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Being a member of ELFA is one of the best business decisions you can make. It puts you ahead of the competition in so many ways – you know more about the industry and its trends because of ELFA research studies; you know more about what is happening today and tomorrow because of the news and information ELFA brings you; you know more of the players through ELFA networking opportunities; and you have a more favorable business environment because of ELFA's advocacy efforts in your behalf. Want proof? Here are some highlights from 2009.

Federal Advocacy: In 2009 the ELFA took a leadership role on key priority federal government relations issues by creating and leading industry coalitions on taxation, energy, financial regulation and transportation policy including:

  • Renewable Energy Working Group on key tax issues relating to the financing of renewable energy projects following enactment of the American Recovery and Reinvestment Act of 2009 resulting in positive guidance for lease financing of renewable energy projects;
  • Financial Services Regulations Working Group resulting in the inclusion of commercial equipment leases and loans as an eligible asset class in the Term Asset Backed Securities Loan Facility Program (TALF);
  • LILO-SILO Working Group on the LILO/ SILO IRS Settlement Initiative and subsequent tax legislation involving 30 of the largest ELFA member companies;
  • The annual Capitol Connections program in Washington, D.C. bringing association leaders together with policymakers for a series of legislative meetings on Capitol Hill and regulatory meetings with Administration officials.

State Advocacy: Many state governments were facing revenue shortfalls and other challenges in 2009, resulting in numerous proposals for raising revenue and imposing additional controls at the expense of ELFA members. Our presence in state capitals defended your interests against these and other damaging proposals.

  • Wisconsin automatic renewal legislation intended to force renegotiation of all existing leases and circumstances where customers can use equipment without making payments has been significantly amended by ELFA and our advocacy continues on this proposal;
  • ELFA turned aside North Carolina legislation to ban all automatic renewals and amended Missouri legislation to exclude equipment lessors;
  • ELFA defeated South Dakota legislation that would double sales tax on equipment leases to close a state budget deficit, which was poised to become a model for other states searching for new revenue.

External Communications: ELFA works to ensure that the message of equipment finance and its impact on the economy is broadened and deepened with the financial and trade media, among policymakers and industry analysts, and allied trade organizations. Some 2009 successes include:

  • Extensive coverage by the print media, appearing in nearly three-hundred articles;
  • Several network television appearances by ELFA officials;
  • Significantly increased outreach to industry analysts by hosting in-person and teleconference briefings.

Business and Professional Development: Was risk an issue for you this year? What about changes in accounting rules? Equipment management? Finding funding sources? ELFA offered help on these critical issues and a lot more through a variety of learning and networking opportunities, including conferences, workshops, online programs, and the annual convention. Whatever your preferred delivery method, ELFA had something to offer, and it was always the newest and best information delivered by the top authorities. Highlights include:

Business Development
  • Access to industry-specific information for leasing and finance professionals at the Legal Forum and Lease and Finance Accountants Conference;
  • First ever Best Practices Roundtable for executives from independent finance companies;
  • Access to critical funding sources through Annual Funding Conference;
  • The Annual Convention, the industry's largest meeting, offered three full days of educational sessions and networking opportunities.
Professional Development
  • Delivered in-house custom education on the Principles of Leasing and Finance to member companies;
  • Improved member understanding of the pending changes to the Lease Accounting Standards from ELFA sponsored web seminar;
  • Provided an analysis of the market opportunities in solar energy through web seminar;
  • Saved members money and time by training new hires through Fundamentals of Leasing and Finance online course.

News You Can Use: ELFA updated and improved its member communications vehicles in 2009 to bring you the news and information you need in a changing business environment.

  • ELFA launched SmartBrief Ð a daily aggregation of the most important industry and economic news summarized and delivered to your desk by email;
  • We re-designed the ELT magazine to give a cleaner, more reader-friendly look, and expanded the content with more columns and timely feature articles;
  • We added RSS feeds and a "Share this" function to the website, and added the full ELT magazine to the site.

Industry Research: In 2009, the ELFA research team continued to provide valuable statistics and information on the industry. With all the changes taking place, the need for research and benchmarking statistics has become even more critical than previous years. ELFA members have a competitive advantage with this data:

  • Annual Surveys – ELFA continues to provide the most comprehensive statistics on the equipment finance industry (conducted for over 30 years);
  • Benchmarking Projects – ELFA provides specialized information on what matters most to its members, such as Collections Effectiveness, Tax Management, and End User Customer Service Benchmarking;
  • Monthly Leasing & Finance Index and the Beige Book - In 2009, ELFA expanded the MLFI to provide a quarterly review of the information and to breakout the information by organization type and added the quarterly Beige Book, which provides qualitative information on the different sectors that make up the equipment finance industry;

These are just a few examples of ELFA's value to members and the industry in 2009. Membership in ELFA is not an expense, it is an investment – one that paid off throughout the year as documented above, and one that will pay off in 2010, as well, as we continue to offer the kind of resources and representation you need to survive and prosper in the year to come.

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