ELFA Forms Equality Steering Committee
L-R: Delroy Stauffer, Odessa; Wayne Super, Cisco Systems Capital; Jorge Vence, Commercial Equipment Finance; Kyin Lok, Dext Capital; Mike Romanowski, Farm Credit Leasing; Shawn Halladay, The Alta Group; Lisa Rafter, Monitor; Charles Hill, DLL; David Cramer, Amur Equipment Finance; Deb Baker, HP; Allison Conley, LEAF Commercial Capital; Scott Thacker, Ivory Consulting; Dave Drury, Fifth Third Bank; Stuart Papavassiliou, LEAF Commercial Capital; Josh Verhulst, Tech Defenders; David Normandin, Wintrust Specialty Finance; and Michael Baez, Capgemini America. Not pictured: Sherrie Fortson, CDW Direct, and Kara Miyasato, Stryker Flex Financial.
ELFA has formed an Equality Steering Committee devoted to promoting diversity and inclusion across the association and the equipment finance industry. In 2018 the ELFA Board of Directors established a Diversity Work Group and added new language to the association’s mission statement and strategic plan affirming its commitment to diversity and inclusion. The new Equality Steering Committee will further advance efforts to foster equality, diversity and inclusion.The ELFA Equality vision statement reads: “ELFA Equality is committed to making sure that all people, regardless of their race, ethnicity, gender, sexual orientation, age, religion, physical characteristics or mental abilities, feel welcome and valued in the equipment finance industry, ELFA and member companies.” The steering committee will fulfill this vision through:
- Awareness: Providing education, information and insights to identify opportunities for increased diversity participation in ELFA and the equipment finance industry.
- Advocacy: Promoting the advancement of diversity in hiring and volunteering in ELFA and in member companies.
- Action: Preparing programs and mentoring activities that can assist in achieving greater diversity balance.
“The equipment finance industry thrives on innovation, and innovation thrives on diversity,” said Thacker. “Many studies have demonstrated that businesses that embrace diversity, inclusion and equality are more profitable and attract more talented people. The association created ELFA Equality to promote equality everywhere and to welcome everyone. I am honored and humbled to be the founding Chair of ELFA Equality and pledge to infuse an equality-first perspective across the equipment finance industry. My appreciation goes out to our robust and diverse steering committee—20 people strong—made up of a diverse group of volunteers as well as supportive allies who will work tirelessly to advocate for equality and inclusion for all.”
“We believe that by focusing on diversity and inclusion, we’re empowering not only the people who make up our member organizations and the markets they serve—but also our entire industry,” said ELFA President and CEO Ralph Petta. “Our aspiration as an association is that the people powering this great sector—including our members and their customers—will represent a wide range of backgrounds and perspectives. Together with our member companies, ELFA looks forward to advancing initiatives to support equality, diversity and inclusion in everything we do.”
Join the “ELFA Equality” LinkedIn Group
The ELFA Equality Committee has created the new “ELFA Equality” LinkedIn Group to bring industry professionals together in support of diversity and inclusion. This group is designed as a forum to share information, exchange ideas and network with other members of the equipment finance community. All members are welcome to connect with the group at https://www.linkedin.com/groups/12317521/.
What Are the Top 10 Industry Trends for 2020?
ELFA is forecasting the leading trends driving capital acquisition this year in the Top 10 Equipment Acquisition Trends for 2020. Designed to help businesses with their strategic equipment acquisition plans, you can find the trends press release, infographic and animated video on ELFA’s Equipment Finance Advantage website for end-users at www.equipmentfinanceadvantage.org/rsrcs/articles/10trends.cfm. Survey Respondents Reap Rewards
The Research Committee met at ELFA headquarters in Washington, D.C., in November to plan the 2020 Survey of Equipment Finance Activity (SEFA), the Interactive SEFA Dashboard and the MySEFA personalized data tool. Make sure you participate in the 2020 SEFA to take advantage of special benefits! Every company respondent will receive:- A complimentary copy of the 300+ page SEFA and Small-Ticket SEFA reports (a $1,495 value).
- A personalized MySEFA interactive tool, which lets you track your company’s operational and performance statistics and compare them against your peers.
2020 Dues Renewal Season Is Here!
It’s that time of year again and the dues renewal campaign has begun. Renewal invoices for the 2020 membership year were mailed to the key contacts of all ELFA member companies on Nov. 1, 2019. Timely payment of 2020 membership dues will ensure uninterrupted access to indispensable benefits, such as federal and state advocacy updates, targeted industry research, discounted fees for ELFA events, and much more. Please contact the ELFA Membership Department at [email protected] if you have any questions. We thank you for your continued support!Key Dates to Remember….
Nov. 1, 2019 – 2020 dues invoices mailed to Key Contacts
Dec. 31, 2019 – Deadline to pay 2020 dues
THROUGHOUT 2020 – Take advantage of ELFA’s many benefits!
Making the Grade
Congratulations to AndY Fishburn, ELFA Vice President of Federal Government Relations, for earning the Certified Leasing and Finance Professional (CLFP) designation from the CLFP Foundation. The CLFP designation is the preeminent credential for equipment finance professionals who have demonstrated competency through testing of knowledge—including passing a rigorous 8-hour exam—as well as continuing education, commitment to business practices and dedication to the industry.Save the Date
The Credit and Collections Planning Committee gathered at ELFA headquarters in November to plan an exciting agenda for the 2020 Credit and Collections Management Conference and Exhibition, which will be held June 1–3 in San Antonio, Texas. Don’t miss this opportunity to discuss the state of the economy, human capital issues, the legal and regulatory environment, data analytics, risk and bankruptcy and other relevant topics. Learn more at www.elfaonline.org/events.Join the Investors Conference in the Big Apple
The 19th Annual Investors Conference on Equipment Finance is scheduled for March 25 at The Union League Club in New York City. This one-day event from IMN and ELFA focuses on educating investors and equipment finance companies about the latest industry trends and developments. The program will include extensive coverage on the outlook for the year ahead, structural and legal challenges, risk management, capital markets and transportation finance. Learn more at www.imn.org/equipment.
Ask a Leader
Don’t miss the Emerging Talent Advisory Council’s “Ask a Leader” series of interviews with a diverse group of ELFA members. The leaders discuss their formative professional years, their success and challenges and their advice for future leaders in the industry. Check out recent conversations with:- Scott McFetters, President, CoreTech Leasing
- Hayley Chavarria, Manager, End-of-Lease Logistics and Brokerage, CHG-MERIDIAN USA Corp.
ELFA Mourns the Passing of John Giddens
Industry icon John Giddens passed away on Jan. 6 in Sausalito, California. Giddens had a distinguished career in the equipment finance industry and was a leading force in transitioning ELFA into a modern professional association. He served as Chairman from 1983-1985, was an inaugural member of the Equipment Finance Hall of Fame and was a life-long mentor to many. Read more at http://bit.ly/2TfLoQa.
Save the Date:
2020 ELFA Events
Take advantage of a wealth or learning and networking opportunities available to you and your staff as part of your ELFA membership. Download the 2020 Educational Supplement and visit our website at www.elfaonline.org/events for more information.Lease Accounting Standard Delayed
Certain private companies, nonprofits and tax-exempt organizations that lease equipment have been given an important advantage in implementing new accounting rules—more time. The Financial Accounting Standards Board has announced that the effective date for the new lease accounting standard, Accounting Standards Codification Topic 842(ASC 842), for private companies and nonprofits has been delayed by one year, with implementation beginning after Dec. 15, 2020. The delay will allow smaller organizations to get their accounting processes in place while they continue to enjoy the advantages of leasing equipment. Check out ELFA’s new bylined article created to help lessees prepare for implementation, “Time Is On Your Side: Making the Most of the Delay in Lease Accounting Changes,” at www.elfaonline.org/LeaseAccountingTools.
Get Involved with ELFA!
It’s a new year filled with possibilities and opportunity. What a great time to get involved by volunteering on an ELFA committee. ELFA is a volunteer-driven organization and each year, hundreds of volunteers from ELFA member companies contribute their time and energy to drive the association’s mission. If you would like to learn more about how to get involved and participate on a committee, go to www.elfaonline.org/about/governance, scroll down to the “Get Involved” section and:
- Download the new ELFA Volunteer Guide.
- View descriptions of ELFA committees.
- Complete the online committee volunteer form.
Workshops Highlight Industry Principles
Kudos to the professionals who graduated from ELFA’s Data Sales Principles of Leasing and Finance Workshop, Oct. 9-10 in Burnsville, Minnesota. Thanks to instructor Bob Golden for making learning fun! ELFA is excited to offer three Principles of Leasing and Finance workshops in 2020:
- April 7–9 in Chicago
- June 17–19 in Washington, DC
- September 15–17 in Plano, Texas
Prepare for the Year Ahead at the Executive Roundtable
Presidents and CEOs of ELFA member companies should mark their calendars for the 2020 Executive Roundtable, March 8–10 at the Ritz-Carlton Golf Resort in Naples. The Executive Roundtable is designed to bring together CEOs and presidents of equipment finance companies to discuss the issues of the day, strategize about the future and create lasting business relationships. Attendance is limited to the top leaders from ELFA member companies, including service providers. Hear why your colleagues are attending and see complete details at www.elfaonline.org/events/2020/ERT.
Orlando Welcomes Equipment Managers
If you are in equipment management, you can’t afford to miss the Equipment Management Conference and Exhibition, Feb. 23–25 at the Omni Orlando Resort at Championsgate in Orlando, Florida. This is the premier event for equipment managers, appraisers and remarketers and is attended by nearly 300 people you need to meet. See the top 5 reasons to attend.Spotlight On: Master Lease Agreements
ELFA has launched a new online course on Understanding the Master Lease Agreement. If you’re looking for working knowledge of the purpose and contents of the Master Lease Agreement, this course is for you! Enjoy “virtual” hands-on training using the latest instructional technology—accessible from your smartphone, tablet or laptop/desktop computer. The course is available for individual purchase by both ELFA members ($350) and nonmembers ($650) as well as bulk purchase by companies that wish to train more than one employee at a time. Learn more at www.elfaonline.org/events/eLearning.Ignite Your Future at the Women’s Leadership Forum
Come “Ignite Your Future” at the Women’s Leadership Forum, April 20–21 at the Palmer House Hilton in Chicago. This event will focus on leadership development for women at all stages of an equipment finance career. The agenda will feature dynamic speakers and offer time for attendee interaction and networking with other industry leaders. You’ll leave this event with valuable insights and powerful tools to enhance your career. New this year: Participate in an optional two-hour pre-conference workshop! Sponsored by the ELFA Women’s Council. Details at www.elfaonline.org/events/2020/WLF.Five Roundtables Tackle Best Practices in 2020
Best practices roundtables are small, one-day meetings designed to facilitate the exchange of information among peers. Attendance is open to ELFA member companies only. Watch for updates on the following events at www.elfaonline.org/events:Bank Roundtable, April 21, Chicago
Captive and Vendor Finance Roundtable, April 21, Chicago
Independent Roundtable, April 21, Chicago
Small Ticket Roundtable, April 21, Chicago
Tax Best Practices Roundtable, June 9-10, Chicago
Funding Conference Set for April 21–23
The ELFA National Funding Conference is the most effective forum for connecting funding sources with some of the finest organizations in the equipment finance industry looking to establish relationships to fulfill their funding needs. This popular annual event is scheduled for April 21-23 at the Palmer House Hilton in Chicago. To learn more about the National Funding Conference and to register as a funding source exhibitor or attendee, please visit www.elfaonline.org/events.
Calling All Emerging Talent: 2020 Networking Events
Are you a future leader who’s interested in meeting more people in the industry? Please join ELFA at an Emerging Talent Networking Event in 2020: April 21 in Chicago, July 15 in Denver and Sept. 14 in New Orleans. These events, which are sponsored by the Emerging Talent Advisory Council, are a chance to hear from industry leaders and network with your fellow industry colleagues. There is no cost to attend but space is limited and you must register in advance. Watch for updates at www.elfaonline.org/events.
Nominations Open for Equipment Finance Hall of Fame
The Equipment Finance Hall of Fame annually recognizes individuals who have made unique, significant or lasting contributions to the industry and/or the association throughout their careers. The deadline for nominations to the 2020 Class of the Equipment Finance Hall of Fame is April 1, 2020. Learn about the nomination criteria and deadlines and access the online nomination form at www.elfaonline.org/hof. Please contact Ed Rosen at [email protected] if you have any questions.
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