Monett, Mo.-based Jack Henry & Associates, Inc., a provider of technology solutions and payment processing services primarily for the financial services industry, on Wednesday said its Symitar division signed two credit unions for core processing.
VA Desert Pacific Federal Credit Union, a $70 million-asset institution based in Long Beach, Calif., and East Idaho Credit Union, a $268 million-asset credit union based in Idaho Falls, Idaho, selected Symitar EASE, the outsourced delivery model of the company’s Episys core processing platform.
The two credit unions said they opted to outsource with EASE to “eliminate the need to manage hardware maintenance and upgrades.” In doing so, the company said the two CUs gain the support of Symitar in meeting compliance objectives and can become more effective at allocating resources – allowing employees to focus on strategic member-facing activities.
VA Desert Pacific FCU, which serves 5,696 members, said it wanted a core partner with more functionality than its previous provider was able to offer. Management said the credit union ultimately selected Symitar for its “flexibility, openness to integration and easy access to data.”
Christine Wood, executive vice president of VA Desert Pacific FCU, said in a statement, “Knowledge is power; the more information we have about members, the more effectively we can address their needs. We want to be there for our members when they need us, or even before they know they need us. We expect a lot from our core provider relationship, and Symitar has the expertise and depth of power to help us meet our goals.
East Idaho CU said to support its recent and ongoing growth – it currently serves 36,548 members – the credit union needed a core provider that would allow it to “easily expand its portfolio and add valuable products and services.” It After an “exhaustive” search, the credit union reported it chose Symitar for the Episys platform's extensive integration and high levels of customization.
Don West, vice president of information technology at East Idaho CU, said, “While evaluating our different options, we understood Symitar had the best product on the market to help us achieve our long-term goals. With Symitar technology, it isn't a matter of if we can do something, but rather when we can do it. Outsourcing with EASE allows us to forgo the challenges of maintaining hardware, while still allowing us to be in control. With Symitar, the sky is the limit.”
Both credit unions are adding other Jack Henry & Associates products, among them Advanced Reporting for Credit Unions. Jack Henry said ARCU brings together information from multiple sources so credit unions have greater access to more comprehensive data, and a fuller understanding of member behavior. The two credit unions said they will leverage ARCU for an enhanced view of operations, tracking key business indicators and focusing decision makers on areas that need attention.
Ted Bilke, president of Symitar, added, “An increasing number of credit unions are moving to the cloud for the efficiencies, agility, and cost savings it provides. We are actually seeing about half of our new clients choose outsourcing, with existing clients also migrating over each year. With Symitar EASE, credit unions can enjoy the power and flexibility of the Episys platform while benefitting from the expertise and resources that support their long-term growth objectives.”
