The History of NEAMA


New England Adjustment Managers Association, Inc. was founded in 1969 by a group of 8 Collection Managers and Supervisors of banks who were alarmed at the high rate of delinquency and charge offs in the area. They first considered having a few meetings to discuss problems associated with collections, but soon realized that the need for information sharing and networking was greater than they had anticipated. A decision was made to form a group and name it the New England Adjustment Managers Association, Inc. (N.E.A.M.A.) The aim of the association would be the promotion and development of consumer and commercial credit adjustment as a profession.

The first chairman, John Fitzpatrick of the Worcester County National Bank was elected in 1969. Membership growth was slow at first but grew steadily after the Constitution and By Laws were adopted in February 1971. Members now come from throughout New England and we have grown to include credit unions and other credit grantors as well as banks. Our associate membership of industries which service the collection area of these credit grantors is a definite key to the accomplishments of our goals. The membership fluctuated as the financial industry experienced many changes and consolidations during the turbulent 80's and 90's. N.E.A.M.A. presently has over 50 member institutions, and over 30 associate members.

Several of the founding members are still active in the organization providing direction and education to the group. N.E.A.M.A. meets monthly providing speakers for current topics relevant to the collection or credit field. N.E.A.M.A. Inc. is a non profit organization and has a yearly seminar with the purpose of furthering our professionalism in the collections field. NEAMA also provides scholarships to students for college education expenses. We continue to have the growth of our organization as our main goal. One of the Prime advantages from being members of N.E.A.M.A. is being able to take advantage of the knowledge and experience of the membership.

Our Values


We discuss mutual operating problems and trends in our business at our business meetings. Through our Legislative Committee we keep our members informed of legislative events or information, which affect our industry. A luncheon speaker is normally provided to discuss a timely subject pertinent to our industry. Prior to our meeting time is allocated for the purpose of discussion, which is also a valuable networking opportunity.


A newly formed Public Relations Committee has been established for the purpose of promoting and expanding N.E.A.M.A's prominence in the collection field. N.E.A.M.A. is always encouraging new members from banking, credit unions and other financial organizations involved in credit collections to join our organization.


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