Why is Licensing So Important?
One of the most important things to look for is licensing and regulatory third parties. From New York to California, Family Credit Management is licensed or legally qualified to conduct business in every state we operate in.
Some states have few or no licensing requirements. People with no training or certification can set up a “debt management program” and basically steal your money. Always use a company, like Family Credit Management, that is legal, fully licensed, and regularly audited – that way you can be positive you will be taken care of.
In addition to these state licenses, we are proud to be ISO 9001 certified. This highly coveted distinction is granted only after we developed a complex client quality system in which all employees are thoroughly trained. This incorporates in-depth training of our staff, detailed department manuals, and complete adherence to the ISO standard including the consumer credit counseling code of practice.
- Alabama Securities Commission
- Arizona Department of Financial Institutions, Licensing Division1
- California Department of Corporations2
- Colorado Office of the Attorney General, Uniform Consumer Credit Code, Consumer Credit Unit
- Connecticut Department of Banking, Consumer Credit Division
- Georgia Governor's Office of Consumer Affairs3
- Idaho Department of Finance, Consumer Finance Bureau
- Illinois Department of Financial and Professional Regulation, Division of Financial Institutions,Consumer Credit Section 8
- Indiana Department of Financial Institutions7
- Iowa Division of Banking
- Kansas Office of the State Bank Commissioner, Consumer and Mortgage Lending Division
- Kentucky Office of the Attorney General, Consumer Protection Division
- Maine Department of Professional and Financial Regulation, Bureau of Consumer Credit Protection
- Maryland Department of Labor, Licensing and Regulation, Office of the Commissioner of Financial Regulation4
- Michigan Department of Insurance and Financial Services5
- Minnesota Department of Commerce, Division of Financial Examinations
- Mississippi Department of Banking and Consumer Finance
- Montana Department of Justice, Office of Consumer Protection
- Nebraska Secretary of State, Licensing Division
- Nevada Department of Business and Industry, Financial Institutions Division, Licensing Office
- New Jersey Department of Banking and Insurance, Licensing Services Bureau
- New York State Department of Financial Services, Licensed Financial Services, Banking Division
- Ohio Attorney General, Consumer Protection Division3
- Oregon Department of Consumer and Business Services, Division of Finance and Corporate Securities6
- Pennsylvania Department of Banking
- South Carolina Department of Consumer Affairs
- Tennessee Consumer Affairs Division
- Texas Office of the Consumer Credit Commissioner
- Utah Department of Commerce, Division of Consumer Protection
- Virginia State Corporation Commission, Bureau of Financial Institutions
- Wisconsin Department of Financial Institutions, Division of Banking - Licensed Financial Services
1 Family Credit Management Services is licensed by the Arizona Department of Financial Institutions. WE ARE NOT A LOAN COMPANY. We are a licensed debt management company.
2 As a non-profit Community Service Organization, FCMS is exempt from licensing. However, FCMS follows all applicable state statutes and completes filing requirements with state agency.
3 State has no licensing requirement. However FCMS follows all applicable state statutes and completes filing requirements with state agency.
4 As a licensee, the Commissioner of Financial Regulation for the State of Maryland will accept any questions or complaints from Maryland residents regarding Family Credit Management Service, license 14-35, at 500 N. Calvert St., Suite 402, Baltimore, MD. 21202-3651, phone 1-888-784-0136.
5Michigan consumers may view specific disclosures regarding debt management services here as required by the Michigan Department of Insurance and Financial Services; 611 W. Ottawa Street, 3rd Floor; Lansing, MI 48933; 517-373-0220. Family Credit Management Services is a licensed Debt Management Company in the state of Michigan (License #DM 0010576.)
6Oregon Department of Consumer and Business Services, Division of Finance and Corporate Securities: Oregon Registration # DM-80003
7Family Credit Management Services is licensed by the Indiana Department of Financial Institutions for Debt Management. We do not lend money.
8 Family Credit Management Services is licensed by the Illinois Department of Financial and Professional Regulation, Division of Financial Institutions,Consumer Credit Section. We do not lend money.
9 Family Credit Management Services is licensed by the Virginia State Corporation Commission as a nonprofit debt counseling agency (License No. DC-54).
An ISO external auditor visits our corporate offices every six months to ensure we continue to meet the ISO standard. More information can be found at www.iso.org or from our ISO register. We comply with standard BS EN ISO 9001:2000, our license number is FS 60378.
We employ a full-time Internal Auditor who constantly works to ensure all employees are following the ISO standard. The auditor makes certain any corporate changes are in adherence to the ISO standard. Client files are audited on a regular basis; letters and emails are spot audited, and employees undergo regular "desk audits" to ensure all work is completed in a timely manner. Before any employee can independently perform duties, including our debt counseling service and providing debt help, they must have signed a training checklist verifying they completely understand the job requirements.
Our client trust fund is reconciled every day and each year an external financial audit is conducted to be certain all of our trust accounts are balanced and properly accounted for.
We also employ a full-time Legal Compliance Coordinator, also certified as a credit counselor, who is responsible for ensuring our continued compliance with all regulatory filings, state licensing, training of employees on updates to or changes in state laws, as well as conducting internal audits of client files to ensure these state regulations are being met by all our employees.