Jack Henry signs $890M credit union client

Jack Henry & Associates (Nasdaq: JKHY) announced today it signed an $890 million credit union client based in Virginia.

Waynesboro, Va.-based DuPont Community Credit Union selected the Monett technology company's Symitar division to provide in-house core processing via the Episys system, according to a news release.

"We conducted an extensive evaluation of core systems with the goal of installing a technology platform that could support our long-term business and growth plans, our ability to consistently deliver the contemporary financial products that enable us to aggressively and successfully compete, and our fundamental commitment to provide an exceptional member experience. We found what we were looking for in Episys," DuPont Community Credit Union CEO Gerald Hershey said in the release.

With Episys, Jack Henry has contracts with 77 of the country’s 196 credit unions with more than $1 billion in assets, according to Springfield Business Journal archives.

A week ago, Jack Henry's banking division announced North Carolina-based NewDominion Bank and Georgia-based First National Bank of Coffee County selected the division's SilverLake system for core processing, according to a separate release.

For its first quarter ended Sept. 30, Jack Henry reported earnings of $49.8 million, a 17.2 percent boost from $42.3 million a year ago.

JKHY shares were trading at $56.71 as of 10:15 a.m., compared to a 52-week range of $37.90 to $57.51.