ELFA Membership puts you ahead of the competition and helps you operate your business profitably. The benefits for community banks include:
Why Offer Equipment Leasing and Financing?
According to the report "Community Banks and Equipment Finance: What It Takes To Be a Success" from the Equipment Leasing & Finance Foundation, equipment leasing and financing products enhance a community bank's value and its ability to engage small and medium size businesses. The benefits of leasing and financing include:
- Prospecting and developing new business clients.
- Strengthening business relationships and community involvement.
- Diversifying your portfolio and expanding into new markets.
- Maintaining a consistent, low-risk, profitable revenue stream.
- Taking advantage of stable earning assets with low delinquency rates and a low-cost method of loan origination.
Meeting your customers' leasing needs with the knowledge and expertise from ELFA will help to ensure they won't go elsewhere for financing.
How Can a Community Bank Benefit From Membership in ELFA?
"Having the ability to speak with a knowledgeable industry peer about regulation, accounting rules, documentation, etc. is invaluable. Community banks are deeply involved in their communities and so may not be as familiar with national trends or other aspects of the business outside the community banker's footprint. ELFA membership expands your network to the whole country. Plus, if you ever need help with a complicated issue there are many executives at large domestic and international finance companies who have always been generous with their time and expertise. ELFA membership is mandatory for every community bank owned equipment finance company, in my opinion."
- Hugh W. Connelly, CFA, CFS, President, Univest Capital, Inc.
Expertise. ELFA is a resource for information on a wide variety of products that finance any type of equipment.
Education. The course work necessary to begin developing equipment financing expertise is offered through ELFA.
Industry Awareness. Equipment finance is a dynamic industry with constant changes in tax, accounting and equipment. The best information on these subjects is offered through ELFA foundation papers and newsletters.
Professional Relationships. Members of ELFA are open, sharing and approachable. So no matter what the size or scope of your organization you can find fellow members who have or will be addressing the same problems/issues you have. By attending ELFA events you can develop these relationships.
- Harry J. Kaplun, President, Specialty Finance, Frost Bank
Community Banks in the News
According to the October 2013 ABA Banking Journal article, "Banks Find New Life on Lease: Venturing into Equipment Leasing Demands Experience, Flexibility," community banks have expanded into equipment leasing to find another source of revenue and add value to their existing client base. The story features testimonies from several ELFA-member community banks.
Become a Member
To join ELFA today, submit the Community Bank Membership Application and save on the first year of membership dues. To learn more about this limited-time offer, please contact:
Vice President, Membership Marketing
Learn more about the value of ELFA membership