Union Acceptance Corporation Announces Web Site www.unionacceptance.com
4 April 2000
Union Acceptance Corporation Announces Web Site www.unionacceptance.com
INDIANAPOLIS--April 4, 2000--Union Acceptance Corporation ("UAC") today announced the launch of its web site, www.unionacceptance.com.Timothy I. Shaw, Chief Information Officer, stated, "Today we have taken a critical step in our continuous effort to provide timely and accurate information to investors. Our primary objective with this web site is to provide a centralized location to retrieve corporate information and statistics for our shareholders and asset-backed investors. We are very pleased with the initial deployment of our web site and look forward to future enhancements that cater even further to our dealership base and asset-backed investors."
The Union Acceptance Corporation web site contains selected financial information (in addition to balance sheets and income statements) including acquisition volume, servicing portfolio, operating expense, delinquency and credit loss data in easy to read charts. Specific pool information is also available for each securitization.
UAC is one of the nation's largest independent, indirect automobile finance companies. The Company's primary business is acquiring, securitizing and servicing prime retail installment sales contracts. These contracts are originated by dealerships affiliated with major domestic and foreign automobile manufacturers. The Company is focused on the upper-end of the credit quality spectrum. Union Acceptance Corporation commenced business in 1986 and currently acquires receivables from over 4,400 manufacturer-franchised dealerships in 35 states. By using state-of-the-art technology in a highly centralized underwriting and servicing environment, Union Acceptance Corporation enjoys one of the lowest cost operating structures in the independent prime automobile finance industry.