From colonial rule to millennial challenges

ON APRIL 19, 1932, a Tuesday, the Manila press reprinted an interview by Walter Robb in the Chicago Daily News with then Senate President Quezon. The interview quoted Quezon as outlining a plan that the Philippines might remain permanently within the sovereignty of the United States. We know now the plan did not materialize.

Since the Philippines was under colonial rule, foreigners dominated the business sector.

On the same day, April 19, 1932, a group of foreigners doing business in the country formed an organization to address problems particularly in the area of credit information exchange.

The original incorporators, F.N. Berry, W. J. Diehl, C. T. Stark, J. George, E.A. Schenkel, N.W. Watson and P.C. Hartnalnamed their group the Association of Credit Men, Inc.

Before World War II, the association counted 80 members, with A.P. Drakeford of Standard Oil Com-

The succeeding pre-war years saw more expats leading the association: W.J. Diehl of Associated Oil Company, 1933-1934; F. H. Ale of General Electric Appliance Corp. the following year; W. J. Diehl, re- elected and serving from 1935 to1940; and followed by D.S. Fitzgerald of Asiatic Petroleum Company, Inc.

As World War II broke out, the association had to suspend its operation.

After the war, on December 5, 1947, some surviving members decided to revive the association. They petitioned the Securities and Exchange Commission for the reconstitution of the association articles of incorporation and bylaws.

Jose Platon, an employee of the association before the war, handed to Fitzgerald a copy of the articles of incorporation and bylaws on January 8, 1948. Fitzgerald found out that the association was registered as a non-stock corporation on May 10, 1932

On February 7, 1948, the SEC approved the petition for reconstitution of the association articles of incorporation and bylaws.

Decade after decade, the association survived the challenges of the times. The members persevered through several crises—be it

the growing pains which all organizations must undergo.

In time, as the Philippines gained independence, Filipinos eventually took over from the

As Filipinos proved they are capable of self-governance, the new leaders of the credit association also squarely faced the demanding responsibility of the credit profession. Under the leadership of Jose

- ration, the association changed its name to Credit Management Association of the Philippines, Inc. or CMAP which moved on frommerely a byword to a wellrespected institution.

In 1981, under the presidency of Ariston Mitra of Philipps Electrical Lamps, Inc., CMAP bought a new

the Cattleya Condominium at235 Salcedo St., Legaspi Village, Makati City, its headquarters to this day.

On April 19, 1982, CMAP celebrated its golden anniversary Current CMAP President Luis Arriola is also the convenor and chairman of One Philippines, President of the Philippine-Vietnam Friendship Association, founder and president of the Earth Centre Philippine Nature Conservancy, past vice chairman of the International Ambassador’s Club Pasay City Chapter, chairman of Ole Manila and chairman of The Other Office Radio Program.

at the Philippine International Convention