Symitar Adds 49 New Credit Union Clients in Past Fiscal Year
MONETT, Mo. - Symitar added a total of 49 new credit unions to its client roster in the fiscal year ending June 30, corporate owner Jack Henry & Associates says. Those included 34 new Episys users and 15 new users of the Cruise platform for smaller credit unions. The company also says that 34 credit unions have opted for outsourcing since Symitar began that offering last year. "Since we entered the credit union industry in 2000 through the acquisition of Symitar, we have added 201 credit unions to our client roster and now serve more than 600 credit unions," says Kevin Williams, CFO of Jack Henry & Associates. Jack Prim, Jack Henry & Associates' CEO, says in the past year Symitar systems were selected to replace 15 different competitive systems by credit unions ranging from $4 million and 900 members in size to more than 300,000 members and $1.7 billion in asserts. According to the 2005 Credit Union Technology Survey from Callahan & Associates, Symitar has 13.2% of the data processing market share for credit unions over $25 million in assets, more than any single core processing unit. Symitar's president, Bruce Cormode, is currently on extended leave due to health problems.