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What Credit Union wouldn’t choose to hold on to their funds a little longer?  With Sharetec’s Accounts Payable feature, you can do just that!  Accounts Payable is set up with your best interests in mind as it enables your staff to enter invoices received from vendors today, but delays the actual payment.  So you can arrange to have payments auto-expensed now and rest assured that your payment will be processed at a later time based on the due date.
 

Accounts Payable allows you to:

  • Keep your funds for as long as possible

  • Simplify vendor research and organization

  • Enjoy comprehensive AP functionality


Combined with Sharetec’s pre-paid component that auto-amortizes prepayments, the Accounts Payable feature amounts to comprehensive functionality—a complete expense and amortization system that your Credit Union can rely on and benefit from both now and later.

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Speaking from experience, if a member doesn’t finish an application for a loan or new account in one sitting, chances are that business won’t be realized. Credit Union professionals know this, and are searching for those end-to-end tools to turn incomplete apps into new business.


Online application abandonment rates are at an all-time high. Some credit unions are experiencing as much as 98 percent abandonment with members that weren’t able to complete the application in one sitting. On the other hand, according to a recent study, one credit union using Remote eSign technology was able turn 71 percent of unfinished apps into new business for the credit union.

Remote eSign is one of those tools that credit unions can use to remove friction points in the application process. With Sharetec’s tight core integration, credit unions can increase revenue by providing members more flexibility for signing applications. What’s more, members can complete and sign from any device. Learn more at Sharetec.com.

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Lennox Employees Credit Union in Marshalltown, Iowa, experienced a devastating tornado that caused damage to the credit union and the homes and businesses of Marshalltown residents. While the CU was closed during this unexpected disaster, they were able to serve their members remotely with the help of Sharetec Service Bureau.

Pat Anderson, Vice President of Accounting for Lennox ECU, comments, “We were lucky and did not have nearly as much damage as those around us, with many of our members in desperate need of access to their accounts. Sharetec contacted us right away and were awesome in getting the Sharetec icon on my laptop so I could process ACH and Share draft returns while assisting members during this frantic time.”

Many credit unions today are not prepared for a disaster. In this case study, Pat Anderson, Vice President of Accounting for Lennox ECU, offers insight on what credit unions need to do moving forward to help ensure they will make it through any disaster that may come their way. To read the full case study, click below.

What Lennox ECU Learned from 'Catastrophic' Tornado

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Many credit unions have already discovered the power, ease, quickness and convenience of Sharetec’s Results Report Writer. Its clever design can assist even the most novice users in developing custom reports, queries and labels quickly and easily.

If you are among those credit unions looking to extract your data from Sharetec to build custom reports or marketing pieces, you’ll find the Report Writer’s data extract feature extremely handy. This tool enables your data to be exported to any Open Database Connectivity (ODBC) compliant software—including Microsoft Word and Excel—so you can begin creating marketing collateral or building reports in an instant. The direct integration between the Sharetec core system and any ODBC compliant product simplifies your processes, enabling your staff to enjoy increased efficiency. What’s more, this feature can free up valuable time so employees can focus on other key tasks, such as improving member service.

With Sharetec’s Results Report Writer, your credit union will soon be on the path to enhanced process simplification, which can ultimately lead to increased growth and success! 

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When they find your Credit Union, are you making it easy to join?


Sharetec’s Online New Member Enrollment Application gathers member eligibility information then helps applicants choose the accounts/loans they may be interested in opening. This powerful tool also verifies all information prior to approval and allows applicants to fund their new accounts via ACH transaction.

Call (844) 802-4441 today to see how the Online New Member Enrollment Application can increase your Credit Union’s online visibility AND grow your membership with no additional work for your staff.