New Name and Expansion Plans for Recovery Cooperative

NFA_newPress Release

March 8, 2013 – As a part of the recent merger between the two largest trade associations in the vehicle recovery industry, American Recovery Association (ARA) and National Finance Adjusters, the national recovery cooperative, formerly called Relliance Inc., is making big changes as well.

The largest member-owned recovery cooperative company in the world has changed its name to National Finance Adjusters (NFA).  “The name change has been designed to embrace the history of the former trade association and pave the way for a new more substantial recovery cooperative.  Just as before, the goal of the cooperative is to secure business from national lenders and compete in the existing forwarding company space”, said Darren Frame, Executive Director of the new NFA cooperative.

 

New Name and New Goals

The new NFA will continue to embrace the directives of the existing cooperative, which is made up of independent agents and services national repossession clients without involving a for-profit forwarding company, but will also be adding growth to the organization.  “The cooperative model calls for a central corporate presence to do the marketing and administrative functions required in the forwarding model, but with the ownership and profits flowing through to the member companies and contracting agents” said Frame.

The existing cooperative has 35 member-owner recovery companies, all currently ARA members, from across the US, and is servicing a growing list of national clients.  “The newest goal of the cooperative is to dramatically increase the number of member companies which will allow us to demonstrate a more significant national coverage, while still maintaining very high standards of performance and compliance of those agents involved”, said Chris Dunleavy of TCAR Recovery, Burnt Hills, NY, and Chairman of the new NFA Board of Directors.  New agents coming onboard will have the same full ownership status as existing companies, and recovery assignments will be divided equally among members covering any particular area at the outset, while performance monitoring data is gathered on the new members to make future assignment decisions.

 

Special New Membership Incentive Period

To incent new members to join the cooperative, special financial terms were negotiated as part of the recent merger of the ARA and NFA trade associations and offered to existing association members.

“New applicants will be asked to accept the cooperative’s code of conduct, ethical standards, bylaws, and meet the written requirements designed to insure high standards of those with ownership in the organization” said Dunleavy.  After the special enrollment period, new members will be added based on required ARA membership, the service area need, and the current value of membership.

For more information or questions about membership details or benefits, send inquiries to

info@RellianceInc.com

 

National Finance Adjusters   |   8075 E. Morgan Trail, Suite 4, Scottsdale, AZ  85258   |   623-516-1018   |   WWW.NFA.ORG

Print Friendly

1 Response to "New Name and Expansion Plans for Recovery Cooperative"

Leave a Comment

You must be logged in to post a comment.

10 visitors online now
4 guests, 6 bots, 0 members
Max visitors today: 19 at 02:20 am UTC
This month: 138 at 08-04-2017 10:22 am UTC
This year: 138 at 08-04-2017 10:22 am UTC
All time: 307 at 07-02-2014 03:18 pm UTC
Skip to toolbar