The Credit Institute celebrates its 80th birthday in 2008.  We can be proud of its history of accomplishments, but must not accept complacency. Look at the effect of new competitors, with new technologies, on any number of industries. The North American automobile industry is a stark reminder that we cannot rest on our laurels. Foreign competition researched our market, and set new standards for production and quality improvements in their quest to win our hearts, minds and pocket books. The message is simple… continued process improvement is a must. Without it, you run the risk of being replaced or becoming obsolete.

When I joined the National Board, one of my first tasks was to review hundreds of Strategic Planning Survey questionnaires. They weren’t simple “Yes” or “No” answers. Our members were encouraged to speak freely and many of you did. Two quotes from our members represented the theme of the vast majority of respondents.

“Expand and grow or slowly die.”

"The most important issue for the Institute is Awareness & Recognition by the Business Community in Canada, and even by its own members"

We need to be recognizable in our market and others, as the unmistakable leader in credit education and credit research in Canada. The loss of credit positions to our largest trading partner is not new. However, it does present opportunities.  Today, companies in the United States need our services more than ever. Instead of lamenting our losses, we need to be innovative. The Credit Institute needs to reach out to companies in the U.S. and satisfy their quest for knowledge of our marketplace, and our laws.

The job of our new Board shall be to invest wisely in our core educational programs and expand into new areas. We will embrace technology for the betterment of our members, students and Chapters. We will unlock the potential of our substantial investment in the iMIS database to deliver new products and services to our stakeholders. We will consider all options in growing our business and raising the profile of the Institute and your designation.

Peter Drucker said, “Knowledge becomes obsolete awfully fast. The continuing professional education of adults is the No. 1 industry in the next 30 years…mostly online!”¹ The need for our services is clear. We need to better address the personal time constraints and professional demands on our members and students. Our Webinar program is but one example of our efforts in this regard. This program (with archived presentations) provides a more convenient opportunity for the on-going professional development of our members and has been very popular since being introduced last year.

We recognize the need to put our core courses online and are taking steps to accomplish that. Lecture notes for CR1 have been available to our students, on beta trial, since September. Feedback from students has been extremely favorable. CR2 lectures will be online by January. Our National Board recently also approved updating our Credit Basics program. A proposal has been made to the Canadian Credit Institute Educational Foundation (CCIEF) to fund the cost of updating and making the course available online. We hope to have some news in this regard early in the New Year.

We have begun the process of revitalizing “To Your Credit”. We will publish 4 times per year, instead of three. Our efforts are focused on making the content more relevant for members. To support this goal, a new Communications Committee, to work in conjunction with National Office, is being organized.

Correspondence courses are a challenge, as most of our students will attest. While there’s no real substitute for in-class programs, we can make our program more palatable. Online lectures are but one example of this. Our students also need to have the ability to communicate with each other, as do our Chapters and members. Student and Chapter portals are a priority and we hope to begin programming to make this a reality in the short term.

I would be remiss if I did not speak to our Francophone stakeholders directly. Unfortunately, we have not done enough in the past to address your concerns. I believe you have already begun to see positive changes in this area. Our new General Manager, Regina Delovitch, is bilingual, enabling her to communicate more effectively with our partners in Quebec. Our Webinar series is being offered in French as well as English. The proposal to update Credit Basics includes French language translation.  We are pleased with the appointment of Christian Fortin to the position of National Director, Quebec City Chapter, and look forward to better communications with our members in Quebec.

The Institute has turned from erosion of our members’ equity a few years back, to respectable surpluses in recent years. We need, however, to achieve more than we’ve been able to accomplish through cost reductions and increases in membership fees. Informed and judicious investment of members’ equity will ensure that the Credit Institute will remain strong in the future. Our increased investment in marketing appears to be working and our Chapters are an integral part of this awareness campaign. This year, each chapter is entitled to receive up to $2500 towards marketing costs. This program surpasses the Co-op Advertising Program and the Revenue Sharing Program hands down.

In accepting the position of President and Dean, I undertook to do what is within the power of our staff at National Office and the National Board to realize your aspirations for our Association. We look forward to working with our members and students, Chapters and Forums, old Affinity partners and possibly new ones, to realize student and membership growth, as well as greater awareness of the Credit Institute.

“The greatest danger for most of us is not that our aim is too high, but that we set it too low and reach it.”²

Thank You.
Respectfully submitted by
Rodger D. Noel, B.Comm., A.C.I
Chairman, President and Dean
Credit Institute of Canada

Phone: 1-902-450-5070
Fax: 1-902-450-5220
Email: dean@creditedu.org

1. Peter Drucker, Business 2.0
2. Michaelangelo