the creditline - nacm commercial services€¦ · yachts. his fictitious company bought distressed...
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"CFDD—Dedicated to Your Success"
From CFDD Portland Chapter
Page 1
The CreditlineAugust 2015
2015-2016
Officers and Board
President Barbara A. Davis, CCE Northwest Pump & Equipment Co. 503.227.7867
Vice President Debora Diamond-Burt, CBA, CICP Schnitzer Steel Industries, Inc. 503.721.5660
Secretary Yvonne Prinslow, CCE Hampton Lumber Sales 503.203.6495
Treasurer Bill Heintz, CBF TEC Equipment, Inc. 503.285.7667
1-Year Directors Melanie Etzel, CCE Cascade Nut and Bolt 503.375.6445
Joy Henderson Schnitzer Steel Industries, Inc. 503.220.5205
2-Year Directors Eve Sahnow, CBF OrePac Building Products 503.685.5497
Molly Spearing LaCrosse Footwear, Inc. 503.262.0110 x1315
Chairman of the Board Marilyn Rea, CCE Pacific Architectural Wood Products 503.943.2396
National CFDD Area Director— Oregon Lori Kimball, CBF NORPAC Foods, Inc. 503.480.2100 x2018
CFDD Liaison Kathy Linscott, CGA NACM Oregon 971.230.1164
"Credit Jeopardy"
Thursday, August 13, 2015
Location: DoubleTree by Hilton Portland 1000 NE Multnomah, Portland, Oregon
Enter parking lot from either NE 9 or NE 11 Ave., south of Multnomah Max Line stop: Lloyd Center
Schedule: Professional Networking and Social Time—5:30 to 6 p.m. Dinner—6 p.m. (Meeting starts at 6 p.m.)
Cost: $35 Members $40 Nonmembers
Program: Please join us for a rousing and challenging game of Credit Jeopardy!You think you know a lot about credit? Join us on August 13, as our very own, Charlene Gothard, CBF, puts us to the test! Using the format of the old TV game show, Charlene will test your knowledge about areas in credit that sometimes we take for granted. This program is filled with fun and great learning with an opportunity to get to know more about, and even stump, your fellow credit professionals. For those studying for certification, this is also a fun way to test your knowledge! Prizes will be awarded.
Presenter: Charlene Gothard, CBF, Senior Credit Representative, Purina Animal Nutrition, LLC, is a Past President of the Portland Chapter of CFDD. She has had several years ofinvolvement with the chapter and served on numerous committees as a chairmanand committee person. She won the National DMA in 2008, the Chapter DMA in2005 and 2013, and was a recipient of the “Viv” in 2009. Charlene currently is serving as the CFDD National Chairman.
Buffet Dinner Menu—Now and Zen: Thai Peanut Soba Noodle Salad with Peppers; Stir-fry Beef with Peppers, Onions, and Ginger Ponzu Sauce; Brown Rice; Steamed Vegetbles; Chef’s selection of displayed Desserts; Coffee, Decaffeinated Coffee, and Tea.
Please contact Deborah Diamond-Burt, CBA, CICP, at [email protected] if you have any dietary restrictions to request a substitution to the regular menu at least 2 days prior to the meeting.
Program Cancellation Policy: Please RSVP and provide cancellation to the Calling Committee’s email about each CFDD meeting by 5 p.m. the Friday before the monthly educational meeting. Or contact Yvonne Prinslow, CCE, at 503.203.6495 or [email protected].
From CFDD Portland Chapter
Page 2
The CreditlineAugust 2015
President's Message Greetings, CFDD Portland Chapter Members! I hope you are staying cool through this unseasonal warm weather. It is hard to believe we are now halfway through the summer!
Thank you to Wes Friesen, CCE, for his informative and entertaining presentation on "Best Practices of Great Leaders." This interactive session had Wes sharing his best practices to achieve a high-performing team, along with some great anecdotes.
Registration is open for the CFDD National/NACM Western Region Conference, which will be held October 14-16, at the Doubletree by Hilton Portland. The theme for the conference is Tech Credit: Where Technology and Credit Unite. The educational sessions will be focused on credit/technology topics, with some outstanding speakers including Scott Blakeley, Chris Kuehl, Jason Torf, and Rudet Fountain. The conference will also include networking opportunities, plus our CFDD Silent and Dessert Auctions! The Portland Chapter is offering several scholarships for the conference, as well as the NACM Oregon Foundation, so I encourage everyone to apply. The early bird registration rate of $375 ends on August 15, so this is an opportunity you do not want to miss!
There is still time to submit your nominations for the Distinguished Member Award (DMA) and the form is included in this issue of the Creditline. If you feel that there is someone that has gone above and beyond for our chapter, I encourage you to submit your nomination. It is such a great feeling to honor those who have given so much of their time and effort to our organization. Please submit your nominations to DMA Chair, Ruth Moehnke, by August 14. We will be presenting the DMA Award, along with the Outstanding New Member Award at the September meeting.
We have some outstanding programs lined up in the next several months. This month we still start light and have a fun program “Credit Jeopardy” presented by Charlene Gothard, CBF. In September, we will have our DMA presentation and fall auction along with a short program from Marilyn Rea, CCE, on how to get effective email responses. Then in October we will have Jason Torf give a presentation on "Preference Litigation." I hope to see all of you at our meetings.
Enjoy the rest of your summer and I will see you at the August meeting
Sincerely,
Barbara Davis, CCE CFDD Portland Chapter President
Checking the Factsby Teresa Silva
In 2013, the CNBC program, American Greed, ran an episode on an ingenious fraud perpetrated by a man named Michael Vorce. Michael Vorce exploited weaknesses in the banking system in Grand Rapids, Michigan, and the boat licensing system in Tennessee, in order to defraud banks of approximately $24 million.
Michael Vorce went to great lengths to hide his fraud from the bankers including interviewing target banks, figuring out where the red flags were, determining what paperwork bankers needed to approve loans, and learning how to “dress up” his information to match. At the same time, he learned that the state of Tennessee did not provide boat titles, but they did provide a letter testifying to boat ownership. Armed with this information, he applied for an EIN and created a new business entity—West Mountain Yachts. His fictitious company bought distressed yachts, restored them, and then resold them. At least that was the story.
In order for his fraud to work, Michael Vorce would generate bills of sale from fictitious vendors using a slightly changed hull number from boat listings. He would then submit a bill of sale to the state of Tennessee. In return he received a letter from the state testifying to ownership of the boat. He would then take this letter to the state of Michigan and provide it as proof of his ownership in order to generate a clean boat title. Finally, he would take this title to the bank, list them as lien holder and take out a loan to purchase the boat. He learned that the more documents he could throw at the bank, the less suspicious they were and the fewer facts they would check.
This story highlights for creditors how important it is to check the facts in the documents provided by customers. Michael Vorce told his defense attorney that the banks could have easily caught him early on if they had only checked his tax returns which were never filed. More than this, a little further digging would have revealed that the boats themselves were fabrications and the hull numbers never existed. He said of the bankers, “most were happy with a nice lunch and a handshake.” In the end, the banks recovered just under $250,000 for the bad loans, or about one penny on every dollar loaned.
October 14-16, 2015
DoubleTree by Hilton Portland
Come connect with us at the NACM Western Region & CFDD National Conference in
Portland, Oregon, and discover how you can harness the power of technology or
embrace the tech you have. Together we will see where technology and credit unite.
Early Bird Registration Ends: August 15, 2015
For more details download the flyer or checkout the website.
Register for the Conference
From CFDD Portland Chapter
Page 4
The CreditlineAugust 2015
June Treasurer’s ReportTotal beginning balanceof Restricted and Unrestricted Funds $17,424.19
Unrestricted Funds Beginning Balance as of June 1, 2015 $2,929.79
Income $941.00
Expenses $.00
Ending balance as of June 30, 2015 $3,870.79
Restricted Funds Beginning Balance as of June 1, 2015 $14,494.40
Income $1.29
Expenses $545.00
Ending Balance as June 30, 2015 $13,950.69
Total Ending Balance of Restricted and Unrestricted Funds $17,821.48
Breakdown of Accounts
Unitus 1 Share Deposit $5.01Checking Account Balance $2,392.37Outstanding Checks (165.00)Money Market Account Balance $15.589.10Ending Balance as of June 30, 2015 $17,821.48
Distinguished Member AwardHonor a Member—Honor our Chapter
Do you have personal experiences with one of our chapter’s members who have helped either you or other members of our chapter, as well as the credit profession? If so, take the time to formally recognize the positive impact of that individual on you and our chapter and nominate him/her for the CFDD Portland Chapter’s 2015 Distinguished Member Award. The only way to be considered for DMA is to be nominated directly from our Portland Chapter membership. Please submit your nominations to Ruth Moehnke, at [email protected], 2015 DMA Selection Committee Chairman. Please include a brief background on the individual(s) and the reasons why you feel he/she should be considered for this prestigious award. Nominations close August 14, 2015, so don’t delay! A Nomination Form is included with this issue of the Creditline to make it even easier!
CFDD Vision Statement—"The mission of the NACM Credit and Financial Development Division is to develop tomorrow’s business leaders through core offerings."
CFDD Mission Statement—"To be a leading provider of professional development opportunities through learning, coaching, networking, and individual enrichment."
Scholarships Available The Portland Chapter has 4 scholarships available for the CFDD National/Western Conference. This conference is packed full of speakers educating us on where and how technology impacts the credit world. This should be a great conference and the best part is, it’s right here in our home town. Remember too that you have your "Dollars for Scholars" available for this as well! NACM Oregon Foundation also has scholarships available so there are plenty of opportunities for you to earn a scholarship. Please submit your applications directly to Tawnya Marsh, CBA, at [email protected] for the Portland scholarships or your "Dollars for Scholars" request. August 10, 2105, is the deadline to submit your application for this event to allow for registration time.
Upcoming Monthly MeetingsSeptember 2015—DMA Presentation, Fall Auction, and a short program on "How to Get Effective Email Responses," presented by Marilyn Rea, CCE October 2015—"Preference Litigation," presented by Jason Torf
From CFDD Portland Chapter
Page 5
The CreditlineAugust 2015
Enjoy a fun time bidding on yummy eats, treats, and fall decorations. [Cheese, cider, chestnuts, pumpkin pie, quilts, nuts]
THE WALL OF WINEBring a bottle or two to raffle off.(TICKETS FOR WINE WILL BE $15
AND THE WINE WILL BE A MYSTERY)
SEPTEMBER HARVEST AUCTION
( D O N AT I O N S W E LC O M E )
DONATIONSContact Carol Spring: [email protected]
or Victoria Bonar: vbonar@mathesongas
From CFDD Portland Chapter
Page 6
The CreditlineAugust 2015
CFDD Portland Chapter Education Meeting MinutesJuly 2015
Credit and Financial Development Division of the National Association of Credit Management Thursday, July 9, 2015, at the DoubleTree by Hilton Portland.
The meeting was called to order President, Barbara Davis, CCE, at 6:02 p.m., at the DoubleTree by Hilton Portland in Portland, Oregon.
Introductions Barbara Davis, CCE, introduced the following in attendance: Past Presidents: Charlene Gothard, CBF; Marsha Johnson, CCE; Tawnya Marsh, CBA; and Marilyn Rea, CCE. NACM Oregon Board Members: Marsha Johnson, CCE, Immediate Past Chairman and Tawnya Marsh, CBA, Director. NACM Oregon Foundation Board Members: Barbara Davis, CCE, Vice Chairman; Yvonne Prinslow, CCE, and Marilyn Rea, CCE, Directors. CFDD National Chairman: Charlene Gothard, CBF. NACM/CFDD Liaison: Kathy Linscott, NACM Oregon. Special Guest: Wes Friesen, MBA, CCE, Manager of Billing, Credits & Payments, Portland General Electric, Speaker.
Business Meeting A motion was made by Marsha Johnson, CCE, and seconded by Ruth Moehnke to approve the minutes for the June 2015 CFDD Educational Meeting; motion passed.
Approval of the 2015-2016 Budget: A motion was made by Marilyn Rea, CCE, and seconded by Jackie Maze.
Committee Reports—
Treasurer’s Report— Treasurer's Report is on the tables for review.
Share Wins— No report.
Program—Barbara Davis, CCE, for Deborah Diamond-Burt, CBA, CICP August—"Credit Jeopardy," presented by Charlene Gothard, CBF September—"DMA; Fall Fund-raiser; Sending Effective Emails," short program presented by Marilyn Rea, CCE.
Publicity—Molly Spearing Deadline for the August Creditline is July 20, 2015. We would like to see more articles, so if you have an article you think would be good for the Creditline, please submit to Publicity Chair, Molly Spearing, at [email protected].
Fund-raising No report.
Planning— No report.
Membership—Yvonne Prinslow, CCE We just filed the quarterly membership report and are holding steady at 62 members.
Education— No report.
Scholarship—Tawnya Marsh, CBA We have four scholarships available for registration to the Western Region / CFDD National conference. There is also "Dollars for Scholars" available, please see Tawnya for your balance.
Mentoring Report— No report.
National Area Director—Lori Kimball, CBF No report.
Shout Out President Barbara Davis, CCE, gave a shout out to Tawnya Marsh, CBA, and Eve Sahnow, CBF, for just completing their first year of GSCFM. Tawnya and Eve talked about their experience.
Old Business No report.
New Business No report.
Reflection— No report.
Dinner and Program—Marilyn Rea, CCE “Best Practices of Great Leaders” presented by Wes Friesen, MBA, CCE, Manager of Billing, Credits & Payments, Portland General Electric.
Monthly Raffle There are four baskets up front for raffle tonight.
Announcements The DMA nomination form was printed in the July Creditline. The deadline to turn it in is August 14 and the award will be presented at the September meeting.
Closing Announcements Next Board meeting is August 27, 2015, at 5:15 p.m. at NW Pump & Equipment. Parking passes are on back table. CEU forms were handed out.
Adjournment Meeting was adjourned at 8:02 p.m.
Respectfully submitted, Yvonne Prinslow, CCE, Portland CFDD Secretary
CFDD-Portland ChapterDistinguished Member Award
2015 Nomination FormThe 2015 DMA Selection Committee welcomes your nomination for individuals for this prestigious award. Our CFDD Portland Chapter’s Distinguished Member is chosen by a point system. The DMA Selection Committee reviews all nominations and interviews all nominees to ascertain the points each has earned. Your 2015 Distinguished Member(s) will be formally presented to the membership at our September Special Recognition Evening.
The maximum points possible include:
• Education: 15 points
• Work Experience: 10 points
• CFDD Local & Regional Participation: 75 points
More than one name may be submitted per Member. Prior DMA recipients are not eligible to receive this Award unless they have accomplished something particularly outstanding since their previous Award.
Any questions should be directed to Ruth Moehnke, at 503.286.0685 x208. Please fax or email this completed form no later than August 14, 2015; Fax: 503.286.1743; Email: [email protected].
To: Ruth Moehnke, and the 2015 DMA Selection Committee:
I submit the following name(s) for our 2015 Distinguished Member: ____________________________________________
________________________________________________________________________________________________________
________________________________________________________________________________________________________
The reason(s) I am nominating this person(s) is: _____________________________________________________________
________________________________________________________________________________________________________
________________________________________________________________________________________________________
________________________________________________________________________________________________________
________________________________________________________________________________________________________
________________________________________________________________________________________________________
________________________________________________________________________________________________________ (Attach additional sheet(s) if necessary)
Submitted by: __________________________________________________________Date: __________________________
From CFDD Portland Chapter
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The CreditlineAugust 2015
CFDD Portland ChapterApplication for Scholarship Award
1. Which scholarship are you applying for? _________________________________________________________________
______________________________________________________________________________________________________
2. Please consider my application for a scholarship toward: ____________________________________________________
______________________________________________________________________________________________________
3. How long have you been a member of CFDD? _____________________________________________________________
4. Please list the number of meetings attended in the last twelve months: _________________________________________
5. Currentpositionwithfirm: _____________________________________________________________________________
6. Willyourcompanysupportyoufinanciallytoattendthisclass? Yes No Partially
7. Areyouworkingtowardscertificationorrecertification? Yes No
8. What interests you in this class/conference? ______________________________________________________________
______________________________________________________________________________________________________
______________________________________________________________________________________________________
9. Briefly,outlineyourpastandcurrentparticipationinCFDD:(Pleasecompleteonbackifneeded.)
a. Officesheld _____________________________________________________________________________________
Dates to/from: __________________________________________________________________________________
b. Committees served _______________________________________________________________________________
Dates to/from: __________________________________________________________________________________
10. Haveyoupreviouslyappliedforascholarship?Ifso,whenandwhichone? _____________________________________
______________________________________________________________________________________________________
11. Have you been awarded a scholarship within the past 12 months from CFDD Portland Chapter? Yes No
Whichone(s) _______________________________________________________________________________________
12. HaveyoupreviouslyattendedthePacificNorthwestCreditConferenceorNationalCreditCongress?
______________________________________________________________________________________________________
PNWCC—Year(s)attended: _______________________________________________________________________________
NationalCreditCongress—Year(s)attended: _________________________________________________________________
IunderstandthatifIamselectedforascholarship,ImustsubmitawrittenreporttotheScholarshipCommitteewithinthreeweeksofcompletionoftheclassorseminar.Atmyoption,Imaymakeanoralreporttothemembershipinplaceofthewrittenreport.
Member Name: _____________________________________Company Name: _____________________________________
SupervisorName: ____________________________________ SupervisorEmail: ___________________________________
Mailing Address: ________________________________________________________________________________________
City,State,Zip: _________________________________________________________________________________________
Phone: ____________________________________________Fax: ______________________________________________
EmailAddress: _________________________________________________________________________________________
Signature: __________________________________________ Date: _____________________________________________
13.Mail,fax,oremailto: TawnyaMarsh,CBA ColumbiaRiverKnife&Tool 18348SW126thPl.,Tualatin,OR97062 p: 503.218.2527 f: 503.682.9680 e: [email protected]
From CFDD Portland Chapter
Page 9
The CreditlineAugust 2015
Please type or printIherebymakeapplicationformembershipintheNationalAssociationofCreditManagement,CreditFinancial DevelopmentDivision,PortlandOregonChapter.
Company DataName: ____________________________________Title: ____________________________________________
Email:_______________________________________________________________________________________
Company: _________________________________________________________________________________
Phone: _______________________________________Fax: _________________________________________
Address(Mailing): ____________________________________________________________________________
City/State/Zip: _______________________________________________________________________________
Physical: ____________________________________________________________________________________
City/State/Zip: _______________________________________________________________________________
NACMAffiliate/CRFwhichyourfirmbelongs:_____________________Member# ________________________
How/where did you hear about CFDD? ____________________________________________________________
Personal DataAddress: ____________________________________________________________________________________
Phone#: ______________________________________Birth month & date: _____________________________
Annual dues are billed the end of October each year and the membership year is January 1 through December 31. Dues are $110 per year and are prorated on the basis of $9.17 per month.
PleasebillmyfirmonthenextNACMOregonstatement$ ______________________________________________
Applicant’s signature ____________________________________________________________________________
Date: _________________________________________________________________________________________
Please send the completed form to the following address:
YvonnePrinslow,CCEHamptonLumberSales9600SWBarnesRd.,#200,Portland,Oregon97225-6698p 503.203.6495 f 503.291.5653 e [email protected]
CFDD Portland ChapterMembership Application