Press
TruStone Financial Federal Credit Union completes successful conversion to Symitar Core System
– $943 million credit union installs Episys in-house and realizes immediate benefits of a stable, reliable, and easy–to-navigate core system –
MONETT, MO (May 22, 2014) — 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 today announced that Minnesota-based TruStone Financial Federal Credit Union, which has more than $943 million in assets, has completed the in-house installation of the Episys® core system.
TruStone Financial selected Symitar as its primary technology partner based on the company’s solid industry reputation, broad product offering, proven success converting diverse credit unions to Episys, and ongoing product innovation and evolution. They selected Symitar to support its long-term strategic and growth initiatives, create enterprise-wide operational efficiencies, and support its pace-setting and innovative member service initiatives.
According to Stephen Bohlig, TruStone Financial’s chairman of the board, “We were confident when we chose the Episys platform that it would support our long-term business and growth objectives, and that Symitar provides the integrity, stability, and foundation for a long-term business partnership.”
Bob Thompson, senior vice president of information technology, said, “The Symitar implementation team did an exceptional job converting our credit union to Episys and we were elated there were no major issues despite the inherent complexities of a core conversion. Symitar was responsive to our aggressive implementation timeline and seamlessly supported our 10-month conversion cycle. The Symitar team was also critical to the simultaneous and successful conversion of more than a dozen complementary solutions. In the months since converting to Episys, we have experienced the benefits of a stable, reliable, and easy–to-navigate core system.”
CEO of TruStone Financial, Tim Bosiacki, concluded, “While there are some credit unions that still consider technology as the backroom necessity they need to process financial transactions and manage their member and business information, we consider technology as an important point of our competitive distinction and critical to our ongoing success attracting, serving, and retaining members in today’s very competitive, convenience-driven business environment. We now have the vision to propel TruStone Financial into the future and the technology to get us there. We look forward to a long and successful relationship with Symitar and Jack Henry & Associates.”
Ted Bilke, president of Symitar, said, “Our fundamental goal for every core conversion is to exceed our clients’ expectations with a production-proven, time-tested change management process that is seamless and efficient, empowering for the credit union’s staff, and transparent to its members. We want every credit union we convert to realize immediate increases in efficiency based on the user-friendly nature of the system and the comprehensive training we provide. At Symitar, we have a company-wide focus on delivering contemporary products, methodically implementing them based on our proven process and best practices approach, and supporting them long-term with exceptional service. We are confident these three tenets of our ongoing success will enable TruStone Financial to realize strong returns on its investment in Episys and the trust it placed in Symitar.”
About TruStone Financial
TruStone Financial is one of the fastest growing credit unions in the Midwest with assets in excess of $943 million and more than 85,000 members worldwide. There are 13 branches across Minnesota and Wisconsin. The credit union is headquartered in Plymouth, Minnesota. More information can be found at TruStoneFinancial.org.
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 has been selected as the primary technology partner by more than 800 credit unions, serving 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.