SHAZAM's membership difference

posted by Paul Waltz on Tuesday, January 27, 2026 in SHAZAM Blog

I’ve always said to people you can tell whether there’s a strong and caring community financial institution in a small community within the first ten minutes of being there. When I talk with the people who work at these small-town staples, I hear their challenges about meeting customer demands for technology-enabled services while feeling trapped by vendors whose goals don’t align with theirs.  

SHAZAM^® has always believed in freedom of choice, giving options to those institutions and trying to provide them with a means of being competitive on their own terms. This business philosophy stems from our member-owned business model. Here’s how our membership model works and how it benefits our financial institutions.

What’s SHAZAM’s membership model? 

The SHAZAM member-owned business model is unique to the financial world. SHAZAM is owned by the financial institutions we serve. These financial institutions can apply to become members. Every member financial institution, regardless of asset size, gets a vote. This ensures that everyone has an equal voice in the future of our company and the products and services we invest in. These members also select our board of directors. These directors are representatives from SHAZAM-member financial institutions and provide direction to executive leadership on strategic planning and major decisions on company business.  

Your financial institution is eligible to become a member if you participate in one or more of these programs: SHAZAM digital product suite services, SHAZAM network acceptance and processing services, core bank processing system services, and such other services determined by the board to be part of the corporate programs definition in the bylaws. Contact your SHAZAM Client Executive if you have any questions or are interested in becoming a member.   

The benefits to our financial institutions 

A rising tide lifts all boats. This metaphor is a good description of how SHAZAM serves our members. Here’s a few examples of how that plays out in our day-to-day operations.   

A commitment to customer service 

SHAZAM is constantly listening to our members and giving them opportunities to provide feedback. Members serve on multiple committees who provide directions to our executive leadership team on matters concerning the company and aid in developing and providing approval of the strategic plan, which outlines our long-range goals and objectives.  

SHAZAM also has an advisory council made up of senior staff from our client base of community banks and credit unions who help us shape our products and services to support our mission of strengthening financial institutions. 

Motivated by our members, not profits 

SHAZAM is motivated by our members. They’re essentially our boss. This creates a partnership that isn’t motivated by shareholders or quarterly profits. Not being beholden to shareholders allows our organization to focus on the bigger picture to create sustainable growth and success. Which right there influences how we make decisions, the investments we make and how we reinvest our profits into the products and services our members use every day.  

A commitment to strengthening financial institutions 

Community financial institutions continue to face a constantly evolving industry environment. Choosing partners who put your needs first ensures your financial institution will continue to be an essential resource to your community. 

Being a nonprofit, member-owned and controlled financial services provider allows us to support community financial institutions, seek fairness and equity in the marketplace, and provide the highest quality products and services that support your mission. This structure has, and always will, be our biggest competitive advantage.  

---

SHAZAM, Inc. and ITS, Inc. provide this blog for general informational purposes only. Our blog may be shared by a direct link wherein the content remains as originally presented and has not been altered. SHAZAM, Inc. and ITS, Inc. assume no responsibility for errors or omissions in the contents on the blog. By using this blog, reader agrees that the information published does not constitute nor is a substitute for legal advice which should only be sought from a qualified, licensed attorney.