Jack Henry picks up $4.2B client

A $4.2 billion credit union with more than 217,000 members has selected Monett-based Jack Henry & Associates Inc. (NASDAQ: JKHY) to provide systemwide automation services.

Philadelphia-based Police and Fire Federal Credit Union will utilize the Episys platform under the Monett software company's Symitar division. The platform processes data for nearly 40 percent of all U.S. credit unions with $1 billion in assets or more, according to Symitar.com.

Police and Fire Federal Credit Union CEO John LaRosa said the company conducted a six-month search to find a more efficient core service provider.

"With a growing membership and more than $4 billion in assets, we are the largest credit union by far on our current core system," LaRosa said in the release, which did not name the company's current system. "We had reached a point in our technology life cycle that we needed a core system that could seamlessly support our current requirements and ongoing growth."

Symitar serves some 800 credit unions, part of Jack Henry's 11,300-customer count nationwide, the release said.

JKHY shares were trading at $56.44 as of 9:45 a.m., compared to a 52-week range of $37.90 to $60.34.

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