MBABC and CAAMP are billing a joint membership program bundling their respective dues as both a time and cost savings for the 70 per cent of B.C. members they share.
“We share with CAAMP a significant number of joint members, and the joint membership billing initiative improves satisfaction, efficiency and value for members of both associations,” Tamera Olsen, executive director of the Mortgage Brokers Association of British Columbia, told MortgageBrokerNews.ca. “While uniquely different, the associations are unified in our values, including the AMP designation.
"This initiative simplifies the annual dues invoicing for all member compliant companies with joint members, and enables them to pay just once for membership.”
That one-stop payment method also nets those joint members a $50 discount on their dual annual dues.
While the membership discount applies only to those who are members of both associations, there is no requirement that brokers must now be members of both.
The program draws the provincial player closer to its national counterpart in other ways.
“The partnership also includes MBABC endorsing and promoting the AMP designation to its members in addition to having a board representative from each association presiding on the board of the other for a one year term,” reads a statement put out Monday under the names of both associations.
The announcement is the first of its kind for a Canadian industry where many brokers maintain membership in just one association, arguing whether provincial or national, each effectively performs the same functions around networking, professional development and advocacy.
Neither AMBA nor IMBA have signed agreements moving them closer to CAAMP.
“We haven’t had any discussion,” Joe Rosati, IMBA’s executive director, told MortgageBrokerNews.ca “If we were to, it would have to go beyond bundled pricing to clearly defined objectives on what our distinct roles are, to collectively better serve the industry.”
Olsen is suggesting that kind of division of labour already exists between CAAMP and her MBABC.
“The MBABC operates at the local or provincial level and relies on CAAMP’s national presence for issues crossing our country,” she said. “We work collectively to cover the issues regionally and nationally so that mortgage brokers are represented with their local ministry as well as in Ottawa.
“MBABC and CAAMP recognize the need for provincial and national representation. Our educational offerings complement each other.”