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Symitar signs University Federal CU

29 May 2008  |  2113 views  |  0 Source: Jack Henry & Associates

Jack Henry & Associates, Inc. (Nasdaq: JKHY), a leading provider of integrated technology solutions and data processing services for financial institutions, today announced that Episys, the core information processing platform provided by its Symitar division, has been selected by Texas-based University Federal Credit Union to provide enterprise-wide automation.

This credit union, which has more than $900 million in assets and approximately 122,000 members, will implement Episys in-house.

According to Tony Budet, CEO of University Federal Credit Union, "The search for a new technology platform resulted from a strategic planning session in which we identified six critical priorities for our credit union, three of which were technological in nature, prompting a reevaluation of the core system utilized for 18 years. Symitar proved to be a good cultural fit for our relationship-oriented credit union, and we were impressed with the overall functionality provided by the Episys system, as well as the ability to enhance this broad functionality with virtually unlimited customization through its PowerOn feature."

Budet added that members of the evaluation team also attended the users conference hosted by Symitar in 2007 and were very impressed with the satisfaction levels among Symitar's existing clients, as well as the way these credit unions were encouraged to share applications they had developed internally.

Kathy Hooker Burress, president of Symitar, said, "A credit union's decision to literally change the way it does business by installing a new core system is a monumental decision. So each time a credit union entrusts its business to Episys, we consider that to be the ultimate vote of confidence that everyone at Symitar takes very seriously. We sincerely appreciate UFCU's confidence in our ability to support its technology requirements with Episys, our integrated complementary products and services, and our distinct level of client care. We welcome University Federal Credit Union to our client roster, and expect our relationship will be long and mutually rewarding."

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