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As we all know by now, Sharetec has many modules, services and features that help credit unions increase efficiency and income while putting member facing experiences first and foremost. At Sharetec we focus on constantly improving and providing new technology because we understand the needs of members change and in turn the needs of credit unions change and if your core is not evolving with you then is that really the best partnership moving forward? We get it, going through change and making your members experience change is difficult but it is important at times in order to improve for the future. The younger demographic and the future of your membership is demanding constant change and technology, your core should understand that.

One of the many modules the Sharetec system provides is the Ultimate Checking Module. Sharetec’s Ultimate Checking allows credit unions to boost their revenue with an increase in interchange income. Ultimate Checking is a unique product that differentiates credit unions from competitors and doubles revenue compared to a standard share draft account. Not only will this product attract new members but it is a feature that current members will embrace.

Gas & Electric Credit Union, Located in Rock Island, IL, took advantage of Sharetec’s powerful Ultimate Checking module. The credit union wanted to launch a successful high yield checking account to increase their revenue. The results from this implementation were astounding for Gas & Electric. Interchange income from debit transactions increased. There was a 7% growth in checking accounts as well as savings from eStatements and Online Banking. Not to mention, debit card revenue grew 27%!

CEO of Gas & Electric Credit Union states, “Our debit card revenue grew 19% our first year and over 27% our second year. We have enjoyed 7% growth in checking accounts directly tied to this service, which has led to more loans and other services.”

“There are many benefits to Ultimate Checking, the two areas that have seen the most return due to Sharetec’s Ultimate Checking for Gas & Electric CU, are an increase in debit card revenue and the additional new members. Every credit union can benefit from this product, it’s a must have,” comments Matt Isger, Regional Director for Sharetec System.