Source: Jack Henry & Associates
Jack Henry & Associates, Inc. (NASDAQ:JKHY), a leading provider of integrated computer systems and ATM/debit card/ACH transaction processing, today announced that its Symitar subsidiary earned eight new credit union clients during its third fiscal quarter, ended March 31, 2005.
Each of these new clients will be converting to Symitar's Episys system.
San Antonio Federal Credit Union, a $1.7 billion organization and the fourth largest credit union in Texas, is among the credit unions that will be converting to Episys. According to Dale Marroquin, first vice president of SACU, "Technology plays a mission-critical role in every credit union's ability to continually enhance our member service and convenience, aggressively and successfully compete, increase operating efficiencies and reduce operating costs. With the expert assistance of Cornerstone Advisors, we conducted an extensive evaluation of the leading core processing solutions and the companies that provide them, and determined that Episys is the robust and cost-effective solution that meets our technology requirements, and Symitar provides the service levels we expect. Our visits to existing Episys users confirmed the competitive distinctions we had identified."
Bruce Cormode, president of Symitar, said, "We welcome the addition of these credit unions to our client roster and believe Episys is ideally suited to meet their distinct near and long-term technology requirements. We recognize every new client as further validation of our overall business approach and the satisfaction among our existing clients, which has become instrumental in almost every competitive evaluation we participate in."
Jack Prim, CEO of Jack Henry, said, "Each new client literally entrusts its ability to attract, serve, and retain its members to Symitar and the Episys system. This confidence our long-time and new clients have in our company, our technology, and our support infrastructure is extremely rewarding and a fundamental reason we continue to gain market share. Episys is now automating more credit unions with assets exceeding $25 million than any other system, including 27 of the nation's 99 credit unions that have more than $1 billion in assets."
"We believe there are two primary reasons why Symitar continues to expand its industry leadership. Episys is a powerful, competitively distinct platform that provides highly customizable enterprise-wide automation. And our company is driven by a fundamental commitment to provide each client - large and small - with outstanding service," concluded Kevin Williams, CFO of Jack Henry.