Westerfield shares how he celebrates during Black History Month and year-round.
02/15/2023 1:50 P.M.
4.5 minute read
In recognition of Black History Month, ACA International is highlighting Black leaders’ voices in the accounts receivable management industry.
The U.S. has recognized Black History Month in February since 1976, when President Gerald R. Ford urged Americans to “seize the opportunity to honor the too-often neglected accomplishments of black Americans in every area of endeavor throughout our history,” according to blackhistorymonth.com.
Black workers have much higher rates of representation at collection agencies than they do in the general workforce, making up 24% of total bill collectors in 2020, according to research from ACA in partnership with Kaulkin Ginsberg.
Bill collectors work with consumers to recover overdue payments and make up roughly 73% of total collections industry employment.
In this member spotlight, Joe Westerfield, director of collections at Moneytree Inc., reflects that Black History Month is about celebrating the people of color who are making a difference in history today. Read his answers below.
Q. Why is Black History Month important to you?
A. Black History Month is a celebration for everyone. It is a time of reflection, a time to honor, and a time to learn about the accomplishments of some great people of color. I celebrate the cultural and political progress of our historical and current people of color. Like in years past, we have people of color succeeding today in literature, politics, art and business who we should be proud to celebrate. So even if you are not interested in history, you can celebrate local people of color who are making their mark in history every day.
Q. Who has served as an inspiration in your life?
A. My mother is my inspiration in life. Although my mom has had health issues, she worked hard to give me a fighting chance at life. My mother was a Black business owner who taught leadership classes to those in our underserved community. My mother used her business as a tool to give her family a good life and an opportunity to succeed at the next level. At an early age, my mother taught me the value of challenging work and that nothing is free in life. She taught me about religion and the importance of participation. My mother was the youth choir director and an evangelist. I am thankful for all that she has done and continues to do for me and my family. Being raised by my mother gave me an example of how to freely give and how to be open and willing to help others.
Q. What does it mean to you to be part of the ARM industry today?
A. As the famous Pittsburgh Steelers player Troy Polamalu said, “Never not working.” The collection industry is always changing; you must stay engaged and be willing to learn. This industry requires you to be on top of federal and state-specific laws and regulations. You must be aware of the latest technology that could aid in achieving your company’s goals. You must network because someone may need your services, or you may need theirs. I love this industry because it never gets boring or monotonous. I love that I can help others while at the same time stabilize lending. It feels good to be a part of an industry where you can come in as a collector on the floor and immediately make a difference—something I did over two decades ago.
Q. Do you have any suggestions for other companies working on educational and inclusiveness programs in the industry?
A. Diversify your team members and encourage them to be involved and empowered by the company. Creating a work environment that allows everyone to work together and values everyone’s contributions equally will have a better chance of being more productive and a happier place to work. Having diversity in your meeting rooms increases your ability to innovate. We all have opinions and ideas, and the more diverse the think tank is, the better the ideas you have. Companies that strive for inclusiveness have an increased ability to fill that open position because the talent pool is larger.
Q. How do you celebrate and honor Black History Month on a personal level and/or at your company?
A. I celebrate and honor Black history every day by being my best self. I try to walk through the doors that were opened for me by the historically colored people before me. Our staff at Moneytree is a diverse group of talented individuals who are dedicated to our core values of positivity, integrity, authenticity, teamwork and extraordinary service. There is no other place like it!
Q. Is there anything else you would like to add?
A. “We all should know that diversity makes for a rich tapestry, and we must understand that all the threads of the tapestry are equal in value no matter what their color.” – Maya Angelou
Do you know a member you would like to see featured in ACA Daily’s Member Spotlight or Collector magazine’s Origin Story? Would you like to share your story? We are also looking to highlight our international members and new members of ACA. Reach out to our communications team at [email protected] with your ideas. We’d love to hear from you!
If you have executive leadership updates or other member news to share with ACA, contact our communications department at [email protected]. View our publications page for more information and our news submission guidelines here.