$960M credit union selects Jack Henry system

A $960 million credit union has selected Monett-based technology firm Jack Henry & Associates Inc.'s Symitar division to provide in-house core processing.

Bremerton, Wash.-based Kitsap Credit Union has opted to install Symitar's Episys platform, according to a news release.

"Symitar's Episys will make it easier for our members to do business with us and optimize how we can leverage the core," Kitsap Chief Information Officer Colin Morrison said in the release. "It will grow with our credit union as we need, today and well into the future."

Kitsap is making the switch to Episys after 20 years with its previous core platform. The system will be used to automate several processes once requiring workarounds, thus increasing efficiency in areas such as opening new accounts and originating loans.

Symitar serves more than 750 credit unions to provide automation services. Its parent company Jack Henry (Nasdaq: JKHY) recorded earnings of $40.5 million in its second quarter ending Dec. 31, a 5 percent increase compared to $38.5 million in the same quarter of 2011. The company's assets were $1.6 billion at year-end, with more than 11,900 customers nationwide.

JKHY shares were trading at $45.18 as of 9:45 a.m., compared to a 52-week range of $32.17 to $46.31.