PHILADELPHIA — VINtek recently highlighted Valley First Credit Union selected the company as its technology provider to better manage members' vehicle titles.

Valley First Credit Union is based in Modesto, Calif., and serves nearly 53,000 members through eight locations in California. In 2006, officials recapped the credit union first implemented ELT to reduce the amount of paper involved in its vehicle lending process.

At the time, the credit union indicated only 10 percent of the existing paper-based auto loan portfolio was converted to electronic titles. Valley First said it was seeking an ELT provider that could manage converting the remaining paper portfolio to electronic titles and would also be a hands-on partner for its ongoing ELT needs.

Officials emphasized Valley First switched to VINtek's ELT service based on its reputation as an advocate for electronic vehicle titles, as well as references from other credit unions.

VINtek indicated that it successfully converted more than 10,000 paper titles to active ELT records, significantly reducing the use of paper in the Valley First title department.

The company also stressed ELT automates the day-to-day flow of title data, which can enable staff to focus on exceptions sooner and provide a better member experience.

"We made the change to VINtek as our ELT provider because they made the process easier," stated Paul Emanuels, vice president of lending at Valley First Credit Union.

"With ELT, we have no paper title to receive and store and when our member satisfies the underlying loan, the DMV sends a clean title to the borrower," Emanuels continued.

"Our ability to electronically track titles has helped us increase efficiency and dedicate more time to serving our members and less time dealing with the paper title chase," he added.

VINtek president Larry Highbloom declared, "Implementing an ELT program is the first part of a journey to eliminate dependence on paper.

"To realize the full benefits of removing paper from the credit union, it is just as important to convert the existing paper portfolio to ELT as it is to receive electronic titles on new loans," Highbloom noted.

"ELT helps institutions such as Valley First Credit Union better utilize their resources. VINtek is proud to be working with Valley First and we look forward to identifying additional efficiency opportunities to benefit the organization and its members," he concluded.