Is NACM a trade association or a professional society, and whats the difference?
A trade association is composed of members who are companies. The members of a professional society are individual professionals. In its statement of purpose and bylaws NACM National is a trade association, but increasingly it acts as if it were a professional society. Its heavily focused on the individual personnel rather than on the member companies, whereas the Affiliates are heavily focused on providing non-profit credit services to the companies, including training for credit staff through education and professional development programs.
