ELFA Board Holds Spring Meeting in D.C.
The ELFA Board of Directors met May 23 in Washington, D.C., under the leadership of Board Chair Bob Neagle. During the Board meeting, ELFA leaders deliberated over a number of high-priority items focusing on the strategic direction of the association and the ultimate goal of ensuring that ELFA programs, products and services are responsive and continue to deliver value to members.ELFA President and CEO Ralph Petta and staff offered updates on a variety of association activities, reporting exceptional membership renewal/recruitment and event attendance and an active state and federal advocacy agenda.
Staff also shared updates on plans for the 62nd ELFA Annual Convention, which will be held Oct 22 -24 in Phoenix, Arizona. Treasurer Dan Krajewski reported that the association is on target to meet its overall 2023 budget. The Nominating Committee has assembled a strong slate of candidates for Directors and Officers, which will be voted on by the ELFA membership prior to the Annual Convention.
Foundation Executive Director Kelli Nienaber offered an update on the activities of the Equipment Leasing & Finance Foundation.
The Board will meet next in October at the site of the ELFA Annual Convention. Its Executive Committee will conduct its summer meeting in August.
Kacey Digruttolo Joins ELFA Staff
Kacey Digruttolo has joined the association as Manager, Graphics & Production, effective May 8. In this role Kacey will produce all in-house graphics for the association and collaborate with colleagues across the organization to create high-quality visual solutions that reinforce ELFA’s brand, strategic vision and priorities. Kacey most recently served as Senior Creative Designer at the design firm Frequence and has a degree in Graphic Design from The Art Institute of Pittsburgh. She succeeds Sandra Winkler, who retired from the association after 21 years of outstanding service.
Independents Recognized
Congratulations to the 2023 Independent Business Council Steering Committee (BCSC) for winning ELFA’s Spring Recruitment Contest! This committee recruited more members on a percentage basis than any other BCSC in the spring timeframe and we thank you for your efforts!
ELFA Equity Committee Launches DEI Toolkit
Many equipment finance companies know that inclusivity is a key asset in creating a positive work culture and general success, but they don’t know exactly where to start. A new toolkit from the Equity Committee provides companies with tangible ways to integrate inclusion and access throughout all levels of an organization. Download the toolkit at www.elfaonline.org/DEI.
Webinars Attract Large Audience
If you missed a recent ELFA webinar, we’ve got you covered! Listen to recordings of these recent presentations—and more—at www.elfaonline.org/webinars:• Section 1071: It WILL Affect Your Operation — Here’s How, and What You Can Do to Prepare, hosted by ELFA’s Service Provider Business Council Steering Committee.
• ELFA’s Climate Finance Working Group Presents: A Briefing on the Inflation Reduction Act, examining legislation that provides for significant investment in clean energy.
• The NY Disclosure Laws Are Effective On August 1, 2023 – Will You Be Ready? Let Us Help!, providing an update on commercial finance disclosure legislation.
Congrats Grads!
An impressive 30 member employees completed ELFA’s “Principles of Equipment Leasing and Finance” curriculum this spring. They passed an exam and received certificates of achievement signifying their exposure to and understanding of the basics of equipment finance. The next Principles Workshop will take place Sept. 27-29 at ELFA headquarters in Washington, D.C. Learn more at www.elfaonline.org/POL.
Membership Minute
At ELFA’s Capitol Connections program in May, more than 140 attendees participated in a day of advocacy on Capitol Hill highlighting Section 1071’s Final Rule and the challenges it will present to our industry. Learn more on ELFA’s new Industry Topics page on the ELFA website dedicated to Section 1071 at www.elfaonline.org/1071. This portion of the site will serve as a repository for ELFA members as they get ready to be compliant with Section 1071 when it goes into effect for their institution. Contact ELFA’s Federal Government Relations team at [email protected] with questions.
Knowledge Sharing
ELFA was honored to host the staff of the Canadian Finance & Leasing Association for a day-long gathering at headquarters this spring. The meeting was a unique opportunity for ELFA’s Senior Team to exchange best practices and discuss common areas of interest with CFLA President & CEO Michael Rothe and his team.
New Resources for Emerging Talent
Are you new to the equipment finance industry or do you have employees who are? Discover a wide range of benefits on ELFA’s “Emerging Talent” webpage at www.elfaonline.org/emerging-talent, including: • Emerging Mothers in Equipment Finance: An Update
• “Ask a Leader” Interview with Reid Raykovich, CEO of the CLFP Foundation
Network with Emerging Talent in New Orleans
Are you a future leader who’s interested in meeting more people in the industry? The Sept. 13 Emerging Talent Networking Event is designed for just that purpose. It’s scheduled to coincide with the Lease and Finance Accountants Conference and Operations & Technology Conference. Conference attendees are encouraged to attend, as well as ELFA members in the New Orleans environs! Learn more at www.elfaonline.org/events.
What’s New in the ELFA Engage App
Kudos to the Q1 Contest Winner Congrats to Alisa Micarelli of PNC Equipment Finance on winning ELFA’s Q1 mobile app contest! Alisa answered a trivia question about Career Pathways in the ELFA Engage app and picked up some fun ELFA swag.
Join the Q3 Mobile App Challenge
Are you a sports fan? If so, who is your favorite team? Post a photo showing your team spirit in the ELFA Engage app for a chance to win a $25 Amazon Prime gift card and ELFA swag! Whether you attend live events or watch from home, ELFA wants to know. One winner will be chosen at random at the end of the third quarter of 2023.
App Reaches Milestone
Congrats to Kevin Rice of Financial Partners Group on being the 2,000th person to download the ELFA Engage mobile app! Kevin received some cool ELFA swag to commemorate this milestone. The number of ELFA Engage users has doubled in size over the past year. After launching in February 2020, the app reached 1,000 users in April 2022, and topped 2,000 users in May 2023. Download the app today and join our latest contest at www.elfaonline.org/app.
Strategy Meeting
In June the ELFA Senior Team got together for a dynamic and productive offsite planning meeting. The team discussed ELFA’s strategic priorities for 2024 and beyond. The discussion will continue at the ELFA Executive Committee meeting in August and the October Board meeting.
Save the Date: Aug. 10 Innovation Roundtable
ELFA’s quarterly roundtable sessions, facilitated by Deb Reuben of TomorrowZone, are an opportunity to find out what is on the mind of your peers, share ideas and discover new approaches for tackling your innovation challenges. Register now to join ELFA’s Innovation Advisory Council at the August event at www.elfaonline.org/events.
Equity Forum Happening Sept. 13-14
Mark your calendar now for the second annual ELFA Equity Forum. This special event, hosted by the Equity Committee, will take place Sept. 13-14 in New Orleans. Get a sneak peek in the feature story in this magazine. Learn more and register at www.elfaonline.org/events/2023/EQ.
Two Conferences for the Price of One!
ELFA’s Operations & Technology Conference and Exhibition will be held concurrently with the Lease and Finance Accountants Conference, Sept. 11-13 in New Orleans. Both conferences will share an exhibit area targeting companies that provide lease and finance accounting software, and other technology-related processes and systems. • Operations & Technology Conference - Provides direction and support for member companies using technology to improve business processes, enhance customer satisfaction and increase operational effectiveness. Learn more and register at www.elfaonline.org/events/2023/OT.
• Lease and Finance Accountants Conference - Provides the most up-to-date information on accounting issues that impact equipment lessors and your clients. Learn more and register at www.elfaonline.org/events/2023/LAC/.
New Data on Credit and Collections
The first-ever “hybrid” Credit and Collections Management Conference drew more than 190 senior credit and collections execs and seven exhibitors in June. A highlight was the release of the 2023 Credit Managers Survey and Collection Effectiveness Survey results, now available from the ELFA Knowledge Hub at www.elfaonline.org/knowledge-hub/most-popular. Kudos to Chair Sarah Palmer of Key Equipment Finance and the entire Credit & Collections Planning Committee for a successful event.
Tax Pros Gather in Cleveland
ELFA’s Tax Best Practices Roundtable drew more than 40 tax pros to Cleveland in June. Topics included sales tax, technology and tax department modernization, audits, property tax updates and best practices, and federal and state income tax. The event was sponsored by Vertex, the provider of the ELFA State Tax Manual, a state-by-state analysis of sales and property taxes that impact the equipment finance sector.
Communicators Convene
The ELFA Communications Committee met in Washington, D.C. in May under the leadership of Chair Keara Piekanski of Oakmont Capital Services. This committee of marketing and communication pros started the day with a tour of the White House and then gathered at ELFA headquarters for a day-long meeting where they offered counsel on the association’s outreach efforts.
Annual Report Highlights ELFA’s Value Proposition
The ELFA Annual Report celebrates the association’s community of professionals who come together to engage with each other, learn from each other and advocate for the equipment finance industry and its important role in our economy. Download the report at www.elfaonline.org/about.
Join the ELFA Equity Committee on LinkedIn
The Equity Committee is celebrating various diversity groups throughout 2023. For example, during Asian American/Pacific Islander month in May, the committee shared stories of the AAPI community as well as best practices for inclusion. During Pride Month in June, the committee shared a month-long series of resources, stories and events dedicated to uplifting LGBTQIA+ voices and culture. Follow along on the new ELFA Equity showcase page on LinkedIn at https://www.linkedin.com/showcase/elfa-equity.
See the Economic Impact of Equipment Finance
Equipment finance not only contributes to businesses’ success, but to U.S. economic growth, manufacturing and jobs. On ELFA’s Economic Impact webpage, check out an interactive map that reveals a state-by-state breakdown of the $1 trillion equipment finance industry. Also, download fliers illustrating specific industry information for each state at www.elfaonline.org/economic-impact.
What’s New: ELFA Volunteer Guide
ELFA is a volunteer-driven organization and each year hundreds of volunteers from member companies contribute their time and energy to drive the association’s mission. View the newly updated ELFA Volunteer Guide to learn about opportunities to serve at www.elfaonline.org/about/governance or contact Ed Rosen at [email protected].
Get Back to Basics This Summer
The longer days of summer offer a great time to catch up on industry education. Set a goal this summer to complete ELFA’s Fundamentals of Equipment Leasing and Finance course, which is designed for those who are new to the equipment finance industry, or as a refresher for those with more experience. For more information, go to www.elfaonline.org/events/fundamentals.
Job Seekers and Employers Meet in the ELFA Career Center
Turn to the ELFA Career Center at https://careers.elfaonline.org to meet your employment goals. If you’re a job seeker, search and apply for jobs in your field and enjoy free and confidential resume posting. If you’re an employer, post and track job announcements and search our resume database.
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