Study: Chamber Members Have Better Credit
The American Chamber of Commerce Executives recently released a study that examines the credit ratings of chamber of commerce members in ten locations across the county and compares them to the state, local, and national averages.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 online. The study was contracted by ACCE and performed by Cortera, which reviewed payment behavior for chamber member businesses.
"Chamber members have long beenseen as responsible and reliable members of their community," said Mick Fleming, president and CEO of ACCE. "What this study indicates is that the perceptionis right. From a credit standpoint, chamber members on averageare 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."