Chartered Institute of Credit Management (formerly Institute of Credit Management)
The Institute of Credit Management (ICM) (now known as the Chartered Institute of Credit Management) is a United Kingdom-based professional body representing credit professionals. It was founded in 1939.[1]
The ICM is the largest professional credit management organisation in Europe and has some 8,700 members who hold appointments throughout industry and commerce and also in certain related activities such as:
- debt collections
- credit reporting
- credit insurance and
- insolvency practice.
The ICM is a company limited by guarantee and its goal is to raise the professional standards operating in credit management, and to increase awareness of its importance as a management tool.
The ICM has produced a series of guides called Managing Cashflow for the Department for Business, Innovation and Skills, in partnership with the UK’s leading business organisations.[2]
The Institute was granted a Royal Charter in January 2015, and is now known as the Chartered Institute of Credit Management.[3][4]
Aims
The ICM's role is to:
- Set professional standards
- Test and assesses those who wish to become ICM members
- Organise specialist education and training relevant to the needs of its members
- Provide an appropriate range of services to allow credit managers to keep up to date
- Consult with and make recommendations to the Government, European Commission, other professional bodies and trade associations.