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.
The majority of these pioneers were located in California and more specifically in the San Francisco Bay area. To gain traction, these men made huge sacrifices to relocate their families to places like Chicago, New York, Saint Louis, Los Angeles, Pittsburgh and Washington D.C., Having no jobs, no businesses and no place to call home, these individuals followed their vision and gut instinct. They knew they were going to change the face of the financial lending programs in America for many years to come.
During the early 1930's these pioneers set out across the country following their visions. After settling in new areas they went about the task of setting up their individual businesses. Getting the word out to the lenders in their areas was one of the problems that they faced. They wrote back and forth, sharing working and non-working ideas and information. The major difficulty facing them was convincing lenders that such a network existed and was in place. While each of these men was now in business, collectively they felt that since they started as a group they should remain a group. 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.
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.
With the war in full swing the new business of finance adjusting was going on the back burner. This new business looked to be finished. Cars were not being built. There were no spare parts to keep existing cars running. Those that were running had no gas to put in to them. Faced with this situation the association adopted a stand down approach. Some members went off to fight the war and others found positions for the war effort in other areas.
In the post war era the leaders of the association tried to pull the association back together. The original vision had lost its luster. Differing opinions by members ensued. There were ideas to stimulate interest through jealousy, and others wanted to start a ghost association to stimulate competition. 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.
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 and per the articles of incorporation, all funds generated by the association are to be spent on cooperative advertising and the direction of the association. Allied has no paid officers.
All was well within Allied for the next 25 years. At that time 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.
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.
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.
Now, as when we were founded, Allied is in the process of rebuilding for the future. 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. Min 2012, Allied created a compliance program for its members, is providing a Federal Employee Handbook and is hosting a Human Resource Help Desk to further the professionalism demanded by legislation and the industry itself.
Allied may very well be your best investment for the future but you must be prepared to pitch in and work. Just the same as the founders of this association way back in the 30's, it takes energy and guidance from each and every member of this association to make it work for us all. Current members of Allied Finance Adjusters Conference, Inc. encourage and support fellow members and all new applicants desiring to get in on the ground floor of the oldest, largest and fastest growing independent repossessor trade association. For an application or information on the association, please call us at 1-800-843-1232 or you may visit us at Allied Finance Adjusters