investor relations

Open, scalable technology grows with credit union to strengthen member service throughout the Pacific Northwest

MONETT, Mo., Aug. 20, 2024 /PRNewswire/ -- Jack Henry™ (Nasdaq: JKHY) is pleased to share that TwinStar Credit Union is continuing its nearly four decade relationship with the company to support its successful merger with Northwest Community Credit Union (NWCU) and facilitate continued growth.

TwinStar and NWCU merged in 2023 to stay competitive, scaling their products and services to over 250,000 members across Washington and Oregon. Operating under the TwinStar name, the merged credit union has $4.3 billion in assets, 36 locations, and employs more than 700 people, making it the fifth-largest financial cooperative by assets in Washington.

TwinStar has experienced significant growth since beginning its relationship with Jack Henry. Since TwinStar became the 27th credit union on the Symitar core in 1987, it has grown from a $50 million credit union to $2.2 billion in assets before the merger. TwinStar attributes its decision to continue its relationship with Jack Henry following the merger to open, scalable technology and strong leadership support.

"Jack Henry's unified strategy gives us the freedom to innovate and deliver value without constraints," said TwinStar CEO Jeff Kennedy. "The unwavering support from their deployment teams and open access to executive leadership have been key to our long-term success. We appreciate Jack Henry's commitment to deliver modern innovation to credit unions and look forward to continuing our collaboration to achieve our long-term growth goals."

TwinStar also cited the ability to be more agile and innovative as key drivers for the decision. "Jack Henry's open technology gives us greater flexibility and optionality to choose the products and features we need to innovate faster and meet the evolving needs of our members," added TwinStar CIO Alan Pitcher. "Their technology positions us to be future-ready in member service, allowing us to attract and stay relevant to the younger generation while thriving in a competitive and consolidating market."

Brynn Ammon, President of Credit Union Solutions at Jack Henry, said the company is proud to continue supporting the combined organization.

"TwinStar and NWCU were both successful credit unions making a multi-generational impact on the communities they serve," Ammon said. "The merger of the two has many benefits, including greater efficiencies and increased capacity for more features and technology advances at scale. We look forward to continuing to provide innovative technology and excellent support. Together, we will work to make an even greater impact on their community."

About Jack Henry & Associates, Inc.^® 
Jack Henry™ (Nasdaq: JKHY) is a well-rounded financial technology company that strengthens connections between financial institutions and the people and businesses they serve. We are an S&P 500 company that prioritizes openness, collaboration, and user centricity – offering banks and credit unions a vibrant ecosystem of internally developed modern capabilities as well as the ability to integrate with leading fintechs. For more than 48 years, Jack Henry has provided technology solutions to enable clients to innovate faster, strategically differentiate, and successfully compete while serving the evolving needs of their accountholders. We empower approximately 7,500 clients with people-inspired innovation, personal service, and insight-driven solutions that help reduce the barriers to financial health. Additional information is available at www.jackhenry.com.

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SOURCE Jack Henry & Associates, Inc.

Analyst Contact: Vance Sherard, CFA, Vice President, Investor Relations, (417) 235-6652, Press Contact: Mark Folk, Director of Corporate Communications, (704) 890-5323