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Laurie Farvour, CBF.(Member Profile)(Interview)

Business Credit

| November 01, 2006 | COPYRIGHT 2006 National Association of Credit Management. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Credit? I Had No Idea What That Entailed ...

... until I became an accounts receivable clerk at a lumber company. The owner asked me to attend trade group meetings after the credit manager left. They decided not to replace her--and that was my first step into the credit world. This was back in 1984; and far from my original goal of becoming a real estate appraiser. I had already obtained my real estate license and was working with a bank appraiser willing to train me, in hopes that I would be hired when the bank had an opening. However, I needed to get a full time job--which landed me in the accounts receivable department of a lumber company.

Career Direction Came In The Form Of A Job

I attended Eastern Oregon College in LaGrande, Oregon for two years; but I left, as I could not decide on a major. My plan was to enter the working world, thinking that would help me decide on a major; then return to school. I did return--but it was college classes offered through work-related education programs. And the NACM CAP Course, which I found out about after I had joined the Credit and Financial Development Division (CFDD), was the most rewarding. I met people who had made very successful careers in the credit profession, and for whom I had a very high regard. Because of CFDD and the classes, I gained confidence in my ability to be a credit professional and found the courage to apply for the position of Regional Credit Manager with Gensco, Inc., and got it!

Been There, Done It For 22 Years!

I've had a total of 22 years in credit; and have seen a lot of changes--mostly in technology. Credit scoring, online credit reports, trade groups, NACM's Resource Library, a trade group alert program and the mentor program are all tools that enable the credit manager to keep pace with the ever-increasing speed at which business is transacted. I think credit will become more and more automated regarding day-to-day transactions, and that experienced credit professionals will be reserved for more complex transactions in credit and risk management.

Looking Back

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