MONETT, Mo., Aug. 21, 2012 /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 it won 28 new core credit union client relationships during the 2012 fiscal year, which ended June 30.
Twenty-four credit unions chose Symitar's Episys® core platform, 14 of which opted to implement the system in an outsourced environment. Three of the new Episys clients have assets in excess of $1 billion dollars, positioning Symitar as the primary technology partner for more than 35 percent of the credit unions with more than $1 billion in assets. Four credit unions selected Symitar's Cruise® platform, three of which opted to implement the system in an outsourced environment.
Texas-based Capitol Credit Union wanted to enhance the delivery of products and services to its members and turned to EASE™, the Episys outsourced solution. The $120 million credit union's CEO, Anne Boatright, said, "Symitar matched our expectations for technology and corporate culture. Episys is rich with timesaving features for our employees that double as member service benefits. It is our belief that Episys is a core system that can, and will, evolve with us over the long-term."
Missouri-based Foundation Credit Union converted to Cruise in June, running it in an outsourced environment. The 2,400 member, $65 million credit union wanted a comprehensive solution from a single provider. Michele Sechler, Foundation Credit Union vice president, explained, "Symitar has allowed us to offer our members new products and services through one partner. We wanted to grow and found in Cruise a core that will grow with us. The system was quick to learn and easy to implement, and is continually being enhanced."
Both credit unions echoed an appreciation of the clear development roadmaps Symitar has for its two core systems. They value Symitar's commitment to continually reinvest in its core and complementary systems to ensure its clients have access to contemporary and compliant functionality.
According to Ted Bilke, president of Symitar, "It is nice to celebrate the new relationships that we began in the 2012 fiscal year, but we are never complacent with our ongoing success. Symitar remains an aggressive core competitor, a leader in technological innovation, and an authority on customer service. We have built an organization and technology platforms that effectively serve diverse credit unions of all sizes, which we clearly demonstrated with our strong sales results in fiscal year 2012."
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 technology solutions and payment processing services primarily for financial services organizations. Its technology solutions serve more than 11,900 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.