Energy People Federal Credit Union of Tabernacle, N.J., has converted to Sharetec’s core processing platform.
Sharetec said on Tuesday that while the $16 million-asset institution began working with the company five years ago, it had spent 40 years with its previous core provider and the credit union’s contract automatically renewed for another five years before the Energy People was able to sever the relationship.
"About a year away from our old contract end-date we started diligently working with the Sharetec team and were invited to attend the National Users Conference in New Orleans last year,” Janice Hughes, CEO of Energy People FCU, said in a statement. “At the conference we were able to speak with other Sharetec credit unions as well as meet and talk with other associates from Sharetec.”
Hughes said that Energy People was ”very impressed” with the Sharetec system.
“Client support was one of the most important reasons we chose Sharetec for our credit union,” she added.
Energy People FCU follows on the heels of New Mexico-based Eddy FCU’s decision to convert to Shartec, which was
Founded in 1960, Energy People FCU serves active and retired employees of Public Service Electric and Gas (PSE&G) and their families.
PSE&G is now a subsidiary of the Public Service Enterprise Group of Newark, N.J.
Energy People posted net income of $17,205 through the first nine months of 2018, a 62 percent drop from the same period in 2017.
