Close
Event date: 6/14/2017 4:30 PM - 6:30 PM Export event
Albert Frausto
/ Categories: Business

CB Merchant Services Celebrates 100th Anniversary

CB Merchant Services - formerly known as the Credit Bureau of Stockton - is celebrating their 100th Anniversary Wednesday, June 14, 2017 from 4:30 to 6:30pm.  CB Merchant Services is located at 217 North San Joaquin Street, Stockton.

In 1917, a group of innovative Stockton merchants purchased Mayor E.V. Burke’s credit bureau for $3,000. Over the years, CB Merchant Services (CBMS) has evolved to include collection, eviction and billing services, and is proud to continue operation as a merchant owned, mutual benefit, not for profit organization.

The oldest and largest not for profit collection agency in California, and possibly the United States, CB Merchant Services has had numerous leaders throughout its 100 years of service.

LEADERSHIP THROUGHOUT THE YEARS
Bert Lewis, aka "Mr. Credit" led the organization throughout the 1930's and 40's at which time switchboards and headsets were introduced. Guido A. Marengo Jr. assumed leadership in the late 1960's and computerized the credit files through their affiliation with CCBI/Equifax.  They also moved to San Joaquin Street, where the current offices are located.  Throughout the 1980's and 90's they continued to expand under the leadership of J.L. Schroeder.  Paul A. Perkins assumed leadership dramatically increasing enhanced technology.  Linda A. Guinn assumed leadership of the Bureau in 2002 and continues to build on her predecessor's vision.

The Bureau expanded its footprint by acquiring four established agencies and assimilating their business experience and key employees into the business.

  • 1981   San Joaquin Medical Society, Bureau of Medical Economic     Collection Div.
  • 1990   Credit Bureau of Manteca/Tracy    
  • 1998   Credit Bureau of Amador & Calaveras County (CBAC)
  • 2001   Credit Bureau of Stanislaus County, RCA Collections

CEO/President Linda Guinn commented “CBMS is truly honored to serve our clients and the community for over 10 decades.  While the business has evolved and changed over the years our guiding principle remains the same; to deliver ethical, effective services to our clients. We continue to hold ourselves to the highest standards when handling our clients’ accounts."

For event information, please call 209-944-9001


CB Merchant Services
100 Year History

The idea to provide the San Joaquin community with a better way to share credit payment experiences began on Valentine’s Day 1917, when a group of innovative Stockton merchants purchased Mayor E.V. Burke’s credit bureau for $3,000. Over the years, CB Merchant Services (CBMS), formerly known as the Credit Bureau of Stockton, has evolved to include collection, eviction and billing services, and is proud to continue operation as a merchant owned, mutual benefit, not for profit organization.

The Bureau, as it was originally called, was located in Downtown Stockton’s Smith and Lang Building, when member dues were $10 per month and a credit reports were $.25! After 10 years of building clientele and a presence in the community, the Bureau later expanded to include adjustment services (which was a fancy name for collection services) in 1928.

Throughout the 1930’s and 40’s, under the leadership of Bert Lewis, aka “Mr. Credit”, the Bureau grew to 12 full time employees, 250,000 active file cards, and was affiliated with more than 1,300 credit bureaus in the United States and Canada. By the late 1950’s, the Bureau had installed switchboards and provided headsets to staff making it one of the most well equipped credit bureaus of its kind on the West Coast.

In the late 1960’s, Guido A. Marengo Jr. assumed leadership and by 1975, the Bureau made public its intent to computerize the credit files through an affiliation with CBI/Equifax, the nation’s largest credit reporting agency.  This decision greatly contributed to the Bureau’s success as a leading provider of credit information and reinforced the decision to purchase a permanent home on San Joaquin St. in downtown Stockton, where the corporate office is still located today.

Throughout the late 1980’s and early 90’s, under the leadership of J. L. Schroeder, CBMS continued to be a vital force throughout California.  As consumer credit use expanded so did C B Merchant Services.

Over the years, the bureau further expanded its footprint by acquiring four established agencies and assimilating their key employees and business experience into the business;

  • 1981  San Joaquin Medical Society, Bureau of Medical Economic Collection Div.
  • 1990   Credit Bureau of Manteca/Tracy    
  • 1998   Credit Bureau of Amador & Calaveras County (CBAC)
  • 2001   Credit Bureau of Stanislaus County, RCA Collections

In 1997, Paul A. Perkins assumed leadership after serving on the board of directors for over 17 years.  Under Perkins’ leadership the bureau continued to embrace automation in order to expand client services and to improve the consumer’s experience as well.  During this time period, efficiency dramatically increased due to enhanced technology and use of the internet.  Credit reporting  became available via the internet which virtually eliminated the need for local credit bureaus.  As a result, in the year 2000, the credit reporting operations were consolidated to Equifax in Atlanta, GA, and the proceeds were dedicated for charitable purposes.  This led to the creation of the C B Merchant Services Charitable Fund, which has donated over $2.4 Million over the years to non-profit organizations throughout Central California.

In 2002, Linda A Guinn assumed leadership of the Bureau with over 25 years experience in the industry. While continuing to build on her predecessor’s vision, Guinn and her management team transitioned the Bureau into market leaders in the Accounts Receivable Debt Collection, Billing, and Eviction Service industries. This led to a corporate name change to what is now known as C B Merchant Services (CBMS).

In 2007, in recognition of its 90th anniversary, CBMS wanted to give something back to the community in a unique way that would impact the area for generations to come.  CBMS announced its intent to donate funds to create and incubate a Community Foundation for San Joaquin County.   The central purpose of a community foundation is to serve the needs and philanthropic aims of donors who wish to better their community, both now and in the future.

For over 100 years, CBMS has provided services that ultimately benefit both the consumers and creditors in the market place.  By treating customers with dignity and respect they help consumers find ways to resolve past due accounts that were otherwise classified as uncollectable. Effective collection services prevent,  or at the least minimize,  these losses from being passed on to others in the form of price/rate increases on the cost of goods and services.  CBMS is the oldest and largest not for profit collection agency in California, and possibly the United States.

CEO/President Linda Guinn commented “CBMS” is truly honored to serve our clients and the community for over 10 decades.  Guinn credits current and former employees and members of the board of directors for achieving this success.  It is with their experience, skills and knowledge that will keep our organization moving forward into the next century.    While the business has evolved and changed over the years our guiding principle remains the same; to deliver ethical, effective services to our clients. We continue to hold ourselves to the highest standards when handling our clients’ accounts and never take for granted the confidence our clients place in us when selecting a business partner."     As they look to the future, Guinn feels Winston Churchill said it best “The farther back you can look, the farther forward you are likely to see.”   CBMS is poised to achieve growth and prosperity for all clients into the next century.

As its board of directors, management, and employees celebrate their 100th anniversary, CBMS wants thank its loyal and dedicated clients and community members, many of whom are considered friends.

Print
792 Rate this article:
No rating
blog comments powered by Disqus

Name:
Email:
Subject:
Message:
x
Terms Of UsePrivacy StatementCopyright 2017 by Caravan News
Back To Top