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Sharetec’s Ultimate Checking allows credit unions to boost their revenue with an increase in interchange income. Ultimate Checking is a unique product that differentiates credit unions from competitors and doubles revenue compared to a standard share draft account. Not only will this product attract new members, current members will embrace it.


“Our debit card revenue grew 19% our first year and over 27% our second year. We have enjoyed 7% growth in checking accounts directly tied to this service, which has lead to more loans and other services.” Gas & Electric Credit Union

To read the full case study, click here

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As the Covid crisis hit, consumers found their lives turned upside down and simple things that we all took for granted, such as going out to a restaurant or shopping at the local mall became considerably more difficult, if even allowed. However, consumers of all demographics quickly adapted by ordering take-out delivered by Door Dash, purchasing household items and gifts through Amazon, chatting with family and friends on Zoom or ordering movies for the family on Netflix.

As consumers adapted to this new normal, they quickly learned which providers offered the best experience in terms of ease of use and simplicity. Not only have they adapted to these new channels, their use is expected to continue. According to recent research conducted by KPMG International, of the 43% of people who mainly used in-person channels prior to Covid 19, 33% have switched to digital channels and have no plans of changing back.

Meanwhile, a large majority of credit unions have not changed their basic loan origination process in years. Sure, many have added some form of an online loan application, but will this be enough moving forward? Will this alone allow the credit union to remain viable in this evolving digital world? How easy is it for members to do business with you? Once that application is submitted, for many credit unions the remainder of the process still requires a lot of manual review and remains largely paper based. Credit Unions need to realize that with their new awareness, consumers won’t be comparing their process to their competitors, but rather to the ease and simplicity offered by the likes of Amazon. It is important that steps be eliminated in the current process to speed up the time from approval to funding and to provide communication to the member during the entire process. They will expect an experience with the ease and simplicity that Amazon and other Fintech competitors provide.

In order to provide this member experience, credit unions should assess all aspects of their digital offerings to remove any friction or barriers that exist in your current process. For instance:

  • Multichannel access - the ability to utilize any channel at any time during the process to include, web, phone, mobile or other digital solutions available.

  • Mobile First Design - since most members engage with your web site first, it should be optimized across all digital devices - especially mobile.

  • Automated Loan Decisioning - Members expect instant gratification and a solid ALD platform is critical in providing timely response to applications.

  • E-Signatures - provide the convenience of not having to come into a branch to close the deal.

  • Member Support - it is critical to provide channels for communication and to provide immediate response to members questions.

Spending time to identify where these friction points exist is the first step in beginning your digital transformation. If the member or prospective member’s first interaction with your site isn’t simple and clear, they will abandon it and seek out a competitor.

Sharetec’s innovative core processing solution helps credit unions embrace change and utilize technology to meet members’ growing needs and achieve greater success. Contact us at This email address is being protected from spambots. You need JavaScript enabled to view it. to learn how we’ve assisted credit unions with improving their digital solution offerings.

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In these uncertain times, it may feel like the entire world has shrunk to the size of a computer or smartphone. After all, credit union members are interacting with credit unions primarily through mobile apps due to social isolation guidelines. Mobile platforms have gained more power as make-or-break channels for attracting and retaining members, and computers and smartphones continue to command more of everyone’s daily lives.

Sharetec’s Home and Mobile Banking allows your members to:

· View Account Transaction History
· Manage and Pay 3rd CC Accounts
· Stop Payments
· Lock/Unlock Debit Cards
· Transfer Funds Between Accounts

Sharetec Home & Mobile Banking also allows your members access to additional products:

· ProPay
· Picture Pay
· Flex Pay
· Portal Pay
· P2P Payment Tool
· Loan Applications
· Remote Deposit Capture

Empowering your members to complete their banking tasks from the safety of their own homes is great way to support your community and your members.

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SHAZAM’s a leader in payments and financial technology, with a simple mission: strengthening community financial institutions. Since they own their own software, making them both a processor and a network, they’re able to offer the lowest fees in the industry and the highest net interchange per transaction. They can help you earn the maximum net program profitability.

Card/ATM Services

• PIN, PINless, Signature, Contactless

• Business Debit

• Health Savings

• Credit Card

• Card Authorization Services

• ATM Driving and Surcharge-free ATMs

Fraud Services

• Fraud Management Services

• Fraud Advisors®

• SHAZAM Card Block

Payments

• Mobile Application Solution (Brella®)

• SHAZAM ACH

• Real-time Payments

• Digital Payments

To learn more about SHAZAM and all they have to offer, email us at This email address is being protected from spambots. You need JavaScript enabled to view it..

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Most of us would love to rid ourselves of the mounting stacks of boxed documents, overstuffed filing cabinets and jam-packed storage areas. With Sharetec’s Document Manager, you can do just that!

This innovative feature allows you to electronically store in the core all of your member-related forms and documents including:

  • Loan Applications
  • Credit Reports
  • Membership Cards
  • Share Draft Agreements
  • And so much more!!

Sharetec Document Manager also provides easy retrieval of documents without ever leaving the core. By simply selecting the member number, you’ll be able to access every document for that member, from one location in the system—without having to search for loan folders or membership cards!

Sharetec Document Manager will enable you to:

  • Save the expense of off-site storage
  • Immediately access documents
  • Eliminate the need to make multiple copies of documents for different departments
  • Reduce the amount of time spent filing/retrieving documentation
  • Easily and immediately reprint copies of signed documents
  • Centralize member documentation into one convenient location

Imagine the convenience, efficiency and savings of both time and money your credit union can enjoy, with everything accessible from the core and literally at your fingertips. It’s time to launch the out-of-this-world advantages of Sharetec Document Manager!