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DealerTracks network to connect dealers lenders

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LAKE SUCCESS, N.Y. (3/26/08)--DealerTrack Holdings, a provider of software and data solutions for the automotive retail industry, launched DealerTrack Independent Network, which connects independent dealers and financing sources. The platform includes risk-mitigation capabilities that allow dealers to provide financing options to their customers. It also will including ongoing dealer monitoring, vehicle title processing and title insurance. DealerTrack also has allied with VINtek, a provider of automotive collateral management services for credit unions, and Vehicle Title Agency. More than 90% of U.S.-based franchised dealerships and several thousand of the largest independent auto leaders are active DealerTrack users connected with multiple lenders. However, an estimated 42,800 independent dealers have some level of difficulty developing relationships with financing sources, DealerTrack said. “The inability of many independent dealerships to offer financial options to their customers limits their potential revenue opportunities and puts them at risk for losing deals,” said Richard McLeer, DealerTrack senior vice president of strategy and development.

Covera offers Pennies for Change program

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LATHAM, N.Y. (3/26/08)--Covera Card Solutions is presenting credit unions the opportunity to offer United Way’s Pennies for Change program to their members. Through this program, members of participating credit unions in New York, New Jersey and Connecticut can opt to donate one penny every time they use their credit or debit cards to make a purchase. The pennies are then donated to United Way to support programs in their credit union’s respective communities. United Way’s Pennies for Change initiative involves no participation or sign-up fees for the partnering credit union or credit union member. The program is easy to implement for participating credit unions because no individual donor information of any kind is required by United Way. All partnering financial institutions will receive marketing templates from United Way to promote the program to their members. A partnering institution also will be listed on United Way’s website as a participant.