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PRESS RELEASE
May 20, 2020 - FOR IMMEDIATE RELEASE

LINO LAKES, MN – Sharetec System, one of the fastest growing core systems offering the technology of simplicity, announces that it has made numerous measures available to its credit unions and their members across the country who may be struggling with issues related to the ongoing coronavirus pandemic.

To assist its credit unions in better servicing their members and help them through what could be disruptive times, Sharetec reached out to these financial institutions to announce these specific measures that we would make available to them, which include:

    • Temporarily waiving late fees for all loans
    • Turning off the Regulation D limitations so members can freely move their funds to transactional accounts
   
• Temporarily waiving overdraft fees until a certain date
   
• Temporarily waiving excessive transaction fees until a certain date
   
• Helping to incorporate a skip payment(s) program if the credit union does not already have one
   
• Increasing debit card limits, if controlled by Sharetec
   
• Waiving penalties for early CD withdrawals
   
• Waiving monthly service fees

One such credit union that has benefited from Sharetec’s specialized assistance during the pandemic is Money Federal Credit Union (MFCU) of Syracuse, New York. Like most financial institutions, they have members who are struggling with financial obligations such as auto loans, house payments and service fees, and often times, cash shortages due to extenuating circumstances. Wanting to help these credit unions and their members adversely affected by the crisis, Sharetec offered these special provisions to help alleviate some of the financial burden.

According to Linda Fitzgibbons, Chief Operating Officer, MFCU, rapid changes were affecting their credit union and its members. “Like most other financial institutions, our way of doing business changed quickly and unexpectedly over the past few months. Sharetec was as responsive as ever, offering advice and taking a proactive approach in regards to what the system could do to further help our members, and us. The Sharetec support team was the reliable business partner we needed during these uncertain times.”

As credit unions continue to change how they service their members, Sharetec is well prepared to adapt to their shifting needs. The company is fortunate in that its business and IT infrastructure are easily transitioned to a remote environment. As many of our Sharetec support team members are able to work from the safety of their homes, they are effectively collaborating to serve credit unions as if they were in their usual office environments. Dan Miller, Vice President, Sharetec, stresses that credit unions can be assured that Sharetec will continue to be readily available to serve them, both now and in the future. “During these unsettling times, we want our credit unions to know that our partnerships are invaluable to us, as is the financial well-being of these institutions and the members they serve. In keeping their best financial interest at the forefront, we will continue to adjust to the current state and provide assistance however we can. We will be working gladly and efficiently to service them daily in a remote environment, and we are poised to continue this practice into the future.”

About Sharetec
Sharetec, a provider of both service center and in-house core software solutions, delivers a return on investment (ROI), builds income streams and lowers operating expenses for over 250 credit unions. Since its establishment
in 1993, Sharetec has grown steadily, welcoming over 50 new credit union clients in the past 3 years.

Dan Miller
Vice President
844-802-4441
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This information contained in this press release is accurate at the time of publication. However, specified
information may change over time. Terms and Conditions

For PDF version, click here

WesternIN
PRESS RELEASE

April 21, 2020 - FOR IMMEDIATE RELEASE

LINO LAKES, MN – Sharetec System, one of the fastest growing core systems offering the technology of simplicity, announces Western Indiana Credit Union in Sullivan, IN, has selected Sharetec to be their next core banking system.

Mitzi Perkinson, CEO of Western Indiana Credit Union, comments, “When the decision was made to begin the search for a new core processor, I knew that I wanted to work with a company that has similar values, respect, and service that we provide to our own members on a daily basis. It was very evident from the start that this is the case with Sharetec. They have a highly dedicated team with personable service. There is no doubt that our decision to convert to Sharetec will help us grow and continue to serve our members in ways we haven’t been able to in the past!”

“Western Indiana Credit Union was very thorough in their search for a new core platform. Some of their efforts included multiple demonstrations, site visits to see the system in action, and a number of phone calls to customers using Sharetec. We are proud to welcome the WICU staff to our Sharetec family, and are honored that our customers gave us their strong recommendations,” comments Matt Isger, Regional Director for Sharetec.

About Western Indiana Credit Union
Western Indiana Credit Union was established in 1932 by local farmers in hopes to help the community. Since then, we have continued to grow and have expanded our services. WICU is a not-for-profit, member-owned financial institution. WICU is governed by a board of directors which are comprised of members of our community. They serve on a volunteer basis and are elected by members of the credit union. We are proud to stay true to our founding values of "People Helping People".

About Sharetec
Sharetec, a provider of both service center and in-house core software solutions, delivers a return on investment (ROI), builds income streams and lowers operating expenses for over 250 credit unions. Since its establishment in 1993, Sharetec has grown steadily, welcoming over 50 new credit union clients in the past 3 years.

Matt Isger
Regional Director for Sharetec
844-802-4441
This email address is being protected from spambots. You need JavaScript enabled to view it.

This information contained in this press release is accurate at the time of publication. However, specified information may change over time. Terms and Conditions

For PDF version, click here

CrossRoads

PRESS RELEASE

March 31, 2020 - FOR IMMEDIATE RELEASE

LINO LAKES, MN – Sharetec System, one of the fastest growing core systems offering the technology of simplicity, announces CrossRoads Financial FCU in Portland, IN, has selected Sharetec to be their next core processing system.

“Sharetec offered the updated core processing system we desired to provide improved services for our members,” said Donald C. Gillespie, President/CEO of CrossRoads Financial Federal Credit Union. “From our initial conversation with Sharetec they concentrated on determining and meeting our needs with a personal, tailored approach. We are excited about streamlining our current procedures and the opportunity to offer a top-of-the-line member experience in our offices and across digital platforms.”

With a variety of new improvements that will be added to the credit union, many CrossRoads employees have shared their excitement about online and mobile banking that will offer an updated and modern look, and an easy mobile facial login experience. Another benefit members will have is the ability to receive real-time email or text alerts, with a variety of alerts available to choose from like automatic daily balance, balance falling below a certain amount, and loan payment reminders.

One of the most important improvements to the credit union will be convenience and ease of the system to help them improve their services provided to members. Over 90 cumbersome processes will be streamlined compared to what the CU is working on now. CrossRoads Financial FCU is looking forward to bill pay ease of use, scanning bills, and working with companies to make electronic payments possible - instead of paper checks.

Matt Isger, Regional Director for Sharetec, comments, “CrossRoads Financial FCU is focused on offering all members the services they are wanting. No longer will younger members tell the credit union they found better digital & online services elsewhere. The credit union will no longer work diligently to educate the high school students, only to see the students join another financial institution when they want person to person (P2P) transfers or account to account (A2A) transfers.”

About CrossRoads Financial FCU
Located in east central Indiana, people and finances meet at CrossRoads Financial Federal Credit Union. Founded in 1950 by a group of Portland Forge employees, these foresighted individuals liked the idea of having access to a Credit Union----a not-for-profit financial cooperative, built on a philosophy of people helping people. CrossRoads has 100 Select Employer Groups with 9,100 members being served at four locations. Today, CrossRoads remains committed to our mission of Helping members meet their financial needs… one CrossRoad at a time.

About Sharetec
Sharetec, a provider of both service center and in-house core software solutions, delivers a return on investment (ROI), builds income streams and lowers operating expenses for over 250 credit unions. Since its establishment in 1993, Sharetec has grown steadily, welcoming over 50 new credit union clients in the past 3 years.

Matt Isger
Regional Director for Sharetec
844-802-4441
This email address is being protected from spambots. You need JavaScript enabled to view it.

This information contained in this press release is accurate at the time of publication. However, specified information may change over time. Terms and Conditions

For PDF version, click here

news
PRESS RELEASE

April 9, 2020 - FOR IMMEDIATE RELEASE

LINO LAKES, MN – Sharetec System, one of the fastest growing core systems offering the technology of simplicity, is pleased to announce that Horizon Credit Union of Kingsport, Tennessee, has opted to implement the full features and functionality of the Sharetec Core Processing Solution.

When Horizon Credit Union set out to replace their existing system with a new and improved core processing solution, they had specific enhancement goals in mind. According to Beverly Boling, Horizon’s CEO, their financial institution required a smart solutionone that would offer the perfect combination of an innovative core processing system and a knowledgeable, supportive service provider. “We were looking to greatly improve our credit union’s overall functionality to enhance our daily processes and the level of service we provide to our members. We also sought to achieve a better value for our investment,” states Beverly. “Therefore, when we learned about Sharetec’s long list of benefits, we took the next step and requested a demonstration. We wanted to determine if the system would fully meet our needs, and if the people behind the solution would adequately support us.”

In order to highlight the software’s innovative features and functionality and offer their support, the Sharetec team provided Horizon with thorough demonstrations and continued to address their key questions and concerns along the way. As the credit union had an opportunity to view the system’s vast capabilities firsthand, they discovered that Sharetec was highly capable of meeting their technical requirements.

As Horizon continued to explore Sharetec’s features and benefits, it became clear to their decision makers that more efficient processing would greatly reduce the time spent on manual and labor intensive tasks. Sharetec would also provide peace of mind by offering a lower base cost without any surprise rate increases. Additional benefits for Horizon would include the cost savings that would result from interfacing with a new debit card processor and an improved client support experience offered by the Sharetec support team.

Overall, Horizon’s decision makers were thoroughly impressed that Sharetec would be capable of meeting all of their objectives, including their firewall/IT specifications. They were especially pleased that they would be able to convert from their existing system and move forward with the innovative solution with a conversion date firmly in sight.

From the beginning, Horizon sought to find the ideal partner that would help them achieve their objectives. Thanks to Sharetec and its team of professionals, the credit union is now on the right path to successfully doing so. The core system will be used by the entire staff for all credit union processing, as well as interfacing to countless third-party applications and online/mobile banking software.

Dan Miller, Vice President, Sharetec, notes that his company is extremely pleased with their new business partnership and is looking forward to assisting Horizon in any way possible. “Stellar results are expected as our solution will significantly reduce Horizon’s ongoing costs for core processing software, while also providing exciting new efficiencies for its staff and cuttingedge, member-facing technology,” says Dan. “We know how vital it is for credit unions to succeed in this competitive industry, which is why we offer the most innovative solutions backed by strong service and support all with a return on investment (ROI) that credit unions can appreciate.”

About Horizon Credit Union
Horizon Credit Union is proud to be a member-owned financial institution headquartered in Kingsport, Tennessee. Horizon serves 6,318 members and boasts assets of approximately $56 million. Its 30 employees work in four locations in the region, including both the main office and a second office in Kingsport, as well as locations in Mount Carmel and Church Hill.

About Sharetec
Sharetec, a provider of both service center and in-house core software solutions, delivers a return on investment (ROI), builds income streams and lowers operating expenses for over 250 credit unions. Since its establishment in 1993, Sharetec has grown steadily, welcoming over 50 new credit union clients in the past 3 years.

Dan Miller
Vice President

844-802-4441
This email address is being protected from spambots. You need JavaScript enabled to view it.

This information contained in this press release is accurate at the time of publication. However, specified information may change over time. Terms & Conditions

For PDF version, click here

EvansvilleFF

PRESS RELEASE

March 19, 2020 - FOR IMMEDIATE RELEASE

LINO LAKES, MN – Sharetec System, one of the fastest growing core systems offering the technology of simplicity, announces Evansville FireFighters Federal Credit Union (EFFCU) new core software, Sharetec, has paid for itself.

Lori House, CEO of EFFCU, comments, “This change has allowed us to reduce our staff by one employee, saving us over $37,000 per year. Our income also went up an additional $17,000 once we cancelled our contract with an outside vendor and started using Sharetec’s Courtesy Pay. Upgrading to Sharetec was one of the best decisions we have made.” The benefits Sharetec has to offer has in turned helped pay for the cost of converting to a new system that most credit unions fear.

EFFCU wanted to find a core system that would not only provide their members with attractive modern services, but also allow the staff to be much more efficient using the system. Making the decision to switch to Sharetec has proven great success.

Matt Isger, Regional Director for Sharetec, comments, “Some credit unions have been on systems so long, and are under false assumption that a cheap core system bill is doing them a favor. Where in fact, we have found that automation in today’s modern systems easily make up the difference and then some. New technology simply has ways to bring in more value and dollars to the credit union.”

To read the full case study, click here. For more case studies on Sharetec, click here.

About Evansville FireFighters Federal Credit Union
Established in 1936, Evansville FireFighters FCU serves Evansville Firefighter Department, Evansville Police Department, and Fraternal Order of Police #73.

About Sharetec
Sharetec, a provider of both service center and in-house core software solutions, delivers a return on investment (ROI), builds income streams and lowers operating expenses for over 250 credit unions. Since its establishment in 1993, Sharetec has grown steadily, welcoming over 50 new credit union clients in the past 3 years.

Matt Isger
Regional Director
844-802-4441
This email address is being protected from spambots. You need JavaScript enabled to view it.

This information contained in this press release is accurate at the time of publication. However, specified information may change over time. Terms and Conditions

For PDF version, click here.