PHILADELPHIA — VINtek, a provider of collateral management
services, electronic lien and title (ELT) services and direct finance
processing for automotive lenders, has been selected by Deere Employees Credit
Union as its provider of automotive collateral management services, including
ELT.   

The company highlighted that Moline, Ill.-based Deere
Employees Credit Union, with more than $550 million in assets, serves employees
of Deere & Co. and their families from John Deere locations across the
country.

Officials indicated the credit union chose to implement the
VINtekTIME collateral management system and move to ELT as part of its goal of
improving efficiencies by reducing paper usage.

The transition to ELT, which replaces paper auto titles with
an electronic exchange of data between the credit union and the department of
motor vehicles (DMV), can allow Deere Employees Credit Union to improve member
satisfaction during lien release and cut costs from both paper storage and
postage associated with mailing paper titles.       

Deere Employees Credit Union selected VINtek due to the
company's comprehensive approach to electronic title outsourcing, including
title related call support and delinquent follow up letters, according to
officials.

With nearly one-third of the credit union's auto loan
portfolio located in the state of Iowa, Deere Employees Credit Union has also
partnered with VINtek as the pilot institution for Iowa's recently legislated
ELT program.  

"With VINtek's responsiveness and support, we feel very
confident in our member-facing title management services," said Chad Behnke,
underwriting manager for Deere Employees Credit Union.

"We are trying to remove paper in every process we can,"
Behnke continued. "Through our move to ELT with VINtek, we are eliminating time
and cost-consuming paper-based processes, allowing our staff to spend less time
on title processing and follow-up and more time serving our valued members."           

VINtek president Larry Highbloom added, "VINtek's complete
range of electronic collateral management solutions are ideal for helping Deere
Employees Credit Union reach its goal of reducing paper in its branches.

"The credit union is a leader in the transition to a more
efficient and cost effective way of lien and title processing, and we are
pleased to welcome them into the VINtek family," Highbloom went on to say.


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