Supply chain issues and labor scarcity is present today in every industry including credit unions that are being impacted, particularly at the lower end of the employee range. How to best address the present labor shortage is on the minds of every credit union CEO heading into 2022 as many consider this cultural shift in employment may be here to stay.

The credit union industry has already made great strides since the beginning of the pandemic in moving toward a digital-first mentality and creating more connected touchpoints for their members, yet there remains much more to be done in order to remain relevant in the “new-normal”.

On the positive side, credit unions remain financially healthy with plenty of capital and excess liquidity providing purchasing power to allow them to further define their digital-first strategies while implementing new technologies that automate front and back office functions to provide greater efficiencies and address the reduced labor force.

Heading into the New Year, credit unions will have much to consider with regards to implementing new technologies and re-evaluating their business processes to gain efficiencies while creating a better member experience through all channels – both physical and digital.

As a leader in the development of credit union software, Sharetec’s core processing solution helps our partner credit unions to strengthen income streams, reduce expenses while delivering one of the best return on investments (ROI) in the industry.

To learn more about how Sharetec can help your credit union do more with less contact us at .


Leading Credit Unions into the Digital Revolution, Eltropy uses their world-class digital communications platform to help Credit Unions improve operations, engagement, and productivity. Teams across the entire Credit Union can leverage Eltropy’s award-winning, secure and compliant Text Messaging platform to increase member engagement, as well as relevant insight via Analytics. Sharetec Credit Unions like Harvester Financial Credit Union and Platinum Federal Credit Union have utilized Eltropy’s digital communication services to provide their members a variety of opportunities through lending, sales, marketing, IT, contact center, collections, reviews, and more. There are several Sharetec partnered credit unions that are utilizing Eltropy and below are two credit unions that have seen significant engagement while using Eltropy with their members. With today’s technology driven world and the increase in younger members, it is important for credit unions to adopt and offer easier ways for members to engage through their mobile devices.

Kabir Laiwalla, CEO of Platinum Federal Credit Union, comments, “The platform for Eltropy is much better and user friendly compared to our last provider. The overall layout of the system is very pleasing to the eye and very simple to navigate. When you dive into the main messaging area you can easily start a conversion with a member or open a new message.”

“We went live with Eltropy in June of 2021. The adoption by the members has been quick and successful as we immediately started getting text messages on a variety of issues, including inquiries about obtaining a loan.  We have seen the usage go up each week since implementation,” comments Jason Ford, President/CEO of Harvester Financial Credit Union.

“Eltropy is a great partnership for Sharetec because it allows our Credit Unions the power to connect with their members and stay competitive in a world where quick service is so important. This platform is easy to use and comes with so many benefits: workflows, automations, compliance and security all in one,” comments Carrie Heck, Regional Director for Sharetec.

To read the full success story, click here.


Credit unions are having great success with Big Data through the Sharetec system, which helps credit unions grow and be more responsive to member needs. Sharetec big data processing, provides several tools for retrieving and analyzing credit union data including Results, a graphical report writer native to the operating system, and Quick Query, an easy to use intuitive graphical report writer. Additionally, by utilizing ODBC (Open Database Connectivity) credit unions can use popular productivity tools such as Microsoft Excel, Access, Word or Crystal Reports to easily create marketing materials and reports.

Some credit unions utilize Sharetec as a marketing tool to market new products and services to current members. Elizabeth Olson, Marketing Coordinator at Harvester FCU states, “The Results tool is very easy to use and offers a variety of opportunities to market to our members. We can target members who do not have Overdraft Protection for everyday debit and ATM transactions. We have also increased our overall percentage of opt-ins for members that qualify. Sharetec Results is a great tool to grow credit unions by providing pertinent data at any given moment for different marketing campaigns. This is something every credit union should be using.”

To read the full success story, click here.


Before converting to Sharetec, Winnebago Community Credit Union (WCCU) asset size was around $15,000,000. Since converting to Sharetec over 20 years ago, WCCU has had remarkable success growing their asset size to more than $140,000,000, including a huge increase in their loans. This growth brings them to an incredible asset size increase of 830%.

Tony Tiede, President of WCCU, comments, “Sharetec has provided efficient and effective software and support over the last 20 years. Our goal is to continue to grow aggressively by “Helping Make our Members Dreams Come True” with Sharetec as a major partner.”

To read the full case study, click here.

Members are getting even pickier with their standards of service excellence…

Modern technology and instant communication social and retail platforms have conditioned your credit union members to expect instantaneous results. People – you, me, your members – have lost the ability to wait. Tweets, Instagram, and texting require no patience and they provide users with immediate gratification. And people have come to expect the same from the institutions they bank with.

It’s no longer enough to give members amazing service and competitive rates. Now they want all of that, but they want it yesterday. And if they’re not getting that from their credit union, they’ll look elsewhere.

Empowering your MSRs with fast access to information and streamlined processes, you’ll make their lives at work easier. Leaving them with more opportunity (and energy) to solve member problems and inquiries fast and well. We’ve rolled all the tools your employees need to handle day-to-day operations into a simple interface that equips them with automated tasks and encourages cross selling. The resulting increase in speed and accuracy increases the ROI of your system – and your staff – without sacrificing the integrity of your service.

At Sharetec, we develop core processing solutions with two goals: make it smarter and keep it simple. Our system is scalable to meet the needs of credit unions of every size — all while providing a user interface that greatly reduces training time and the need for day-to-day support. Most importantly, we are committed to delivering excellent ROI and lower cost of ownership so you can stay on the cutting edge of technology without cutting into your bottom line.

A Non-Interest Revenue Stream: Tiered Courtesy Pay

Are you looking for a non-interest revenue stream? Well, Sharetec’s Tiered Courtesy Pay is the right fit for you! Credit unions rely on non-interest income as a reliable source of revenue. Tiered 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.


Our standard 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. It also offers the credit union the ability to offset the cost of processing and monitoring overdrafts and provides a cushion (revenue stream) that is used to offset potential loses. The end result of implementing a Tiered Courtesy Pay feature is a fee structure that is fair to both the credit union and the member. Contact Sharetec to find out more today!

Is it Time to Go Digital?

Some 78% of financial executives think their work is going to change over the next five years because of new digital business trends, says the Deloite Center for Financial Services Banking Outlook Report. Members now expect to interact with a credit union the same way they order groceries or pizza. These consumers want to head into a branch or hit digital channels that can provide instant gratification. One of the trends that is shaping the digital landscape for credit unions into 2021 is moving to the cloud.

While the digital forces drastically changed industries around them, the financial sector seemed protected from the chaos. Vertically integrated business models seemed to insulate them from external forces, and banking regulations made it nearly impossible for competitors to get into the game.

But the digital tide financial executives thought they’d outpaced is now rolling in. It is coming in the form of rising customer expectations, unexpected competition, and the evolution of the platform economy. All driven by digital technology. According to a study from NNT Data, 9 in 10 financial services executives think this is the year for a full-scale digital transformation. Financial institution leaders are done investing in just bits and pieces here and there. Instead, they’re favoring a fundamental change in technology and process.

Members are demanding service excellence through a host of digital channels. Your core and member services platforms need to be agile enough to deliver and then scale. Sharetec can help! Contact us today!


Credit union members have a very different financial journey from that of customers of a standard bank. They want to feel a part of the business that they trust with their money. They want a different level of engagement and sense of ownership.

Adoption of mobile banking by consumers has been on a slow but steady increase for more than a decade. The rise of COVID-19 forced people of every age and social demographic to shelter-in-place, which in turn has caused mobile banking usage to soar. The need to manage and move money easily, while doing so remotely, has significantly changed consumer behavior.  What does this mean for credit unions?

For years, digital and mobile banking technologies have been considered a “nice to have” for credit unions. But now, these technologies have changed from being a “nice to have” to a “must have.”

This gives credit unions an opportunity to revisit their approach to member service. The most effective solutions to these challenges will be ones that put consumers first, in a way that enables credit unions to remain distinct and retain their core values. Sharetec has a myriad of products from Home and Mobile Banking to Remote Signatures that enable credit unions to remotely provide the connection and funds management that they have come to expect. To learn more, contact us at .


Credit unions are investing billions in security and compliance, and it’s not looking to slow down over the next year.

According to CUTimes, identity crimes are modern-day bank robberies, and highly profitable ones at that. Once a cybercriminal is in possession of a member’s personal data, it can be used over and over in various combinations. Even though investments in information security products and services have been on the rise, cybercriminals are still attacking any organization they can to gain access to valuable consumer data.

Financial services companies get attacked over a billion times each year. That breaks down to about 30 attacks every second. System glitches were tagged as the culprit for 27% of breaches and 23% were the result of negligent employees. In sophisticated automated attacks, cybercriminals imitate human interaction by running advanced software scripts that display common browser or application behavior, making the attack harder to detect. Which is why Sharetec provides “real-time” fraud monitoring. Our fraud system is actively on the look-out for suspicious activity.

Sharetec’s Fraud Alerts will notify you if a fraudulent situation is uncovered, whether it be during a member search, a member transaction, new member enrollment, new share or loan openings, or batch postings.

This year, as you invest in more (and better) technology, make sure you reach out to Sharetec!


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.