MONETT, Mo., April 19, 2011 /PRNewswire/ -- Jack Henry & Associates, Inc. (NASDAQ: JKHY), a leading provider of computer systems and electronic payment solutions primarily for financial services organizations, announced today that MY CU® Services, LLC, a CUSO of Mid-Atlantic Corporate Federal Credit Union, has partnered with ProfitStars® to begin offering its ACH Manager and OnNet™ payments solutions to its corporate credit union partners.
MY CU Services leverages its strong corporate credit union relationships to provide the industry with greater access to the products and services that are key to credit unions' everyday business opportunities. ProfitStars' ACH Manager and OnNet solutions were selected because of their proven results as market leaders and ability to address credit unions' immediate needs with processing efficiency, cost saving initiatives, and fee income stability. Mid-Atlantic Corporate will offer the solutions to its 800 credit union members, as will MY CU Services to its corporate credit union partners.
Drew Kishbaugh, president and CEO at MY CU Services, explained, "Credit unions require competitive payment automation solutions at an affordable price, and ProfitStars is the stable, experienced provider that can deliver on those criteria. Providing its ACH Manager and OnNet solutions to corporate credit unions can further operational efficiencies and performance throughout the industry."
ProfitStars' ACH Manager enables credit unions to automate processing of all outgoing and incoming ACH files as a convenient, fully secure ASP-hosted solution. OnNet solutions deliver configurable online processes for managing payments, settlement, respondent-to-respondent clearing (R2R), electronic data workflow and communications between correspondent organizations and their respondents, the Federal Reserve, and other end points.
David Foss, president of ProfitStars, added, "MY CU Services is bringing ProfitStars' payment solutions to the market forefront, supporting corporate credit unions with strong, reliable technologies to impact their growth and stability. This universal effort on behalf of all corporates provides member credit unions with greater availability to the products and services that they need to compete in today's financial services environment."
As a diverse, global division of Jack Henry & Associates, ProfitStars combines JHA's solid technology background with the latest breakthroughs in four performance-boosting solution groups – Financial Performance, Imaging & Payments Processing, Information Security & Risk Management, and Retail Delivery. Explore the power of ProfitStars-enhanced performance at www.profitstars.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 11,200 customers nationwide, and are marketed and supported through four primary brands. Jack Henry Banking™ supports banks ranging from de novo 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 highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs. iPay Technologies operates as a leading electronic bill pay provider supporting banks and credit unions with turnkey, highly configurable retail and small business electronic payment platforms. Additional information is available at www.jackhenry.com.
About MY CU Services, LLC
MY CU Services, LLC is a wholly owned CUSO of Mid-Atlantic Corporate Federal Credit Union and is a leading provider of Electronic Bill Payment solutions for credit unions, offering secure, streamlined consumer and business electronic bill payment solutions. In addition, the CUSO offers additional payment services including ACH, share draft processing, remote image capture and more. Credit unions are eligible to use these payment services through MY CU Services or by working with one of our corporate credit union partners. Experience the Difference with MY CU Services. For more information, visit MY CU Services' website at www.mycuservices.com.
SOURCE Jack Henry & Associates, Inc.