Month-end close shouldn't mean exporting data from one system, dropping it into another and hoping they match. But that's the routine at a lot of credit unions, where accounting runs in its own application, a step removed from the member and loan data it depends on.
Sharetec Velocity keeps accounting and back-office operations inside the core. Your general ledger, member accounts, loans and transactions all work from the same source of truth, helping your team close faster and reconcile with less effort.
Run your chart of accounts, post entries and pull a trial balance or income statement straight from live member and loan activity. Because the ledger isn't a separate system catching up overnight, the financials you pull at any moment reflect what's on the books right now.
Run ACH and share draft processing accurately every day
Handle wire transfers and daily settlement in one place
Clear exception items before they reach a member's account
Close out EOD and BOD batch jobs cleanly
Maintain a complete audit trail for critical back-office activity
When the examiner asks for backup, it's a few clicks away, not a week of pulling reports from separate systems and explaining why they don't tie out. Velocity helps finance teams prepare regulatory filings and board reports from one consistent set of numbers, so the figures leadership sees and the figures an examiner reviews are the same figures, every time.
Explore the Velocity Platform
Notebook, an option within Velocity, brings your back-office paperwork into the system. Route invoices for approval with the digital invoice attached, store vendor contracts and due-diligence packets, and keep compliance documentation organized so the backup an examiner asks for is a couple of clicks away.
No. Accounting and back-office operations are part of Velocity, running on the same code base and database as member servicing, lending and reporting.
Yes. The general ledger is built into the core and runs on the same database as member accounts and loans, so there's no separate accounting application to license or log in to.
Yes. Because everything shares one database, your team can report across the general ledger and member accounts in real time, without exporting data or waiting for an overnight batch to sync.
Velocity handles your daily back-office work, including ACH and share draft processing, wire transfers, daily settlement, exception items and end-of-day and beginning-of-day batch jobs, all inside the core.
Yes. Velocity includes built-in reports to help U.S. credit unions prepare the 5300 Call Report, along with AITSA reporting for credit unions in Puerto Rico.
Yes. Regulatory reporting varies across the Caribbean, and Velocity supports credit unions in meeting those requirements, often working alongside local vendors depending on the country.
Through Notebook, an option within Velocity, teams can route invoices for approval with the invoice attached, store vendor contracts and due-diligence documentation, and keep compliance records organized in one place.
