Primary Financial Relationship
As the new year progresses, credit unions continue to analyze their place in the financial system. What sets them apart? What systems do they have that can support these services?
A myriad of financial options are available to customers and more are created each year. The “2016 Survey of Consumer Finance” written by the Federal Reserve, is quoted as saying, “Americans have at least five accounts with different financial institutions, and of those that belong to credit unions, only 20% see it as their primary relationship.” Becoming a customer’s primary financial relationship is paramount for the continued success of any financial institution including credit unions. A human-centered relationship with members has always been a hallmark characteristic of the credit union industry. Leveraging this characteristic requires that the next stage in development for credit unions will be adopting time saving technologies. This will assist in freeing up their staff to provide the human to human interactions that leads to becoming the member’s primary financial relationship. Sharetec is committed to serving credit unions by providing core processing solutions with two goals: make it smarter and keep it simple.
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