Nebraska Credit Union League Names VINtek as Exclusive Service Partner
William Mills Agency
VINtek, a provider of automotive collateral management and direct auto finance solutions for banks, credit unions and other automotive lenders, today announced it has been selected as the exclusive service partner by the Nebraska Credit Union League (NCUL) to provide electronic lien and title (ELT) services to the league’s members.
After a thorough vetting process by the NCUL Business Services Committee, VINtek was selected as the NCUL’s exclusive ELT service partner due to its comprehensive understanding of ELT across the country and its 20-year history in the automotive industry. In addition, VINtek’s customers provided positive references in all service areas.
It was vital for the NCUL to select an ELT provider with a proven track record of customer satisfaction and a reliable, cost-effective solution as credit unions in Nebraska prepare for the Jan. 1, 2011 deadline mandating that all automotive lenders in the state move to the electronic title process. ELT is an environmentally friendly alternative to paper-based vehicle titles that enables credit unions to receive digital titles from their local DMV.
“Our Business Services Committee felt VINtek offered the best fit for Nebraska credit unions,” said Dan Collins, vice president of the NCUL. “VINtek’s solution keeps our credit unions in compliance with the ELT guidelines and mandates not only in Nebraska, but in the other 14 states offering ELT. Knowing that VINtek is operable in all ELT states, is active in the development of departments of motor vehicles’ programs, has extensive credit union experience and offers a low cost web-based application that requires no software installation, we are confident in their ability to assist our members with the transition to paperless titles.”
“As more states begin instituting both voluntary and mandated ELT programs, groups such as the NCUL help guide members through the transition by selecting VINtek as a service partner,” said Larry Highbloom, president of VINtek. “By mandating ELT, the Nebraska state government enables financial institutions in the state to see immediate ROI by alleviating storage and postage costs, as well as eliminating the expense of paper titles. We are pleased to be named as the exclusive ELT service partner by the Nebraska Credit Union League and look forward to assisting its members with the transition to a paperless automotive title environment.”
About Nebraska Credit Union League
The Nebraska Credit Union League is a not-for-profit, trade association that represents the interest of Nebraska’s state and federally chartered credit unions and their nearly 425,000 members. For more information, visit www.nebrcul.org.
Founded in 1990, Philadelphia-based VINtek provides automotive collateral management services and direct auto finance solutions for banks, credit unions and other auto finance institutions. VINtek helps lenders increase customer satisfaction and operating efficiency while simultaneously decreasing costs and errors associated with collateral management through the introduction of innovative consumer loan servicing technologies. VINtek holds two U.S. patents on automotive lien processes and is the recipient of numerous industry awards for its processing services. For more information, visit www.vintek.com.