More than 10,000 paper titles have been converted to computerfiles at the $389 million Valley First Credit Union in Modesto,Calif., since it began using an electronic lien and title servicesolution from VINtek.
The 53,000-member Valley First had begun implementing ELT in2006 but had only converted 10% of the titles it held before itrecently switched to the service from Philadelphia-based VINtek,the company and credit union said.
The new service has reduced paper use and automated day-to-day flow of title. Thecredit union said it made the move to manage converting theremaining paper portfolio and handle its ongoing ELT needs.
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