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Holley Credit Union of Paris, Tennessee, recently announced that it has selected to replace its current core processing system with the Sharetec solution.
When weighing their options, Holley had two objectivesto replace a legacy core processing system that was no longer receiving investment and hampering them from keeping pace with changing technology; and to increase automation, which would allow them to reduce busy work and shift their focus more towards meeting their members’ growing needs.
Holley was seeking an innovative, long-term core processer that would bring them up to speed and help them excel within the highly competitive credit union industry. Since this decision was vital to their future success, Holley needed a new provider that would meet all of their needs; so they researched their options thoroughly, and reached out to existing Sharetec clients for their testimonials on the software.
Holley was highly motivated by the full features and functionality of the Sharetec solution and the vast capabilities that would be at their fingertips with a fully automated system. The tight integration of third-parties and reduction in the number of vendor relationships that would need to be maintained, as well as Sharetec’s steadfast commitment to meeting their ongoing needs, were also key motivators.
Holley Credit Union is pleased with its decision to implement Sharetec and looks forward to reaping the rewards of their new robust core processor. As their manual processes become fully automated, the credit union will be able to provide staff with a full featured and modern system that can greatly improve efficiency. Likewise, their members are sure to appreciate the cutting-edge internet and mobile tools that will make their banking experience much easier and more convenient. As members are able to leverage technology to satisfy their needs, the daily burden on the employees will be reduced, which will allow Holley to function more effectively and efficiently.
About Holley Credit Union
Established in 1952, Holley Credit Union of Paris, Tennessee, serves over 6,100 members within the counties of Henry, Carroll, Stewart and Weakley. The credit union has adopted a teamwork concept and a "people helping people" philosophy that make it unique among financial institutions. Set up as a financial cooperative, Holley’s profits are passed on to members through better interest rates, lower fees and convenience services. As a result of their ongoing success, they have accumulated approximately $58 million in assets.
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Join Sharetec in celebrating 25 years with Waco FCU. Tony Head, President/CEO of Waco FCU comments below.
“Your core system needs to support your credit union’s vision for serving you and your membership. We have continued our relationship with Sharetec for 25 years due to the efficiency the system provides, and the great support we receive from everyone at Sharetec. The personalized service has made us feel like family. Providing value and a great relationship is the key to a long-term partnership between a credit union and its core, and we hope it continues for years to come.”
To read more, click here.
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Credit union members appreciate the ease of using Allied Payment Network for their bill pay and person-to-person transactions; the adaptability to mobile offers them access wherever they are. This accessibility puts credit unions in a 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.”
PicturePay technology allows members 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 person-to-person transaction speed, allowing recipients to accept payments through standard ACH or in real time to their debit cards.
To read the full case study, click here.
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With Sharetec’s Offline Processing feature, your credit union can continue to service its members in the midst of challenging connectivity issues. Betsy Rhynes, President of Streator Community Credit Union, comments, “After a day without internet I can’t say enough positive things in regards to Offline Processing. It made what could have been a real disaster much easier to handle.”
Benefits of Sharetec’s Offline Processing Feature:
- When the connection to the system is down, your staff can continue to perform transactions for members.
- Even in an offline environment, employees will be able to view members’ balances so excessive cash disbursement is prevented.
- Once the connection to the Sharetec server is reestablished, then all those off-line transactions post without the employees having to rekey the data.
To read more about Sharetec's Offline Processing, click here.
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Sharetec’s Fixed Assets program is not only smart and customizable but a perfect way to avoid a potential meltdown over dreaded account errors. The Fixed Assets program auto-depreciates your assets and correctly updates the general ledger entries based on the parameters that you establish. Your Credit Union simply provides the depreciation start date, acquisition amount, asset life, frequency, and salvage value and Sharetec takes it from there.
Sharetec’s Fixed Assets program will work diligently to assist your Credit Union in avoiding errors. The system enables you to create your own fixed assets types, as well as connect the proper general ledger accounts to them. Therefore, when your assets are auto-depreciated, you avoid any possible frustrations caused by errors as the system easily utilizes the correct general ledger accounts and eliminates mistakes.
