Software for credit unions varies widely depending on what services your firm offers as well as what specific needs best suits your company. Your computer operating system comes into play, as either you will need software that works with your present system, or you will have to upgrade the entire system to fit the software. Make sure that the software is network-ready for multiple sharing over departments and branches.

Many software systems will contain information that you don't need so do not pay for options that don't work for you. Select a software system that will grow with your financial institution. Alternatively, upgrading your present software with new functions may be the best option if you have a system that is already working for you. Look for these features when choosing accounting software for credit unions:

1. Purchase the software for credit unions that is right for your institution.

2. Upgrade your existing credit union software to get the most out of your system.

3. Get assistance with your credit union management software.

Action Steps
The best contacts and resources to help you get it done

Find credit union software providers with programs you can use

Software programs come in all shapes and sizes and there is a price tag that goes with that. Check the features of the software you are considering and purchase what your institution needs.

I recommend: Sharetec offers a software suite that includes teller services, members' services, loan processing and accounting. One of the many features includes the member's picture and signature embedded right in their account for instant access. Your members will not wait while the teller verifies their identity. Financial Shared Services Inc offers software packages for small Credit Unions with one to four workstations or software for hundreds of workstations; choose the correct software for your institution.

Choose credit unions software that integrates with the system already in place

If your present software is working for you, consider upgrading it to add a few features that you need instead of replacing the entire system. There may be a small charge to upgrade but this would be minimal compared to replacing the entire system. Find out if the new necessary features are available with your present software. Alternatively, choose a software program that adds these features but integrates with the program in place.

I recommend: Credit Union Software can work as a single or multiple station configuration and they designed it to work with your current computer system. Try the interactive demo to see if this is the answer for you. Strategic Information Technology Ltd. develops and sells Portfolio Plus, which can start as small as you need and then adapt to your growing members list.

Choose credit union software systems that have live customer support

The best software in the world is no good to you if you cannot reach someone to answer questions when that need arises. Software has an online guide but sometimes that is not enough when you run into a difficulty. Choose software systems with live customer support features to get the most out of program.

I recommend: Trinergy offers low cost and high support with its software applications. They will guide you through set-up and answer all your questions. Apex Data Systems offers software that runs on individual PCs, or if you need a larger network, it can run from a server platform. The technical support phone line is listed and available to help you with any issues you incur.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Purchase credit union accounts software from trusted sources. Even though an unknown vendor may sell the software for less, the software may be flawed or worse yet it could contain a virus.