Management is thinking of cutting our department budget. What
do you think is the biggest benefit of joining or, in our case remaining
a member of an industry credit group?
Answer: I think the insight you gain about the risks associated with doing
business with common customers more than offsets the costs associated
with being in a local industry credit group. If you are referring to
a national credit group in which you are required to travel around the
country for industry group meetings, the benefits almost certainly outweigh
the costs unless there is very little overlap between your active accounts
and the customers being discussed at the group meetings.