MONETT, Mo., Aug. 31, 2016 /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 SESLOC Federal Credit Union has selected the Symitar Episys® core system for in-house processing.
SESLOC Federal Credit Union, located in San Luis Obispo, Calif., has undergone phases of significant revitalization over the last four years, including recruiting the first new CEO in 48 years, building a new headquarters, gaining a charter expansion with new branches, and now establishing a new core partnership. The credit union made the decision to replace its current core platform of nearly 30 years with Symitar's Episys based upon its history of stability and reputation of delivering enterprise-wide efficiencies.
SESLOC's president and CEO, Geri LaChance, said, "We're making a lot of infrastructure improvements right now: people, facilities, and technology. With a strong team in place and significant local market share potential, it's the perfect time to welcome a new core and uncover opportunities previously unrealized."
She added that with Episys, SESLOC will streamline branch operations including member identification and new account openings, a process LaChance expects will be done in one-third of the time currently required. Episys will also equip the credit union to better support small business deposits and business lending, meeting the increasing number of requests coming frequently from businesses who are attracted to SESLOC's 75 years of stability in its Central Coast community.
The team at SESLOC underwent a thorough due diligence process before determining Episys as the right fit for its growth goals and product needs. And with the degree of transformation occurring at the credit union, it was imperative that the system of choice would provide a stable, flexible backbone to support the credit union for years to come.
Ted Bilke, president of Symitar, added, "SESLOC Federal Credit Union is well positioned to realize the benefits of implementing Episys, including nimble technology that encourages taking new products to market faster, and the openness to adopt and tightly integrate complementary solutions with ease. Now, SESLOC will have the same sophisticated platform as hundreds of other Episys credit unions, one that will support the changes it is currently undergoing and lay the foundation for a successful future."
Symitar, a division of Jack Henry & Associates, Inc. (NASDAQ:JKHY), is a 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 solutions serve almost 10,600 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking® supports banks ranging from community banks to multi-billion dollar institutions with information processing solutions. Symitar® is a 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. 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.