blog

Blog

paperCOMPUTER

Sharetec System has provided Credit Union Clients with multiple solutions to help them streamline the process of managing paper. The two main solutions we have offered have been Document Conversion Services, as well as the FileBound Content Management Solution.

Document Conversion Services has helped Credit Unions deal with the ongoing issues related to storage space, disaster recovery, and compliance, as well as lost files/documents. Many Credit Unions do not have the infrastructure to digitize their many filing cabinets and boxes of historical and active Client files themselves. They have turned to GBS. GBS has performed these functions for 40-60% less cost than if the organization did it themselves. Once those services have been completed, GBS has created an export file where the data was imported into the Sharetec System. The advantage to the Credit Union is that all the scanned member documents are now easily accessible through the software. This brings significant improvements with compliance initiatives, customer service and process efficiencies, as well as a disaster recovery solution that many organizations are struggling to implement.

Credit Unions have also struggled to find an effective way to manage their non-member documents, including documents related to accounts payable, human resources, board meetings, and more. The FileBound Software has helped customers create a more efficient way of managing that content by: one, creating that disaster recovery solution and protecting those critical documents; two, allowing the sharing of information in a secure manner with others in or out of the organization who have a legitimate need to see the documents; and third, giving them the ability to have quick and easy access to information right from their desktops. Although these documents are not directly related to Credit Union members, these documents are just as critical for the success of the organization.


Mobile banking amoung younger generations shows that the gap continues to widen away from the use of PCs.


To read more from Credit Union Times, click here.

Sharetec’s data processing system for credit unions features a fully integrated core system that includes modules for Shares and Drafts, Loans, Collections, automated 5300 Call Report, Marketing, Cross Selling, Shared Branching, Home Banking, Mobile Banking, Text Banking, Remote Deposit Capture, e-Documents, and Remote e-Sign. Additionally, Sharetec provides FINCEN and OFAC processing, Credit Bureau integration, Indirect Lending, ACH origination and automated ACH/Share Draft processing.  Sharetec is fully graphical (point and click) and offered both as an in-house data processing system or an on-line service bureau (hosted solution) environment.

star

We would like to take this opportunity to recognize Greater New Castle (GNC) Federal Credit Union on utilizing the Sharetec solution since its inception. GNC is located in New Castle, Pennsylvania and has been voted the “Best of the Best” within credit unions in all of New Castle, PA for the last ten years.

GNC’s use of the Sharetec solution for over 20 years has allowed them to more than double their assets. We appreciate the trust and confidence that GNC has placed in Sharetec over the years. We will continue to do everything possible to maintain their trust in our expertise. We look forward to a continued, mutually beneficial relationship with them.

Please know how very much we appreciate GNC’s business. We wish them ongoing success on their future growth.

5300Report

How many times have you dreaded the quarterly 5300 Call Report?  Not only can it be very time consuming and exasperating but now your credit union could face hefty fines if not turned in on time.

A January article posted by the Credit Union Times indicates just how serious these fines can be.

More than 1,000 federally insured credit unions of all sizes filed call reports late for the third quarter of 2013. Credit unions that missed the January 24 deadline will be issued warnings but the agency will assess fines of up to $1 million per day if the April 25 deadline is missed.

“Such late filing impacts NCUA’s ability to conduct effective off-site supervision and delays the release of quarterly industry data to the general public,” Matz wrote in a letter to credit unions on January 15. “It is also a drain on NCUA resources, as field examiners are required to follow up with tardy FICUs.”

To read more of this article on the call report crackdown click here.

Are you tired of gathering information for your call report?  Well with a simple process, your data gathering is completed in minutes!!

If you have the Sharetec Core Data Processing System, your data can be automatically uploaded each quarter from several different sources, including shares, loans and general ledger.  Just another standard feature with the Sharetec Core System!

eServicesTN
Sharetec eServices Enrollment allows credit union’s to provide their members an easy to use, secure and userfriendly
option to view and print eStatements and eNotices from the convenience of any device with internet access.

Winnebago Community Credit Union in Oshkosh, WI, has had great success with eServices Enrollment. Tammy Weickert, VP 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”.

Before WCCU switched to Sharetec’s eServices Enrollment, only 32% of their members were using Online Banking, and only 16% of those members were using eStatements and eNotices. There are currently 96% of WCCU’s Online Banking members using eStatements and eNotices. That is a 500% growth and an annual savings of $14,500.

To read more, click here.