blog

Blog

SuccessSm

Is your credit union struggling to get more “modern?” Are you struggling to attract new members and automation due to your outdated core? Are simple tasks cumbersome? A true core partner is a system that will pay for itself over time while evolving as you do. Does that sound too good to be true? Maybe you should switch to the core that has been at the forefront of innovation and technology and a company dedicated and known for extraordinary support. Of course, we are talking about Sharetec. For the past 30 years, Sharetec has constantly improved and evolved with the ever-changing needs of credit unions and their members. Through bold technology and a truly caring partnership, Sharetec has helped credit unions across the globe grow and thrive.

One example is Evansville Fire Fighters FCU. This credit union was looking for ways to modernize and automate simple tasks. They wanted a core that would evolve and grow with them and a core that would pay for itself over time. Like any other institution, this CU wanted to grow membership and increase income. The decision to switch to Sharetec proved to be a good one as Sharetec’s automation allowed the CU to reduce staff by 12.5%. Sharetec’s courtesy pay allowed the CU to eliminate an expensive third-party vendor, increasing income by 26%. Evansville Fire Fighters FCU was able to save $54,000 per year which helped them pay for the new core.

“Our income went up by $17,000 once we canceled our contract with an outside vendor and started using Sharetec’s courtesy pay. This 26% increase has given us more opportunities to provide better services and support to our members,” comments Lori House, CEO of Evansville Fire Fighters FCU.

These benefits have helped the CU pay for the cost of converting to a new system that most credit unions fear. Lori continues, “This change has allowed us to reduce our staff by one employee, saving us over $37,000 per year. Upgrading to Sharetec was one of the best decisions we have made. Not only can we provide better support and service to our members, we continue to grow and improve productivity within the credit union every day.”

Matt Isger, Regional Director for Sharetec, comments, “Some credit unions have been on systems so long and are under false assumption that a cheap core system bill is doing them a favor. Where in fact, we have found that automation in today’s modern systems easily make up the difference and then some. New technology simply has ways to bring in more value and dollars to the credit union.”

If you would like to find out more about Sharetec, the modern core with an ROI, and how Sharetec’s features and automation can save you money and even possibly help cover the cost of conversion and the cost of owning the system over time, then do not hesitate to reach out to us today!

Farbod Salman, Director of Marketing, Sharetec

To read the full case study, click here.