Capital Credit Union Modernizes Operations and Positions for Growth with Jack Henry
Capital Credit Union has selected Jack Henry's Symitar® platform to modernize its operations and support future growth. The credit union, founded in 1936 and currently managing over $800 million in assets with more than 32,000 members, made this strategic move after experiencing eightfold growth in 18 years.
The decision was driven by the need for enhanced support, improved security, and better data encryption capabilities, as their existing core platform could no longer support long-term growth objectives. Capital Credit Union chose Jack Henry due to its strong reputation as the largest core provider for credit unions over $1 billion in assets and leadership in the $250M-$1B segment.
The credit union has transitioned to an outsourced core model, implementing integrated solutions and streamlined support systems. This consolidation under one vendor aims to improve operational efficiency, enhance member security, and enable advanced reporting capabilities while allowing employees to focus on member service.
Capital Credit Union ha scelto la piattaforma Symitar® di Jack Henry per modernizzare le proprie operazioni e supportare la crescita futura. La cooperativa di credito, fondata nel 1936 e attualmente gestendo oltre 800 milioni di dollari in attivi con più di 32.000 membri, ha preso questa decisione strategica dopo aver registrato una crescita otto volte superiore in 18 anni.
La scelta è stata motivata dalla necessità di un supporto potenziato, di una maggiore sicurezza e di migliori capacità di crittografia dei dati, poiché la loro attuale piattaforma centrale non era più in grado di sostenere gli obiettivi di crescita a lungo termine. Capital Credit Union ha scelto Jack Henry per la sua solida reputazione come il più grande fornitore di servizi core per le cooperative di credito con oltre 1 miliardo di dollari in attivi e per la leadership nel segmento da 250 milioni a 1 miliardo.
La cooperativa di credito è passata a un modello core esternalizzato, implementando soluzioni integrate e sistemi di supporto semplificati. Questa consolidazione sotto un unico fornitore mira a migliorare l'efficienza operativa, aumentare la sicurezza dei membri e abilitare capacità di reporting avanzate, consentendo nel contempo ai dipendenti di concentrarsi sul servizio ai membri.
Capital Credit Union ha seleccionado la plataforma Symitar® de Jack Henry para modernizar sus operaciones y apoyar el crecimiento futuro. La cooperativa de crédito, fundada en 1936 y que actualmente gestiona más de 800 millones de dólares en activos con más de 32,000 miembros, tomó esta decisión estratégica después de experimentar un crecimiento ocho veces mayor en 18 años.
La decisión fue impulsada por la necesidad de un soporte mejorado, mayor seguridad y mejores capacidades de cifrado de datos, ya que su plataforma central existente ya no podía respaldar los objetivos de crecimiento a largo plazo. Capital Credit Union eligió a Jack Henry debido a su sólida reputación como el mayor proveedor central para cooperativas de crédito con más de 1,000 millones de dólares en activos y su liderazgo en el segmento de 250 millones a 1,000 millones.
La cooperativa de crédito ha hecho la transición a un modelo central externalizado, implementando soluciones integradas y sistemas de soporte simplificados. Esta consolidación bajo un solo proveedor tiene como objetivo mejorar la eficiencia operativa, aumentar la seguridad de los miembros y habilitar capacidades de informes avanzados, permitiendo al mismo tiempo que los empleados se concentren en el servicio al miembro.
캐피탈 크레딧 유니온은 잭 헨리의 심리타르® 플랫폼을 선택하여 운영을 현대화하고 향후 성장을 지원합니다. 1936년에 설립된 이 신용 조합은 현재 8억 달러 이상의 자산을 관리하고 있으며, 32,000명 이상의 회원을 보유하고 있습니다. 이들은 18년 동안 8배 성장한 후 전략적인 결정을 내렸습니다.
이 결정은 향상된 지원, 개선된 보안 및 더 나은 데이터 암호화 기능의 필요성에 의해 추진되었으며, 기존의 코어 플랫폼은 더 이상 장기 성장 목표를 지원할 수 없었습니다. 캐피탈 크레딧 유니온은 10억 달러 이상의 자산을 가진 신용 조합을 위한 가장 큰 코어 제공업체로서의 강력한 명성 및 2억 5천만 달러에서 10억 달러 사이의 부문에서의 리더십 때문에 잭 헨리를 선택했습니다.
신용 조합은 아웃소싱된 코어 모델로 전환하여 통합 솔루션과 간소화된 지원 시스템을 구현했습니다. 이 공급업체 아래의 통합은 운영 효율성을 개선하고 회원 보안을 강화하며 고급 보고 기능을 가능하게 하여 직원들이 회원 서비스에 집중할 수 있도록 하는 것을 목표로 합니다.
Capital Credit Union a choisi la plateforme Symitar® de Jack Henry pour moderniser ses opérations et soutenir sa croissance future. La coopérative de crédit, fondée en 1936 et gérant actuellement plus de 800 millions de dollars d'actifs avec plus de 32 000 membres, a pris cette décision stratégique après avoir connu une croissance multipliée par huit en 18 ans.
Cette décision a été motivée par le besoin d'un soutien amélioré, d'une sécurité accrue et de meilleures capacités de cryptage des données, car leur plateforme centrale existante ne pouvait plus soutenir les objectifs de croissance à long terme. Capital Credit Union a choisi Jack Henry en raison de sa solide réputation en tant que plus grand fournisseur de services centraux pour les coopératives de crédit de plus d'un milliard de dollars d'actifs et de sa position de leader dans le segment de 250 millions à 1 milliard.
La coopérative de crédit est passée à un modèle central externalisé, mettant en œuvre des solutions intégrées et des systèmes de support rationalisés. Cette consolidation sous un seul fournisseur vise à améliorer l'efficacité opérationnelle, à renforcer la sécurité des membres et à permettre des capacités de reporting avancées tout en permettant aux employés de se concentrer sur le service aux membres.
Capital Credit Union hat die Symitar®-Plattform von Jack Henry ausgewählt, um ihre Abläufe zu modernisieren und zukünftiges Wachstum zu unterstützen. Die 1936 gegründete Kreditgenossenschaft verwaltet derzeit über 800 Millionen Dollar an Vermögenswerten mit mehr als 32.000 Mitgliedern und traf diesen strategischen Schritt nach einem achtfachen Wachstum in 18 Jahren.
Die Entscheidung wurde durch den Bedarf an verbessertem Support, erhöhter Sicherheit und besseren Datenverschlüsselungsfähigkeiten vorangetrieben, da ihre bestehende Kernplattform die langfristigen Wachstumsziele nicht mehr unterstützen konnte. Capital Credit Union wählte Jack Henry aufgrund seines starken Rufs als größter Anbieter von Kernlösungen für Kreditgenossenschaften mit über 1 Milliarde Dollar an Vermögenswerten und seiner Führungsposition im Segment von 250 Millionen bis 1 Milliarde Dollar.
Die Kreditgenossenschaft hat auf ein ausgelagertes Kernmodell umgestellt und integrierte Lösungen sowie optimierte Unterstützungssysteme implementiert. Diese Konsolidierung unter einem Anbieter zielt darauf ab, die Betriebseffizienz zu verbessern, die Sicherheit der Mitglieder zu erhöhen und erweiterte Berichtsfunktionen zu ermöglichen, während die Mitarbeiter sich auf den Mitgliederservice konzentrieren können.
- Secured major client with $800M in assets and 32,000 members
- Demonstrates market leadership in credit unions over $1B segment
- Expands recurring revenue through outsourced core model
- Successfully converts client from competitor platform
- None.
Insights
Jack Henry's new partnership with Capital Credit Union demonstrates the company's continued execution in securing mid-sized credit union clients for its core banking platforms. The conversion of an $800 million asset credit union with 32,000+ members to Jack Henry's Symitar platform represents a solid client acquisition that reinforces JKHY's market positioning.
Particularly noteworthy is Capital Credit Union's decision to adopt an outsourced core model, which typically generates higher-margin recurring revenue compared to on-premise deployments. This aligns with industry trends toward managed services and cloud infrastructure that provide more predictable revenue streams for financial technology providers.
The announcement highlights JKHY's competitive strength in two key credit union segments: institutions over $1 billion in assets (where they're positioned as the largest core provider) and the $250M-$1B segment (where they claim leadership). Capital Credit Union's eightfold growth over 18 years makes them an ideal reference customer for other growing credit unions considering technology upgrades.
While this single client win isn't material enough to significantly impact JKHY's $12.8 billion market cap, it demonstrates continued business momentum and validates their technology stack against competitors. For investors, the value lies in confirming JKHY's sustained ability to convert credit unions seeking modernization of legacy systems - an ongoing market opportunity as smaller financial institutions continue digital transformation efforts.
Credit union selects Jack Henry for long-term stability and support
The credit union dates back to 1936, founded by state employees meeting in the North Dakota Capitol building with a mission to support financial well-being and provide reliable credit. Over the years, the credit union flourished, through organic growth and mergers to expand its reach and impact. Today, Capital Credit Union has over
After experiencing eightfold growth in 18 years, the credit union's existing core platform could no longer support its long-term growth objectives. It was crucial for Capital to find a provider that could enhance support and service while also positioning them to meet increased demands related to security and data encryption. The institution was impressed by Jack Henry's strong reputation as the largest core provider for credit unions over
"Our decision to convert to Jack Henry is an investment in the future of our organization and members," said Kurt Schmidt, Chief Information Officer of Capital Credit Union. "We're pleased with how thorough, responsive, and efficient the Jack Henry team has been, both from a technical and training perspective. While it's still relatively early for us in the conversion process, Jack Henry's user-friendly experience will empower more employees to work directly with the technology in areas important to us. This should help us with competitive differentiators while helping us free up resources that can be used to offer even stronger member benefits and service."
The credit union moved to an outsourced core model, trusting Jack Henry's comprehensive, broad-based system to maintain its technology while enabling employees to focus on meaningful differentiators and member service. For example, they've worked on increasing member security from a holistic perspective, along with additional workflow solutions and advanced reporting capabilities to improve their member experiences. By consolidating under one vendor, they gained integrated solutions and streamlined support, helping their technology and teams work more efficiently together.
"We appreciate when credit unions like Capital Credit Union choose us for our innovation and service, which have been core to both our culture and success," added Brynn Ammon, President of Credit Union Solutions at Jack Henry. "Capital Credit Union has been a cornerstone of its community for 90 years, and we are honored to be the technology provider of choice to help them continue that legacy."
About Jack Henry & Associates, Inc.®
Jack Henry™ (Nasdaq: JKHY) is a well-rounded financial technology company that strengthens connections between financial institutions and the people and businesses they serve. We are an S&P 500 company that prioritizes openness, collaboration, and user centricity – offering banks and credit unions a vibrant ecosystem of internally developed modern capabilities as well as the ability to integrate with leading fintechs. For more than 48 years, Jack Henry has provided technology solutions to enable clients to innovate faster, strategically differentiate, and successfully compete while serving the evolving needs of their accountholders. We empower approximately 7,500 clients with people-inspired innovation, personal service, and insight-driven solutions that help reduce the barriers to financial health. Additional information is available at www.jackhenry.com.
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SOURCE Jack Henry & Associates, Inc.
FAQ
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