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VGMFS Corporate Profile
Vision & Value Statement
TCF Equipment Finance
TCF Financial Corporation

VGMFS Corporate Profile

Leasing and equipment finance continue to be an important revenue source for TCF and consist of TCF Equipment Finance (TCFEF), VGM Financial Services (VGMFS) and Winthrop Resources Corporation. These companies, with their combined stable portfolio are the 15th largest bank-affiliated equipment finance company in the U.S. in asset size and provide the foundation of TCF's national lending businesses. Through their diversified marketing and sales strategy, they cover a broad range of the major equipment sectors for lease and loan financing primarily throughout the United States. During the fourth quarter of 2013, the total portfolio of the combined companies increased $148.8 million from the prior quarter end. Over the last 12 months, the combined companies grew the portfolio $225.5 million or 6.9%.

TCF Equipment Finance, headquartered in Minnetonka, Minnesota, was established in 1999 and provides financing solutions to companies through programs with vendors and manufacturers in a growing number of select market segments such as: Specialty Vehicles, Manufacturing, Medical, Construction and Technology. TCFEF is widely recognized as one of the premier equipment finance companies in the United States and has 48 sales and regional offices nationwide.

TCFEF tailors finance solutions for customers through established relationships with vendors in the Golf and Homecare markets through VGM Financial Services (VGMFS). VGMFS is a trade name of TCF Equipment Finance and is the sole endorsed provider of financing solutions for members of The VGM Group, the nation’s largest group purchasing organization in the homecare and golf markets. VGMFS designs finance solutions for equipment such as oxygen concentrators, ventilators, sleep labs, golf cars, turf equipment and select irrigation equipment. VGMFS was established in 1991 and was acquired by TCF Equipment Finance in 2004.

Winthrop Resources Corporation, established in 1982 and acquired by TCF Financial in 1997, focuses on providing customized, high technology lease financing to mid-size and larger companies across a wide array of industries including healthcare, higher education, professional services and retail. Acquiring Fidelity National Capital Inc. in 2009, Winthrop added Professional Services and a Bank Partner Program to its product offering. Today, beyond financing hardware, equipment, services and software, Winthrop’s knowledgeable and experienced teams also serve a growing client base with ancillary services including complete asset lifecycle management and leased equipment tracking through the web-based TRACtion tool. In 2010, Winthrop Resources earned the Equipment Leasing and Finance Association’s Operations and Technology Excellence Award for the development and implementation of a robust technical platform capable of handling over a million leased assets and several thousand customers. Since 2011, Winthrop has been annually recognized as HFMA (Healthcare Financial Management Association) Peer Reviewed - a designation held in the highest regard by hospital CFOs and is based on effectiveness, quality and usability, price, value, and customer and technical support.

Leasing and Equipment Finance Statistics:
($ in millions, quarterly data) 12/31/12 3/31/13 6/30/13 9/30/13 12/31/13
Total portfolio assets* $3,281 $3,268 $3,323 $3,358 $3,506
Originations $470 $365 $443 $398 $525
Uninstalled backlog $443 $476 $504 $462 $454
*Includes operating leases

Leasing and Equipment Finance Total Portfolio*

Total Portfolio Chart

Loan and Lease Originations and Purchases

Loan and Lease Originations Chart

*Rankings based on combined assets of TCF Equipment Finance and Winthrop Resources.


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