Serving credit professionals every Christmas...since 1899
Vashon Island Reindeer Pond - Hand dug and 160' across
Monthly news & updates
December 2020
2020 - The Shining

A few thoughts from
Jon Flora, President & CEO
A year ago, we were looking forward to having 2019 go into the history books. I can’t remember why but it was definitely time to end it. And then along came 2020.

Who would have thought that the New Year would be a Steven King novel?
I was talking with one of our Alaska members yesterday who was reflecting on her experience at our annual Hawaii Credit Forum last January. We agreed that the conference helped get the year off to a good start. When we landed back in Seattle the first week of February, the last thing we expected was that our normal lives were about to be turned upside down and inside out.

For our NACM families, friends, and colleagues who have had COVID, we hope you are well. Your stories have had an impact on us. For those still wrestling with the virus, please know that we are holding you close in our thoughts and prayers.

If you have been furloughed, laid off or are struggling to find work, we stand ready to help you however we can. Please get in touch.

After Washington’s Governor sent us home in March, it was quiet for a few days. But, the following week, the calls and emails began anew with vigor. Beyond the normal Customer Care requests, many of the phone calls had nothing to do with credit. People just wanted to talk to someone.  For those first couple of months, we sometimes felt a little like therapists and hopefully we were helpful to you. Truth be told, we needed and wanted to talk to you, too. The experience really spoke to why we have this association of good friends, colleagues, and partners.

As the months have passed, we have all found our own ways of dealing with COVID. Zoom calls, a walk around the neighborhood, a gratitude journal. Whatever the manner of coping, most of us have tried different ways to keep it all together, stay level-headed, and focus on good things.

News of vaccines certainly is welcome. Yet, the likelihood that we’ll be dealing with the pandemic for much of 2021 seems to be quite real. That means we are going to keep trying different ways to help our members and customers. You can expect periodic phone calls from us just to check in and see how we can be of service to you. Don’t be shy. Tell us what you need. If we can deliver it, we will.

We are also looking at new and different educational opportunities. Our 2021 Monthly Webinar series will have new topics and new presenters. For several of them, you will want to invite your company’s leadership. We will also begin offering new online courses in the New Year. If you have ideas for other offerings, please let me know: .

The coming holidays will be different this year. Although festivities will be curtailed, the spirit and meaning of the season remains stronger than ever. We might have to work a little harder, but this is still a time to be grateful for all we have in our lives, to share with those in need, and celebrate our faith and friendships.

For all of us at your association, I wish you a Merry Christmas, Happy Hanukah, and a joyous holiday season. Thanks for being part of NACM Business Credit Services.
Upcoming Events
See what's happening this month...and beyond
Industry Groups

NOTE: All Group meetings are being conducted online until the Coronavirus subsides. Hawaii Hospitality is on hiatus throughout COVID-19.

Puget Sound

Thursday, 12/10
11:30 Floor

Tuesday, 12/15
11:30 HVAC

Wednesday, 12/16
11:00 Tacoma Construction
1:00 Food

Thursday, 12/17
11:00 Eastside Construction
1:00 Wiring


Wednesday, 12/18
1:00 (AKDT) Alaska Suppliers


Mele Kaikimaka - No meeting
Hawaii Building

Education and Events

Monthly Webinar (Free)

Alaska Economic Review
Neal Fried, Alaska State Economist

December 8 - 12:00 (11:00 AKT)
Conferences - Save the dates

Southwest Business & Construction Credit Conference
April 15, 2021

NACM National Credit Conference
Kansas City
May 16-19, 2021

Virtual Plus
June 8-10, 2021


Christmas Day, December 25th

New Years Day, January 1st

NACM BCS will be closed both days.
Presenter: Neal Fried, Economist
Labor & Workforce Development
State of Alaska
Alaska Economic Review

December 8 - 12:00 PT / 11:00 AKT

This complimentary presentation is available to all members and customers in all 50 states.
The Seattle/Tacoma area has been the gateway to Alaska since 1899 and remains so today. Labor and Workforce Development Economist for the State of Alaska, Neal Fried, is the resident expert on everything when it comes to the economy of our 49th state, and how it relates to the Lower 48 and Hawaii. The challenges of recent years ranging from low oil prices to the impact of COVID on their tourism industry will be a featured part of his remarks. Neal will take a look a back at the past few years and give you his thoughts about the future of the state based on his decades of experience studying data for one of the most unique economies in the USA.

Neal has been a regular participant in our Anchorage educational programs for a number of years. This year, we are pleased to welcome him online. And, new this year, we are pleased to welcome all members from Alaska, the Lower 48 and Hawaii. Many of you have a professional and personal interest in Alaska, and Neal is the one with the clearest crystal ball about the future.

Did you miss the most recent Monthly Webinar? Or our podcasts?
If you have missed previous presentations, here's your chance for a re-do. Just click on the link below and you can watch or listen to several recent presentations. Best of all, they're all FREE! Just click below.

NACM Scholarship Program
Every year, several of our members receive scholarship support for their ongoing professional education through our association's scholarship program. Funding is provided for conference and course registrations and typically the scholarships cover the entire registration cost for an educational program (excluding travel and incidentals).

Funding for these grants has been built up over many years through special events, direct contributions, and sponsorships. Today, those funds are managed through our Business Credit Foundation, a separate 501c3 charitable organization. Any contribution made to the Foundation is tax-deductible and can be either a personal or corporate gift.

You also have the opportunity to take advantage of the Amazon Smile program. If you're shopping on Amazon, log in through and select the Business Credit Foundation. A percentage of most purchases will be given to our foundation to help grow the scholarship pool. Over the last few years, several hundred dollars has been given to the Business Credit Foundation which has come back to our members. Just clink on the Amazon logo below to help out.

If you would like more information about giving directly to the Business Credit Foundation, please click on the blue logo below.

Thank you for your support. Happy holidays!
Best Practices to Follow
Pull your credit reports
Over the last 121 years, NACM BCS has learned a lot about how to navigate economic challenges.

The best lesson is: Don't forget to pull credit reports. Even when business is good, knowing what's up with your customers is critically important.

Right now, business is good for many of our members and customers - especially in construction-related fields. And, when business is good, we often see companies get comfortable and stop pulling credit reports on customers. What happens next is that calls for help with Collections rise exponentially.

If ever there was a time to follow best practices, now it that time! We are seeing members reducing their credit report use while the calls to our Collections are on the upswing.

We are always happy to help you any way we can. And one of those ways is to remind you to follow best practices, so:

Keep yourself out of trouble. Pull those credit reports!!
Get on top of delinquencies
In addition to regular use of credit reports, history tells us that the sooner you deal with A/R issues, the better off your company will be.

Just as we've noted about trends in credit report use, we are also seeing a trend of letting delinquencies linger. The longer those past due bills are allowed to lanquish, the harder it will be to get paid.

There's as easy solution. Turn your A/R over to us for Collections and we can help get you paid soon.

Please call us at 800-423-5710
Online Conferences in 2021
Arizona desert landscape_ Phoenix_Scottsdale area.
Southwest Business & Construction Credit Conference

April 15, 2021
Save the date. More details to follow.
Business News
Moss Adams CPA is the accounting firm that annually reviews the financial condition of NACM Business Credit Services. They often offer helpful information about current events that we share with you.
What to expect from the Biden Administration tax proposals
With Joe Biden the apparent winner of the US presidential election, NACM auditor and CPA firm Moss Adams takes a closer look at how control of the US Senate could affect his proposals, compare and contrast them with current tax law for businesses and individuals. They also recap economic reactions post-election.

Why the Dow 30,000 is no reason to celebrate
The famed benchmark reflects the headlines and underlying economic and financial conditions, but doesn’t respond to them.

But investors respond when benchmarks cross a big number or hit record territory, even though those big numbers have about as much meaning as odometer readings or mile markers; they tell you how far you’ve come but not how far you’re going or the likelihood of reaching your destination.

Seattle-area home price growth continues to accelerate
Home prices continued to rise fastest in Phoenix — 11.4%, year-over-year — but Seattle once again charted the second-fastest growth in the nation, at 10.1%, year-over-year. September was the eighth consecutive month Seattle was second to Phoenix in terms of home price growth.

The current average home price in Seattle is $778,500.

FACTOID: Current mortgage rates

  • The average rate on the 30-year fixed-rate home loan: 2.72%
  • The rate on 15-year fixed-rate loans remains at 2.28%.

A year ago, these rates were 3.68% and 3.15% respectively

Washington's seafood industry struggles during pandemic
The coronavirus pandemic continues to hurt the seafood industry – and local fisheries are being forced to make major pivots to stay afloat.  

A new University of Washington study found that monthly fresh seafood exports declined up to 43% compared to last year, while monthly imports fell up to 37%, and catches dropped 40% in recent months.

Hawaii seeks to be seen as a remote workplace with a view
The pandemic is giving many workers the freedom to do their jobs from anywhere. Now that Hawaii’s economy is reeling from dramatically fewer tourists, a group of state officials and community leaders are trying to attract more people to work remotely in Hawaii during the pandemic.

COVID cut Alaska salmon catch and fisherman's pay checks
Tamped-down prices due to toppled markets caused by the coronavirus combined with low salmon returns to many Alaska regions added up to reduced paychecks for fishermen and will mean lower tax revenues for fishing communities.

The statewide salmon value of $295.2 million is a whopping 56% decrease from 2019′s $673.4 million, and when adjusted for inflation, it is the lowest value since 2006.

Canadian companies are eyeing Whatcom County for expansion
In recent months Whatcom County has received a significant uptick in inquiries from Canadian manufacturers interested in moving or expanding in the area. At a recent Port of Bellingham commissioners meeting, they have received more inquiries in the past three months than they had in the previous three years.

Careers and Employment
Using LinkedIn in your career pursuits
Now that grabbing drinks with former colleagues or hobnobbing at work conferences is off the table, LinkedIn has been promoted from obligatory to essential.

Since March, LinkedIn, which is owned by Microsoft, has introduced a number of tools to help its 706 million members connect to more than 14 million job postings and learn new skills for career development

Are you trying to fill a position? Use our Job Center!
Take advantage of the Job Center at If you're having trouble filling a position in your company, use this opportunity to reach a lot of people!

It's easy to post an opening. Just fill out the form. After that, the most viewed part of our website will get attention to your needs.

Best of all, it's a free service that comes with membership in NACM BCS.

Happy Holidays from NACM Business Credit Services

Seattle Seahawks 8-3
1st in the NFC West

Go Hawks!