Automotive Finance Organizations

Stay abreast of industry issues, news and trends by joining automotive finance organizations
By Tai G., Writer If you own or manage a bank that provides auto financing, you would do well to partner with an automotive finance association to strengthen your business expertise and credibility. Industry organizations bring together professionals with similar goals and challenges. Members of industry organizations come from across company divisions, but all share the same objective of expanding their knowledge.

Becoming a member of the right organization opens the door to a wealth of expertise. You will be exposed to many networking opportunities, information and resources. Additionally, car finance organizations may also provide invaluable services that include new products, education opportunities and industry support. When looking for membership with a car finance group, remember the following:

1. Make sure the association you're interested in is credible. Check the Better Business Bureau or other industry accreditations.

2. Some auto finance organizations don’t stipulate membership for certification.

3. Most organizations charge fees for memberships, so make sure you’re getting your money’s worth before you pay.

Become a member of an accredited auto financial group

Although many organizations offer information, tools and resources to non-members, you can benefit substantially from becoming a member. Membership opens the door to additional service, product and representation. Register as a business rather than as just an individual, if possible, so your employees can benefit from the membership.
Try:  Auto lending constitutes the largest part of all banking loans, with the exception of mortgages. The Independent Community Bankers of America provides its members with industry support and solutions, representation and marketing tools. The American Bankers Association offers a variety of membership options with benefits that match accordingly.

Take advantage of training and certification opportunities provided by an auto finance groups

Progress stops for no one, and you need to advance as a professional by keeping your industry skills sharp and current. Take advantage of educational programs and tools offered by an auto finance group to assist you and your employees in knowledge development and career advancement. Many organizations offer information on upcoming seminars, conferences, business development courses and other industry-related programs; in addition to industry certifications.
Try:  The National Vehicle Leasing Association offers online and offline certification programs, including the Certified Vehicle Lease Administrator and the Certified Vehicle Lease Executive programs. The Ohio Vehicle Leasing Association provides courses for members and non-members.

Join an auto finance association that offers a full schedule of events and conferences

Events and conferences are a boon to any business. They give you an opportunity to network and share issues with industry peers. More importantly, they give your company exposure within the industry, and provide you an opportunity to further your relationships with other businesses. Try and pick organizations with nationally-recognized events.
Try:  National Automotive Finance Association and the Consumer Bankers Association both provide an events calendar for educational and networking opportunities.

• If you're considering a car finance association for its online resources, look for one with a current forum where you can discuss issues with industry experts in real time.