Helpful Resources

Ultimate Checking Module Increases Revenue 27% for Illinois Credit Union

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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 current members will also embrace it.

Gas & Electric Credit Union, located in Rock Island, IL, took advantage of Sharetec’s powerful Ultimate Checking module to launch a successful high-yield checking account. “This was a product that we felt we had to have in order to compete. We pay 4% interest when various requirements are met and our members have really embraced it. 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.”
Gas & Electric Credit Union

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 Credit Union, 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.”
Matt Isger, Sharetec Regional Director

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