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Flagship Credit Acceptance Named to “Best Workplaces in Texas” by Great Place To Work

COPPELL, TX – April 12, 2021 – Flagship Credit Acceptance LLC (“Flagship” or “the Company”), a leading auto-finance provider, announced that the Company has been named a 2021 “Best WorkplacesTM in Texas” for the Small and Medium Company category by nationally-recognized workplace certification company, Great Place to Work®.

To compile the 2021 list of Best Workplaces in Texas, Great Place to Work analyzed approximately 73,000 confidential employee surveys from employees of companies with locations in Texas. Respondents answered more than 60 survey questions to determine the extent to which their employers create a Great Place to Work For All™. Companies were then scored based on those employee responses, with 85% of the evaluation based on employee feedback regarding their experiences related to trust and ability to reach their full potential within their organization, and the remaining 15% of the scoring determined based on an assessment of all respondents’ daily experiences of workplace innovation, the respective company’s values, and other criteria. Great Place to Work selected 100 companies for its list of 2021 Best Workplaces in Texas and broke up that list into two categories – large companies and small and medium companies. Flagship is honored to be selected as one of the Best Workplaces in Texas in the Small and Medium Company category.

“The foundation of our corporate culture is the importance we place on ensuring we offer a diverse and inclusive environment that provides equality to all our associates throughout the organization. This acknowledgement affirms we have created a workplace where our associates feel appreciated and valued for their contributions to offer our customers exceptional service,” stated Bob Hurzeler, Chief Executive Officer at Flagship.

Flagship previously earned certification as a Great Place to Work in November 2020. The Company provides competitive salaries, bonus opportunities (where applicable), paid time off, volunteer time off, tuition reimbursement and many other innovative benefits to help associates enjoy active and healthy lifestyles at work and home.

To learn more about Flagship and current career opportunities, visit www.flagshipcredit.com.

Flagship Credit Acceptance November Food Drive Raises 4,440 Pounds of Food for Feeding America in Time for the Holidays

CHADDS FORD, PA – December 21, 2020 – The coronavirus has impacted almost every family in America and worldwide. While Flagship Credit Acceptance has been fortunate to keep the vast majority of associates working, many individuals and families have experienced unstable employment leading to increased food insecurity this year. The leadership team at Flagship Credit Acceptance recognized that the 2020 holiday season would be especially trying for many families. The company normally conducts a food drive in each of its offices during the holidays, but with almost all associates working remotely, local food collection efforts would be hampered.

To address this challenge and support the local food banks, the leadership team at Flagship Credit Acceptance launched a contest in November to support Feeding America. Remote workers could make a monetary contribution or donate food through contactless drop-off directly to their local Feeding America chapter.

“Giving back to the communities in which we work has always been a part of who we are as a company. This year, it was more important than ever that we not only continue, but increase our efforts,” stated Jeff Haymore, President and Chief Operations Officer of Flagship Credit Acceptance.

For the contest, every dollar donated was considered the equivalent of one pound of food. To further excite and engage the associates, the leadership team committed to donating $5,000 to the local chapter of Feeding America that received the highest donation, with this year’s donation going to the Chads Ford office’s local Feeding America chapter in Chester, PA.

As a result of the contest, Flagship Credit Acceptance’s office in Chadds Ford, PA, donated a combined total of 2,055 pounds of food consisting of financial donations and 600 pounds of food. The Tempe, AZ, location raised a combined total of 1,615 pounds of support and the Coppell, TX, office donated the financial equivalent of 770 pounds of food.

To learn more about Flagship Credit Acceptance, please visit www.flagshipcredit.com.

Flagship Credit Acceptance Expands Investment Partner Portfolio

CHADDS FORD, PA – December 17, 2020 – Flagship Credit Acceptance LLC (“Flagship” or “the Company”), a leading auto-finance provider, announced today a partnership with Pagaya, a financial technology company. This partnership will help Flagship to broaden its product offerings.

An important addition to the Flagship product is the loan-to-value (LTV) program, in addition to the traditional Flagship advance program. Flagship is encouraged by the early acceptance of the new program and expanded offering and looks forward to continued growth in the months to come.

“This type of partnership enables us to offer expanded financing products to our dealer network, and increases access to vehicle financing for consumers. The partnership with Pagaya will augment Flagship’s services, and provide greater value to both our business partners and customers,” stated Bob Hurzeler, Chief Executive Officer of Flagship Credit Acceptance.

Flagship Credit Acceptance Earns Great Place To Work Accolade

CHADDS FORD, PA – November 19, 2020 – Flagship Credit Acceptance LLC (“Flagship” or “the Company”), a leading auto-finance provider, announced today it has been certified as a Great Place to Work®. The Great Place to Work program acknowledges companies that have established a documented excellent workplace culture, and is based on anonymous associate responses to the Trust Index© survey.

A majority of Flagship’s 850 associates responded to the survey. Out of the responses, 89% of associates stated Flagship is a great place to work, compared to 59% of employees at other U.S.-based companies. Additionally, 92% of respondents said they felt welcomed when they joined the company. Importantly, 91% of associates responded they were provided with the resources and equipment to be successful, and 90% stated they were able to take time off when they felt it was necessary.

“Our belief is that a diverse and inclusive culture that is uplifting and supportive is the backbone to enabling our associates to perform at their best,” stated Bob Hurzeler, Chief Executive Officer at Flagship. “By creating a supportive culture that our associates want to be a part of, we ensure they provide first-class service to each of our customers.”

As part of Flagship’s corporate culture, the company provides associates with volunteer time off, supports local and national nonprofits and charities, and more recently has supported the Boys and Girls Club of Chester, Pennsylvania with a food drive to support families effected by the COVID-19 pandemic.

Great Place to Work is the global authority on workplace culture, employee experience and leadership behaviors. The organization helps businesses around the world survey employees, benchmark results and identify the best workplace cultures. Since 1998, Great Place To Work has been responsible for the Fortune 100 Best Companies to Work For® list.

Companies that have earned the Great Place To Work certification are eligible for evaluation in several Best Workplaces listings. Great Place To Work uses a For All Model and Methodology to evaluate businesses and top-performing companies are recognized as Best Workplaces.

Flagship Credit Acceptance Hires Rob Crowl as Chief Financial Officer

Flagship Credit Acceptance LLC (“Flagship” or “the Company”), a leading auto-finance provider, announced today the appointment of Rob Crowl, a seasoned senior-level executive with more than 34 years of financial experience spanning the banking and specialty finance industries, as Chief Financial Officer.

Crowl joins Flagship from PHH Corporation, one of the largest sub-servicers of residential mortgages in the United States and a wholly-owned subsidiary of Ocwen Financial Corporation. Most recently, Crowl held the title of president and chief executive officer, following more than five years of serving as the chief financial officer. As part of Flagship’s senior leadership team, Crowl will report directly to Bob Hurzeler, Chief Executive Officer at Flagship.

“We are excited to welcome Rob to our senior leadership team,” stated Hurzeler. “Rob’s extensive leadership and management experience will be instrumental in our future growth and will complement our performance-oriented culture.”

Prior to joining PHH, Crowl served as CFO of Sun National Bank, where he helped lead a successful recapitalization of the bank during the housing and banking crisis. Additionally, Crowl spent 12 years at National City Bank in Cleveland, Ohio, and served in a variety of leadership roles during his tenure, including COO of National City Mortgage, Corporate Comptroller, and Asset/Liability and Securitization Manager. He began his career with Crestar Bank in Richmond, Virginia, where he spent 12 years in several senior positions in the organization. Crowl holds a B.A. in Psychology and an M.B.A. from the University of Richmond.

Flagship Credit Acceptance Welcomes New CEO, Board Member

Flagship Credit Acceptance LLC (“Flagship” or “the Company”), a leading auto-finance provider, today announced that Bob Hurzeler is joining the Company as its Chief Executive Officer and as a member of its Board of Directors.

Hurzeler is in his third decade in automotive finance, having come directly from OneMain Financial where he served as Executive Vice President and Chief Operating Officer, managing the company’s sales and operations, and oversaw approximately 8,500 team members. Prior to that, Hurzeler served in a variety of roles at Wells Fargo Auto Finance, including Vice President and Regional Manager, Senior Vice President of Sales and Operations, and President. During his tenure at Wells Fargo, Hurzeler helped significantly expand its origination volume.

“It is truly an honor to join Flagship’s team,” said Hurzeler. “Flagship has grown with a strong trajectory creating a sustainable $2.9 billion serviced portfolio. This is a testament to the expertise and skill of everyone at the Company. I’m optimistic that conditions are right for Flagship to add to its history of growth and development. I look forward to helping lead us there.”

“Attracting top-tier talent like Bob is a testament to the quality of the company Michael Ritter and his team have built,” said Flagship Director Andrew Dym. “I am proud to welcome him and wish him the best in this pivotal role.”

“Everyone on Flagship’s Executive Team is delighted to welcome Bob to the Company,” said Jeffrey Haymore, Flagship President and Chief Operating Officer. “Apart from his experience, Bob’s motivation and energy is going to be an excellent fit for this period of growth at Flagship.”

Hurzeler began in his official capacity as Chief Executive Officer on June 3, 2019. Michael Ritter, who has served in that capacity since the Company’s founding in 1998, is staying with the Company as Chairman of the Board of Directors.

Flagship Collaborates with SMU Cox School of Business

Flagship Credit Acceptance LLC (“Flagship”), a leading auto-finance provider worked with students from the Cox School of Business at Southern Methodist University (SMU Cox) in Dallas to further the education of students pursuing Master of Science in Business Analytics (MSBA) degrees.

Flagship risk assessment team members, Senior Business Strategy Manager Tsungi Kajese and Business Strategy Analyst Taylor Shekels, worked with SMU Cox students to construct models using real-world, anonymized and non-identifiable loan application data. “To truly understand and model how the loan application process works in the real world, you need to work with real data — model data is too unrealistic,” said Hettie Tabor, director of the SMU Cox MSBA degree program. “We were delighted that Flagship was willing to work with us.”

Students in Tabor’s practicum course were provided non-identifiable descriptive vehicle loan application data that was manually-entered and full of errors. The project required students to call upon their data mining skills to clean, standardize, categorize and analyze the data to provide meaningful insights. “SMU Cox students provided real benefits to Flagship. We obtained some new techniques and tools to generate inferences around risk and new product improvements that will benefit Flagship’s customers,” said Shekels.

The course culminated with a final presentation at the Flagship offices where the students, accompanied by Tabor, were able to meet more members of the Risk team and present their findings. This year marked the second time the SMU Cox MSBA program and Flagship have partnered.

“I am very proud of both our internal risk team for showing the initiative and creating a relationship with the SMU Cox community, as well as for the hard work and passion that was shown by the students within the program,” said David Bertoncini, Flagship Executive Vice President and Chief Risk Officer. “Partnerships between educators and local businesses strengthen each, not to mention the communities they work in. We are extremely gratified by the outcomes this engagement produced again this year. We can’t wait to see what the students do next year.”

About SMU Cox

The SMU Cox School of Business, established in Dallas, Texas, in 1920, is committed to influencing the way the world conducts business via prolific research that provokes innovation, change and global thought leadership. Cox faculty members strive to connect ground-breaking research to the classroom as well as the marketplace. Consistently ranked among the world’s leading business schools, SMU Cox maintains an active global alumni network. SMU Cox is accredited by AACSB.

Flagship Credit Acceptance Improves Online Customer Portal

Flagship Credit Acceptance LLC (“Flagship” or “the Company”), a leading auto-finance provider, today announced the launch of its next generation online portal that will drive digital communications and allow customers to fully service their accounts on a new, mobile-ready format. In a continued push toward digital transformation, the Company partnered with DataOceans to offer the most comprehensive and intuitive experience in our industry. The portal will allow customers to quickly make payments, update contact details and choose from a variety of communication preferences including text, e-mail, and an option for Spanish communications. In addition, customers will be able to access statements, receive payoff quotes and view an easy-to-understand payment history.

“Customers expect to fully manage their accounts online and from their mobile devices,” said Michael C. Ritter, CEO of Flagship Credit Acceptance. “We are happy to have provided such robust information and capabilities within an extremely intuitive portal. Giving customers the choice of how to manage their accounts positively impacts both our customers’ control over their finances and our capacity to communicate effectively with our customers.”

Flagship leveraged DataOceans who used their highly configurable digital platform, as well as customer communication expertise, to quickly design and develop the customer website. “Each client’s customer base is unique, but there are strategies and design concepts that have proven to be highly effective across all industries. We listened to Flagship’s objectives and challenges and together we developed a comprehensive solution that gives them almost unlimited flexibility to communicate with their customers,” said Randy Beals, Chief Revenue Officer of DataOceans.

The Customer Account portal can be accessed at my.flagshipcredit.com

The Garage & Flagship Hold Free Community Spring Fling & $10,000 Raffle

When you walk into The Garage Community and Youth Center on most afternoons you will run into Jordan*. Jordan is in 7th grade but, due to a severe reading disability, reads only at a 1st grade level.

At The Garage, Jordan meets daily with a volunteer tutor who helps him step-by-step with his homework. He’s bonded with his Garage mentor. Stories like Jordan’s caught the eye of Flagship Executive Vice President and General Counsel Chris Keiser, who sought a long-term volunteer partnership for Flagship Credit Acceptance (Flagship). Flagship began offering volunteer time off (VTO) for its associates to work at The Garage’s functions in January 2016, which enabled its employees to get involved with The Garage’s annual holiday auction.

Flagship’s volunteers wanted to get more involved in this worthwhile cause, so to expand the partnership, Flagship will host a Spring Fling and Raffle including a $10,000 Grand Prize. Ticket holders also have a chance to win a second and third prize of $1,500 and $500. Proceeds from the raffle and event will go to The Garage. “Flagship is proud to give back to the communities we serve,” Keiser said. “We’re hoping that the community will enjoy this family-oriented event and come out and buy a raffle ticket in support of this great organization.”

The free family-friendly Spring Fling will take place on Sunday, May 20, from 12-4 pm, at beautiful Hartefeld National, 1 Hartefeld Drive in Avondale, PA, where the $10,000 winner will be chosen by one of the teens from The Garage. Individuals do not need to be present to win and can purchase tickets online at https://Go.RallyUp.com/Garage-Spring-Fling. Only 1,000 tickets will be sold, increasing participants’ odds of winning.

Tickets for food and games can be purchased at the door. Activities include vendors, food trucks, bouncy houses, games, putt-putt golf, face painting and more! “We are thrilled to be partnering with Flagship this year to give our students and our community a fun day through this corporate sponsorship,” said Kristin Proto, Executive Director of The Garage. “Our students rely on donations like Flagship’s to keep our space available to them year-round.”

*Jordan’s name has been changed to protect his privacy.

About The Garage

For the past 17 years, The Garage Community and Youth Center has been a key part of the community, providing resources and sense of belonging to area youth who are in need. Through tutoring, mentoring, computer lab access, recreation and special programs, some of our community’s most “at-risk” middle and high school students are finding the necessary support to reach their full potential.

Flagship Credit Acceptance Completes its Inaugural Triple-A Rated Asset-Backed Securitization

Flagship Credit Acceptance LLC (“Flagship” or “the Company”), a leading auto-finance provider, today announced that it has completed its sixteenth rated asset-backed securitization of the Company, Flagship Credit Auto Trust 2016-3 (“FCAT 2016-3” or the “Transaction”). The Company issued $440 million of Notes which closed on August 11, 2016 with a weighted average effective coupon on the notes of 2.93%. The Offered Notes consisted of five classes and were assigned ratings by Standard and Poor’s Financial Services LLC and Kroll Bond Rating Agency, Inc. from AAA/AAA (sf) to BB-/BB (sf) ratings, respectively. Deutsche Bank Securities, J.P. Morgan Securities and Wells Fargo Securities were book-runners for the transaction. Michael Ritter, Founder and Chief Executive Officer of Flagship Credit, said, “We are thrilled about our ability to obtain a triple-A from the agencies on this transaction. We strive to be the most respected independent auto finance company in the industry and obtaining that triple-A has been an integral part of the plan. Additionally, the Company was able to expand its investor base and increase its original offering size by 10% to $440 million due to strong investor demand. The capital markets continue to be important to the Company and we appreciate the loyalty that our securitization investors continued to demonstrate by investing in our third securitization of the year.”

Flagship currently employs approximately 858 professionals who focus on a customer service driven lending model. The Company provides financing to borrowers that do not typically have access to prime credit lending terms for the purchase of affordable, late-model vehicles and the refinancing of existing automotive financings. Flagship uniquely operates two origination channels, helping its network of approximately 9,700 auto dealerships meet the growing demand in the below prime market and secondly directly helping consumers, through CarFinance.com, who seek automotive financing online.

The Transaction has not been and will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release does not and will not constitute an offer to sell or the solicitation of an offer to buy the Transaction.

Flagship Credit Acceptance Completes $400 Million Asset-Backed Securitization

Flagship Credit Acceptance LLC (“Flagship” or “the Company”), a leading auto-finance provider, today announced that it has completed its fifteenth rated asset-backed securitization of the Company, Flagship Credit Auto Trust 2016-2 (“FCAT 2016-2” or “Transaction”). The Transaction issued $400 million of Notes which closed on May 5, 2016 with a weighted average effective coupon on the notes of approximately 4.38%. FCAT 2016-2 was able to upsize its original offering size of $350 million to $400 million due to strong investor demand. The Offered Notes consisted of four classes and were assigned ratings by Standard and Poor’s Financial Services LLC, Kroll Bond Rating Agency, Inc. and DBRS, Inc. from AA/AA/AAA (sf) to BB-/BB/BB(h) (sf) ratings, respectively. Wells Fargo Securities and Deutsche Bank Securities were joint book-runners for the transaction.

Michael Ritter, Founder and Chief Executive Officer of Flagship Credit, said, “In an increasingly unpredictable capital markets environment, we are incredibly pleased about the closing of our recent securitization, which was able to increase its original offering size by 14% due to strong investor demand while simultaneously achieving 0.42% reduced weighted average credit spread premium over the Company’s prior deal. Our ability to access the capital markets is important and necessary to achieving long-term growth and success in the auto finance industry and we are thrilled that our securitization investor base continues to believe in the Company with the successful execution of our second securitization of the year.”

Flagship currently employs approximately 845 professionals who focus on a customer service driven lending model. The Company provides financing to borrowers that do not typically have access to prime credit lending terms for the purchase of affordable, late-model vehicles and the refinancing of existing automotive financings. Flagship uniquely operates two origination channels, helping its auto dealership network of over 9,400 meet the growing demand in the below prime market and helping consumers, through CarFinance.com, who seek automotive financing online.

The Notes have not been and will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release does not and will not constitute an offer to sell or the solicitation of an offer to buy the Notes.

Flagship Credit Acceptance Marks a $4 Billion Securitization Milestone

Today the Company successfully completed its 14th term asset-backed securitization of $447 million of Notes with Flagship Credit Auto Trust 2016-1 (“FCAT 2016-1”). This brings total issuance to over $4 billion in Notes.

The Notes were assigned ratings by Standard & Poor’s Rating Services and Kroll Bond Rating Agency, Inc. with Barclays, Citigroup and Deutsche Bank Securities as joint book-runners for the transaction.

Currently, Flagship employs approximately 800 professionals, all focusing on a customer service-driven lending model. The Company provides financing to below-prime borrowers, allowing them to purchase or refinance affordable, late-model vehicles. The Company operates two origination channels: Helping the 8,700+ auto dealership network meet the demands of the growing below-prime market, and CarFinance.com, which helps consumers seek automotive financing online.

The Notes have not been and will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release does not and will not constitute an offer to sell or the solicitation of an offer to buy the Notes.

Flagship Credit Appoints John R. Schwab as Chief Financial Officer

Flagship Credit Acceptance LLC (“Flagship” or “the Company”), a leading non-prime independent automotive financing and servicing company is pleased to announce the appointment of financial industry veteran John R. Schwab as Chief Financial Officer for the organization.

Mr. Schwab brings extensive financial leadership experience in treasury and capital markets to Flagship. He joins the company from The J.G. Wentworth Company where he served as Executive Vice President and Chief Financial Officer.

“We are excited to work with John on Flagship’s continued growth,” said Michael Ritter, founder and Chief Executive Officer of Flagship Credit. “With extensive corporate finance, capital markets and treasury experience, he will further strengthen our finance organization. We expect that John will continue to build upon the success he established in his former roles,” said Ritter.

“I am very excited to join the Flagship team,” said John Schwab. “Flagship has defined itself as a leading independent automotive finance company and I look forward to contributing to the next phase of growth.”

Mr. Schwab was the Executive Vice President and Chief Financial Officer of The J.G. Wentworth Company™ (NYSE: JGW), a position he has held since 2013 where he was instrumental in the process of becoming a publicly traded company. Prior to joining in April 2013, he served in various capacities since 2004 for Expert Global Solutions, Inc. (formerly NCO Group, Inc., a publicly traded company through 2006) including Executive Vice President and Chief Financial Officer. Prior to his employment at Expert Global Solutions, Inc., Mr. Schwab was the Chief Financial Officer of RMH Teleservices, a publicly traded teleservices company and Inrange Technologies Corp. Mr. Schwab spent eleven years at Arthur Andersen, most recently as a Senior Manager, and was a certified public accountant. Mr. Schwab graduated from LaSalle University with a BS in Business Administration – Accounting.

Flagship Credit Acceptance Completes $450 Million Asset-Backed Securitization

Flagship Credit Acceptance LLC (“Flagship” or “the Company”), a leading auto-finance provider, today announced that it has completed its thirteenth rated asset-backed securitization of the Company and its predecessors, Flagship Credit Auto Trust 2015-3 (“FCAT 2015-3”). FCAT 2015-3 issued $450 million of Notes in a transaction that closed on November 5, 2015 with a weighted average effective coupon on the notes of approximately 3.66%. The Offered Notes consisted of four classes and were assigned ratings by Standard and Poor’s Financial Services LLC and Kroll Bond Rating Agency, Inc. from an AA/AA to a BB-/BB rating, respectively. Deutsche Bank Securities and Wells Fargo Securities were joint book-runners for the transaction.

Michael Ritter, Founder and Chief Executive Officer of Flagship Credit, said, “We are pleased about the closing of our recent securitization, which brings our total notes issued in 2015 to $1.45 billion. Our ability to access the capital markets is important and necessary to achieving long-term growth and success in the auto finance industry and we are happy with the execution and level of investor interest for the Company’s fourth securitization in 2015.”

Flagship currently employs approximately 800 professionals who focus on a customer service driven lending model. The Company provides financing to borrowers that do not typically have access to prime credit lending terms for the purchase of affordable, late-model vehicles and the refinancing of existing automotive financings. Flagship uniquely operates two origination channels, helping auto dealership network of over 8,700 meet the growing demand in the below prime market and helping consumers, through CarFinance.com, who seek automotive financing online.

The Notes have not been and will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release does not and will not constitute an offer to sell or the solicitation of an offer to buy the Notes.

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