Police and Fire Federal Credit Union Selects Symitar's Episys System
- $4.2 billion credit union selects Symitar based on solid technology and superior usability -
MONETT, Mo., March 20, 2014 /PRNewswire/ -- Jack Henry & Associates, Inc. (NASDAQ:JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its Symitar® division announced today that $4.2 billion Police and Fire Federal Credit Union has selected Episys® as its in-house core processing solution.
According to John LaRosa, CEO of the Philadelphia-based credit union which has more than 217,000 members, "With a growing membership and more than $4 billion in assets, we are the largest credit union by far on our current core system. We had reached a point in our technology life cycle that we needed a core system that could seamlessly support our current requirements and ongoing growth. Based on the findings from our detailed six-month evaluation, we ultimately selected Episys based on three strategic decision points. First, Symitar proved it is a good organizational and cultural fit with our credit union. Both organizations have minimal bureaucracy and a straightforward business approach. We also respect Symitar's sole strategic focus – providing technology to credit unions – which means it does one thing and does it extremely well. Second, Episys provides solid underlying technology and deep functionality that can be expanded with Symitar's integrated complementary solutions as well as open connectivity with third-party solutions. And third, Episys has superior usability from both member and front-office staff perspectives. Additionally, the online and mobile delivery channels are critical to our ongoing success and member satisfaction, and Symitar's proven, fully integrated electronic solutions also positively influenced our decision. We believe the impact of change on our members and our staff will be minimal and well received, and we are confident Episys can support our evolving business requirements for decades to come."
Ted Bilke, president of Symitar, said, "The Symitar team sincerely enjoyed working with Police and Fire Federal Credit Union throughout its due diligence and we are excited to establish a mutually beneficial business partnership with this institution. Symitar is committed to providing the dynamic and advancing technology this credit union needs to securely process financial transactions, automate business processes, and manage mission-critical member and business information. And it is the input and guidance from progressive, growth-focused, forward-thinking credit unions like PFFCU that help Symitar to maintain our industry leadership by delivering client-driven, quality products and services."
About Symitar
Symitar, a division of Jack Henry & Associates, Inc. (NASDAQ:JKHY), is the leading provider of integrated computer systems for credit unions of all sizes. Symitar has been selected as the primary technology partner by more than 800 credit unions, serving as a single source for integrated, enterprise-wide automation and as a single point of contact and support. Additional information is available at www.symitar.com.
About Jack Henry & Associates, Inc.
Jack Henry & Associates, Inc.® (NASDAQ: JKHY) is a leading provider of computer systems and electronic payment solutions primarily for financial services organizations. Its technology solutions serve more than 11,300 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking® supports banks ranging from community to mid-tier institutions with information processing solutions. Symitar® is the leading provider of information processing solutions for credit unions of all sizes. ProfitStars® provides best-of-breed solutions that enhance the performance of domestic and international financial institutions of all asset sizes and charters using any core processing system, as well as diverse corporate entities. Additional information is available at www.jackhenry.com.
Statements made in this news release that are not historical facts are forward-looking information. Actual results may differ materially from those projected in any forward-looking information. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information. Additional information on these and other factors, which could affect the Company's financial results, are included in its Securities and Exchange Commission (SEC) filings on Form 10-K, and potential investors should review these statements. Finally, there may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from any forward-looking information.
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SOURCE Jack Henry & Associates, Inc.
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