Lino Lakes, Minn.-based core processing provider Sharetec on Tuesday said Priority Plus Federal Credit Union, Wilmington, Del., plans to change core systems to Sharetec products.
The $17 million CU was chartered in 1935 as Wilmington Postal Federal Credit Union, serving postal employees. In 2016, the management team made the decision to continue to provide service to its legacy membership while expanding its charter to include others in the Wilmington area and beyond. With that came the name change to Priority Plus FCU.
Susan Winward, Priority Plus FCU’s CEO, said the credit union had been with the same core processor for approximately 20 years and decided it was “time for a change.”
“During our lengthy search we looked at several vendors, both large companies and small,” Winward said in a statement. “As it had been such a long time since we had explored core processors, we felt it important to visit with several. We were looking for a solution that would offer advanced technology, security, a robust operating system and excellent client support. We needed all of that plus a solution that would be cost efficient. We feel we have found that partnership with Sharetec. We are excited to begin our new partnership in a few weeks and look forward to the growth Sharetec will help us achieve.”
Sharetec is “Pleased to have Priority Plus FCU as one of our new clients,” said Joseph Reis, the company’s regional sales manager. “The vision for Priority Plus FCU, and that of Sharetec, supports the belief that smaller credit unions continue to play a critical role in today’s financial environment, reflecting the true meaning of what a credit union should be. At Sharetec we are in a position to provide modern, member-facing applications that allow smaller credit unions to compete with larger financial institutions at an affordable price point. Sharetec and Priority Plus look forward to succeeding together as we provide meaningful products such as mobile banking and remote deposit capture to Priority Plus members.”
Sharetec System, a provider of both in-house and service bureau core solutions, serves nearly 300 credit unions after posting 67% growth since 2000.