Jack Henry hooks $782M credit union client

Monett-based Jack Henry & Associates Inc. (Nasdaq: JKHY) has boosted its clientele with the addition of a $782 million credit union to its ranks, the third multimillion-dollar client announced this week.

Purchase, N.Y.-based Quorum Federal Credit Union selected Jack Henry's Symitar division to provide in-house core processing through its Episys platform, according to a news release.

Quorum, which serves more than 50 companies including Kraft Foods, claims more than 50,000 members.

"They deserve and expect access to contemporary, highly competitive financial products and services as well as an exceptional service experience every time they engage with our credit union," Quorum President and CEO Bruno Sementilli said in the release. "We conducted an extremely detailed evaluation of core systems that literally matched our business and operational requirements against system functionality. Our process clearly identified Episys as the system most functionally compatible with our specific requirements and Symitar demonstrated that it wants to be our long-term technology partner."

Jack Henry, which claims some 11,300 customers nationwide, is scheduled to release its its first-quarter financial results Nov. 6.

JKHY shares were trading at $54.58 as of 9:36 a.m., compared to a 52-week range of $37.12 to $55.42.