MONETT, Mo., March 6, 2012 /PRNewswire/ -- 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 American Airlines Federal Credit Union (AA Credit Union) has selected its Episys core processing system to provide enterprise-wide automation. This Texas-based credit union, which has more than $5.6 billion in assets and operates as the ninth largest in the United States, will install Episys in-house during an 18-month conversion and implementation process.
According to Gary Lindsey, AA Credit Union's chief information officer and vice president, "Symitar's Episys system will offer the credit union robust functionality, customization capabilities to deliver product enhancements faster, and the ability to tailor our products and services to better meet our members' needs. While many of the real benefits go on behind the scenes, these advances will definitely translate into an improved credit union experience for everyone. That means increased efficiency, shorter wait times, and better overall personal service for our more than 232,000 member-owners."
The credit union's president & CEO, Angie Owens, said, "This is a big investment in our future. Symitar's excellent customer service ratings demonstrate they are intensely focused on meeting the needs of their customers, just as AA Credit Union is intensely focused on meeting the financial needs of its member-owners. This is a perfect fit."
Brad Aspgren, the credit union's senior vice president of Technology and Innovation, concluded, "AA Credit Union looks forward to converting to the Episys system in approximately 18 months. The conversion will take significant coordination with Symitar and our other credit union partners, but will be transparent and seamless to our members."
Ted Bilke, president of Symitar, said, "It's a privilege to welcome AA Credit Union to the growing Symitar family. We take great pride in our ability to meet the technology needs of diverse credit unions including those with a few million in assets as well as the largest, multi-billion dollar credit unions. The number of Symitar clients with more than $1 billion in assets now exceeds 60 institutions which is more than twice that of any competitive platform. There's no doubt that AA Credit Union will establish itself as one of the leaders in our client community and help us introduce ongoing functional innovations."
About American Airlines Federal Credit Union
Founded in 1936, AA Credit Union now serves the present and retired employees of American Airlines, their family members, and people who work in the air transportation industry. Now in its 76th year, AA Credit Union has more than 232,000 members nationwide and assets in excess of $5.6 billion. As a not-for-profit financial cooperative, AA Credit Union is committed first and foremost to enriching its member-owners' financial well-being through their participation in the products and services of the Credit Union. For more information, please visit www.AACreditUnion.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 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 technology solutions and payment processing services primarily for financial services organizations. Its technology solutions serve more than 11,900 customers nationwide, and are marketed and supported through four primary brands. Jack Henry Banking™ supports banks ranging from de novo 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 highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs. iPay Technologies™ operates as a leading electronic bill pay provider supporting banks and credit unions with turnkey, highly configurable retail and small business electronic payment platforms. 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.
SOURCE Jack Henry & Associates, Inc.
