Construction Financial Management Association (CFMA)

The Construction Financial Management Association (CFMA) is the preeminent professional organization dedicated to serving the unique needs of construction financial professionals and those service providers supporting the industry. Founded in 1981, CFMA boasts a membership that spans across the United States and Canada, representing all types of contractors – general, specialty, residential, and heavy/highway – as well as developers, construction managers, architects, engineers, and a wide array of service providers such as accounting firms, insurance companies, and surety providers.

CFMA’s core mission is to advance the knowledge and practice of financial management in the construction industry. It accomplishes this through a variety of avenues, including:

• Education and Training: CFMA offers a robust calendar of educational programs, webinars, and conferences. These events cover a wide range of topics relevant to construction finance, such as accounting standards, tax laws, risk management, project controls, and technology advancements. The Certified Construction Industry Financial Professional (CCIFP) certification, offered by CFMA’s Institute of Certified Construction Industry Financial Professionals (ICCIFP), is the gold standard for demonstrating expertise in construction financial management.
• Networking Opportunities: CFMA provides ample opportunities for members to connect with peers, industry leaders, and potential business partners. Through local chapters, national conferences, and online forums, members can build valuable relationships, share best practices, and stay abreast of industry trends.
• Advocacy: CFMA actively advocates for the construction industry on legislative and regulatory issues. It works to influence policy decisions that impact construction finance and operations, ensuring that the industry’s voice is heard by policymakers.
• Resources and Publications: CFMA offers a wealth of resources to its members, including research reports, industry surveys, and publications covering key issues in construction finance. These resources help members stay informed and make better business decisions.
• Community Involvement: Many CFMA chapters actively participate in community service projects, giving back to the communities they serve. This fosters a sense of social responsibility among members and strengthens the organization’s ties to the broader community.

CFMA membership benefits contractors of all sizes, from small, family-owned businesses to large, multinational corporations. It allows construction finance professionals to enhance their skills, expand their network, and stay at the forefront of industry developments. For service providers, CFMA provides a valuable platform to connect with potential clients and demonstrate their expertise in the construction industry.

In conclusion, the Construction Financial Management Association is a vital resource for anyone involved in the financial management of construction projects. It serves as a central hub for education, networking, advocacy, and resources, helping to advance the profession and ensure the continued success of the construction industry.