MONETT, Mo., Aug 15, 2007 /PRNewswire-FirstCall via COMTEX News Network/ --
Jack Henry & Associates, Inc.(R) (Nasdaq: JKHY), a leading provider of integrated technology solutions and data processing services for financial institutions, today announced that California-based Western Federal Credit Union has selected the Episys platform to provide enterprise-wide automation. This credit union, which has more than $1.2 billion in assets and approximately 119,000 members, will install Episys in-house.
According to John Bommarito, CEO of Western Federal Credit Union, "We respect the role that technology plays in our credit union's ability to realize our growth, service, and operational goals. After carefully evaluating our short- and long-term technology requirements and the tangible benefits that a feature-rich core system could generate, we selected Episys for our in-house host system. Based on the results of a comprehensive evaluation, we are convinced that Episys provides the functionality and flexibility that is most compatible with our ongoing technology requirements." With a merger pending between Western and Toyota Federal Credit Union, currently a Symitar client, Mr. Bommarito added, "Episys will be the system for the merged entity and as such, we are anxious to install Episys and begin supporting our members and our business strategy with its superior functionality."
Kathy Hooker Burress, president of Symitar, said, "We are excited to add this progressive growth- and service-focused credit union to our client roster, and to once again expand our presence among credit unions with more than $1 billion in assets. Episys has now been selected by approximately 30 percent of the credit unions with assets exceeding $1 billion. It also is especially rewarding to earn new clients based on the endorsements of our existing clients, evaluations that are as extensive as the one conducted by Western, and the recommendation of credit union professionals that have first-hand experience with Episys and Symitar's commitment to service. Since technology plays a mission-critical role in every credit union's success in today's highly competitive financial services industry, we believe Symitar is uniquely positioned to provide the business tools large and small credit unions need to attract, serve, and retain their members; aggressively compete; and maximize their business strategies."
About Western Federal Credit Union
Western Federal Credit Union is a member-owned financial cooperative that has an enterprise-wide commitment to provide superior service to its membership. Since the 2003 merger of equals with TRW Systems Federal Credit Union, Western is one of the nation's leading credit unions with over $1 billion in assets and over 119,000 members across the country. It has a diverse group of major sponsor companies in its field of membership in industries such as aerospace, airlines, service, retail, and manufacturing. It recently announced that the Board of Directors of Toyota Federal Credit Union, also a Symitar client, has selected Western as its merger partner adding $250 million in total assets and 19,000 members to the Western family.
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 600 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 http://www.symitar.com.
About Jack Henry & Associates, Inc.
Jack Henry & Associates, Inc. (Nasdaq: JKHY) is a leading provider of computer systems and ATM/debit card/ACH transaction processing services primarily for financial services organizations. Its technology solutions, which are now serving more than 8,700 customers nationwide, are marketed and supported through three primary brands. Jack Henry Banking supports banks ranging from de novo to mid-tier institutions with information and transaction processing solutions. Symitar(TM) is the leading provider of information and transaction processing solutions for credit unions of all sizes. ProfitStars(TM) 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. Additional information is available at http://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.
Analysts, Kevin D. Williams, Chief Financial Officer, +1-417-235-6652, or IR, Jon Seegert, Director of Investor Relations, +1-417-235-6652, both of Jack Henry & Associates, Inc.
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