BOCA RATON FL, July 9, 2014 – Today’s Credit Unions operate in a very difficult and hyper-competitive environment.  With thin margins, increasing regulations and pressures from large banks to provide full service to its members, credit unions are searching for products and services to both attract and retain members.   From business loans to mobile access to account information, today’s credit unions need core vendors that can not only provide services, but also create revenue opportunities for the credit union. In this 21st Century Television feature story, Kevin Kolar, VP of  Bradford-Scott Data Corporation discusses Sharetec Credit Union Software.  This story will air on Bloomberg Worldwide (as pd. prog) on July 12, 2014. Check your local listings for airtimes

In 1994, four regional partners, including Bradford-Scott Data Corp, collaborated to form Sharetec, with the purpose of developing and distributing innovative software to credit unions throughout the United States.

Today, Sharetec is a leading national provider of credit union software solutions.

According to Kolar, his company’s software helps credit unions generate income in a variety of ways, but the top product offered by Sharetec, by far, is Tiered Rate Courtesy Pay. Tiered Rate Courtesy Pay rewards members who have infrequent overdrafts by lowering their overdraft fees accordingly. Reversely, members who suffer frequent overdrafts pay higher individual penalties. This type of courtesy pay has proven to increase revenue for credit unions by as much as a 53 percent.

Another product offered by Sharetec is the Home Banking Opt-In Product. This feature auto-enrolls members in the services that credit unions most want them to use upon log-in. Both features have proven to increase the ROI of the credit unions using them by significant measures.

Credit Unions who try Sharetec’s software solutions find an easy-to-use platform that has built-in room for expansion and solid research and development backing.

To learn more about Sharetec Systems watch 21st Century Television’s episode on Bloomberg Worldwide (as pd. prog) on July 12, 2014.  Check your local listings for airtimes.

21st Century television, along with Vice President of Programming, J.L. Haber, is happy to bring you this coverage of innovative credit union software solutions. “Sharetec has taken the problem of declining interest income among credit unions and made it a non-factor,” says JL Haber, Vice President of Programming for 21st Century Television. “We’re happy to provide coverage of the sort of forward thinking practiced by Sharetec and it’s backers.”

Click here to watch.




Sharetec System
recently held its product development and focus group meeting in Atlanta, GA with credit union executives representing four regions of the country.  With an eye towards the future, Sharetec used this meeting to gain insights from its clients into the new technologies and services that will be required to service the next generation of credit union members.

After the 2-day meeting Jeff Gladu, CIO at Red River FCU, reported that, ”Sharetec REALLY listened to all the attendees.”  Steven Adee, CEO of Santa Fe FCU, added, “Sharetec is working to advance the technology in the core system, and I love that they are asking for input from their Credit Unions!”

Sharetec has used focus groups strategically in the past to help shape the way they implement new technology.  From building a 5300 Call Report Assistant to integrating Check 21 into the core to  pushing out Mobile Banking with Remote Deposit Capture and Bill Pay, past Users’ Conferences and Focus Groups have brought strong leaps forward for one of the fastest growing core systems on the market.

Keep an eye out for the latest from Sharetec.  If the past is any indicator, we should be seeing great things coming from this system, the core with an ROI!

Money FCU

Money Federal Credit Union (MFCU), headquartered in Syracuse, NY, has announced that it has selected to replace its current core processing solution with Sharetec System. Their decision to go with the Sharetec Core Processing System was facilitated by GBS, an owner and distributor of Sharetec.

After learning about Sharetec, President and CEO Bruce LaGrow and his Operations Team were convinced that the solution was the right choice for MFCU. They felt that Sharetec was the most user-friendly solution of their core processing choices, and they were impressed by the many features, including Person to Person Payments and Remote Check Capture.

However, the clincher, Bruce noted, was that “features that are extras on other systems are included in Sharetec’s core, fully integrated into the system, which made Sharetec definitely stand out. It was an easy decision.”

Already working with the Sharetec team ten months ahead of the scheduled conversion, Bruce and his team have been very pleased with their experience. “I’m confident that we’re keeping our finger on the pulse of this entire conversion process until the day we flip the switch,” said Bruce.

About MFCU

MFCU Union was founded in 1976 by Mutual of New York Life Insurance Company employees who wanted an alternative to the high costs at commercial institutions. They now serve more than 4,000 members from all over the world. While MFCU proudly offers its financial services throughout the NY counties of Onondaga, Oswego, Cayuga and Madison, they boast a "once a member, always a member" policy, meaning that members can keep their accounts for life. Even if members leave the area, they can still access their accounts at one of MFCU’s 5,500 service center locations across the United States.

About Sharetec Systems

Sharetec, a provider of both in-house and service bureau core solutions, has nearly 300 core credit unions and has grown 67% since the year 2000.

Harvester Logo
Sharetec System announces Harvester Financial Credit Union in Indianapolis, IN, has successfully converted to the Sharetec Core System.

“Core conversions can be a challenge, but everyone involved handled it with superior professionalism. The Sharetec team was instrumental for making our conversion such a success. We couldn’t have been better prepared than we were,” comments John Bergeson, President of Harvester Financial CU.

Audra Schoenauer, Sharetec’s lead project manager for the Harvester Financial CU conversion, comments, “Harvester’s dedication and commitment to this conversion was a huge part in making it a great success.

About Harvester Financial CU

Since 1954, Harvester Financial Credit Union has grown its membership to serve residents of Shelby and Marion counties in Indiana. They have over 8,000 members and more than $54 million in assets.

About Sharetec System

Sharetec, a provider of both in-house and service bureau core solutions, has nearly 300 core credit unions and has grown 67% since the year 2000.

Sharetec System announces that CPS IBEW FCU of San Antonio has selected Sharetec for its core and home banking processing.

CPS IBEW FCU was seeking a relationship with a core processor that offered not only the technology expected from a “national brand” but also local, professional support and service from a staff that is dedicated to the credit union industry.  That is exactly what they found when they partnered with Sharetec.

The credit union will add On-Line Loan Applications, Mobile Banking with Remote Deposit Capture, On-Line Member Enrollment, and many more of Sharetec’s state-of-the-art products.  We are both looking forward to this new partnership.


After 75 years CPS FCU is still going strong!  In 1938, a group of CPS Energy employees opened the first CPS IBEW FCU in San Antonio.  It is the only credit union to exclusively serve CPS Energy employees and their families.  The credit union currently has over 5,400 members with $39 million in assets.

About Sharetec Systems

Sharetec, a provider of both in-house and service bureau core solutions, has nearly 300 core credit unions and has grown 67% since the year 2000.