Jack Henry & Associates Inc. announced that its Symitar division has added six large credit unions (assets of $1 billion or more) to its Episys core base system during the first ten months of its fiscal year ending June 30.
Four of the credit unions are:
- Credit Union of Texas (Dallas, Texas, $1.35 billion in assets)
- Black Hills Federal Credit Union (Rapid City, S.D., $1.1 billion)
- Langley FCU (Newport News, Va., $2.4 billion)
- Affinity Plus FCU (St. Paul, Minn., $1.9 billion)
Two additional CUs have also signed on, but their names could not yet be made public due to ongoing contact negotiations.
“We identified the need for a core partner that could deliver both internal process efficiencies and the technology to better serve our members,” said Eric Pointer, president of Credit Union of Texas. “Episys is simply the best fit for our needs due to its high level of customization and extensive third-party integration. The system possesses a level of flexibility and scalability that can effectively grow with us in the future.”
Five of these CUs will eploy Episys in-house; Affinity Plus intends to run the system via an outsorced environment.
Symitar now has a greater than 40 percent share of the billion-dollar credit union core processing market, Jack Henry noted.
Ted Bilke, president of Symitar, commented that the Episys system continues to “prove its value” for credit unions of all sizes.
The Episys stem, he said, "has the most diverse user base in the market, and is the most widely deployed core platform. While we’ve served a large share of the billion-dollar space for a while now, we are excited to bring more credit unions of this size into the Episys family.”
