Rock Valley Credit Union Selects Symitar for Outsourced Core Delivery
-- Credit union prepares for big growth with new core platform --
MONETT, Mo., Dec. 8, 2015 /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 today announced that Rock Valley Credit Union has selected Symitar EASE™, the outsourced delivery model of the Episys® core processing system.
For the $90 million Loves Park, Ill.-based credit union, growth is on the horizon. Rock Valley recently launched two new retail locations progressively designed with stand-up teller pods in place of the traditional teller line. These new locations are in high traffic areas and have resulted in an abundance of new deposit accounts and memberships. This accelerated growth, combined with other considerations, prompted the credit union to take a closer look at its existing core provider in order to support both short and long-term growth goals.
Mike Rosek, president and CEO of Rock Valley Credit Union, said, "Our decision to partner with Symitar allows us to leverage technology with more built-in efficiencies that will positively affect every aspect of our credit union, from the front line to the back office as well as member facing activities. Symitar will support the growth for which we have laid plans and will effectively remove any obstacles to better serve our members."
With Symitar EASE, Rock Valley will gain the comprehensive processing environment without the capital expenditures and IT resources required for in-house installations. The credit union is joining the ranks of more than 250 credit unions leveraging the Episys platform in an outsourced environment.
Rock Valley anticipates being able to streamline many internal processes and automate functions such as loan and transaction processing, account openings, and electronic signature options with the automation from Symitar's institution-wide integrations.
Rosek continued, "Our goal is to be a one-stop-shop for all of our members' financial needs, increasing bandwidth as well as market share. In such a competitive market, it's imperative to partner with a provider that fosters a culture of innovation and service. We know that our partnership with Symitar is laying the groundwork that will help us provide the products and services that our members demand."
Ted Bilke, president of Symitar, said, "Rock Valley Credit Union is an institution that takes an aggressive position in both its growth goals and member service. With Symitar EASE, the credit union will have the flexibility to respond quickly to member requests without the internal resource drain or infrastructure investment that often comes along with it. We enjoy partnering with growth-minded credit unions, and backing their vision with our technology and expertise to get the job done."
About Symitar
Symitar, a division of Jack Henry & Associates, Inc. (NASDAQ:JKHY), is a leading provider of integrated computer systems for credit unions of all sizes. Symitar has been selected as the primary technology partner by more than 850 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 solutions serve almost 10,900 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking® supports banks ranging from community banks to multi-billion dollar institutions with information processing solutions. Symitar® is a 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. 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.
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SOURCE Jack Henry & Associates, Inc.
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