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hudson rivers 10th anniversary

We’d like to extend a big “Happy Anniversary” to our loyal friends at Hudson River Financial Federal Credit Union (HRFFCU) in Mohegan Lake, New York. This month marks the 10th anniversary of HRFFCU’s successful utilization of our Sharetec solution, and we couldn’t be happier for them!

First chartered in 1938, this not-for-profit financial institution serves over 6,000 members, with assets exceeding 50,000,000 dollars. HRFFCU believes that their growth stems from their dedicated efforts to maintain their founders’ original mission—to provide members with the best possible service, loans and technologically advanced accounts and money management services.

We commend HRFFCU for staying true to their mission and continuing to provide outstanding service to their membership. We appreciate the opportunity to serve this exceptional credit union and hope to support their success far into the future.

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As the popularity and demand for mobile remote deposit solutions continue to grow, it’s clear that Credit Unions and depositors prefer the ease and convenience of a safe and secure means of remotely depositing. Obviously, there are industry trends and needs to consider. For instance, according to GlobeNewswire.com*, “Checks remain a popular payment method for small businesses. In fact, many small business owners say they still prefer checks, given the costly and often confusing interchange fees associated with credit and debit cards. Thus, about two-thirds of all checks are written to businesses, and check deposits continue to be a major contributor to traffic” at banks and Credit Unions.

For reasons of ease and convenience, plus the fact that the small business market segment cannot be ignored, migrating deposit transactions to a less expensive mobile deposit solution has become a key objective for financial institutions across the country. And when one considers the benefits of Sharetec’s mobile Remote Deposit Capture (RDC), it’s no wonder that this solution is becoming increasingly popular with Credit Unions and members. Fully integrated with the Sharetec mobile banking application, as well as the Sharetec Core Processing system, RDC provides a Credit Union’s business clients and members with the freedom to deposit checks easily and securely, anytime from anywhere, using a Smartphone, PC, or tablet. RDC Users simply:

• Key in their deposit amount
• Capture images of both sides of their endorsed check
• Submit the information/images directly to their Credit Union for processing

In an increasingly complicated and mobile world, it’s comforting to know that Sharetec offers solutions that are in tune with industry trends and the most pressing needs of Credit Unions and their business clients and members.  

*https://globenewswire.com/news-release/2016/12/06/895488/0/en/Small-Business-Remote-Deposit-Capture-Remains-Key-to-Reducing-Branch-Costs-for-Banks-and-Credit-Unions.html

Increase Teller efficiency and reduce back office clerical time with Check 21 Teller & Branch Capture from Sharetec

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“Moving to electronic presentment to the Fed has decreased our proofing and processing time by 75%. We should have done this a long time ago.”

Electronic Check Capture With the financial industry moving to electronic clearing of check items, your credit union needs a cost-effective option to scan, store and transmit your daily deposits. Sharetec’s Check 21 solution increases check entry accuracy, reduces data entry time, and integrates fully with Sharetec.

Check 21 Teller Capture Checks deposited into member accounts are scanned in seconds. Simply place checks in the hopper, click the scan button, and the Check 21 system automatically:

  • Creates an electronic image of each check (front and back)

  • Records the amount of each check

  • Provides a deposit total

  • Adds scanned checks to your end of day electronic file

Any checks not properly scanned are displayed for the teller to review and correct. Once corrections are complete, the teller simply selects the account for deposit to complete the transaction.

Check 21 Branch Capture For credit unions that prefer single end of day batch processing, Sharetec provides Branch Capture. With this tool, tellers scan all checks received throughout the day in a single batch, then transmit the file directly to the Fed. Simply place all the deposit checks in the scanner hopper and click the scan button, and the Check 21 system automatically:

  • Creates an electronic image of each check (front and back)

  • Adds the check amount to processing totals

  • Sends deposit total to the teller

 


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Through ProPay, Sharetec offers credit unions an online portal that is secure, user-friendly and affordable. Allowing members to make loan payments using their credit card, debit card, or eCheck, gives the credit union an opportunity to increase revenue while improving member satisfaction.

  • Fast, online signup

  • Accept online payments with no additional cost to the credit union

  • Generate additional fee income

  • Members can make a one-time payment or schedule payments

Tyler, President of Laramie Plains FCU comments, "We process an average of 21 transactions each day on non-LaramiePlains FCU debit cards and credit cards. Before using ProPay with its tight integration to Sharetec, this was a manual process handled mainly by front-line staff over the phone. The time saved is now focused on building deeper relationships with members."

Providing members with payment options they demand will strengthen your member relationship both today and into the future. Contact us today for more information or click here to read more.

 

 

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