Financial Management Association International National Honor Society
The Financial Management Association International-National Honor Society (FMA-NHS) is an international organization that was founded in the mid-1960’s. Originally, the purpose of the organization was to bring together domestic finance professors and practitioners to share research and ideas. As the FMA grew in importance and size finance students were invited to participate in convention activities and to join student chapters founded at recognized universities. In the 1970’s the FMA established rules for student chapters to offer top students membership in the NHS. In 1996 the FMA expanded internationally. Each year a convention in held in the United States and in a selected foreign country. Expanded emphasis has been placed on international studies and issues. The FMA publishes several journals including Financial Management, the Journal of Financial Practice and Education, and Financial Collection.
FMA is head quartered in Tampa Florida at the University of South Florida. Students receive a subscription to several FMA publications as well as a copy of Careers in Finance. The cost of membership is $45 per year. NHS members receive a certificate and a pin in addition to the other benefits. The rules for membership in the NHS are as follows:
Undergraduate students must have an overall grade point average (GPA) of 3.25 as well as a 3.25 GPA in six hours of finance related course work. The same requirements apply to graduate students except a 3.50 GPA is required.
The University of Missouri-St. Louis (UM-St. Louis) established a chapter of the FMA-NHS in 1988 and has been under the guidance of Dr. D’Anne Hancock, Associate Professor of Finance. Twice each year Dr. Hancock invites members from the business community, alumni and professors to network with the honor students. At the November and April networking parties, students are presented with their certificate and pin. No other regular activities are scheduled. A list of allowable finance courses is below:
ACCTNG
2400 - Fundamentals of Financial Accounting
FINANCE
3500 - Financial Management
FINANCE
3525 - Practicum in Investments
FINANCE
3561 - Principles of Insurance
FINANCE
3520 - Investments
FINANCE
3521 - Risk Management
FINANCE
3502 - Treasury Management
FINANCE
3542 - Principles of Real Estate
FINANCE
3501 - Financial Policies
FINANCE
3503 - Computers in Finance
FINANCE
3540 - Financial Services Industry and Instruments
FINANCE
3541 - Commercial Bank Management
FINANCE
3580 - International Finance
FINANCE
3598 - Topics in Finance
FINANCE
6580 - International Finance, Investment, and Commercial Relations
ACCTNG
5400 - Financial and Managerial Accounting
FINANCE
6500 - Financial Management
FINANCE
6501 - Advanced Financial Management
FINANCE
6520 - Security Analysis
FINANCE
6540 - Capital Markets and Financial Institutions
FINANCE
6521 - Introduction to Derivatives
FINANCE
6541 - Commercial Bank Management
Additional information can be obtained about the FMA or NHS by contacting the faculty advisor at dhancock@umsl.edu or by contacting the national office at fma@bsn01.bsn.usf.edu or www.fma.org.
In 1999, Dr. Hancock established the UM-St. Louis Finance Honor Society (FHS). The admittance requirements are exactly the same as for the FMA-NHS. There are two differences between the two groups: (1) the FHS is cost free and the (2) FHS is local not national. Naturally, the publications offered by the FMA are not available to students in the FHS. Membership in the FMA-NHS automatically includes membership in the FHS but the reverse is NOT the case. That is, membership in the FHS does not include membership in the FMA-NHS. The purpose for the addition of the FHS is to provide students with a no-cost alternative to the FMA-NHS.