Press
Quorum Federal Credit Union selects Symitar’s Episys System
$782 million credit union seeks proven, flexible, sophisticated technology platform
MONETT, MO (October 30, 2013) — Jack Henry & Associates, Inc. (NASDAQ:JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its Symitar® division announced today that $782 million Quorum Federal Credit Union has selected Episys® as its in-house core processing solution.
According to Bruno Sementilli, president and CEO of Quorum Federal Credit Union, “We are proud of the fact that our members are almost three times more likely to recommend Quorum than customers at other financial institutions.* They deserve and expect access to contemporary, highly competitive financial products and services as well as an exceptional service experience every time they engage with our credit union. Consistently delivering these mission-critical components of our business strategy and our success requires a proven, flexible, sophisticated technology platform.
“We conducted an extremely detailed evaluation of core systems that literally matched our business and operational requirements against system functionality. Our goal to better leverage and optimize information about more than 50,000 members to support marketing and growth opportunities also generated very aggressive integration requirements. Our process clearly identified Episys as the system most functionally compatible with our specific requirements and Symitar demonstrated that it wants to be our long-term technology partner.”
According to Ted Bilke, president of Symitar, “This credit union’s due diligence was one of the most comprehensive functional evaluations that we have ever participated in. Quorum Federal Credit Union has a very experienced and forward-thinking staff that took the responsibility to identify the best solution for their exact requirements extremely seriously. They constantly challenged us to demonstrate that Episys and our integrated complementary solutions provide the functionality and flexibility to support their long-term business strategy. Based on the depth of this credit union’s evaluation, we consider this addition to our client roster an especially rewarding endorsement of Episys and Symitar.”
About Quorum Federal Credit Union
Quorum Federal Credit Union is a leading credit union serving over 50 companies including Kraft Foods, Avon, Ogilvy, and Altria, with over 50,000 members and $782 million in assets. Managed by its members with an elected, all-volunteer board, Quorum has a 79-year history of returning profits to its members in the form of leading industry rates, services, and financial products. Additional information is available at https://www.quorumfcu.org/.
* Data from “Net Promoter(c) U.S. Consumer Benchmarks 2012” by Satmetrix and “Quorum Federal Credit Union Net Promoter Research, Findings May 2012” by Rothstein-Tauber Inc.
About Symitar
Symitar, a division of Jack Henry & Associates, Inc. (NASDAQ:JKHY), is the leading provider of integrated computer systems for credit unions of all sizes. Symitar currently serves more than 750 credit unions as a single source for integrated, enterprise-wide automation and as a single point of contact and support. Additional information is available at www.symitar.com.
About Jack Henry & Associates, Inc.
Jack Henry & Associates, Inc.® (NASDAQ: JKHY) is a leading provider of computer systems and electronic payment solutions primarily for financial services organizations. Its technology solutions serve more than 11,300 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking® supports banks ranging from community to mid-tier institutions with information processing solutions. Symitar® is the leading provider of information processing solutions for credit unions of all sizes. ProfitStars® provides best-of-breed solutions that enhance the performance of domestic and international financial institutions of all asset sizes and charters using any core processing system, as well as diverse corporate entities. Additional information is available at www.jackhenry.com.
Statements made in this news release that are not historical facts are forward-looking information. Actual results may differ materially from those projected in any forward-looking information. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information. Additional information on these and other factors, which could affect the Company’s financial results, are included in its Securities and Exchange Commission (SEC) filings on Form 10-K, and potential investors should review these statements. Finally, there may be other factors not mentioned above or included in the Company’s SEC filings that may cause actual results to differ materially from any forward-looking information.