Based on member feedback from the 2012 annual conference, the National Marine Bankers Association board of directors recommended the association change its name and members recently approved the name change at the association’s annual meeting.
“The new name, National Marine Lenders Association (NMLA), more accurately describes the entire U.S. marine lending community. We are very excited about the change as it better reflects our current marine lending member base,” said NMLA president Michael Bryant, “and should assist with expanding the NMLA to a broader group of lenders that provide credit to boaters, dealers, and manufacturers of recreational boats.”
NMLA was founded in 1979 as the National Marine Bankers Association. It is a dynamic group of marine industry leaders whose main goal is to educate current and prospective lenders in marine financing procedures. Marine financing today is widely available throughout the United States due to the efforts of the NMBA.
Marine lenders offer a variety of loans and loan products including retail origination, loan portfolio servicing and commercial inventory financing.
Membership in the NMLA includes financial institutions such as commercial banks, private financing firms, savings and loan companies, and credit unions. Lender members extend or originate credit to consumers, retailers/dealers and manufacturers of recreational boats and equipment. Associate members provide services to the marine lending community.