blog

Blog

MaineFamily

Sharetec proves that it is dedicated to being a solution based platform for our customers. Our main focus is to provide a software that is not only scalable but also customizable to fit the needs of any credit union. We noticed a pattern with many cores in the past providing the same software year after year without significant updates. Those cores are no longer around due to the inability to customize and evolve. Sharetec is built on the standard of constant evolution. A true web based core application, Sharetec is one of the fastest growing cores welcoming 50 credit unions in the last 3 years.

Credit Unions should rely on their core processing partner to provide solutions when a problem arises. This was the case for Maine Family Federal Credit Union. Located in Lewiston, Maine, Maine Family FCU wanted to improve their manual batch check processing. With two locations, the scanning of over-the-counter items was taking way too long to complete at the teller level. The credit union wanted to eliminate the batch check process and streamline member services at the teller line.

Turning to Sharetec for a solution, we were able to integrate Teller Capture as an ideal solution that both automated the check scanning process and reduced the check input time at the teller line.

“The two major goals were to improve speed and accuracy with our check deposits,” stated Christine Clabby, COO at Maine Family FCU. “Our Teller Capture scanners are 99% accurate when picking up the information on the check. The old way involved one scanning machine, requiring an employee to add up the checks manually and scan them into a batch file, this was a very time consuming process, typically taking a manager away for 1-2 hours a day. Now, this is all taken care of at the teller line, allowing the manager to focus on more important tasks.”

By working closely with Sharetec’s installation team, the credit union deployed fifteen scanners between the main office and the branch location. Sharetec’s installation team automated the delivery of the X937 files to the items processor. This freed the credit union’s staff from the tedious and time consuming task of manually scanning the day’s checks.

“Sharetec Teller Capture is really doing the work for us,” continued Mrs. Clabby. “The tellers are taking care of the checks, providing us with more accuracy and better operational efficiency. It’s really working great.”

“Sharetec will always be on the cutting edge of credit union technology.” Says Paul Stevens, CTO of Sharetec. “Providing solutions to help our credit unions better serve their members is a top priority for us and we will continue to broaden our suite of technology solutions to help them stay ahead of the curve.”

To Read Fully Case Study, Click Here

Allied Logo19

Most financial institutions offer some sort of online bill pay system but often times those systems are outdated, not user friendly and do not have the functionality that is desired or required by members, especially younger members that are mobile first.


Sharetec, with its strategic partnership with Allied Payment Network, offers next level bill pay with increased functionality and cutting edge technology. This technology includes Allied’s PicturePay technology, which gives members that ability to pay bills and set up payees from their mobile phone by simply taking a photo of their bill. Allied’s P2P solution provides real-time P2P transaction speed, allowing recipients to accept payments through standard ACH or in real time to their debit cards.

Credit Union members appreciate the ease of using bill pay and P2P transactions, while the adaptability to mobile offers them access wherever they are. This accessibility puts credit unions in great position to be the full-service financial provider that many members seek, as it did for Members First Credit Union in Madison, WI.

Jenny Kutz, Vice President of Operations for Members First Credit Union, comments, “After seeing Allied Payment Network at Sharetec’s Users Conference, we knew we wanted to utilize its technology for our many members whose primary relationship with the credit union is auto and HELOC loans. We thought PicturePay would be a great way to help push checking accounts to these individuals.” Jenny continues, “Implementing both of Allied’s services grew the number of members who use bill pay by 25% and, in turn, these members increased usage on their checking accounts. Additionally, transactions initiated through PicturePay and P2P have increased approximately 50% compared to our previous bill pay provider.”

Carrie Heck, Account Relationship Manager for Sharetec, comments, "Providing our clients more options when offering their members online  bill payment services helps our credit unions increase their online  banking interaction while keeping their members happy. Members are constantly looking for the latest tools to meet their financial needs and providing Allied’s convenient and easy-to-use payment solutions on the powerful Sharetec mobile platform, is a great win for our customers.”

To read the full case study, click here.
 

eServicesTNwinnebago

Sharetec’s unique functionality saves Credit Union over $14,000


Sharetec does it again! Yet another success story of a customer facing a problem and Sharetec providing a solution. Winnebago Community Credit Union (WCCU), out of Oshkosh, WI, with assets over $140 million, wanted to improve their cost savings and operational efficiencies, as well as member relations. They turn to their long term partner Sharetec which provided the solution by incorporating Auto-Enrollment.

Sharetec’s Auto-Enrollment allows credit unions to provide their members an easy to use, secure and user-friendly option to view and print eStatements and eNotices from the convenience of any device with internet access. This is a simple option members have come to expect from their credit unions so this should be something each credit union expects from their core partner.

Before WCCU switched to Sharetec’s Auto-Enrollment, only 32% of their members were using Online Banking and only 16% of those members were using eStatements and eNotices. After WCCU incorporated Auto-Enrollment, 96% of their members are using Online Banking and eStatements/eNotices. That is a 500% growth and an annual cost savings of $14,500 for the credit union.

Tony Tiede, President of WCCU, comments, “We pride ourselves on our sales and service culture. The benefit to our members is a secure and timely receipt of their statements. We have benefited by saving money due to the lower cost of the electronic delivery”. 

With Sharetec’s Auto-Enrollment, WCCU has the peace of mind that their statements and notices are being delivered to their members securely and more efficiently than before. It has proven to show a true return on investment for WCCU, as well as many other Sharetec customers. Sharetec continues to grow its product and service offerings to enhance credit union member experience while saving the credit union operating costs.

To read the full case study, click here
 
 

EvansvilleFF

Yet another satisfied credit union has recognized the true ROI of partnering with Sharetec. Sharetec specializes in providing ROI based solutions to credit unions of all sizes encountering a wide range of issues and growth hurdles.

Evansville Firefighters Federal Credit Union (EFFCU), wanted to find a core system that would not only provide their members modern services to compete with larger credit unions but also help increase income for the credit union. Making the decision to switch to Sharetec has proven to be a great success. Sharetec’s automation allowed the credit union to reduce staff by 12.5%. Sharetec’s courtesy pay allowed the credit union to eliminate an expensive third party vendor, therefore increasing income. Other benefits included: productivity, lower overall overhead and the ability to offer modern technology to members therefore increase new memberships and maintaining current members.

“Our income went up by $17,000 once we cancelled 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 EFFCU.

The benefits Sharetec has to offer has in turned helped 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.”

To read the full case study, click here
 

25yrCULogos

Sharetec System, is pleased to announce that it is celebrating 25-year partnerships with several successful credit unions. Among the credit unions that opted to partner with Sharetec in 1995 were Akron Fire Police Credit Union (AFPCU) of Akron, Ohio, Brewster Federal Credit Union (BFCU) of Brewster, Ohio, and Common Roots Federal Credit Union (CRFCU) of Cranberry Township, Pennsylvania. Each of these financial institutions had come to realize that they needed an advanced core processing system backed by excellent service to help them grow beyond the approaching millennial year. And grow they did, as all are celebrating strong and prosperous 25-year partnerships with Sharetec.


Many credit unions today, still face the same struggles of 25 years ago. These problems limit credit unions from successful growth. Not to mention mounting operational expenses, inadequate support services, lack of reporting, delays in loan and membership application processing and stagnant membership growth. Sharetec is proud to offer solutions to all of these operational hurdles and that is another reason why so many credit unions maintain their partnership with Sharetec.

AFPCU’s Operations Manager, Georgeanne Hoover, states that reaching their 25-year milestone with Sharetec has been remarkable. “Looking back, our credit union has evolved and grown in so many ways. We have added many new products and services that help us respond to the changing needs of our members,” she notes. “We appreciate that Sharetec has been with us every step of the way, offering the support we need to serve members and for the back office and reporting functions, as well as keeping us up to date with evolving technology. The Sharetec team is always very professional and helpful!”

Joanne Smith, Manager/CEO, BFCU, says that as a whole, their credit union staff has always appreciated the fast and friendly service they receive from the tech support at Sharetec: “When I have ‘one of those days’ and it seems like I have to call multiple times for questions, the Sharetec staff always answers with a smile and provides excellent customer service.” 

According to CRFCU’s CEO, Kasi Devinney, outstanding support has also been invaluable over the years. “We truly value the ongoing support we receive,” she remarks. “Sharetec’s excellent service and support have helped to ensure that the features are working optimally to benefit our members and employees and that everything continues to run smoothly.”  

Dan Miller, VP, Sharetec, appreciates the longevity and strength of Sharetec’s 25-year partnerships. “Without a doubt, as we’ve helped these credit unions improve their functionality and efficiencies, we’ve also been able to improve our company and its offerings,” Dan states. “Listening to their requests and meeting precise needs have helped us enhance and increase the features of our system, making the Sharetec solution progressively better over the years. This continues to be a ‘win-win’ situation for everyone involved. I can’t congratulate and thank these credit unions enough.”

Sharetec’s 25-year partners all continue to be satisfied with the numerous features and benefits of the core processing solution. The vast number of improvements that have resulted have changed the way they do business and enabled them to devote more time to upholding their commitment to offering the best financial products and services to their members.

To read the full success story, click here