New study shows chamber of commerce members offer safer bet when it comes to business credit risk
Chamber members pay their bills faster, possess better credit scores than other businesses
ALEXANDRIA, Va. – February 22, 2010 -- The American
Chamber of Commerce Executives (ACCE) today announced
the publication of a new study detailing the credit scores and
payment behavior of ten local chambers of commerce across
the United States, comparing their member businesses with
other regional, state and national business averages. Produced
by Cortera™, a community-driven business credit bureau, on
behalf of ACCE, the study includes the Bowling Green (KY)
Area Chamber of Commerce, Greater Boca Raton (FL) Chamber
of Commerce, Greater Durham (NC) Chamber of Commerce,
Greater Omaha (NE) Chamber of Commerce, Helena (MT) Area
Chamber of Commerce, Lake Champlain (VT) Regional Chamber
of Commerce, Lubbock (TX) Chamber of Commerce, Salem (OR)
Area Chamber of Commerce, San Diego (CA) Regional Chamber
of Commerce, and Tulsa (OK) Metro Chamber. According to the
study, chamber of commerce members possess an average
credit score of 629, compared to a 557 average score for
businesses at large. Such scores – the payment behavior from
which they are derived -- play a significant role in attracting lines
of credit and securing favorable terms from lenders and suppliers.
A complete copy of the study, which includes both the
aggregate findings, as well as the individual commercial credit
scores for each of the ten local chambers, is available on the
ACCE and Cortera sites. The study was contracted by ACCE
and performed by Cortera, which reviewed payment behavior for
chamber member businesses.
"Chamber members have long been seen as responsible and
reliable members of their community," said Mick Fleming,
president and CEO of ACCE. "What this study indicates is that
the perception is right. From a credit standpoint, chamber
members on average are better businesses, and as a result they
have significant advantages in obtaining the funds they need. In
this economy and the tight credit environment we are
experiencing, that's especially important."
"The economic health of the entire supply chain is dependent
on the payment behavior of each of its stakeholders," said Jim
Swift, president and CEO of Cortera. "This study suggests that
chamber members are among the most dependable participants
in this ecosystem."
