Direct Capital Receives 2010 Operations & Technology Award

WASHINGTON, DC. (June 23, 2010) - The Equipment Leasing and Finance Association (ELFA) announces that its 2010 Operations & Technology Excellence (O&TE) Award will go to Winthrop Resources Corporation, a wholly-owned subsidiary of TCF Financial Corporation, for its project developed with Odessa Technologies, Inc. Direct Capital Corporation is being recognized for honorable mention for its ClickFund project developed with eOriginal, Inc. The winners were selected by the O&TE Award subcommittee and will be showcased during ELFA’s 49th Annual Convention, October 25-26 in Boca Raton, FL.

“Winthrop Resources Corporation and Direct Capital, a division of CIT Bank, N.A. have demonstrated outstanding achievement in solution development and implementation best practices,” said Deborah Reuben, Product Manager, HCL Technologies and O&TE Award Sub-committee Chair. “Their accomplishments are wonderful examples of the technical expertise and initiative that has come to define the equipment finance industry, and well deserving of this award recognition.”

Winthrop Resources Corporation will receive the O&TE Award for its development of a new, robust technical platform, capable of handling well over a million leased assets and several thousand customers. The fully-integrated system covers all processes and functionality normally associated with lease management, including adherence to generally accepted accounting principles, the application of financial and business process controls and adequate tax/compliance support.

Direct Capital, a division of CIT Bank, N.A. will receive an honorable mention for its development of a transformative business process which reduces customers’ financing transaction time and increases efficiency in sending and receiving customers’ financial documentation.

The O&TE Award Program identifies and recognizes equipment leasing and finance companies that have demonstrated best practices in developing and implementing innovative uses of technology or creative business processes to improve operations, enhance customer interactions, enter new markets and build overall ROI. The program brings the backroom to the foreground spotlighting the best in the industry as an example for others.

About the ELFA

The Equipment Leasing and Finance Association (ELFA) is the trade association that represents companies in the $518 billion equipment finance sector, which includes financial services companies and manufacturers engaged in financing capital goods. ELFA members are the driving force behind the growth in the commercial equipment finance market and contribute to capital formation in the U.S. and abroad. Its over 600 members include independent and captive leasing and finance companies, banks, financial services corporations, broker/packagers and investment banks, as well as manufacturers and service providers. For more information, please visit ELFA is the premier source for statistics and analyses concerning the equipment finance sector.

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About Direct Capital

Established in 1993, Direct Capital is the 8th largest independent equipment leasing and finance company in the United States, according to Monitor. The company provides specialty finance solutions, including capital equipment leasing, and commercial loans and is a member of several leading franchise associations.