Press
Money Federal Credit Union opts for the Sharetec Solution
LINO LAKES, MN (June 11, 2014) — Money Federal Credit Union (MFCU) of Syracuse, NY has announced that it has selected to replace its current core processing solution with the Sharetec System. Their decision to go with the Sharetec Core Processing System was facilitated by GBS, an owner and distributor of Sharetec.
Always looking to improve products and services for their more than 4,000 members and better streamline their credit union processes, MFCU sought out a fully integrated core processing solution. They wanted a system that was both flexible and cost effective, while enabling them to provide maximum productivity to both members and staff.
According to Bruce LaGrow, MFCU President and CEO, their decision to move forward with Sharetec was an easy one. After learning about its many benefits, Bruce and his Operations Team were convinced that the solution was the right choice for MFCU. They felt that Sharetec was the most user-friendly solution of their choices, and they were impressed by the many features, including Person to Person Payments and Remote Check Capture. However, the clincher, Bruce noted, was that “features that are extras on other systems are included in Sharetec’s core, fully integrated into the system, which made Sharetec definitely stand out.”
About Money Federal Credit Union
Located in Syracuse, NY, MFCU was founded in 1976 by Mutual of New York Life Insurance Company employees who wanted an alternative to the high costs at commercial institutions. While MFCU proudly offers its financial services throughout the counties of Onondaga, Oswego, Cayuga and Madison, they now serve more than 4,000 members worldwide and have $42 million in assets. The Credit Union boasts a “once a member, always a member” policy, meaning that members can keep their accounts for life. Even if members leave the area, they can still access their accounts at one of MFCU’s 5,500 service center locations across the U.S.
About Sharetec
Headquartered in Lino Lakes, Minnesota, Sharetec has established itself as a leading provider of both in-house and service bureau core solutions since its inception in 1993. The company has grown 67% since the year 2000 and now services nearly 300 credit union clients. Sharetec is wholly owned by its distributors and delivers its core solution throughout the U.S. via its four regional partners: Bradford-Scott Data Corporation, Data Systems of Texas, GBS, and Northern Data Systems.