MONETT, Mo., Feb. 6, 2013 /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 today announced that $393 million Nassau Financial Federal Credit Union will install its Episys® core system in-house.
Westbury, N.Y.-based Nassau Financial Federal Credit Union decided to change core vendors when the provider of the system it has used for more than 20 years halted development. The credit union wanted to advance its technology with a platform that was more agile and could better respond to continuously changing market demands. Its executives selected Episys for the system's recognized market leadership as well as Symitar's corporate stability.
Frank Cordano, the credit union's president and chief executive officer, said, "Nassau Financial is committed to providing advanced technology and competitive financial services that meet our members' ever evolving needs. This mission requires that we have a strong, yet nimble core platform. Symitar will meet our needs both as a technology provider and a long-term partner."
With the open infrastructure and flexibility of Episys, Nassau Financial Federal Credit Union will have the ability to respond to changing marketplace and member demands. Episys clients also have access to Symitar's PowerOn Marketplace™, a collaborative environment for its credit union clients to exchange programming solutions and applications, based on Symitar's PowerOn® customization tool, that improve operating efficiency and financial performance. PowerOn incorporates an advanced scripting language and an intuitive interface that IT staff can use to develop custom applications independent of the core code.
According to Ted Bilke, president of Symitar, "The addition of Nassau Financial to our client roster represents an important milestone. Robert Reh, Nassau Financial's chief information officer, is now the seventh, out of 10, credit union executive on the CUNA Technology Council to select Episys. This is a resounding endorsement of the deep functionality and operating flexibility the system provides, as well as its broad industry acceptance. Our organization has more than 25 years of experience with an open system, enabling technology innovators like Nassau Financial Federal Credit Union to work with a trusted partner and easily customize their core platform to meet their unique and evolving business requirements."
About Nassau Financial Federal Credit Union
Founded in 1936, Nassau Financial Federal Credit Union celebrated its 75th anniversary on May 23, 2011 as Long Island's oldest federally chartered credit union. Nassau Financial is a not-for-profit financial cooperative with $393 million in assets serving more than 28,000 members. Nassau Financial is community chartered, serving those who live, work, worship, volunteer, or attend school in Nassau County, as well as members of their immediate families or households. Branch locations include Oceanside, Garden City, East Meadow, and Syosset with more than 4,000 additional offices available through the Credit Union Service Center network and over 28,000 surcharge-free ATMs (including all King Kullen, Costco, and most 7-Eleven stores). Nassau Financial offers savings and IRAs; free checking products including no-fee debit cards and early pay with direct deposit; consumer loans and lines of credit; home financing; electronic and other convenience services including free online and mobile banking and call-24 telephone banking; free financial planning and counseling; and educational seminars. Follow Nassau Financial on Facebook and twitter and on the web at NassauFinancial.org.
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 currently serves more than 750 credit unions 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 11,900 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.
SOURCE Jack Henry & Associates, Inc.