Educational Scholarships:.(National Association of Credit Management)

Investing in the Professional and the Profession

Scholarship is defined in Webster's dictionary as "a specific gift of money or other aid, as by an institution, to help a student continue his studies." In keeping with this definition, a number of NACM Affiliates across the country have developed extensive scholarship programs and are currently offering their members a variety of educational opportunities. Scholarships are an excellent vehicle for promoting professional growth--receiving an award to cover the cost of a course or the fee to attend a conference both encourages and enables members to continue their professional education. Enrolling in classes, attending conferences and earning designations and degrees indicates a dedication and commitment to self-improvement on the part of the professional. In an effort to recognize the important role scholarships play in professional education, NACMNational requested information from its Affiliates regarding their particular scholarship programs. Those respondents' programs are reviewed in the following article.

NIC-Intermountain, the educational arm of NACM-Intermountain in Salt Lake City, Utah, is in its 29th year of sponsoring credit classes. According to Martha Collins, Membership Services Coordinator at NIC-Intermountain, they have been offering scholarships every quarter since she started in 1976. "Any profit we earn from our seminars goes into our scholarship fund. Class prices range from $221 for a two-hour class to $347 for a four-hour class, depending on the money available and the number of scholarships approved. In the beginning, we paid for tuition and books, but now the scholarships cover only the cost of tuition for one class." Scholarship requests are reviewed and approved by the Education Committee for both fall and spring semesters. NACM-Intermountain offers $200 scholarships to the first 10 members who sign up for the Annual Credit Congress and another $200 to the first 10 members who sign up for the Western Region Conference.

NACM-Ohio in Dayton offers scholarships to members through the Norbert G. Backhus Scholarship Program, which was set up by the existing Board and has been supported by contributions for several years. Scholarship funds are derived from the annual earnings on the principal, which provides the pool for the funding each year. Pat O'Brien, President of NACM-Ohio, noted that "A separate scholarship committee administers the program which offers annual awards to professionals seeking to enhance their career opportunities, primarily in the risk management area. We are looking for those

individuals who show a pattern of professional development. The awards are to be used specifically for tuition on courses applicable toward professional certification or college-level courses." Applicants submit a simple one-page application. After review by the committee, qualified applicants are evaluated, and awards are presented. Recipients have one year to use the award or forfeit the amount. Awards range from $300 to $1,000. O'Brien observed, "Applying for awards is an indication of continued professional development. We hope to see an increase in the number of members applying for the awards."

For more than a decade NACM-Oregon, Inc. (dba NACM Business Credit Services/NACM BCS) located in Portland has been offering scholarships. In 1997, NACM-Oregon founded the NACM-Oregon Foundation for the specific purpose of providing scholarships to individuals working in credit. This independent foundation has provided over $60,000 in scholarships since its inception, averaging about $15,000 per year. To date this year, the Foundation has publicized the following scholarships: $1,000 for the National Legislative Conference; three $600 scholarships for the National Credit Congress; and $2,500 for two years for the Graduate School of Credit & Financial Management. The Foundation has substantial reserves and will establish other 2001 scholarship offerings in the near term. According to President Rod Wheeland, NACM BCS will also offer three scholarships for each of their nine scheduled seminars in 2001. These scholarships are worth $120 each.

NACM-Inland Northwest in Spokane, Washington, has set up the Jerry Andrews Scholarship Fund honoring its former President. Members who worked with Andrews as well as various affinity programs have contributed monies to the fund. Chuck Monson, President, explained that scholarships have included sending one or two individuals to the annual National NACM Conference for the past five years, as well as to the Legislative Conference. In September 2000, nine ...