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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.