Blog
- Details
There is no question a big part of a new conversion to the Sharetec system or any system for that matter, is training. Although the credit union staff is highly knowledgeable, no one knows how to completely use a new system right after a conversion. Sharetec provides a comprehensive training program and platform that allows credit union staff to learn at their pace.
With that said, what about credit unions that have been on the system for a long time but are not necessarily using all the features or have staff members that want to see if there is a more efficient way to perform a daily task? What about staff changes? What about new technology that comes out? As the credit union technology needs change and new products and services are introduced, there is a need for extensive training. Sharetec offers a comprehensive and ongoing training system that is built to fit each credit union in the most efficient way possible. We understand that new staff members are added or new tools are added that the staff may not know how to use. This is where our platform comes in to play. Lifelong learning is one of the best ways to grow and Sharetec believes this is equally true for making the most out of our system and what it has to offer.
Sharetec provides all credit unions with free training programs to ensure they know all the ins and outs of the system to better serve their members. With this offering, credit unions have reported, an increase in confidence within the staff, improved workflow, and an overall greater efficiency throughout the credit union.
“Our new lending staff received individualized training and were able to work through a loan from start to finish on the demo site without the worry of a member sitting in front of them. The tips and tricks we received along the way gave them the confidence they needed. When completing their training, the staff felt like they had a very strong understanding of the loans Workspace that would have taken weeks of training in our office,” states Jenny Kutz, Manager at Members First Credit Union.
Cindy Duke, CEO of Natco Credit Union states, “We continue to send our staff for additional training as needed. They always come back with new ideas and processes that improve the way we manage the credit union and serve our members."
Free ongoing training at one of the Sharetec offices will not only provide CUs with the information they need to succeed but it will give each staff member the confidence they are using Sharetec to the best of their knowledge. Sharetec continues to add new products and features to better fit the needs of all credit unions and our main focus is to help you succeed and get the most out of your investment and partnership with Sharetec.
To read the full success story, click here.
- Details
Too often companies use blog posts and other content to promote themselves and their businesses. We use posts to promote new products and how they can help you and your members. We also use posts and content to inform you of industry news and trends. We do all these things as do many other companies but how often do we actually take some time and thank you, our dedicated partners? Well not often enough and definitely not in this space so here it goes, this entire blog post is dedicated to our amazing, wonderful, incredible, awesome credit union partners!
We want to thank you for your continued trust and loyalty to the Sharetec team and system. We are nothing without you and while we understand sometimes things may go wrong or unexpected, our goal and 100% focus is ensuring you and your members are taken care of day in and day out, after all, that is our job! One of our core pillars is to make something better every single day. We are constantly working to improve our processes and to make sure you don’t experience any issues. Over the last 18 months we have hired over 45 people to help make us better. We have invested heavily in infrastructure and processes to ensure smooth operation for our current and new converted credit unions. We are improving our 3rd party vendor list and have over 60 integrations. Our open API takes us to the next level as well. We are doing everything we can to make integrations and migrations seamless so your membership does not feel too much of a change. Again, we are nothing without you and our job is to ensure you are happy.
We want to thank all of our long term partners that have trusted us for over 20 years. We have changed a lot over the years as have you and we could not ask for better partners and we are happy to know that we are doing something right if you all have chosen to stick with us for so many years. To all of our new credit unions, we thank you for trusting us and allowing us to serve you, we believe this is going to be an amazing and fruitful partnership.
We continue to perform our customer satisfaction surveys (quarterly and annual) and we really do take those back to our team and improve on every little note. If we are lacking in a certain area we add talent and resources as needed in order to get us not only up to par but above and beyond. We do not believe in average or good enough. Everyone else focuses on just doing enough to keep their customers, we are a group of talented overachievers that love to please our customers and provide the best level of service available.
Some of the advancements we have made have been to better serve you while cutting costs and increasing efficiency not only for your system but also your staff. Our V10 product (set to be fully developed by summer of 2023) is going to revolutionize the industry and we believe it will be one of the most robust systems available. What makes us and our software different is that it is fully customizable. We know each credit union is different with various needs and we have built our system to scale and to be flexible enough to fit you well. We believe there is no other system out there that is as customizable and flexible as Sharetec.
Again, we want to thank you ALL! We are so grateful to be able to serve such amazing customers and we have loved getting to know some of you over the years. We will continue to put you first and focus on improving. Improvement and growth never stops and we will do whatever it takes.
Thank you! – Sharetec Team
- Details
When it comes to financials and member information, credit unions must not and cannot cut any corners whatsoever. This is more important now, more than ever. With increasing tensions and escalation across the world and the increase of cybersecurity threats, credit unions and their staff must take extra precautions and be extra careful when it comes to security. Increasing issues across the globe have led to increased security risks and hacking around the world, most specifically in the US. Cyber criminals are active more than ever before due to the vulnerability and the lack of awareness by companies and consumers.
Many credit unions believe they are doing everything they can especially when they are working with a 3rd party IT and security services provider. While it is very important and valuable to work with a 3rd party provider, this provider usually does not have control over day to day practices and the security measures all credit union staff must take working within the credit union location. All staff members must keep the following in mind:
- Unique and complex passwords that are changed every 60-90 days
- Understand that they cannot share or know any other staff members’ passwords or private information
- Keep member and financial information inside the branch on secure networks
- Do not visit suspicious or unknown web pages while on the credit union secure network
- Practice and follow all security protocols and measures
- Have specific guidelines and safety protocols if anything does happen
It is the job of the credit union IT and management team to ensure all of the above guidelines are being followed and any staff member that violates the above should be consulted and corrected. The financial sector is one of the highest targeted industries as it is directly linked to money. It is the quickest and easiest way for a cybercriminal to attack and succeed.
It is of highest importance that all credit unions and their staff follow security best practices and ensure that cybercriminals do not succeed especially when it comes to member financial information. Set complex passwords and change them frequently, do not share information with anyone and always be safe when using the internet on the credit union’s private secure network. All of these points along with best in class network security, from a reputable 3rd party provider, will ensure your credit union never falls victim to an attack.
- Details
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.
- Details
There is no question Covid has changed the dynamics of how and where people work. Many of us that were able to, worked from home for 2+ years. Many continue to work from home and others are adopting a hybrid model. There are mixed feelings among many Americans when it comes to the discussion of coming back to the office or continuing to work from home. While both sides have valid points, there is no question that this pandemic changed the way businesses interact with current and prospective employees. Many new employees require remote or hybrid work situations. It is believed that remote work and hybrid models will remain permanently as the struggle to find workers continues across the nation.
Many companies are encouraging while others are requiring their employees to report to the office. There have been reports across the country, that almost 25% of employees would rather quit their job than to report to the office every day. This should not be a shocking statistic. Employees know that they can find other opportunities that will allow them to work from home or at least a hybrid situation. For companies to be successful in bringing people back in to the office, they must provide an incentive. Yes, an incentive to get your own employees to come back to the office where they used to work back before the pandemic. Times are different and for employers to attract top talent, they must make changes whether they like it or not. Employers should provide a fun, exciting and motivating workplace, especially with the younger demographic. The younger demo prefers to have fun activities in the office and modern spaces. No longer can you have a big building with cube farms everywhere and expect to have motivated people coming back to the office each day. The bigger tech companies provide enough incentive that the employee won’t even need to leave the building until it is time to go home. These companies provide fully stocked kitchens with food provided, designated napping areas, pool tables, ping pong tables, movie rooms and so on. Now we don’t all have the budget to provide all those amenities to our employees but we do have the capacity to do some of those things. At the very least providing a modern and comfortable space in a popular location of town where employees are excited to attend. Maybe we don’t have the capacity to offer free food or a theater room but our office is close enough to shops and restaurants that employees always have good options.
Whatever the case may be, one thing remains important with all the changes that have happened over the last 2+ years. Many employees are happy to return to the office and get out of the house and interact with their co-workers. There is also an equal amount of employees that prefer to stay home at least a majority of the week. Whatever the case may be, companies have started to adapt to these changes in order to keep their current talent while attracting new talent. Make your office exciting and a place people want to come to every day. Make the space comfortable and modern and encourage employees to provide input on what will help them do their jobs better and make them more comfortable in the office. If your employees are able to do their jobs from home then it may be a good idea to allow them or at least 2-3 times per week. Changes take time and never comes easy but the professional world is very different than it used to be 3 years ago and as with any change, we must adapt in order to keep moving forward. Change is inevitable, how your business adapts to that change is what makes you the desired destination for top talent and customers.
