BOCA RATON FL, June 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 CNBC (as pd. prog) on June 11, 2014 at 11:30pm PST.
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 CNBC (as pd. prog) on June 11, 2014 at 11:30pm PST.
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.”
About 21st Century Television
21st Century Television is an award winning business and health program that is independently produced by MMP (USA), Inc. The show provides its viewers an in depth opportunity to find solutions to the industry problems from some of the top business leaders from across the world. With more than 5,000 companies participating on over 500 shows, 21st Century Television continues to be the premier and targeted outlet for the latest business and health stories. 21st Century Television airs on cable networks to over 100 million potential television households.
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