Credit Union & Core Processing

Check Management

Check 21
Check 21 enables your credit union to electronically transmit images rather than circulating paper checks for reimbursement. Physical check processing costs are rapidly increasing, amounting to nearly twice that of electronic checks. A paper check is physically handled an average 26 times during processing – adding days to the total processing time.

Our solution is certified for all aspects of The Check Clearing for the 21st Century Act, commonly referred to as Check 21, including inclearing receipt, transmission of outgoing cash letter to multiple end points and exception/return processing. The moment an item is scanned, the electronic image is immediately available to your staff from any workstation. In addition, character recognition software is used for fraud purposes to perform both Courtesy Amount Recognition and Legal Amount Recognition (CAR/LAR) on all scanned items.

The Sharetec Check 21 solution has the features and functionality you need to process your items efficiently, accurately, and reliably. Maximize efficiency, improve member service and begin reallocating valuable human resources to other areas of your business with Sharetec’s Check 21. Give your entire staff the tools they need to retrieve, examine, make decisions and answer member inquiries right from their desks.

Core Check Images 
Presenting as much information as possible in an easy to absorb format is critical to servicing your members. For example, one such feature that many home banking products offer is the ability to click on a check number and instantly view an image of that check. Unfortunately, tellers don’t always have that same functionality from within their core data processing system. With Sharetec’s Core Check Images, your staff will be able to offer the same level of service your members are used to receiving online. Core Check Images allows your team to pull up member history from within the core system and click on a check number to display the actual item just like members do via home banking.

Starter Checks 
When your member opens a new share draft account, Sharetec can automatically prepare a supply of laser printed checks, commonly known as starter checks. Businesses tend to be wary of accepting starter checks as payment because the checks don’t look like legitimate checks. Typically, they are completely blank, containing no information about the member and contain check numbers that are typically less than 300. In other words, there is no way by looking at them to know for sure who is the appropriate owner.

For this reason, Sharetec prepares the checks with the actual member’s name, address and MICR number so they look just like a normal check. In addition, you can select the starting check number to eliminate that low check number stigma.

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