Two credit unions – a $1 billion South Carolina institution and a $78 million Michigan institution – announced their plans this week to change core processors.
The $1 billion Sharonview Federal Credit Union in the Charlotte, N.C., suburb of Fort Mill, S.C., is planning to convert to an in-house version of the Symitar Episys platform, the company and credit union said. Sharonview FCU currently runs on the Fiserv CUBE platform, according to data from Callahan & Associates, and the credited union cited plans for that platform to be sunsetted among its reasons for the switch.
Symitar is a division of Jack Henry & Associates and now claims the business of 88 of the 208 credit unions that exceed $1 billion in assets. Approximately 650 credit unions now run on Episys, the Monett, Mo., company said.
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