The Good We Do – Collectors’ Positive Impact on the Economy

Like many businesses, we belong to a national trade association that provides education, lobbying services, access and discounts to a variety of vendor partners, networking opportunities, and a host of professional improvement channels for it members.  I am a proud member and active contributor to our trade association; ACA International. (www.acainternational.org)

Last week I attended our national convention in Fort Lauderdale, and among the many tidbits I brought back was the most-recent national survey of our industry, performed by Earnst & Young.  This survey shows an economic snapshot of the positive benefits our industry gives to the national economy.  ACA also took the time to break down state-by-state data and has placed this report for public viewing at: http://www.acainternational.org/impact

Here are a few summary comments to consider:  based on 2010 data, the third-party collection industry recovered over $55 billion for creditors!  There is a direct + indirect payroll impact of over $10 billion with over 300,000 jobs with the industry and our affiliated business partners!

In Oregon, collectors recovered over $486 million in 2010, employ over 1100 people directly and the total direct + indirect payroll impact exceeds $64 million!  But the survey goes further, tracking and reporting volunteerism by our industry.  In Oregon, debt collectors contributed over $1.2 million and over 6800 hours to our favorite charities!

Occasionally, people comment to me something along the lines of: “People must not be happy to see you!”  But the fact is, our industry and our company makes a significant economic impact to every citizen in Oregon in a positive and meaningful way, either by reducing costs of goods and services or by contributing to needful causes and charities.  Our clients are very glad to see us!