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!

The American Chamber of Commerce Executives (ACCE) recently 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 studied 10 local chambers and found 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.

“As a member of the Board of Directors for ACCE, I am pleased to see the results of a new study which indicates Chamber Business Members as a whole are better credit risks than non chamber members,” said Duane O’Neill, president and CEO of the Greater Jackson Chamber Partnership.

“Our Chamber members have been, and continue to be leaders in not only the corporate environment, but the community at large,” he said. “During the challenging economic times that continue to face us, it is encouraging that Chamber member businesses are more likely able to secure funding for projects.

“The survey was very comprehensive and therefore the results make a huge statement on the advantages of being a member of the Greater Jackson Chamber Partnership.”

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. The 10 chambers studied 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.

"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."

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