Credit unions rely on non-interest income as a reliable source of revenue. Courtesy pay is one of those services that credit union can offer their members to help the member stay in the good graces of their creditors and other vendors. Sharetec provides credit unions with the next generation service in which tiers dictate what fees the member pays for this service.

Courtesy Pay covers overdrafts, up to an approved limit, in exchange for a flat fee per overdraft transaction. The member receives the protection from bouncing a check, which saves the member embarrassment as well as protecting their credit score. A fee is then charged to the member for the service of covering the check despite insufficient funds in the member’s account.

Under a tiered approach to courtesy pay, members that use the service the most get charged the higher tier rate while the other members enjoy a reduced rate. Because of this increased rate tier, many credit unions see a significant boost in their monthly income. One credit union saw an 11 percent increase when they made the switch from a flat rate to the tiered model. Click here to read our case study on Tiered Courtesy Pay.

Tiered Courtesy Pay offers all the benefits of its flat-rate predecessor and comes highly recommended by industry leaders. All In all, credit unions see increases in monthly income while members enjoy the benefit of lower fees. Sharetec continues to provide cutting edge solutions for all size credit unions and is an industry leading core processing provider.

data center

As a Credit Union professional, protecting your members – specifically, their data – is among your highest priorities. How will you recover if something happens to your on-site data storage?

Sharetec’s Offsite Data Redundancy Program creates a regular backup of all your data (weekly, nightly, every 20 minutes, etc.). All of your data is replicated remotely to our secure hosting facility, and you receive a confirmation when successfully completed.

Sharetec’s Offsite Disaster Recovery Program includes constant monitoring and periodic testing of your remote backup data.

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Landmark Credit Union has been promoting Sharetec's Easy Saver Program, or as they call it, "Round Up" savings, to members for many years and use the term "throwing your loose change in a jar" to increase enrollment.

Anna Melecosky, Vice President of Landmark Credit Union, remarks, “We have a simple statement on our debit card application that allows our members to select the program when applying for a new debit card. This gives us the opportunity to cross-sell this option to our members, offering them complete control of their money that is being transferred to the account.”

Anna continues, “With about 16% of our Share Draft accounts currently enrolled in our Round Up program, members are amazed how quickly their account grows just by using their debit card for purchases.”

To read the full case study, click here.

Mobile banking GBS

Your Credit Union members have busy lives, so they know the value of ease, speed, convenience and security when it comes to remote banking. With Sharetec’s Mobile Banking, your members - even those frequently on the move - can have all that and more.

Sharetec’s Mobile Banking provides members with an easy, fast and secure way to remotely manage their accounts. With a touch of their smartphone, members have an easy-to-use, easy-to-read banking screen at their fingertips. And with Sharetec’s advanced encryption technology, our Mobile Banking allows your members to bank with complete confidence that their personal information is protected.

Our Apps - developed specifically for the smartphone user and supported by Android and iPhone - provide quick access to the sign-on screen and to account information. For smartphone users who regularly browse the internet, Sharetec’s Mobile Website allows members to retrieve account information and make transactions from their phone’s web browser, on a site optimized for the mobile experience.

Features on our Apps and Mobile Website include the ability to:

  View balance information and detailed transaction activity

  Find ATMs and branches

  Transfer funds

  Pay bills

  Remotely Deposit Checks

With all of these benefits within reach, Credit Unions and their members are sure to discover that Sharetec’s Mobile Banking is the easy, fast, convenient and secure way to go!

Enter Now Pay Later image

What Credit Union wouldn’t choose to hold on to their funds a little longer?  With Sharetec’s Accounts Payable feature, you can do just that!  Accounts Payable is set up with your best interests in mind as it enables your staff to enter invoices received from vendors today, but delays the actual payment.  So you can arrange to have payments auto-expensed now and rest assured that your payment will be processed at a later time based on the due date.

Accounts Payable allows you to:

  • Keep your funds for as long as possible

  • Simplify vendor research and organization

  • Enjoy comprehensive AP functionality

Combined with Sharetec’s pre-paid component that auto-amortizes prepayments, the Accounts Payable feature amounts to comprehensive functionality—a complete expense and amortization system that your Credit Union can rely on and benefit from both now and later.