As I travel around the country attending ELFA events and meeting members, it’s a great opportunity to take the pulse of the industry. Here are a few of the themes I’ve heard lately:
Importance of Education
I’ve heard a real desire for more training and development offerings for our members. The feature story “5 Ripple Effects of Training” highlights the value of training to equipment finance organizations and outlines a new series of online courses that ELFA will roll out later this spring. This free members-only benefit is an important step in reimagining our education and training—with more to come.
Speaking of the value of education, please save the date for the 2024 ELFA Annual Convention, Oct. 27-29 in Austin, Texas. Our theme this year, “Next Level Success,” is all about tapping into new possibilities to take your business, your career and our industry to the next level. Get ready to "level up" with new technology, new business models, new markets and new talent. And we’re “leveling up” the Convention this year to serve you! You’ll enjoy high-caliber educational sessions, unparalleled networking opportunities, innovation-focused exhibitors, and a great lineup of keynote speakers. We'll let you know when registration opens in June.
Industry Disruption
Members are also talking about changing dynamics among industry players, which could create opportunities for new entrants in equipment finance. In our cover story, “State of Credit and Collections: Navigating New Market Share Realities,” credit and collections pros report that they are feeling the reverberations from last year's Silicon Valley/Signature bank failures as well as Baltimore’s Francis Scott Key Bridge collapse. They note that despite potential disruptions, the sector is weathering the challenges. I encourage you to read their insights on competition, interest rates, delinquencies and hot markets like EV, AI and robotics.
To get an even fuller picture, join us at the Credit & Collections Conference, June 5-7—either in-person in Philadelphia or virtually. As one member said about the event, “I’m looking forward to hearing from others in the industry, both my peers on the bank side but also from captives and independents… It will definitely be relevant and beneficial given the fluid nature of events going on now.”
Economic Trends
Another hot topic I’ve been talking to members about is the health of the U.S. economy. In the video below, I’m pleased to update you on what we’re seeing in the market and hearing from industry members. I filmed the video in Chicago last month, where more than 700 members gathered for our Funding Conference, best practices roundtables and networking events.
Please don’t hesitate to contact us at ELFA headquarters if you’d like to get more involved with the association or if you have any thoughts or questions about maximizing your membership.
