VINtek, a provider of electronic lien and title services, hassigned on the $550 million Deere Employees Credit Union.

The Moline, Ill.-based cooperative will implement the VINtekTIMEcollateral management system and move to ELT as part of its goal of improving efficiencies by reducingpaper usage, according to VINtek.

The transition to ELT replaces paper auto titles with anelectronic exchange of data between the credit union and thedepartment of motor vehicles.

With nearly one-third of the credit union's auto loan portfolio located in the state of Iowa, DeereEmployees CU has also partnered with VINtek as the pilotinstitution for Iowa's recently legislated ELT program, VINteksaid.

“We are trying to remove paper in every process we can,” saidChad Behnke, underwriting manager for Deere Employees CU.

“Through our move to ELT with VINtek, we are eliminating timeand cost-consuming paper-based processes, allowing our staff tospend less time on title processing and follow-up and more timeserving our valued members,” Behnke added.

Based in Philadelphia, VINtek provides automotive collateralmanagement services and direct auto finance services for banks,credit unions and other auto finance institutions.