PHILADELPHIA and TALLAHASSEE, Fla. (8/30/12)--LEVERAGE, the service corporation for the League of Southeastern Credit Unions (LSCU), has enlisted VINtek to be its exclusive electronic lien and title (ELT) partner.
LSCU is the state trade association for Alabama and Florida credit unions.
In March, the Florida legislature passed legislation requiring automotive lenders in the state to use the Florida Department of Highway Safety and Motor Vehicles' (DHSMV) paperless ELT process by Jan. 1.
LEVERAGE chose to partner with VINtek based on the company's strong presence in the credit union market and partnerships with other leagues, the company said.
ELT is an environmentally friendly alternative to paper-based vehicle titles and enables credit unions to receive digital titles from state DHSMV offices. ELT increases efficiency by saving time and reducing risks of fraud and error, said VINtek.