May 4, 2022
PRESS RELEASE – For Immediate Release
LINO LAKES, MN – Sharetec System, core technology made simple, announces EduCom Co-operative Credit Union (EduCom CU) in Jamaica has selected Sharetec to be their new core banking system.
The Board and Management of EduCom determined that in order to remain competitive in the financial industry, adapting to the changing needs of the membership was necessary. This will be accomplished by deploying new technologies such as digital transformation and implementing a new core banking system.
To achieve this, the credit union employed a procurement process which included initial shortlisting, evaluation of formal bids, structured multi-day demonstrations of each of the critical functional areas and checks with other current users. The selection of Sharetec at the end of the process meant they have the people and systems best suited for EduCom to meet its future needs, facilitate growth, and enable productivity and improved services.
In commenting on the credit union’s forward-thinking approach, CEO Elvis King said, “We at EduCom were looking for a solution which will enable us to meet the goals of deeper market penetration, growing product offerings, enhancing member experience, increasing wallet share and supporting robust member solutions selling by frontline staff and Business Development Officers. We look forward to Sharetec designing solutions to support us in achieving these goals.”
“We are honored to welcome the well-respected EduCom Co-operative Credit Union to the Sharetec family. As a leader in the financial sector in all of Jamaica, EduCom Credit Union already knows how to take care of their members, and now they will have the technology and automation to serve their members for many years to come,” comments Matt Isger, Regional Director for Sharetec.
EduCom Co-operative Credit Union is a member-centric, financially-sound and technologically-enhanced employer of choice; and is the top Credit Union in Jamaica in member value, compliance and satisfaction. The credit union serves 80,000 members with $11.2 billion in assets, 170 employees, and 9 offices.
Sharetec, the fastest-growing core provider in the Caribbean, delivers a return on investment (ROI), builds income streams and lowers operating expenses for over 280 credit unions. Since its establishment in 1993, Sharetec has grown steadily, welcoming over 50 new credit union clients in the past 3 years.
This information contained in this press release is accurate at the time of publication. However, specified information may change over time. Terms and Conditions