Our Code of Ethics

Our Main Objectives

Who We Are

Our Philosophy

Our Mission

Our History

Who Can Be a Member/ Membership Application

Members Only Pages

2008 Convention Photos

The Georgia Industrial Loan Association is a trade association founded for the purpose of acquiring and accumulating information in such a manner as to create a better public understanding of such business and to develop higher standards, decorum and ethics in the conduct of lending money.

GILA has two classes of membership - Regular Member and Associate Member. Regular memberships are for those persons, firms or corporations engaged in extending money credit or arranging or guaranteeing the extension of money credit in the State of Georgia under licenses granted pursuant to the Georgia Industrial Loan Act. Associate memberships are for those persons, firms or corporations doing business or associated with any member of this Association.

The standing committees of the GILA are Budget & Audit; Constitution & By-Laws; Convention & Program; Education; Executive; Insurance; Legislative; Membership; Nominating; Planning; Public Relations and Bankruptcy.

Our Code of Ethics...

The members of the Georgia Industrial Loan Association believe that the interest of the public, of employees, of capital and management can best be served through the voluntary formation and observance of ethical standards and practices. In accordance with this conviction that the members of the Association subscribe to the following principles:

1. To maintain high standards of business deportment in all dealings with each other and the public;
2. To maintain good inter-company relations by conducting ourselves in the spirit and to the letter of the Constitution and By-Laws of this Association;
3. To explain clearly the actual cost, terms and conditions of all contracts made;
4. To use legal process sparingly in the enforcement of contract rights;
5. To transact business in such a manner as to merit the continued respect and confidence of customers and the public;
6. To acquaint the public with the importance of the finance business in the economic structure; to promote a better understanding with the public and our elected officials of the aims and practices of the lenders licensed under the Georgia Industrial Loan Act; and to oppose any illegal lending activities not expressly authorized by the laws of the State of Georgia;
7. To cooperate with all duly accredited members of this Association in the proper and ethical conduct of the finance business;
8. To assist our employees in obtaining a full knowledge of our business so that they may understandingly present it to the public and effectively participate in our public relations programs;
9. To endeavor to settle all competitive complaints with each other on an amicable basis;
10. To keep constantly before our members the value of our constitutional form of government and the freedom of individual opportunity which it protects.

Our Main Objectives...

The purpose of the Georgia Industrial Loan Association is to accumulate educational data pertaining to the Consumer Finance Industry, and to have input into State and Federal Legislation affecting our industry.

1. Create better public understanding of our business, and to keep our members and other interested friends fully informed at all times.
2. Develop higher standards and ethics in the conducts of such business.
3. Insure that our industry continues to thrive in a healthy environment.

Who We Are...

1. We are the organization you can count on to keep you in business. We are continually at work, representing the Consumer Finance Industry.
2. The object of the Association is to further the general welfare of the industry.
3. We have a political action committee, GILA - CONSUMER CREDIT PEOPLE FOR RESPONSIBLE GOVERNMENT, actively working to keep in office, friends who understand the need for the service that our industry provides for the citizens of Georgia.
4. United and strong, we are effective in working with the General Assembly in matters pertaining to Consumer Finance Legislation.
5. We endeavor to make sure we maintain a rate which allows us to serve the consumer while maintaining profitability
6. We provide a wealth of information through meetings, conferences, seminars, and publications that touch every phase of operations of the Consumer Finance business.

Our Philosophy

The Georgia Industrial Loan Association is the trade association for consumer finance companies who share the belief that it is ONLY by being UNITED and STRONG that we can make certain that the Consumer Finance Industry thrives while serving the needs of the public.

Our Mission...

GILA's mission is to promote the Consumer Finance Industry in a manner that maintains high standards of business ethics with consumers and competitors, thereby transacting business in such a manner as to merit the continued respect and confidence of customers and the public.

Our History...

The accomplishments of this Association are too numerous to mention, but far too important not to at least highlight.

The Georgia Industrial Loan Association began in 1951 when twelve individuals launched an effort to improve conditions for lenders in this state. Prior to that time, local officials were free to take any kind of legal action that was politically advantageous, to enforce vague state usury statutes. Many legitimate businessmen found themselves defending criminal and civil actions initiated by District Attorneys.

Through the efforts of GILA, a comprehensive Loan Law was drafted and passed by the Legislature in 1955. The Georgia Industrial Loan Act provided the protection and guidance necessary for long term investments needed to eliminate illegal "Hip-Pocket" operations forever.

In 1963 this Association, in concert with the Comptroller General, created a school for the training and education of loan personnel in the complexities of the Georgia Industrial Loan Act. GILA recognized then, as we do now, that the answer to most of our image problems was through the education of our people. That school, The Norman Kinsler Industrial Loan School, has already graduated over 10,000 qualified loan managers. The loan law regulations now require a diploma from our school, or one year of lending experience in Georgia, in order to be approved by the Commissioner as a qualified manager of a loan office in Georgia.

Early in the leadership of GILA embarked on a very aggressive program of improving the image of our industry. It was begun by conducting public meetings in every major city throughout Georgia . Newspaper editors, radio and television station executives and elected and appointed public officials were invited to attend these luncheons. An attractive brochure and fact sheet presented the positive side of our business to these opinion shapers.

The public was informed of the tremendous economic impact of our industry in the payment of various license fees and taxes to local and state governments. The members of our Board of Directors also informed them of the thousands of jobs and millions of dollars of income provided to employees of these loan companies throughout the state. Finally, it was explained that we provide a much needed source of loans to millions of fellow Georgians who have no other way of obtaining legitimate financing.

We are a creature of the Legislature and must maintain a strong presence in the political arena or we could be out of business.

Some years ago, GILA spear-headed a Regional Association, that was formed for the purpose of defeating eleven proposed rules for the Federal Trade Commission. These "supposed" consumer measures were ill-conceived and would have hurt the very consumers that were allegedly being helped. This ten year battle was over when the FTC finally reduced these unfair regulations from the original eleven to only four. Further, of the remaining four, only one had any adverse effort on our industry. This battle was waged on national level and the GILA led the way to victory in Washington, D.C.

Here at home, GILA has maintained a highly visible presence in the halls of the Capital in Atlanta. Whenever State or Federal Courts have issued adverse rulings concerning our operations, our Association has quickly addressed the problem with corrective legislation needed.

When national inflation caused the prime rate to soar, we went to the Legislature with measures to adjust our lending rate upward by successfully increasing our base interest rate and introduction of the Maintenance Fees. This allows us a margin that keeps us in business and allows us to serve the borrowing public of this great State of Georgia.

In 2001 the Georgia legislature passed, without a dissenting vote, an additional price of loan legislation which increased the margin for our companies who are currently beset by high operating costs and low margins. It still is a bargain for the individual consumer but is now more profitable for the loan operator. It was an unheard of precedent to pass both houses of the legislature by unanimous votes.

GILA began as a dream of twelve individuals over five decades ago. We now number over 800 licenses. We have a great Association that serves and protects the needs of its members. It has grown and prospered because of the support and contributions of its members.

Won't YOU give us the benefit of YOUR knowledge and experience? We look forward to that input.

Who Can Be a Member/Membership Application.

All persons, firms or corporations engaged in extending money credit or arranging or guaranteeing the extension of money credit in the State of Georgia under licenses granted pursuant to the Georgia Industrial Loan Act, if found to comply with the spirit of the organization, shall be eligible for regular membership in the Association, provided that any member engaged in business in more that one office within the State of Georgia shall declare each such operation and pay dues thereon. The Directors of the Association are authorized to admit as associate, non-voting members, any person, firm or corporation doing business or associated with any member of this Association.

Membership Application