Symitar™ Signs Eight Clients to Its Cruise® Core Processing Platform in 60 Days

MONETT, Mo., Oct. 19 /PRNewswire/ -- Jack Henry & Associates, Inc. (Nasdaq: JKHY), a leading provider of integrated technology solutions and data processing services for financial institutions, today announced the addition of eight credit unions to the growing roster of credit unions automated by the Windows®-based, .NET-architected Cruise core processing platform provided by its Symitar division.  

Among the eight credit unions electing to replace existing technology platforms with Cruise during the past 60 days, are Tennessee-based Greater Eastern Credit Union and Mississippi Federal Credit Union.

According to Peggy Brown, CEO of the $45 million Greater Eastern Credit Union in Johnson City, Tenn., "We consistently look for ways to expand our member base and needed an intuitive, robust platform which offers top of the line service that will allow us to achieve that goal. Our previous processor could not provide us the quality of service we deserved, which further supported our decision to convert to Cruise. I look at credit unions as being part of a family and I am excited to welcome the Cruise team into ours."

Marilyn Hobson, CEO of Mississippi Federal Credit Union, said, "Al Windsor started the University Medical Center Federal Credit Union, now Mississippi Federal Credit Union, in 1958 with all cash assets of $1,329.62 kept in a cigar box. Now, we have reached $64 million in assets. The convenience of the Cruise OutLink Data Center™ environment is ultimately what led us to choose the platform for our core processing needs. As we grow, we feel the family of products Cruise offers will enable us to meet our goals now and well into the future."

Ted Bilke, president of Symitar, concluded, "We are excited about the progressive credit unions that are thoroughly evaluating technology and selecting Cruise as the platform that can support their near- and long-term technology requirements. We are also excited about Cruise's increasing market share among small and mid-size credit unions and the cost-effective, growth-enabling, rich functionality it provides."

In addition to the Cruise platform, which is supporting approximately 175 small to mid-size credit unions, Symitar is automating approximately 550 of the nation's largest credit unions with its industry-leading Episys core system.    

About Greater Eastern Credit Union

For over 58 years, Greater Eastern Credit Union has consistently provided quality and secure financial services to its members. The general public has acknowledged the credit union's high standards in personal service by voting GECU the BEST Credit Union in the Tri-Cities.  

About Mississippi Federal Credit Union

Chartered in 1958, MSFCU has instilled the goal of improving the financial well-being of the membership by offering programs and services in the most cost efficient manner, providing convenient methods to serve member needs and educating the membership about financial management.  

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 currently serves more than 700 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 ATM/debit card/ACH transaction processing services 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.

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.