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When one thinks about the major challenges and concerns that Credit Unions face today, protecting members from fraud most certainly comes to mind. That’s why Sharetec offers real-time fraud monitoring through its Fraud Alert system. This essential feature was created to work proactively, helping Credit Unions stay one step ahead of fraud while safeguarding their members.

Sharetec’s Fraud Alert system is always on the look-out, always searching for questionable, suspicious activity. And once a fraudulent situation is discovered―whether during a member transaction, search, batch posting, new member enrollment or application process―your Credit Union staff and your members will receive prompt notification. In the event of a change of address, suspicious activity is immediately reported, and a change of address notice is auto-generated and sent to the original mailing address to ensure that the change was initiated by the member.

Key features of Sharetec’s Fraud Alert:

• Fraud Alerts are based on a set of fraud conditions set up in the Fraud Alert control

• Alerts are Credit Union-defined and tailored to meet each institution’s level of need

• Fraud Alert Reports are available on a daily basis to report all fraudulent conditions

• Credit bureau integration provides extra security for members on active duty or those who have been identified as fraud suspects

• Fraud Alerts are linked to FinCen, OFAC and EFunds files to flag qualifying member records as needed

With Sharetec’s Fraud Alert system, you can rest assured that prompt notification will translate to security and peace of mind for your members. 

For a list of alert types, including Duplicate Data Alerts, Activity Alerts and Invalid Data Alerts, visit


LorMet Community Federal Credit Union of Amherst, Ohio, knew they wanted
to switch to a more advanced core processing system but they were also seeking a partner with a focus on service. As a growing financial institution with $185MM in assets and over 21,000 members, they were in need of a system that could solve their most pressing issues. LorMet’s future was restricted by an inefficient, paper-centric system that required separate vendors and platforms for basic needs they believed should be part of a core processing system. This predicament made research very difficult and increased costs.Slow support services, inadequate reporting for data and analytics, delays in loan and new membership application processing and lack of adequate staff training on the system added to their pain. The credit union knew that if it was to successfully uphold its mission—its commitment to excellence in products, services and membership engagement and satisfaction—a drastic change was required.

Since making the switch to Sharetec, LorMet has achieved several key
improvements, resulting from the core processor's enhanced automation and efficiency capabilities.

Emily Bopp, CFO, LorMet, remarks, “Having all of our functions on the core was a significant improvement. The integration with operations allowed for faster member service and resolution of issues. And reporting was significantly improved from standard reports that allow you to change the scope based on specific parameters to the ability to query the entire database with an easy-touse tool.”

To read more about LorMet Community FCU's success with Sharetec, click here or visit

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Use the same marketing engine that powers the Sharetec Cross Selling and Rewards programs to develop targeted email and direct mail campaigns promoting the right products to the right members at the right time.

Stop missing opportunities and increase ROI by marketing through your core with Sharetec Metrics Marketing.

Contact us today for more information.

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Lending operations are key source of income for credit unions. By utilizing Sharetec’s Automated Lending rules and officer limits, credit unions can begin to better manage incoming revenue and mitigate risk.

Filling out a loan application shouldn’t be a slow and complicated process. In this day and age of super-fast computing and automated processes filling out a loan should take 5 minutes. With Sharetec, this becomes a reality.

Ideal for establishing and streamlining lending guidelines, Automated Lending from Sharetec is a decision tool used in conjunction with Sharetec’s loan application. It automatically generates approval or denial of a loan based on up to eleven (11) pre-established and weighted criteria. As debt and income information is recorded, factors such as disposable income, debt ratios and loan-to-value percentages are automatically calculated for the applicant and co-applicant.

Credit unions can customized these rules by weighting the selected criteria based on what is most important to the institution. By doing so, Credit unions using Sharetec Automated Lending rules can remain sensitive to the financial needs of the members they serve.

Sharetec also puts control in the hands of credit union management when it comes to its employees. With officer limits, Sharetec allows management to control the types and amounts of loans that get approved. Credit unions using this tool can manage new loan officers more effectively, reducing costly lending errors.

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As we welcome September and prepare for fall, we must once again say goodbye to our summer vacations and special holidays that bring cause for celebration. Patriotic summer holidays, like our recent Labor Day celebration, make us proud to be American and thankful for the many freedoms that we enjoy.

In reflection of summertime holidays like Labor Day, we at Sharetec would like to recognize our patriotic commitment to you—our integration of the Patriot Act Requirements into the Sharetec core system.

The Patriot Act—“Patriot” standing for “Providing Appropriate Tools Required to Intercept and Obstruct Terrorism”—authorizes the U.S. Secretary of the Treasury to regulate financial transactions, particularly those relating to foreign individuals. Integrated for the knowledge and protection of Credit Unions, Sharetec’s unique protection feature scans your database at intervals, and whenever you open a new account. Such scanning can determine if any of your members’ names match those on the Office of Foreign Assets Control (OFAC) and the Financial Crimes Enforcement Network (FinCEN) lists. If such a match is discovered, it is promptly reported to you. 

Sharetec is proud to offer this feature and remains committed to upholding its service and allegiance for the protection of its Credit Unions.