Ownership
SHAZAM’s owned by the community banks and credit unions we serve. Leaders from these institutions use our products and services and make up our board of directors, so every decision is made for the benefit of their business. No matter the size of the institution, they get one vote, which lets us focus on the needs of members.
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Unique Structure
We’re structured as a nonprofit corporation. This isn’t nonprofit in the traditional sense because we do work to earn a profit. It’s what we do with our profits that’s unique. Since we don’t answer to shareholders, we can reinvest those dollars in new technology while keeping costs down to benefit our clients.
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Advocacy
SHAZAM makes it our business to advocate for community banks and credit unions. We represent them in the payments industry, on Capitol Hill, at regulatory agencies like the Federal Trade Commission and the Federal Reserve, on national payments boards and through other committees where it’s important their voices are heard.
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