Allied Finance Adjusters – AFA

Allied Finance Adjusters (AFA) is the largest, not-for-profit, national trade association of certified, insured and CFPB compliant recovery professionals. AFA has led the industry as the first trade association to offer its members CFPB Training & ongoing continuing education. AFA Members are the most professional in the industry at locating and repossessing collateral on behalf of all lending institutions including, banks, credit unions, financial institutions, rental & leasing companies, buy here pay here, auto, truck and equipment dealerships. All new AFA Members must pass rigorous physical office inspections and background checks. AFA does not support Phantom or Ghost offices period. All AFA members are independent professional business operators and are covered by the AFA $1,000,000 Fidelity Coverage Policy. For more information please contact our home office (800) 843-1232. “Professionals Hire Professionals”

ALLIED HISTORY

The Beginning:
Allied Finance Adjusters Conference, Inc. was founded in 1936 by eight men with a profound vision of the future. A few years prior to our founding a new financial instrument was initiated by the financial community known as Chattel Mortgage Lending. That instrument and the new mobility of borrowers at that time sparked the idea of coordinating a network of collection people to strategically locate collateral nationwide and assist lending institutions in recovering property from defaulted agreements. They had the first meeting in Saint Louis, Missouri in the summer of 1936. At that meeting this association was formally born. The name chosen was “THE NATIONAL ASSOCIATION OF THE ALLIED FINANCE ADJUSTERS CONFERENCE.” Following an election of officers, a blue print plan for the future was created. They pooled their money and invested in cooperative advertising. Thus the first finance adjusters’ directory was printed and mailed to lenders across the country. It was printed on newspaper stock and mailed first class. Keeping in mind that this was the 1930’s, all of this work was done by hand, the hands of our founders, all working together to reach one goal, serving the financial community.

1940’s
As the years progressed the association began to grow in membership and in lender acceptance. Membership doubled and then tripled into the early 1940’s. The members were becoming trusted “allies” of the financial community. All was going according to plan. The association was growing and they were holding annual meetings to discuss the direction of the association. All efforts came to a halt when the United States entered World War II.

Post War:
There was divisiveness in the ranks so strong the association split into two separate entities. The name of the association split as well. Thus the founding of Allied Finance Adjusters Conference and its offshoot National Finance Adjusters was spawned. The competition was healthy and both associations began to grow and prosper. Allied was incorporated in 1951 in the state of Illinois as a Not For Profit Corporation. As per the articles of incorporation, all funds generated by the association are to be spent on cooperative advertising, education, awareness and the operation of the association. Allied has no paid officers.

1980’s:
All was well within Allied for the past 25 years. Then due to circumstances beyond the control of the association the Department of Justice decided that it wrong for the association to publish a minimum price schedule for the services offered. The Justice Department brought action against the association and in addition was cited for a restraint of trade due to the association’s exclusive membership. In 1980 Allied entered into a Consent Decree to eliminate publishing suggested rates and fees thus eliminating the problems dealing with the charge of price fixing.

1990’s:
Things began to settle down and Allied began to grow again. Much the same as the kids game of “King of the Hill”, Allied was again threatened with a suit for restraint of trade due to its exclusive membership format. At a meeting held in the early 1990’s a motion was brought from the floor stating that any territories that were open as of that date were no longer exclusive. The motion went on to say that, at the current members discretion in any territory, the member may, at his option, elect to make his membership non-exclusive. Further, if for any reason any territory becomes open, it shall not be re-opened as an exclusive. The motions carried.

2000’s:
Allied is now and has always been in complete compliance with the Consent Decree entered into in 1980. Since 2008, there are no exclusive territories and Allied has welcomed all applicants meeting its strict criteria. There are benefits to holding a membership in the Allied Finance Adjusters Conference, Inc. Those benefits are as always, cooperative advertising coupled with conventions that educate, inform, and encourage client participation and interaction. Allied also has a public relations program that sets up display booths at many Bank and Credit Union functions each year. Membership dollars go to fund these programs and not into the pockets of those who purport to be acting in your best interest. In 2006 Allied launched its new website.

2010’s:
In early 2011 Allied spent months revamping the AFA website, adding state of the art membership databases and search engine functionality, allowing the automation of the new member application process. The new secure and compliant client assignment portal uses no third party software. Allied’s new website was designed and built with the client in mind.

In mid 2012, Allied and RSIG created the first ever “Consumer Financial Protection Bureau (CFPB) Compliance Training” education program for its members. Allied also created a standardized “Federal Employee Handbook” for its members to further the professionalism demanded by legislation and the industry itself. By late 2012 CFPB was in full swing. Allied simplified the process of providing clients with its members compliance documents via the AFA Website. Clients can now view the members profile page and download their basic compliance documents with one click. This program is strictly voluntary and by mid 2014 over 3/4 of the members have participated in uploading documents.

2013 brought the first ever joint convention with Allied and RSIG. Located in Ft. Lauderdale, Florida the attendance exceeded over 400 vendors, speakers and repossessors. The event was the largest gathering in history. This same year Allied was the first trade to mail out two membership directories. The Annual directory was sent out to over 27 thousand banks, credit unions and financial institutions nationwide. The Midyear directory was mailed to over 14 thousand automotive new and used car dealers, buy here pay here and subprime lenders nationwide. In early 2013 over 41 thousand directories were put into the hands of clients. A industry first! Late 2013 AFA invited TFA and RSIG to attend their Mid Year Meeting. They offered CFPB Compliance training to all members.

In 2014 Allied again joined RSIG in Chicago, Illinois for their annual convention, breaking records and industry firsts run in the Allied family! The joint convention in Chicago exceeded 500 attendees. In Mid 2014 Allied introduced “The Star Recognition” program. Members are now recognized on the AFA website for their service and commitment to Allied. Members receive gold stars for; serving on the board of directors, being a committee chairperson or a divisional director and receiving an award. Members also receive a star for 5 years of continuous membership. This identifies to the client the members participation and ongoing commitment to Allied. At the same time Allied introduced the first membership interactive search map. Clients can now search by their customers zip code, locate the closest Allied member, zoom in and see the Allied’s members physical office location via street view. Allied does not allow ghost or phantom member offices period. This is Allied’s commitment to the truth in advertising to the lenders and clients. By late 2014 the Allied membership exceeded 300 members, actual members not offices or locations. Making Allied the largest trade to the industry by leaps and bounds!

In 2015 Allied released on their website the “State Facts and Requirements” pages. Clients and members can now search by state for the laws and licensing requirements regarding repossessions. The amount of data collected on these pages surpasses any other trade in the industry. In late 2015 Allied implemented the first ever Client login! Clients can log into the AFA website, add the members they have approved and manage their compliance documents. Clients will be notified of the members expiring documents and can contact the members directly through the system, make notes and much more. Another first in the industry!

In 2016 Allied released the most invading and cutting edge mobile app of any trade in the repossession history! The Allied Finance Adjusters Conference app is available on Apple IOS, Microsoft and Android platforms. The app includes live real time member search function, convention functions, notifications and more. This state of the art mobile app will be ever developing.

Be alert, be aware, stay alive

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