IACC Surpasses 400 Members

MINNEAPOLIS – The International Association of Commercial Collectors (IACC), already the world’s largest international trade association for commercial collection professionals, recently surpassed 400 members, achieving a milestone and a new membership record.

The current roster of 402 is the association’s largest since its inception in 1970.

IACC’s increasing membership is further evidence of a broad growth trend seen also in industry revenue and employment figures.

According to the U.S. Census Bureau’s most recent Economic Census report, 127,605 people were employed by third-party collection agencies nationwide in 2002, up more than 50 percent from the 84,333 reported in 1997.

Industry receipts rose 54 percent from 1997 to a total of $8.8 billion in 2002, according to the report.

The expansion is particularly noteworthy in the area of commercial collections. Although consumer collection has long represented the bulk of industry business, commercial activity is narrowing the gap.

According to the Economic Census, fees earned through commercial collection activity in 2002 represented 28.7 percent of total industry receipts, up from 21.9 percent in 1997. Consumer collection activity accounted for 67.6 percent of total industry receipts in 2002 and 73.7 percent in 1997.

“As delinquencies in business-to-business debt continue to rise, the commercial collector continues to grow in prominence in our industry, making the IACC an increasingly important resource for credit grantors and collection professionals,” said IACC President David Ward. “As the largest association serving commercial collectors, the IACC will continue to provide innovative products, services, training and education to help its members deliver quality and excellence in their service to creditor clients.”

With 238 collection agency members and 164 attorney and associate members, The International Association of Commercial Collectors Inc. (IACC) is the world’s largest international trade association for commercial debt collection professionals. Headquartered in Minneapolis, IACC serves members throughout the United States and in 24 other countries worldwide. Members of IACC recover millions of dollars annually for their clients and provide valuable assistance to credit departments in controlling mounting debts. To learn more, visit the IACC Web site at http://www.commercialcollector.com.