Capital Credit Union Modernizes Operations and Positions for Growth with Jack Henry

Rhea-AI Summary

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.

Positive

• 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

Negative

• None.

Credit union selects Jack Henry for long-term stability and support

MONETT, Mo., March 19, 2025 /PRNewswire/ -- Jack Henry™ (Nasdaq: JKHY) is pleased to announce that Capital Credit Union converted to Jack Henry's Symitar^® platform and complementary products to support its future growth. 

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 $800 million in assets, and it remains dedicated to supporting the financial success of its more than 32,000 members.

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 $1 billion in assets and a leader in the $250 million to $1 billion asset segment. Capital Credit Union also valued Jack Henry's dedication to, and reputation for, exceptional customer service and support.

"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

What is the asset size of Capital Credit Union after selecting Jack Henry (JKHY) platform?

Capital Credit Union currently manages over $800 million in assets and serves more than 32,000 members.

Why did Capital Credit Union choose to convert to Jack Henry's (JKHY) Symitar platform in 2025?

The credit union chose Jack Henry after experiencing 8x growth in 18 years, needing enhanced support, security, and data encryption capabilities their existing platform couldn't provide.

What operational changes did Capital Credit Union implement with Jack Henry (JKHY) in March 2025?

They moved to an outsourced core model with integrated solutions, focusing on enhanced member security, workflow solutions, and advanced reporting capabilities.

How will the Jack Henry (JKHY) conversion benefit Capital Credit Union's members?

The conversion will enable improved member security, stronger member benefits, and enhanced service through streamlined operations and more efficient technology integration.