Volume 59 - Bradford Scott Data Corporation



Volume 59 - Bradford Scott Data Corporation
data corporation
The latest technology
More products and service
Faster deployment of new products
NEWSLETTER what’s inside...
Volume 59 1st Quarter 2014
18,000 Member LorMet Selects Sharetec
LorMet Community FCU was founded in 1936 and currently serves over
18,000 members and more than $145 million in assets. LorMet is comprised
of five full-service branch locations throughout Lorain County, Ohio, which
include its headquarters in Amherst, as well as locations in Elyria, Lorain,
Oberlin, and Wellington.
LorMet saw the Sharetec solution as allowing them to better serve their
valued membership now and into the future with innovative and
convenient financial products and services. Ultimately, LorMet selected
Sharetec because it offered the best fit for their needs.
Daniel Cwalina, President/CEO, LorMet Community FCU, explained,
“We chose Sharetec due to added efficiencies through third-party
integration, streamlined processes, and paperless solutions. The membercentric organization and enhanced reporting capabilities provide effective
solutions for serving our membership and tracking activity. Our primary
goal in the selection process was to not only align ourselves with a
processor but a partner that would be responsive to our goals and
ISU CU Successfully Converts to Sharetec
Founded in 1960 to serve employees of Illinois State University, ISU Credit
Union has since grown into a full service institution with more than 10,000
members and $90 million in assets. Located in Normal, IL, ISU Credit
Union currently serves anyone who lives or works in McLean County.
Thom Ewen, President of ISU Credit Union remarks, “The conversion
team at Sharetec vigorously worked around the clock to make sure all
tasks were completed to insure a successful conversion. Conversions are
time consuming and can become extremely stressful, but the Sharetec team
took away the stress and made it happen. We are looking forward to what
Sharetec will bring ISU Credit Union and working with such a dedicated
“With their projected growth, we are excited to help ISU Credit Union.
Having a smooth conversion builds confidence with the members and
allows the staff to implement much of the automation,” commented Matt
Isger, Regional Director for Bradford-Scott Data Corporation, a Sharetec
A Switch to Service Bureau 2
Members “First” Community CU
switches to Sharetec’s Service Bureau.
Remote Backup w/ Images 2
Remote Backup with Images proves
great success for credit union.
Recission Rights Update 3
Truth-in-Lending Act rescission rights
have been in the news again.
New Feature, Email Notification 3
Sharetec has instituted an email to
keep you updated.
Annual Users Conference 4
Take a look at what will be at this year’s
Office Source 4
A one-stop shop for all your credit
union’s paper and supply needs.
Customer Survey Score 5
The 2013 results are in and we are
pleased with the results.
Software & Hardware Times 5
Our 2013 average Software and
Hardware Response times are in.
Tip of the Week 6
Tips on automatic transfers, best
practices, archived files, and more.
Sharetec’s Service Bureau 7
Keep your data safe by taking it out of
the credit union and into our hands.
Employee Spotlight 7
Highlighted this quarter is Audra
Schoenauer in Conversion.
Webinar Schedule 8
Our goal is to provide exceptional
training to you and your staff within the
comforts of your own office.
contact us...
1001 Chestnut Hills Pkwy . Suite 1 . Fort Wayne, IN 46814
Phone (260) 625-5107 Fax (260) 625-6248
www.bradfordscott.com . [email protected]
MFCCU Switches to Sharetec’s Service Bureau
Located in Quincy, IL, Members “First” Community Credit Union (MFCCU) is a nonfor profit member-owned financial cooperative serving those who live or work in Adams,
Brown, Pike, or Schuyler counties in Illinois, as well as immediate family members. With
over $42 million in assets, MCCU serves over 5,000 members.
Teri McEwen, President of MFCCU, remarks, “Our credit
union considers member data security as a top priority, so
we wanted to get the member data out of our office and
over to the Tier 3 Sharetec Service Center, which has the
many levels of security we desire and the redundancy for
disaster recovery we need. We’ve seen this service center
trend coming and feel this will allow us to focus on growing the CU.”
“Sharetec’s Service Bureau is a Tier 3 data center, designed to give credit unions piece of
mind, as well as lowering their initial investment. They can focus on their membership
and let our dedicated professionals at Sharetec do the heavy lifting,” comments Matt Isger,
Regional Director for Bradford-Scott Data Corporation.
Around 50% of our Sharetec customers participate in daily discussions using our free
e-mail list serve, [email protected] To be a part of [email protected],
please e-mail Jason Pesetski at [email protected] to sign up today.
Remote Backup with Images Proves Success
by: Dawn Gerber
A sometimes overlooked but essential product that Sharetec offers is the Remote Backup with
Images. The Remote Backup with Images automatically sends member data and all archived
documents to Bradford-Scott’s secure servers once or multiple times daily.
This recently proved to be a critical product at one credit
union where a fire broke out and the roof caught on fire.
The staff was able to focus on ensuring that no one was hurt
as they knew their member data was safe and secure with
their Remote Backup with Images services.
Keane Kulak, Regional Director for Bradford-Scott Data
Corporation, a Sharetec provider, comments, “Any kind of
disaster, small or large, can cause a credit union a great deal
of hardship. This product gives them peace of mind that
their data and images are all backed up.”
If you are interested in acquiring peace of mind for your own credit union, please contact your
sales representative.
Update on Recission
Truth in Lending Act rescission rights have been in the news again. In an interesting case from the federal
district court in Utah, the court addressed whether a creditor complied with the Regulation Z “clear and
conspicuous” requirement by using the Reg Z model form regarding rescission rights. In this case, the
consumer received his notice of rescission rights on a Wednesday.
The notice indicated he had “3 business days” to rescind. The final
day to rescind, therefore, was Saturday, if Saturday was a “business
day,” or Monday if not. When the debtor attempted to rescind on
Monday, the creditor indicated the rescission came too late.
As it turns out, Reg Z specifically provides that for purposes of
rescission, Saturday may be a business day. The debtor argued the
notice could reasonably be read as having more than one meaning,
and therefore was not clear and conspicuous. The creditor asserted
the notice was legally compliant because it was a model form published as part of Reg Z. The court sided
with the consumer, stating that the meaning of the notice could not be determined from its face, and thus it
was not clear and conspicuous.
A federal district court in North Carolina addressed when rescission is accomplished. The debtor in this
case gave notice of rescission, which the creditor refused to honor. Years later, the debtor argued in court
that he had timely rescinded. The court held that merely giving notice of rescission does not complete the
process of rescission. Rather, if a creditor wrongly refuses to honor the notice, the consumer must timely
bring suit to enforce the right. Here, the debtor was too late.
Submitted by Anne E. Simerman, Esq., Barrett & McNagny LLP, 215 East Berry Street, Fort Wayne, IN,
46802. This article is provided as a general informational service. It should not be construed as imparting
legal advice on any specific matter.
New Feature Email Notification
by: Sean McMillen
Automation is, and always will be, an important part in making your employee’s jobs much easier. We
are always looking at ways to automate your credit union and one of those ways is to alert users
through email of all that is happening.
Before, you would have to wait for your vendor to let you know
if they did not receive a return file or if you noticed your ACH
or Share Draft scheduled task did not process correctly, then
you would call for support. Now, we have made this process
smoother with an email to let you know when your ACH or
Share Draft files have been downloaded at the correct time.
We have also added an email alert to let you know when your
return files, both Share Draft and ACH have been uploaded. We know how important these files are to
you and your members, so through these improvements, we hope to take the guess work out of your
As always, if you have any questions about these email alerts, please call us. We would be glad to
answer any questions.
August 18th - 20th, 2014 . Fort Wayne, Indiana
This year at the 18th Annual Sharetec Users Conference...
• Workshops from a collection of topics relevant to your credit union.
• Hands-on labs allow users to sit at a computer and test drive new features.
• Enjoy credit union related speakers and visit with vendors sure to enlighten with ideas to
grow membership and develop business strategies!
For more information, contact Carrie Heck at [email protected] or visit
Bradford-Scott Office Source is a one-stop shop for all your credit union’s paper and supply needs!
• Laser Check Stock
• Continuous Vouchers
• Continuous Check Stock
• Printer Toner
• Coupon Paper
• Backup Media
• Blank Envelopes
• Statement Paper
• Custom Envelopes
• Full Color ART Brochure
• Full Color Online Services Brochure • Wallet Sized ART Cards
• Receipt Rolls
• And much more…
Bradford-Scott Office Source offers backup tapes, toner cartridges, statement forms, receipt rolls, laser checks,
and envelopes. We can also give you a free quote on any custom order you may have. We have competitive
pricing and quick turnaround time on all orders and as always, your satisfaction is our top priority.
Don’t forget that Bradford-Scott Office Source offers fully customizable Home Banking Brochures and
Audio Response Cards! They are a great way to give your customers a quick reference guide to your
Home Banking options and action codes for your ART system.
First time customers get 10% off your first order (Expires 4/30/2014)! Call Michelle Beaman today for a free
quote! Phone (317) 713-2065 Email [email protected]
Customer Survey Score In the fall each year, Bradford-Scott surveys customers to gauge
their satisfaction with our service. From service to sales and friendliness to effectiveness, BSDC strives to
maintain a platinum standard in the industry. We are grateful to you for taking the time to respond. The 2013
results are in and we are pleased that you ranked us an average of 9.24 on a 1 to 10 scale. We appreciate your
Customer Center Download training videos, best practice guides, procedures, or other documents
from our Customer Center website. Hands-on users are jumping on this site on a daily basis to get the
information they need to drive their Sharetec System in the most efficient way.
Customer Center can be accessed at www.bradfordscott.com/login_cu.php. A non-disclosure agreement
must be completed in advance of receiving the login information for this “customer only” site. If you are
interested, please contact Jason Pesetski at [email protected] or call (260) 625-5107 for the
sign-up form.
Software & Hardware Response
Great support is important. Every call, every problem is an opportunity to make our business better.
We know how important prompt services is and we strive to make it happen. Our 2013 average Software
Response Time was less than 8 minutes.
Our technicians make sure your system maintains high availability at all
times and when things do go wrong, we get you back online fast. Your
system is the backbone to your credit union and we know that you depend
on your system to give you the information you need to make critical
decisions. Our 2013 average Hardware Service Response Time was less
than 4 minutes.
tip of the week
These TIPS are great for tellers, loan officers, or any Sharetec user! These helpful tips include hints,
procedures, best practices, and miscellaneous items. To sign-up to get this weekly e-mail, please
e-mail Megan Johnson at [email protected] with your name and e-mail address or
like us on Facebook by searching for Bradford-Scott Data Corporation, a Sharetec provider.
Listed below is a sample of tips e-mailed or posted in the past that are still useful today!
. Dividend Recalculation: If a Share Product is set
to “Recalc” for the Dividend ReCalc method, it will
recalculate dividends at the dividend pay rate for the
entire period. For example, if the rate is changed
from 5% to 6%, then the entire pay period will pay at
6%. If the Share Product is set to “No Recalc” for the
Dividend ReCalc method, then dividends will calculate
each month at whatever rate was set at Month End
processing and no recalculations for previous months
will take place when rates are changed.
. Processing Club Checks: Back Office Workspace -
Club Checks. This process should not be run at month
end but at the beginning of the month.
Complete the following steps to issue the club checks and transfer amounts from club accounts:
Sort Order – Select to sort by Member # or Last Name. Account Type - Select the Club Check
Account Type that will be processed. Reduce to Zero – Mark this option to disburse account
funds to take account to zero balance. If unmarked, it will only reduce account to minimum balance
Post – Mark this option to post changes to member accounts. Note: It is recommended that this
process be run first WITHOUT the Post option marked to ensure that the issued checks and
transfers look correct.
Print Checks – Mark this option to issue the checks. Users will still need to go to the Back Office
Workspace/Batch Checks to print the actual checks.
Transfer Funds – Mark this option to enable any transfers that were marked for member accounts
in the CD Renew field.
Bank Number - Input the Bank Number where the checks will be issued from. Once these steps
are completed, run the report without the Post option marked. Review and verify the report
results for accuracy. If everything is correct, run the process again and mark the Post option.
. GL Account Balance: If a general ledger account balance is not showing up in the proper
category on the financial statement, the account may be in the wrong grouping. To change the
account group that the balance is included in, go to the Accounting Workspace/General Ledger/
Account Information. Then, under the Properties of the GL Account, change the group. Also verify
that the GL account is set up with a Frequency Code that is consistent with other GL accounts. If
different, totals may not be correct.
Bradford-Scott Social Media
Connect with us on Facebook, Twitter, LinkedIn, and Wordpress
for news and product updates.
Your input is always important to us and we’d love to know
what you think of our social media pages, products, tips or
questions. So please check us out and leave a comment at
one or more of our social media sites.
Facebook: Bradford-Scott Data Corporation
Twitter: @bradfordscott_1
LinkedIn: Bradford-Scott Data Corporation, a Sharetec provider
Blog: www.creditunioncoresystem.wordpress.com
Sharetec’s Service
by: Matt Marra
Physical security, network security, and data security are all highly scrutinized in today’s ever
changing environment. One of the easiest things you can do to eliminate data from the list of things you need to keep secure is to take your data out of your credit
union. Many Sharetec customers are feeling less pressure from
auditors by moving to our Service Bureau hosted solution. This
puts the responsibility of keeping the data secure in our hands and
out of yours. Our data center is heavily monitored and physically
secure with plenty of safeguards in place to keep unauthorized
access out. This also takes the nightly backups out of your hands
which saves you time and liability.
Another great feature is disaster recovery planning. It is simple with our service bureau, you just
need to set up a laptop anywhere you can get access to the Internet and we can get you set up to
access your members’ data in a pinch. There are many benefits and if you have any questions, please
feel free to get with our hardware team for technical questions or your sales person if you want to
talk about scheduling a move to our hosted solution.
employee spotlight is on Audra Schoenauer
Audra is a Conversion Analyst with Bradford-Scott. Audra’s favorite part of her
position is that she is never bored because every credit union is different and brings
a new experience. Audra enjoys spending time with her 6 year old
son and husband, as well as catching up on a good book when she
finds the time. Living in a small town in Ohio, Audra enjoys meeting
new people and traveling to new places. Between traveling for work
and with her family, Audra’s goal is to visit every state.
After Hours Pager Support If pager support is needed during the pager hours listed
below and one of the following situations applies, there will be no charge for the pager call:
1. Issue would prevent your credit union from opening for business and can be resolved remotely.
2. Issue occurs during normal credit union business hours and can be resolved remotely.
Normal Pager Support
Monday through Friday:
7:00 a.m. EST to 8:00 a.m. EST
5:00 p.m. EST to 9:00 p.m. EST (6-9 p.m. for Software)
9:00 a.m. EST to 1:00 p.m. EST
$180/hr for normal pager hours, if billable.
Month-end Support
No pager. Office hours extended until 9:00 p.m. EST
Extended Saturday pager hours:
1:00 p.m. EST - 5:00 p.m. EST
$240/hr for extended Saturday pager hours, if billable.
Calls placed outside pager hours will be returned at 7:00 a.m. EST on Monday through Friday or 9:00 a.m.
EST on Saturday. If the page cannot be handled remotely, charges for travel and labor will apply. If page is
deemed billable, it will be subject to a minimum 1-hour charge.
Scheduled Transfers
04/08/2014 @ 10:00 am EST
04/10/2014 @ 2:00 pm EST
Vault Balancing
04/22/2014 @ 10:00 am EST
04/24/2014 @ 2:00 pm EST
Variable Rate Change Module
05/06/2014 @ 10:00 am EST
05/08/2014 @ 2:00 pm EST
Accounts Payable Module
05/20/2014 @ 10:00 am EST
05/22/2014 @ 2:00 pm EST
Check Reconciliation Module
06/10/2014 @ 10:00 am EST
06/12/2014 @ 2:00 pm EST
Ultimate Checking
06/17/2014 @ 10:00 am EST
06/19/2014 @ 2:00 pm EST
Quarterly Webinar Schedule
Our goal is to provide exceptional training to you and your staff within
the comforts of your own office. The process is quick and easy! Simply
e-mail Jason Pesetski in the Training department with each user name
and e-mail address at [email protected] He will send out a
confirmation with complete instructions for joining each webinar, as
well as a list of training materials that need to be downloaded prior to
the webinar. Webinar classes are small and are on a first come/first serve
basis. They will start at the time listed each day in Eastern Standard Time
and will last approximately one hour. Classes fill up very quickly, so
please e-mail Jason at [email protected] to sign up! If you
have questions, feel free to call Jason at 260-625-5107.
Please note If you sign up for a class and CANNOT attend, we ask that
you notify us at least 24 hours in advance of the webinar start time so that
we may give away that spot to someone else. There is a $25.00 cancellation
fee if you do not provide notification in advance and miss the webinar.

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