRETARY Kerry Jensen, CPA NACM/Chicago-Midwest COUNCILOR Erica White, CCE Ferguson Enterprises EDITORIAL STAFF EDITOR Linda Herbst Senior Marketing Administrator ASSOCIATE EDITORS Lillian Novak, CGA V.P. of Education and Marketing Margaret Krafft Marketing Administrator

Caine & Weiner 2020 Quarterly Giveaways: January, February, March

Creditor Tips When a Customer Files Bankruptcy

The Robert L. Vodraska Scholarship Foundation Scholarship Application

NACM Connect Groups

Why You Should Use a CLLA Certified Agency

NACM Southwest 2020 Quarterly Giveaways: January, February, March

Find Staff at Midwest Business Staffing

Illinois Construction Stuff and Stuff

15 16

Indiana Best Practices Zoom Discussion Group: Escheatment and Unclaimed Property

Welcome New Members and Reps NACM Connect Installs Air Purification System

In Memoriam: Don Slaby

Nebraska Live ZOOM Presentation: Credit Applications in the Post-Covid World

NACM Connect Mission Statement To provide a forum to its members within the credit profession for education, networking and business resources. Vision Statement Striving to have the most comprehensive and leading NACM affiliate serving the commercial credit profession by consistently exceeding the members’ expectations.

Value Statement We are committed to the highest ethical standards and recognize that our Association must take a leadership role in our profession. Through our integrity and dedication we will earn the respect of our members as we know that our success as an Association depends on their trust in us. By creating strong relationships we will attain the loyalty of our members and alliance partners. We continuously seek to build an environment for learning to enhance the knowledge and expertise of our members.

The InterConnection newsletter is published bimonthly by NACM Connect, a not-for-profit Association affiliated with the National Association of Credit Management. For membership information, visit our website at www. nacmconnect.org, call 800.935.NACM or fax us at 847.253.6685. NACM Connect Headquarters is located at 3005 Tollview Drive, Rolling Meadows, IL 60008.

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Institute of Credit (IOC)

Education Digest

tart the process of earning your professional designation. If you would like more information, please contact the NACM Connect Education Department at 800.935.6226 or email Margaret Krafft at margaret.krafft@nacmconnect.org.

WINTER/SPRING 2021 Tuition Must be Paid Before the First Class Begins.

Online registration only through www.NACMConnect.org. Registrations will not be accepted past the registration deadline. Classes are subject to cancellation based on enrollment. Questions? Contact Margaret Krafft at 847.483.6420 or send an email to margaret.krafft@nacmconnect.org.

CBA

Call for Volunteers, Elite Members, Scholarships and More

Rolling Meadows Basic Financial Accounting Available via Live Videoconference

Thursdays January 7 – March 11

VIA ZOOM Rolling Meadows, IL

Business Credit Principles Available via Live Videoconference

Mondays March 15 – May 17

VIA ZOOM Rolling Meadows, IL

Financial Statement Analysis 1 Available via Live Videoconference

Thursdays March 18 – May 27*

VIA ZOOM Rolling Meadows, IL

CBF

Rolling Meadows Business Law Available via Live Videoconference

Wednesdays March 17 – June 2

VIA ZOOM Rolling Meadows, IL

* No Class on April 15 (Chicago Annual Meeting).

Credit 101, 102 & 103 Rolling Meadows

Credit 101 Available via Live Videoconference

Wednesday, January 6

VIA ZOOM Rolling Meadows, IL

Credit 102 Available via Live Videoconference

Wednesday, February 10

VIA ZOOM Rolling Meadows, IL

Credit 103 Available via Live Videoconference

Wednesday, March 10

VIA ZOOM Rolling Meadows, IL

All Credit 101, 102 &103 classes are from 9 a.m. to 4 p.m.

Exam Review Classes

As always, our January/February issue of the InterConnection contains many applications of interest to our members. Included is a call for volunteers for our next fiscal year which begins on April 1, 2021. We are looking for members interested in serving on the Board of Directors, the various Education Committees and more. We are always looking for new participants with fresh ideas, but the best path to the Board is by participating first on a committee. Our committees weren’t particularly active in 2020 due to all the reasons you are too aware of, but we are hoping to change that in 2021. You will also find applications for our Elite Member program, Credit Executive of the Year both in Chicago and Gateway, and Scholarships for NACM Connect educational events. This is an issue you’ll want to read cover to cover! ■

CBF

February 4

Rolling Meadows, IL

CCE

February 9

Rolling Meadows, IL

CBA

February 11

Rolling Meadows, IL

Rolling Meadows Available via Phone Conference

E AV

TH E D A TE

DESIGNATION EXAM DATES & DEADLINES Exam Dates Monday, March 8, 2021 Sunday, May 16, 2021 at Credit Congress Monday, July 26, 2021 Monday, November 8, 2021

Application and Paperwork Deadlines Friday, January 15, 2021 Friday, March 19, 2021 Friday, May 28, 2021 Friday, September 10, 2021

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JANUARY/FEBRUARY 2021 PAGE 3

LUNCH & LEARN

Emerging Leaders Group is geared towards younger members new to the credit industry!

nacmconnect.org

EMERGING LEADERS “FORECASTING 2021”

FREE ZOOM ROUNDTABLE DISCUSSION WHEN

Thursday, January 21st, 2021 12:00 p.m. CST Via ZOOM Registration Deadline: January 14, 2021

COST

FREE

Questions? Contact Lillian Novak at lillian.novak@nacmconnect.org or call 847.483.6478

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SAVE THE DATE!

March 16 VIRTUAL LEGAL SYMPOSIUM 2021 8 AM â&#x20AC;&#x201D; 5 PM

Questions? Contact Lillian Novak at lillian.novak@nacmconnect.org or call 847.483.6478 THE INTERCONNECTION

JANUARY/FEBRUARY 2021 PAGE 5

Missouri

NACM CONNECT MISSOURI HONORS AND AWARDS NOMINATION Each year the membership of NACM Connect Missouri selects fellow members who are active in the organization and whose outstanding performance and accomplishments have made an impact on the credit profession. All members are encouraged to nominate someone who has displayed exemplary service in the profession. The awards are selected by the Advisory Board and the NACM Connect Staff and will be presented during the NACM Connect Missouri Annual Meeting.

The lists of qualifications are below. Please indicate which award is being selected.  2021 Member of the Year Award

 2021 Credit Excellence Award

• Nominated by members, including self nominations • No professional designation (CBA, etc.) required • Recognizes beginners as well as experienced credit professionals • Can be won multiple times

• Nominated by members, including self nominations • NACM professional designation (CBA, etc.) required • History of involvement with NACM through volunteering on the Advisory Board, Education Committee, teaching/ speaking at educational events including classes, seminars and the annual conference, or serving in another capacity for the betterment of NACM Connect

Nominee Information Name______________________________________________________ Company_____________________________________________ Address ________________________________________________ City ___________________ State ______Zip ___________________ Phone __________________________________________________ Email____________________________________________________ Nominee Qualifications Indicate NACM involvement, credit accomplishments or achievements or other qualifications. (Attach a separate sheet of paper if necessary) __________________________________________________________________________________________________________________ __________________________________________________________________________________________________________________ __________________________________________________________________________________________________________________ Please provide the following information about yourself Name______________________________________________________ Company_____________________________________________ Phone __________________________________________________ Email____________________________________________________

Email to lillian.novak@nacmconnect.org. Nominations Must be Received no Later Than March 31, 2021. THE INTERCONNECTION

JANUARY/FEBRUARY 2021

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NACM Connect

202 1

Annual Call for Volunteers and Nominations minate committee or no Volunteer for a on the e agues to serv one of your colle rectors. Di of d ar idwest Bo NACM/Chicago-M

Deadli

ne Jan ua

BOARD MEMBER NOMINATION

ry 31, 2021

The NACM/Chicago-Midwest Nominating Committee is seeking nominations for the NACM/Chicago-Midwest Board of Directors, the governing board of NACM Connect. Please use this form to submit the name of a member you feel should be considered for a position. Members are also encouraged to nominate themselves. All nominees will be required to submit a summary of information form and a current resumé.

I would like to nominate: Name Company Phone

Nomination made by: Name Company Phone

COMMITTEE VOLUNTEER

Committees are affiliate specific. I would like to volunteer for the following committee(s):    

Chicago Education/Conference GLR Education/Conference Gateway Advisory Gateway Education/Conference

   

KC Education Nebraska Education Wisconsin Education Wichita Education

 New York Education  Scholarship  Pennsylvania Education

Name Company Phone

Submission Deadline: January 31, 2021 Please submit your nomination by email to Lillian Novak at lillian.novak@nacmconnect.org or by fax to 847.253.6241.

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JANUARY/FEBRUARY 2021 PAGE 7

NACM Connect Submit Your Nomination for the NACM Connect-Midwest

Robert M. Healy

2020 Credit Executive of the Year Each year, the membership of NACM Connect-Midwest elects a fellow member whose outstanding performance and accomplishments have made an impact on the credit profession. In order to qualify for a nomination, the credit executive must have a Certified Credit Executive (CCE) designation and be in good standing with the Association. All members are encouraged to nominate someone who has displayed exemplary service in the profession, including teaching, speaking, writing, mentoring, etc. The award will be presented during the NACM ChicagoMidwest Annual Meeting on April 15, 2021.

Nominee Information Name_____________________________________________________________________________________________________ Company__________________________________________________________________________________________________ Address ___________________________________________________________________________________________________ City ________________________________________________________________ State ____________ Zip _________________ Phone ___________________________________________________________Email ___________________________________

Nominee Qualifications (Attach a separate sheet of paper if necessary) ___________________________________________________________________________________________________ ___________________________________________________________________________________________________ ___________________________________________________________________________________________________ Please provide the following information about yourself: Name________________________________________________________ Company ____________________________________

Email this form to Lillian Novak at lillian.novak@nacmconnect.org. Nominations Must be Received no Later Than March 1, 2021 THE INTERCONNECTION

JANUARY/FEBRUARY 2021

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NACM Connect

2021 Elite Membership Nomination Form NACM Connect has a long-term interest in engaging more young people in the Association. To that end, our Elite Membership honors outstanding and exceptional young Credit Professionals. For the fiscal years from April 1, 2021 – March 31, 2023 candidates must be 35-years-old or younger, and be employed by NACM Connect member companies in good standing.

Candidates selected for two-years of Elite Membership beginning April 1, 2021 will receive:

This program will recognize these young Credit Professionals for their service, talent and outstanding commitment. If you have a team member or co-worker that you think deserves extra recognition for their standout qualities, traits and characteristics, please take a few moments to complete this nomination form.

• Free admission to all NACM social events.

• Free membership in NACM Connect as an Elite Member for two years. • Free admission to all NACM Connect educational programs including classes, seminars, webinars, the Annual Meeting and the fall Credit Conference. Classes and seminars offered through videoconferencing are eligible. • Elite Members will be appointed to the Emerging Leaders Committee. • Free admission to other special social/networking events planned for the Elite Membership group and geared for them and their peers.

Nominations will be accepted until January 31, 2021.

• Elite Members will receive extra recognition and introduction at all events, and will be featured in the NACM Connect publication, The InterConnection.

Nominations will be reviewed by the Emerging Leaders Committee and winners will be notified no later than February 28, 2021.

• Elite Members would be required to attend educational sessions at both the Annual Meetings and Credit Conferences in their regions, and will be asked to assist at these events.

Nominee Name _____________________________________________________________________________________________ Title or Position in Company __________________________________________________________________________________ Member Company __________________________________________________________________________________________ Nominee Email ___________________________________________ Nominee Phone ____________________________________ I am making the above nomination for Elite Membership for the following reasons: (attach additional pages if needed.)

Nominations (including nominee’s resume) should be submitted on or before January 31, 2021, to Lillian Novak by mail (address below), or email lillian.novak@nacmconnect.org. Nominated by ______________________________________________________________________________________________ Nominator Email _________________________________________Nominator Phone ____________________________________ The above-nominated candidate for the Elite Membership Program has the full backing of his/her supervisor or manager and the company, and will be allowed to attend Association events, meetings, etc. that may take them away from their regularly scheduled work hours. Signature of Supervisor or Manager ____________________________________________________________________________

Members will be notified by the Emerging Leaders Committee no later than February 28, 2021. Self-nominations are not allowed. NACM Connect  3005 Tollview Drive  Rolling Meadows, IL 60008  P: 847.483.6400  F: 847.253.6685  www.nacmconnect.org

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Caine & Weiner Giveaway

$150

2021 Quarterly Giveaways

JANUARY | FEBRUARY | MARCH Place a collections claim with Caine & Weiner anytime during the months of January, February and March and become eligible to win a $150 NIKE gift card.

Each claim you place will be eligible for the drawings. Enter as often as you like! For information on placing claims, please contact Jim McGee at 847.407.2348. You may also place a claim online at www.caine-weiner.com.

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News

Creditor Tips When a Customer Files Bankruptcy is done, any motion in the case will come directly to you and avoid a lockbox situation. Hiring an attorney to represent you and get copies of documents is also an option, and recommended in complex cases.

Michael Miller, Managing Editor, NACM

he storm has been weathered, and businesses have stayed afloat for as long as possible in some cases. However, government assistance and other programs have run dry, placing businesses with a financial burden and a potential decision ahead. According to the American Bankruptcy Institute, commercial Chapter 11 bankruptcy filings increased 46% in November compared to November 2019. November 2020 data is also 19% above the previous month. Lynnette Warman, Esq., with Culhane Meadows PLLC, presented a webinar, “How to Rapidly Assess a Bankruptcy Case Using 10 Key Points,” discussing the main factors credit professionals should take note of when a customer files for bankruptcy. The key points (some combined below) were broken down by the size of the bankruptcy as well as overall tips that credit departments must take into consideration when a customer files for bankruptcy. Tip No. 1—Watch your customers for signs of distress. Some obvious signs of distress include slow payments and nonpayment of invoices as they become due. Statements from customers such as, “Money is tight,” or promises to catch up on payments are also red flags moving forward. Other factors to watch out for are if the customer has been shut down or saw slowed business due to COVID-19 restrictions and if the lender has stopped providing funding; however, this can be tricky, noted Warman. Tip No. 2—Get notice of bankruptcy filing as soon as you can. How can credit departments be on top of their game with bankruptcy notices? Google alerts and internet searches are not foolproof, but they are a way to

Tips Nos. 4, 5, 6—Critical documents and information. receive information directly. Warman also mentioned NACM industry trade groups as another place to learn about customer bankruptcies. An oral notice—this needs to be confirmed as customers may tell creditors of the filing but may not have actually filed—and a written notice from the customer are also potential information sources. Credit departments can ask their customer for a case number and the name of the court where the bankruptcy was filed. Creditors can also sign up for electronic notices through the bankruptcy noticing center through the U.S. Courts’ website. Having documents in place as soon as possible is important as well. Most large cases will have a local website created and serviced by a servicing agent appointed by the bankruptcy court. “These websites are a goldmine for information,” said Warman. Often, in larger cases, the proof of claim will be filed through the servicing website rather than the court. These websites also provide general information including information on the U.S. Trustee, the case number and professionals employed by the debtor. “It’s a treasure chest of information that creditors can access, generally, immediately after the case is filed and without cost.” Tip No. 3—Getting information from small cases… …is never easy. Creditors can ask customers to send copies of documents or ask the customer’s attorney to send documents. Once a proof of claim is filed, direct that notices be sent to you. Once that

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In a voluntary petition, look for the exact name of the filer—is it your customer? It might be another business within the same corporation. Warman suggested to check the EIN. For an involuntary petition, find out the exact name of the filer as well, and petitioning creditors, in smaller cases, sometimes have the largest claims in the case. Despite previously being filed a couple weeks after the case is filed, it is now common for the filing of a schedule of claims and assets to be filed later in the case. This gives creditors an opportunity to see how much the company has in assets and liabilities and if they are listed as a creditor by the debtor, said Warman. The statement of affairs, also filed later in the case, gives information such as income in the year of the bankruptcy up until the petition date as well as the company’s revenue the year before that. Operating reports are filed every month starting with the month after the case is filed. This is a snap shot of all financial information of what happened in the last month—copies of bank statements are important here. In smaller cases, the debtor may tell you they have plenty of money and you should ship products, but looking at the operation report can show a different story. This could show that there might not be much hope you’ll be paid for shipment if you make it, said Warman. In medium to large cases, typically, you’ll see a DIP financing motion because companies can’t operate solely based on the cash they Continued on page 22>> JANUARY/FEBRUARY 2021 PAGE 11

NACM Connect

The Robert L. Vodraska

Scholarship Foundation SCHOLARSHIP APPLICATION

Please complete all sections of this application to be considered for a scholarship. Please print or type. Applications must be mailed to the NACM Connect Headquarters office at 3005 Tollview Drive, Rolling Meadows, IL 60008 or emailed as an attachment to lillian.novak@nacmconnect.org between January 1 and March 1. Applications must be dated on or before March 1, for consideration of scholarships for the fiscal year commencing April 1. An online scholarship application can be accessed at www.nacmconnect.org. Applications are encouraged from members who do not have available to them employer-sponsored reimbursement programs.

Contact Information Name_____________________________________________________Title __________________________________________________________ Company _______________________________________________________________________________________________________________ Mailing Address ______________________________________________ City_______________________ State _________Zip ________________ Phone: __________________________________________________ Email: __________________________________________________________

Reason or Need for Scholarship

Candidate may attach additional pages if needed.

Please indicate your intended use for the scholarship funds if they are awarded to you. Please be very specific: _ Regional Credit Conference _ Seminars _ Webinars

_ Credit 101 _ Credit 102 _ Credit 103

_ Business Credit Principles _ Basic Financial Accounting _ Financial Statement Analysis I

_ Business Law _ Credit Law _ Review Classes/Testing Fees

Explain how a scholarship will help you achieve your academic and/or career goals. _______________________________________________________________________________________________________________________ _______________________________________________________________________________________________________________________ _______________________________________________________________________________________________________________________ _______________________________________________________________________________________________________________________ _______________________________________________________________________________________________________________________ Does your employer pay for education? _ Partial

_ Full

_ No

Have you ever attended or completed the event/selection for which you are requesting a scholarship? _______________________________________________________________________________________________________________________ _______________________________________________________________________________________________________________________ Are you currently working in the credit industry? If so, how long? ________________________________________________________________

Education Name of College or University ____________________________________________Number of years completed _______ Degree earned _____ Name of College or University ____________________________________________Number of years completed _______ Degree earned _____

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NACM Connect The Robert L. Vodraska

Scholarship Foundation SCHOLARSHIP APPLICATION

Courses Courses (not part of your degree above) and seminars completed within the last two years: Course Title

Course Sponsor or Institution

Date Completed (mm/dd/yy)

Candidate may attach additional pages if needed.

Professional Designations _ CBA

_ CBF

_ CCRA

_ CCE

_ CICP

_ ICCE

_ Other

Please list other designations: _______________________________________________________________________________________________________________________ _______________________________________________________________________________________________________________________

NACM Involvement Please contact Janet Raap at janet.raap@nacmconnect.org for a transcript request on past NACM Connect events and classes attended. Name of NACM affiliate in which you/your company hold primary membership: ____________________________________________________ Other NACM family of organizations memberships, including credit groups: ________________________________________________________ _______________________________________________________________________________________________________________________ Number of years as an NACM member: ______________________________________________________________________________________ NACM involvement in the past five years: Include information about service on an NACM committee, task force or Board of Directors (NACM includes NACM-National, FCIB, CFDD National, NACM Affiliates and CFDD Chapters.) Be sure to provide date information (for example, May 2014 – June 2016) when listing terms of service. Also include information about participation in NACM sponsored conferences and programs. Local Involvement

Regional Involvement

National Involvement

_______________________________________________________________________________________________________________________ _______________________________________________________________________________________________________________________ _______________________________________________________________________________________________________________________ We reserve the right to interview applicants. I ______________________________________________________ , attest to the validity of the information within this application to the best of my knowledge. False or misleading information or statements are grounds for disqualification from the scholarship process and ineligibility in the program indefinitely. Applicant’s name (representing signature) _____________________________________________________ Date __________________________ TERMS AND CONDITIONS: 1. Scholarships can be used for NACM Connect sponsored class or seminar fees, Credit Conference, Annual Meeting, fees for credit certification testing, and the NACM Connect Institute of Credit certification review classes. Scholarships are not valid for Credit Congress. 2. Applicant must complete class and pass with a minimum grade of “C” or reimburse the Scholarship Foundation for course fees. 3. Course must be successfully completed within one year or less from date of award. 4. Applications will be reviewed and awarded by the NACM Connect Scholarship Committee.

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NACM Southwest Giveaway

$150

2021 Quarterly Giveaways

JANUARY | FEBRUARY | MARCH Place a collections claim with NACM Southwest anytime during the months of January, February and March and become eligible to win a $150 NIKE gift card.

Each claim you place will be eligible for the drawings. Enter as often as you like! For information on placing claims, please contact Kelly Hall at 317.225.4281. For more information visit www.nacmconnect.org.

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News

Illinois Construction Stuff and Stuff Norm Cowie, CCE

were an MBE and a distributor, so there was also a resale certificate.

But the application, though hastily filled out, had very distinctive writing with a weird combination of upper- and lowercase letters. Certain letters were very distinctive, especially the “P” and more especially the “R” and most especially the capital “E,” which looked almost like some ancient Egyptian symbol.

Booya! Good for you, Kelli! I was very happy and satisfied that she noticed and pointed it out. It’s always gratifying when someone under your guidance and training puts their investigative and observational powers to use rather than blindly following procedures.

Then I turned my attention to the credit references. One of their references hadn’t responded to our requests, probably because we didn’t put RUSH, URGENT, ORDER-PENDING !!! on our request, even though we did, in fact, have a pending order and a salesperson eager for us to open the account. My bad. So, I checked out the other two references, neither of which had a fax number, only email addresses. One of them reported a high credit of $210k paid in an average of 30 days, the other a high of $355k also paid in exactly 30 days.

hen Kelli emailed the credit application to me for my approval, she added a little note saying, “I noticed the person who filled out the credit application and one of the credit references have the same exact handwriting.”

Even without this, I would have been extra cautious with this application anyway, because I recognized the company and had denied credit to them in 2005. I also knew one of our competitors sold to them and reported them as chronically slow in 2015 and that the principal had once filed an assignment for benefit of creditors for another company he had owned with a very similar name. How did I know all of this, you ask? Well, if you’ve been reading my column, you’ll know that I have a system for keeping track of accounts that come up in our Electrical Distributor’s Group, or in the Merritt reports or our own history. I need this because I have the memory skills of a waffle iron. But back to the applicant. Just because someone has bad history doesn’t mean they haven’t cleaned up their act. I’ve even reopened accounts I’ve sued or found a way to sell to accounts with a troubled history. I believe people can learn by mistakes, so let’s see if this guy did the same. But Kelli’s warning made me think it wouldn’t be the case here. I started with the application which looked as if it was filled out by someone who had to pee. It was accompanied by a separate printed sheet with their references, bank, EIN, D&B and bank info. The principal refused to sign the guarantee, which didn’t surprise me, as his personal credit was a train wreck the first time he applied with us. They

Wow! Nice. What a great paying company, right? Except there was the handwriting similarity Kelli had pointed out on the second one, a company supposedly in Georgia. She was right, the “P”, “D” and Egyptian capital “E” exactly matched the handwriting along with the same crazy mix of upper- and lower-case letters. While I hadn’t doubted Kelli’s judgment, I agreed with her. The same person wrote the reference and credit application. I knew my answer to their credit request already, but

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the sleuth in me wasn’t ready to let go yet. I decided to check out the references and see if the companies actually existed. I do this quite frequently when a credit reference gets my suspicions up. The first was supposedly in Chicago. I checked the Illinois Corporation website, and nope, nothing. Merritt had nothing either and there was zero web presence. It’s possible, I guess, for it to be a proprietor, which wouldn’t be in the corporate databases. But I was pretty sure it was just a made-up entity, especially because they claimed to have been selling to our applicant for half a decade, and if they could grant a quarter million dollars to our applicant, they would have to at least be mildly substantial. The second was allegedly in Georgia. A quick check and I was happy to see Georgia’s corporations were searchable. And their answer was the same, no such business was incorporated there. Nor did they have any mention in the web. Another fake. Meanwhile I shot an email to our distributor’s group to see if anyone had history with our applicant. Only one replied, the one I knew had sold to them before. Their account was very slow paying with chronic delinquency. Way different than the two wonderful glowing references we’d been given. The thing you don’t know yet because I haven’t told you is the pending sale our salesperson was hot about was for material that would be resold to one of our current customers for minority reasons. So, I told our salesperson I would be willing to approve this but only under the condition Continued on page 22>>

JANUARY/FEBRUARY 2021 PAGE 15

Member News

Welcome New Members & Reps NEW REPRESENTATIVES

Anco Steel Bill Koehler C&S Wholesale Grocers Inc. Yekaterina Marchenko EarthQuaker Devices Karl Vorndran Echo, Inc. Kimberly Nagel Ferguson Enterprises Cindy Olimpio Garda World George Ulses

Mark Bussen 20328Midwest Group

George Specht Lehigh Anthracite LP

Kyle Patrick Access One, Inc.

Shea McClain LEWCO, Inc.

Demetrice Jordan ATF, Inc.

Ken Wallingford Nesco Rentals

Stephanie Donlan Bell Techlogix

Melissa Gibson North Star Bluescope Steel LLC

Michael Belsito Bennett Supply of Ohio LLC

Gail Pinkerton Pacemaker Steel & Piping Company Inc.

Melody Ferguson Carboline Company

Hughes Peters Melody Fryman

Logan Kauffman CHI Overhead Doors

Keeney Holdings LLC Linda Baedor

Lindy Wesney Company Wrench, Ltd.

NS Design Angelica Wilson Orange Music Electronic Company Inc. Madelin Pupillo Robert F. Nicholson, CCE Robert Nicholson Stericycle, Inc. Dorothy Kapetan

Carol Knudson Crane Composites Inc. Tanya Lewis Echo, Inc. Karen Brown Essendant Mike Haskell Fifth Wheel Freight

Stericycle, Inc. Wanda Perez

Dan Keister Formica Corporation Jeffrey Golly GPA Todd Fischer Hussmann Corporation Amy Garnett Klein Tools Inc.

Tim Yetter Paychex, Inc. Patti Hoffman Performance Foodservice - Fox River Lacretia Smith Profile Food Ingredients Lesley Zita Ryerson Canada Inc. Bobbie Churchill Shively Brothers Inc. Eugene Mitchell Transport Investments Inc. Amy Lavery Ultrafab Inc. Mike Diebolt Vibracoustic Brittany Beck Watlow Electric Manufacturing Co. Michael Lohff Will Electronics Inc.

e m lco rs

b m rs e e b MeewmM w e N N

THE INTERCONNECTION

JANUARY/FEBRUARY 2021

PAGE 16

News

NACM Connect Virtual Conference Wrap-Up << Continued from page 1 Mary Beth Owens, ICCE, Senior Director of Credit & Customer Metrics, Waxman Consumer Products, Bedford Heights, OH, had this to say, “The pandemic this year resulted in so many changes and one of them was the virtual attendance at the NACM Connect Fall Conference. On a positive note, I was able to attend the conference since I could basically listen to the sessions on my own time. It was easier on both time and budget restrictions. At first I was a little leery of virtual conferences, but I have to say I have now embraced them. Having so many sessions recorded meant that I could attend at my own time, and if I had any questions, I could follow up via emails. I thought

the sessions were great and I still have a few I want to listen to. Thanks for the time extension. The topics were current and the presenters were well prepared and kept my interest. I think this was a great educational opportunity and hope the virtual option will continue even when travel restrictions are lifted. Although I miss the personal contact with presenters, Connect staff and peers, having a virtual conference that I could attend over several months was a great win for me. I also gained so much knowledge that I feel I can easily justify future attendance.” What our takeaway is from this experience is that going forward we must find a way to bring education to

our members both live and virtually. If all goes well and we are back to live meetings next fall, we are committed to bringing the October Chicago-area conference to our membership as a hybrid event. In closing, I’d like to thank the Education Committee for their help in planning and participating in the event as speakers, our partners for exhibiting and letting our members know what value they bring to the credit industry, to our speakers whose contribution made the event worthwhile for our members, and especially to our members who had the faith in us to deliver a world class event in some trying circumstances. ■

NACM Connect Installs Air Purification System

he Executive Committee of the Board of Directors of NACM/ Chicago-Midwest has approved the installation of an air purification system for the building housing the Association headquarters in Rolling Meadows, IL and that of our tenant’s building in the same location. For NACM Connect, this means that we can offer our members an additional layer of safety when we once again open the headquarters to live education and other events and meetings. Installation should take place before the end of January.

and negative ions through the ventilation system which adhere to the particles and render them inactive. The system has been proven to kill the Covid-19 coronavirus. We are thrilled to be able to bring this technology to our headquarters not only for our members but for the safety and health of our staff. ■

Without getting into the technical specifics, the system cleans pathogens in the air by introducing both positive

THE INTERCONNECTION

In Memoriam It is with deep sadness that we report that our long-time member and friend, Don Slaby, passed away on December 1, 2020 after a long battle with multiple myeloma. Don’s credit career covered 28 years with Eastman Kodak as a Regional Credit Manager and 9 years with Abbott Labs as Director of Corporate Credit. He was an active supporter of NACM Connect and encouraged his staff to be engaged as well. Don also served as the Chairman of the Credit Research Foundation. Anyone that knew Don, even if just for a moment, also knew he was a die-hard Nebraska football fan. He will be missed. ■ JANUARY/FEBRUARY 2021 PAGE 17

Credit Group Meeting Calendar NACM Connect - Illinois/Wisconsin Local Industry Credit Group Meetings DATE

GROUP

MEETING LOCATION

January 12

Electrical Distributors Credit Group

Zoom

January 13

Institutional Credit Association Credit Group

Zoom

January 14

Northern Illinois Plumbing & Heating Wholesalers Credit Group

Zoom

January 19

Metal Distributors Credit Group

Zoom

January 20

Floor Covering & Wall Tile Credit Group

Conference Call

January 21

Ad Media Credit Group

Zoom

January 21

Builders Suppliers Credit Group

Zoom

January 28

Basic Material Credit Group

Zoom

February 9

Masonry Credit Group

Zoom

February 11

Northern Illinois Heating & Plumbing Wholesalers Credit Group

Zoom

February 16

Electrical Distributors Credit Group

Zoom

February 16

Metal Distributors Credit Group

Zoom

February 16

International Credit Professionals Group

Zoom

February 17

Floor Covering & Wall Tile Credit Group

Conference Call

February 18

Ad Media Credit Group

Zoom

February 25

Basic Material Credit Group

Zoom

NACM Connect - Missouri/Kansas Local Industry Credit Group Meetings DATE

GROUP

MEETING LOCATION

January 14

Kansas City Building Materials Credit Group

TBD

January 15

Mid Missouri Construction Credit Group

TBD

January 19

Midwest Regional Food Credit Group

Conference Call

January 20

Gateway Electrical Credit Group

TBD

January 22

Refrigeration Warm/Cool Air Suppliers Credit Group

TBD

February 4

Central Illinois Electrical Credit Group

TBD

February 11

Kansas City Building Credit Group

TBD

February 16

Caterpillar Dealer Group

Zoom

February 16

Midwest Regional Food Credit Group

Conference Call

February 17

Electrical Distributors Credit Group

TBD

February 19

Refrigeration Warm/Cool Air Credit Group

TBD

NACM Connect - Nebraska Local Industry Credit Group Meetings DATE

GROUP

MEETING LOCATION

January 12

Nebraska Builders Credit Group

Conference Call

February 9

Nebraska Builders Credit Group

Conference Call

THE INTERCONNECTION

JANUARY/FEBRUARY 2021

PAGE 18

Credit Group Meeting Calendar NACM Connect Indiana/Michigan/Ohio Local Industry Credit Group Meetings DATE

GROUP

MEETING LOCATION

January 7

Michiana Credit Association

Zoom

January 12

Fort Wayne Building Materials Credit Group

Conference Call

January 12

Electric Industrial Supply Credit Group

Conference Call

January 13

West Michigan Heating & Plumbing Wholesalers Credit Group

Conference Call

January 14

Indiana Wholesale Floor Covering Credit Group

Conference Call

January 14

Lumber & Building Materials Credit Group

Conference Call

January 14

Columbus Wholesale Electric Supply Credit Group

Conference Call

January 19

Indiana Electrical Suppliers Credit Group

Conference Call

January 19

Automotive Suppliers Credit Group

Conference Call

January 20

Metal Service Center Credit Group

Conference Call

January 20

Indianapolis Building Trade Suppliers Credit Group

Conference Call

January 21

Michigan Electric Supply Credit Group

Conference Call

January 21

Cincinnati Dayton Wholesale Electric Credit Group

Teams

January 27

Plumbing & Heating Wholesalers Credit Group

Conference Call

January 27

Cleveland/Akron/Canton Food Suppliers Credit Group

Zoom

January 27

Cincinnati Construction Suppliers Credit Group

Conference Call

February 9

Electric Industrial Supply Credit Group

Conference Call

February 9

Fort Wayne Building Materials Credit Group

Conference Call

February 10

West Michigan Heating & Plumbing Wholesalers Credit Group

Conference Call

February 11

Columbus Wholesale Electric Suppliers Credit Group

Conference Call

February 11

Michiana Credit Association Credit Group

Zoom

February 16

Indiana Electrical Suppliers Credit Group

Conference Call

February 16

Automotive Suppliers Credit Group

Conference Call

February 17

Metal Service Center Credit Group

Conference Call

February 17

Indianapolis Building Trade Suppliers Credit Group

Conference Call

February 18

Michigan Electric Supply Credit Group

Conference Call

February 18

Cincinnati Dayton Wholesale Electric Credit Group

Teams

February 24

Cleveland/Akron/Canton Food Suppliers Credit Group

Zoom

February 24

Plumbing & Heating Wholesalers Credit Group

Conference Call

February 24

Cincinnati Construction Suppliers Credit Group

Conference Call

NACM Connect - Pennsylvania Local Industry Credit Group Meetings DATE

GROUP

MEETING LOCATION

January 13

Building Trades Credit Group

Conference Call

January 19

Construction/Plumbing & Heating Credit Group

Conference Call

January 20

Food Suppliers Credit Group

Conference Call

January 26

Electrical Suppliers Credit Group

Conference Call

February 10

Building Trades Credit Group

Conference Call

February 16

Construction/Plumbing & Heating Credit Group

Conference Call

February 17

Food Suppliers Credit Group

Conference Call

February 23

Electrical Suppliers Credit Group

Conference Call

THE INTERCONNECTION

JANUARY/FEBRUARY 2021 PAGE 19

Credit Group Meeting Calendar NACM Connect National Industry Credit Group Meetings DATE

GROUP

MEETING LOCATION

January 12

National Professional Apparel Credit Group

Zoom

January 14

National Horticultural Credit Group

Zoom

January 14

National RV/Manufactured Housing Credit Group

Zoom

January 19

National Musical Instruments Credit Group

Zoom

January 20

National Water Products Credit Group

Zoom

January 21

National Garage Door & Operating Devices Credit Group

Zoom

January 22

Meatpackers of America Credit Group

Zoom

January 27

National Home Healthcare Credit Group

Zoom

January 28

National Nursing Home Suppliers Credit Group

Zoom

January 28

National Foodservice Distributors Credit Group

Zoom

January 28

National Tool & Accessories Manufacturers Credit Group

Zoom

February 9

National Construction Credit Group

Zoom

February 9

National Architectural Metal & Glass Credit Group

Zoom

February 9

National Metal Industry Raw Material Credit Group

TEAMS

February 10

Northeast Regional Metal Distributors Credit Group

TEAMS

February 15

National Plumbing, Pipe & Heating Credit Group

TEAMS

February 17

National Home Centers & Building Materials Credit Group

Zoom

February 18

National Coated Paper & Film Credit Group

Zoom

February 18

National Consumer Products Credit Group

TEAMS

February 18

National Christian Suppliers Credit Group

Zoom

February 18 & 19

National Steel Mill Credit Group

Zoom

February 25

National Metal Buildings & Components Credit Group

Zoom

NACM Connect - New York Local Industry Credit Group Meetings DATE

GROUP

MEETING LOCATION

January 8

Buffalo Building & Construction Credit Group

Conference Call

January 12

Western NY Food & Beverage Supply Credit Group

Conference Call

January 13

Rochester Plumbing & HVAC Credit Group

Conference Call

January 19

Central New York Building Credit Group

Conference Call

January 21

Rochester Building Credit Group

Conference Call

January 26

Buffalo Plumbing & Electric Credit Group

Conference Call

February 9

Western NY Food & Beverage Supply Credit Group

Conference Call

February 10

Rochester Plumbing & HVAC Credit Group

Conference Call

February 12

Buffalo Building & Construction Credit Group

Conference Call

February 15

Albany New York Building Credit Group

Conference Call

February 16

Central New York Building Credit Group

Conference Call

February 18

Rochester Building Credit Group

Conference Call

February 23

Buffalo Plumbing & Electric Credit Group

Conference Call

THE INTERCONNECTION

JANUARY/FEBRUARY 2021

PAGE 20

Event Calendar TIME

PRESENTER / INSTRUCTOR(S)

Zoom Videoconferencing

9:00 a.m. – 4:00 p.m.

Dave Condon, CCE

NACM Connect Basic Financial Accounting (10 weeks)

Zoom Videoconferencing

5:30 p.m. – 8:30 p.m

Curtis Litchfield, CCE

January 12

NACM Connect Credit Applications in the Post-Covid World

Zoom Videoconferencing

1:00 p.m. – 2:00 p.m.

Brian Jackiw Tom Fawkes

January 21

NACM Connect Emerging Leaders Roundtable

Zoom Videoconferencing

12:00 p.m.

Various

February 10

NACM Connect CREDIT 102

Zoom Videoconferencing

9:00 a.m. – 4:00 p.m.

Dave Condon, CCE

February 4

NACM Connect Illinois CBF Exam Review

Phone Conference

5 p.m. – 8 p.m

John Jaeger, CCE

February 9

NACM Connect Illinois CCE Exam Review

Phone Conference

5 p.m. – 8 p.m

John Jaeger, CCE

February 11

NACM Connect Illinois CBA Exam Review

Phone Conference

5 p.m. – 8 p.m

John Jaeger, CCE

February 18

NACM Connect Indiana Best Practice Discussion Group

Phone Conference

11:30 a.m. – 1:00 p.m. EST

Cassie A. Nielsen

DATE

EVENT

LOCATION

January 6

NACM Connect CREDIT 101

January 7

You’re the Expert! When you participate in the Credit Managers’ Index, you are contributing to a leading economic indicator. It only takes a minute—no math is involved. Just indicate if something is better, the same or worse than the month before. Sign up today for our monthly email reminder to participate.

Listen to NACM Economist Chris Kuehl, Ph.D., discuss the latest CMI and give his view of what’s to come. bcm.nacm.org/index.php/podcasts

THE INTERCONNECTION

JANUARY/FEBRUARY 2021 PAGE 21

News

Creditor Tips When a Customer Files Bankruptcy

Illinois Construction Stuff and Stuff

<< Continued from page 11

<< Continued from page 15

generate. Most of the time, they need a bit of a loan, noted Warman, who also mentioned to look out for a budget that the bankruptcy court provides on how the cash will be used. Creditors can review to see what the debtor is proposing to pay unsecured creditors. Benchmarks must also occur for the debtor to continue using the cash—file the plan by a certain date, sell assets by a certain date, etc. Failing to hit the benchmarks results in the loss of the ability to borrow money unless the lender agrees to an extension. Small cases have the same problems as big cases just less money involved. Something new this year is the revision of the code with the Small Business Reorganization Act/Subchapter V of the Chapter 11 code. The passing of the CARES Act earlier this year also raised the debt ceiling under the new subchapter to $7.5 million. What this means is there will not be creditors’ committees appointed and the disclosure statement and plan can be joined in one document and heard at one hearing, Warman said. Tips Nos. 7, 8, 9—What to look for in documents. Among the items to search for in a voluntary/involuntary petition is what chapter of the bankruptcy code is being followed. Also important is to confirm that the debtor or related filing entity is your customer. If the debtor is not the customer but rather a related company in the corporation, legal advice may be the best way to proceed. Warman’s example of this was if you ship to one company but are being paid by another. In medium to large cases, the declaration or affidavit will show the cause of filing and whether the business is still operating—creditors will need to know this before shipping. In smaller cases, creditors will want to look to see if the customer has any secured debt and how they are proposing to pay for goods or services delivered after the case is filed.

Tip No. 10—Calculate your claim and evaluate risk. Gather all documents related to the claim and related contracts and make sure they are all in order. Review all outstanding invoices and reduce the claim by any agreed returns or credits. Determine whether the customer has disputed any part of the claim and determine whether you agree with the dispute. Identify whether the claim is secured by any lien or retainage as well. Identify potential issues such as a preference claim. Do you have any unsecured claims, did you receive payment within 90 days of the petition date, was the payment made on an outstanding invoice or was it a payment in advance or at the time of delivery? These are all questions Warman said creditors need to ask themselves. The top priority is to get your documents in order and analyze your claim. Large claims or problems with documents might require legal advice even before filing a proof of claim. If the debtor demands that you provide goods and services post-petition, demand to see copies of motions approving the use of cash collateral or DIP loan with the proposed budgets. “Bankruptcy cases move a lot faster than most everything else. You have to be careful if pulled into a bankruptcy case,” Warman said. “Bankruptcy cases are now moving at warp speed; it’s not uncommon to see a case filed and on the first day there’s a motion to sell all assets…if you see a motion to approve bid procedures or a sale of assets, you have to act extremely quickly.” ■

THE INTERCONNECTION

they agree to a joint check agreement where all parties would see all invoices as they occur. I prepared the joint check agreement, but then I received a phone call from the President of the applicant. He was pleasant and, well, presidential, particularly compared to current standards, and asked in a stern presidential manner, “Why didn’t you approve my credit? We’re a $20 Million dollar firm with excellent D&B and credit references.” “Which you wrote yourself, I thought to myself, but didn’t say. Instead, all I said mildly was, “I’m sorry, but it did not meet our requirements for open credit. We’d be happy to do a joint check agreement.” “I’m not going to do that,” he said. “We’ll just pay cash for this.” And he hung up, though in a presidential way. There was no way I was going to tell him that we knew he had written his own references, because I didn’t want him to get smarter and fool another credit manager down the line. Hope the next credit manager is paying attention. Norm (BTW, I’ve got a new book out, MOONED, a young adult book adults can read about a dog and cat turned into were humans by their werewolf master. Fun action. Check it out on Amazon.)■ Norman Cowie, CCE is Director of Credit for Paramont-EO, Inc. Besides his regular column for InterConnection, he has written articles appearing in the Chicago Tribune, Cynic Magazine, Business Credit and the Herald News. His current book titled, "The Illinois Mechanics Lien Statutes … and other construction stuff" is available for sale through NACM Connect. He also has ten published humor/ fantasy novels, some through traditional publishers Echelon Press, Quake Books and Draumr Publishing, although more recently he has transitioned over to Indie publishing. Norm can be reached at norm.cowie@paramont-eo. com, or feel free to visit him at www.normcowie.com which features past NACM Connect articles.

JANUARY/FEBRUARY 2021

PAGE 22

NACM Connect Credit Reporting Solutions

ACCESS ALL

THE SOLUTIONS IN ONE PLACE Shop and compare all these credit Bureaus with one contact person. Be sure to ask about our FREE trial offers.

We provide a full suite of credit reporting solutions exclusively to NACM Connect members at deep discount pricing. We pass big savings to you through our volume purchasing and National Buying Discount. We assist with setup, training and support for all products and solutions. Let us help you increase efficiency, reduce costs and maximize profitability for your organization.

INTERNATIONAL OPTIONS

U.S. OPTIONS OPTION

OPTION

OPTION OPTION

OPTION

OPTION OPTION

(CONSUMER) OPTION OPTION

(CONSUMER) OPTION

Questions? Contact Craig Smith @ craig.smith@nacmconnect.org or call 847.483.6484 THE INTERCONNECTION

JANUARY/FEBRUARY 2021 PAGE 23

Institute of Credit (IOC)

Institute of Credit 3005 Tollview Drive Rolling Meadows, IL 60008 Phone: 847-483-6478 Fax: 847-253-6241 nacmconnect.org

2021 Course Schedule All courses are available through live videoconferencing! CBA COURSES Basic Financial Accounting (10 weeks)

Thursdays January 7 – March 11

Business Credit Principles (10 weeks)

Mondays March 15 – May 17

Financial Statement Analysis I (10 weeks)

Thursdays March 18 – May 27*

CBF COURSES Business Law (12 weeks)

Wednesdays March 17 – June 2

* No Class on April 15 (Chicago Annual Meeting).

COURSE FEES Member – $450 (plus textbook fee**) Two coupons are valid per person.

Non-Member –$900 (plus textbook fee**)

**Additional rush charges may occur if registration is not submitted two weeks prior to start of class.

Evening Class Times: 5:30 – 8:30 p.m. As a remote student, you can take live classes via our videoconferencing platform from the comfort of your home or office.

Questions?

Contact Margaret Krafft at 847.483.6420 or margaret.krafft@nacmconnect.org

Tuition Must be Paid Before the First Class Begins.

All registrations for NACM Connect educational events are taken online at nacmconnect.org Absolutely no registrations will be accepted after one week prior to the class date. No exceptions. All testing must be done during regular business hours unless you are taking class in Rolling Meadows. Contact Lillian Novak for exceptions. While registering online, you will have the opportunity to choose your payment method. We are happy to take a credit card online or invoice you. You will also have the opportunity to apply coupons as allowed.

Classes are subject to cancellation based on enrollment. Questions? Contact Lillian Novak at lillian.novak@nacmconnect.org or call 800.935.6226 THE INTERCONNECTION

JANUARY/FEBRUARY 2021

PAGE 24

Credit 101, 102 and 103

Members: $230 (per class) Non-Members: $460 (per class) Two coupons are valid per person

All classes are from 9 a.m. – 4 p.m. CST Location: Zoom Classroom

CREDIT 101

CREDIT 102

CREDIT 103

January 6

February 10

March 10

May 5

June 9

July 14

September 8

October 6

November 10

Zoom Classroom Questions?

Contact Margaret Krafft at 847.483.6420 or margaret.krafft@nacmconnect.org All registrations for NACM Connect educational events are taken online at nacmconnect.org While registering online, you will have the opportunity to choose your payment method. We are happy to take a credit card online or invoice you. You will also have the opportunity to apply coupons as allowed.

Please Note: • • • •

Payment must be received one week prior to class date “No Shows” will be responsible for full amount Classes subject to cancellation based on enrollment 0.6 CEUs available

Cancellation Policy: Cancellations must be received in writing (via fax, email or mail) no later than one week prior to the class date to qualify for a full refund. Cancellations received later than one week prior to the class date do not qualify for a refund of registration fees. Sorry, phone cancellations cannot be honored. A 20% surcharge applies to late registrations and rebooking. If you have any questions, email info@nacmconnect.org.

JANUARY/FEBRUARY 2021 PAGE 25

NACM Connect Industry Groups

Have We Gotta Group for You! Make better choices, reduce outstanding delinquent receivables and write-offs by joining a group today! New groups are formed every day!

Join Today! NATIONAL

• Agricultural Credit Conference • Architectural Metal & Glass • Auto Glass • Circuit Board Suppliers • Christian Suppliers • Coated Paper & Film Manufacturers • Construction • Consumer Products Manufacturers • Electrical Manufacturers • Firearms & Ammunition • Foodservice Distributors • Garage Door & Operating Devices Manufacturers

• Home Centers & Buildings Materials • Home Healthcare Suppliers • Horticultural Distributors • International Flat Rolled Steel • Leisure Living Manufacturers • Lawn & Garden • Manufactured Housing • Meat Packers • Metal Buildings & Components • Metal Industry Raw Material Suppliers

• Metal Producers • Musical Instruments • Nursing Home Suppliers • Paper Packaging • Plumbing, Pipe & Heating

Manufacturers • Professional Apparel Manufacturers • Steel Mill Industry • Tool & Accessories Manufacturers • Truck, Trailer & Waste Equipment Manufacturers • Underground Utilities • Water Products

Network with other credit executives in your industry by joining an NACM Connect Industry Credit Group. Group members share invaluable factual credit information that may be used to make independent decisions with respect to the extension of credit. Discussions include shared information on common customers, the latest in technology for credit management and other creditrelated topics. Group members have access to expanded tradeline data from over 25 additional NACM affiliates participating in this valuable database enhancement at no cost. Group activities are monitored by NACM trained and certified administrators to ensure compliance with the Federal Antitrust Regulations.

Contact Themis Vlahos, CCE, CGA, Director of Group Services at (800) 935-6226 x6428 or themis.vlahos@nacmconnect.org ILLINOIS | NEBRASKA | WISCONSIN • Advertising Media • Basic Material • Building Suppliers • Electrical Distributors • Floor Covering & Wall Tile • Institutional Credit Association • International Credit Professionals • Masonry • Metal Distributors • Northern IL Heating & Plumbing Wholesalers • Nebraska Builders & Industrial Suppliers • Wisconsin Best Practices MISSOURI

• Agricultural • Caterpillar Dealers • Central Illinois Electrical Distributors • Electrical Distributors • Kansas City Building Materials • Mid Missouri Construction • Midwest Regional Food Service & Supply Purveyors

• Refrigeration & Warm/Cool Air Suppliers

INDIANA | MICHIGAN | OHIO • Automotive Suppliers • Cincinnati Construction Suppliers • Cincinnati/Dayton Wholesale Electric Supply • Cleveland/Akron/Canton Food Suppliers • Columbus Wholesale Electric Supply • Ft Wayne Building Materials • Grand Rapids Electrical/Industrial Suppliers

THE INTERCONNECTION

• Grand Rapids Lumber & Building Materials

• Indiana Electrical Suppliers • Indiana Wholesale Floor Covering • Indianapolis Building Trade Suppliers

• Indiana Best Practices • Metal Service Center • Michiana Credit Association – Manufactured Housing

• Michigan Electrical Supply • Plumbing & Heating Wholesalers • West Michigan Heating Wholesalers NEW YORK

• Albany Building Supply • Best Practices • Buffalo Building & Construction • Buffalo Plumbing and Electric Supply

• Central New York Building Supply • Central New York Food & Beverage Supply

• Rochester Building Supply • Rochester Plumbing and HVAC • Western New York Food & Beverage Supply

PENNSYLVANIA

• Pittsburgh/Altoona Building Trades • Pittsburgh Construction, Plumbing & Heating

• Pittsburgh Electrical Suppliers • Pittsburgh Food Suppliers • Northeast Regional Metal Distributors

USER AND SPECIALTY GROUPS

• Law Firm Forum • National SAP Credit & A/R Users

JANUARY/FEBRUARY 2021

PAGE 26

NACM Connect industry Groups

roups

it G Industry Cred Notes from Themis:

Stay Connected with NACM Connect!

NACM Connect Industry Credit Groups are still meeting during the pandemic lockdown via Zoom video conferencing, TEAMS and conference calls. These calls give group members an opportunity to see a friendly face, or to talk business, and everything in between. The response to these calls has been overwhelmingly positive because it has provided an outlet to get realtime information from other group members. With Zoom and TEAMS meetings, members can turn on their camera or choose to turn off their camera and participate via audio. Group members always follow federal, state and local Anti Trust rules and regulations during all meetings.

Face to face group meetings are the best way for group members to meet, network and discuss industry payment trends and hot topics. During this Corona Virus pandemic with travel bans and stay at home executive orders, group members need to stay connected with each other and stay on top on how this crisis is affecting their industries.

keeping our groups grounded and in touch. Participating and exchanging information confirms the value of being a member of an industry credit group. Looking forward to the new year 2021! â&#x2013;

Our Group Administrators are working with each group to see when we can safely meet again in person. Every city and state has different rules regarding capacity limits in restaurants and hotel meeting rooms. In a climate of uncertainty, getting back to the basics of good oldfashioned communication is

* To qualify for the $50 American Express gift card, the referring Member must contact the prospective Group Member and provide their contact information to a representative from NACM Connect to follow up. Prospect must join an NACM Connect Credit Group.

THE INTERCONNECTION

JANUARY/FEBRUARY 2021 PAGE 27

Commercial Law League of America Certified Agencies

The Original Commercial Collection Agency Certification Program CLLA CERTIFIED AGENCIES DELIVER: • • • • • • • • •

•

Maximum dollar recovery Prompt remittance of funds Adherence to rigorous Code of Ethics Mandatory Surety Bond protection Separate trust accounts Reputable collection practices Agency stability Mandatory continuing education for agency executives Audited annually by an independent third-party CPA firm Endorsed by the International Association of Commercial Collectors (IACC)

Since 1975, the Commercial Law League of America (CLLA) has been certifying commercial collection agencies who have earned the right to be recognized as industry experts. CLLA certification is a voluntary, in-depth examination process that requires agencies seeking certification to meet or exceed standard financial guidelines. Only agencies with the highest standards earn the CLLA certification.

Look for the CLLA Certification Seal.

To find a CLLA Certified Agency near you visit www.clla.org/certification THE INTERCONNECTION

JANUARY/FEBRUARY 2021

PAGE 28

Midwest Business Staffing

An NACM Connect Company

Need a Credit Professional?

Midwest Business Staffing is Your Solution

Finance Focused Staffing Our knowledge of the Credit, Collection and Finance industry and our thorough and hands-on approach to hiring is more specialized than other staffing agencies. Our goal is to reduce your hiring risks and time-to-hire as much as possible, while finding you the qualified candidates you want. Whether itâ&#x20AC;&#x2122;s direct-hire, temporary-to-hire or temporary staffing, Midwest Business Staffing connects top talent from entry to senior and executive level managers in the credit industry.

Dorann Guenard dorann.guenard@nacmconnect.org 847.483.6434

Midwest Business Staffing 3005 Tollview Drive Rolling Meadows, IL 60008

Our placement fees are far below the industry average, and we guarantee our candidates will match your job criteria. Discover the difference a partner like Midwest Business Staffing can make and let us help you make an ideal match today!

Partner with Us Since 1993, Midwest Business Staffing clients have relied on our expertise to better understand their needs and to provide the best selection of qualified candidates. We offer a broad selection of employment verifications including: Criminal Record Checks, Drug and Alcohol screening, Education Verification, Social Security Number Tracing and more. All candidates are thoroughly interviewed in credit/collections and accounts receivable skills. Our credit industry expertise allows us to better assess candidate potential. Credit and Finance classes are offered at no charge to all temporary employees while they are on assignment through the NACM Connect Institute of Credit.

THE INTERCONNECTION

JANUARY/FEBRUARY 2021 PAGE 29

Indiana

WEBINAR ZOOM MEETING INDIANA BEST PRACTICES DISCUSSION GROUP We understand that information in today’s credit world is vital. Participating in a Best Practices Discussion Group will provide you with credit-specific education, contacts in the local credit community and the opportunity to share ideas with fellow colleagues.

Next Meeting Topic: Escheatment and Unclaimed Property

About the Best Practices Discussion Group

Presenter: Cassie A. Nielsen

Unlike traditional credit groups, the NACM Connect Indiana Best Practices Discussion Group is not industry specific. Your entire company may attend each meeting including your associates, members of the credit department and even the CEO of your organization. Any NACM Connect member company is welcome to join the group. Each meeting will discuss best practices and no specific customers will be mentioned.

About the Group Meetings Four times each year, the Best Practices Discussion Group will hold a roundtable discussion. Local meetings will be held in the Indianapolis, Indiana area. We will focus on various credit-related topics relevant to today’s business professional. NACM personnel, a member company or guest speaker will facilitate a lunch meeting.

Objectives of the Best Practices Discussion Group • Determine necessary improvements for your credit and/or accounting departments and organization.

Indianapolis Business Litigation & Trial Attorney Rubin & Levin

Date: Thursday, February 18, 2021 11:30 a.m. – 1:00 p.m. EST Location: Webinar/Zoom Meeting For More Information or to Register: Please contact Kelly Hall at kelly.hall@nacmconnect.org or 317.225.4281

• Analyze how other organizations achieve high performance levels. • Use gathered information to enhance your company’s performance.

nacmconnect.org THE INTERCONNECTION

JANUARY/FEBRUARY 2021

PAGE 30

Nebraska

FREE

LIVE ZOOM* PRESENTATION Current NACM Connect and/or Nebraska CFDD Members

Presentation Topic:

Guest Presenters: Brian Jackiw & Tom Fawkes Tucker Ellis LLP , Chicago, IL Tuesday

January 12

CST

1pm -2pm

Credit Applications in the Post-Covid World

* Zoom password info to be sent the day prior to the presentation.

All registrations are taken online at nacmconnect.org.

Contact Frank Schetski at frank.schetski@nacmconnect.org or call 414.232.4565 Email this form to registration@nacmconnect.org. You will be invoiced shortly.

THE INTERCONNECTION

JANUARY/FEBRUARY 2021 PAGE 31

The InterConnection

800.935.NACM

Stay Connected

The 125th Credit Congress & Expo is scheduled to be held May 16-19, 2021 in Kansas City, Missouri. We realize that times are uncertain but we also know the importance of the conference to our members and NACM as an organization. We are planning to present an amazing in-person event, as we recognize the critical need for our NACM family and friends to RE-CONNECT! With this in mind, we also understand that some people may not be willing or able to travel; therefore, we will also be presenting a unique online event June 8-10. The online conference will have a small library of recorded sessions and ongoing live programming in addition to an Expo.