Hudson Valley FCU chooses Symitar for core conversion

Source: Symitar

Jack Henry & Associates, Inc. (JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its Symitar® division announced today that $4 billion Hudson Valley Federal Credit Union has selected Episys® for in-house core processing.

It had been nearly two decades since the New York-based credit union underwent a core conversion. The executive team wanted a platform that would provide a complete view of member relationships, enabling them to improve service and ultimately strengthen those relationships. Hudson Valley FCU also needed to close product gaps, particularly with its consumer and business loans, and look at implementing new pricing scenarios. Episys will enable the credit union to take new offerings to market more quickly and gain new efficiencies through process improvements, just by eliminating many of today's manual processes that create pain points for both employees and members.

According to Mary Madden, CEO of Hudson Valley FCU, "Symitar has met the needs of other large credit unions in our market. We have seen the efficient conversions, successful interfaces, and quality service that follow. This evidence, coupled with the organization's clear technology plan, gives us confidence that the Episys system is the right solution to further accelerate our growth."

Episys' open architecture interfaces with hundreds of vendor applications and offers credit unions the option to independently add-on additional offerings with ease, encouraging rapid adoption of new technologies. Episys boasts the most client credit unions in assets exceeding $50 million on a single platform, and supports more than 40 percent of the U.S. credit unions with assets exceeding $1 billion.

Ted Bilke, president of Symitar, said, "The number of core conversions occurring in our industry indicates credit unions are thinking longer-term about each technology decision. They need systems that work today, and also offer scalable growth and the flexibility to change with market trends. Like so many other large credit unions, Hudson Valley FCU recognized Episys as a growth enabler; a configurable and adaptable platform that will perform however the credit union desires."

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