Alabama Consumer Finance Association
The Alabama Consumer Finance Association focuses on being the leader and Pre-Eminent Trade Association representing the interests of licensed Alabama Consumer Credit Act (Mini-Code) and Alabama Small Loan Act lenders in the state. We believe the goals of the Association to be the common goals of our member companies and our combined efforts provide more benefit for less – with equal voice in Association affairs of ALL our member companies.
We publish a newsletter to keep our membership informed of developments of common interest in the legal, regulatory, and compliance areas of our business including articles which will help our member companies better serve their customer financial needs in the local communities in which they operate. We sponsor, produce, and present seminars and training activities for our member companies which will enhance their qualifications and expertise in providing the very best consumer lending services to their customer base. The Association provides the opportunity for fellowship within our membership with meetings and an annual convention to share ideas of mutual interest for development and growth of our industry.
ACFA has two classes of membership – Regular Member and Associate Member. Regular memberships are for those persons, firms or corporations engaged in consumer lending in the State of Alabama as a licensee under either or both the Alabama Consumer Credit Act and Alabama Small Loan Act. Associate Memberships are for those persons, firms or corporations doing business with, associated with, or providing a product or service to any Regular Member Company of the Association.
The goals and objectives of the Alabama Consumer Finance Association are:
- To create a better public understanding of our industry and conduct public relations and activities within the state on behalf of our membership;
- To support high business standards, decorum, and ethics in consumer lending by our membership;
- The interchange of ideas, methods, and information among our member companies;
- The promotion of credit counseling and the wise use of credit by the general public;
- To work closely with the Alabama Department of Banking – Bureau of Loans and the Department of Insurance relative to regulatory matters and the supervision of consumer credit activities on behalf of our membership;
- To provide current educational opportunities in lending practices and regulatory compliance issues for our member companies and their staffs by development of seminars and publications for use in training and operations;
- To employ the very best legal counsel for the Association who can and will help keep the Association abreast of changing legal issues and who will represent the Association before regulatory bodies – both state and federal;
- To keep the Association membership fully informed of changing economic and legal issues of interest by publishing a bi-monthly newsletter and other communications;
- To promote relations with the general public through community development and educational programs as a re-investment for community growth and stability;
- Schedule and conduct regular association meetings and an annual convention for the opportunity of fellowship by association members, the exchange of ideas, and input for the operation of the association for the benefit of the entire membership.