For the first time in four years, the Alberta Mortgage Brokers Association (AMBA) has raised its membership fees, though the association maintains they remain the lowest in the country.
“In order to stay transparent to our membership and committed to the association mission, the board of directors have made a decision to increase the 2012 membership fee slightly, for the first time in four years in order to continue to grow as an association and meet out mandates,” AMBA President Paul Bojakli told MortgageBrokerNews.ca. “We are very proud that AMBA’s membership still remains the lowest association fee across the country.”
The fee for individual members is now $115. IMBA and MBABC both currently charge individual members $150 per year.
In a message sent to members recently, the association pointed to slipping revenue from education, which resulted in a deficit for 2012. “Even with a deficit, AMBA continues to heavily invest in education,” stated Bojakli. “Education has been AMBA’s largest revenue source in the past, but still remains a priority. “We are looking to alternate resources to subsidize this revenue base.
“Our strategic direction and the work of our committees have generated new ideas and new focuses for future initiatives,” Bojakli said.
“In today’s non-profit community, if you aren’t creative and innovative you will fail. AMBA’s new initiatives will allow us to continue to thrive because we’re thinking differently and enduring the challenges,” added AMBA Executive Director Judy Martin.
According to Bojakli, the board has implemented an aggressive growth strategy that the staff fully supports and as a result, in an effort to keep the increase to a minimum, AMBA staff initiated a decrease in ancillary benefits. “The staff should be applauded for their efforts and support,” Bojakli said. “We have cut every corner we could without compromising services to the membership.” “If you read the association mission statement, it is clear how strongly we believe in AMBA’s mission.”