Premier America Credit Union Moving to Symitar for Core Processing

Credit union’s leadership unanimously chose Episys for its agility, innovation

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 Premier America Credit Union is converting to Symitar EASE™, the outsourced delivery model of the Episys® core processing platform.

The Chatsworth, Calif.-based credit union is one of 27 competitive core takeaways Symitar recorded for the latest fiscal year, just ended June 30.

Premier America had developed concerns with its existing core provider’s innovation strategy as well as its reliability with system responsiveness and support. The credit union chose Symitar EASE as the replacement system that would provide an immediate positive impact and a full range of already developed interfaces and integrations.

Rudy Pereira, CEO of the $2.5 billion-asset Premier America, said, “The vote for Symitar was unanimous across our management and non-management, 18 people strong. The Episys platform is agile, allowing us to meet our members’ needs today and tomorrow, and there’s an ease that comes with modifying the system to our fit. And with Symitar’s outsourcing offering, we’re strengthening the performance of our core across all key areas of measurement – efficiency, cost, compliance and resiliency.”

Premier America opted to outsource its core via EASE to relieve its staff from performing day-to-day tasks that do not provide tangible value to the member experience. Instead, the credit union can focus team members to deliver on the promises of improved ease of banking, member engagement and financial success. According to Pereira, “Episys is good for everyone.”

Disaster recovery and business continuity planning also factored into Premier America’s decision to outsource. The credit union’s location brings the possibility that natural disasters might impact operations during any season. Pereira added, “The core is a financial institution’s lifeblood. We need the assurance it can be recovered and accessible quickly. With EASE, we are in a constant state of disaster recovery preparedness and are assured our members can get to us, to their accounts, whenever they need.”

The credit union is engaging Symitar for a number of other new solutions to complement the core, including jhaEnterprise Workflow™ to automate multi-step business processes and Advanced Reporting for Credit Unions™ (ARCU) for business intelligence and analytics.

Ted Bilke, president of Symitar, said, “Each new partnership is important to the Symitar family, and we were excited to help close out another strong year with the addition of Premier America Credit Union. This organization has its eyes on tomorrow by incorporating technologies that benefit its members today and will prepare them for the future. As outsourcing continues to grow as the preferred approach for deploying services for credit unions of all sizes, Symitar remains committed to building upon the sophistication of our offering so it’s everything our clients can imagine it to be, and more.”

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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