Jack Henry lands $1.3B client

Jack Henry & Associates Inc. (Nasdaq: JKHY) has signed a $1.3 billion credit union client based in Indiana.

Indianapolis-based Indiana Members Credit Union selected the Monett technology firm's Symitar division for in-house core processing services via the Episys platform, according to a news release.

Jack Henry claims that more than 35 percent of U.S. credit unions with more than $1 billion in assets are automated by Episys, a client-centric system with more than 50 complementary products, according to the company's website.

"We have a commitment to provide members with consistent, superior service. They should not be bothered by the fact that we are changing core processors, and Symitar understands that," Indiana Members Credit Union CEO Ron Collier said in the release. "We look forward to expanding our relationship with a partner that takes our members' needs to heart in terms of dependable delivery and innovation."

Jack Henry's Symitar division counts more than 750 credit union clients. The company, which has nearly 12,000 customers nationwide, posted earnings of $46 million for its third quarter ended March 31, a 25 percent increase compared to net income of $36.7 million in the same quarter of 2012.

JKHY shares were trading at $47.30 as of 9:20 a.m., compared to a 52-week range of $32.40 to $48.14.