TwinStar Credit Union Continues Relationship with Jack Henry Through Successful Merger with Northwest Community Credit Union

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TwinStar Credit Union continues its long-standing relationship with Jack Henry (Nasdaq: JKHY) following a successful merger with Northwest Community Credit Union (NWCU). The merged entity, operating under the TwinStar name, now serves over 250,000 members across Washington and Oregon, with $4.3 billion in assets, 36 locations, and more than 700 employees.

TwinStar's decision to maintain its partnership with Jack Henry is attributed to the company's open, scalable technology and strong leadership support. The credit union has experienced significant growth since joining Jack Henry in 1987, expanding from $50 million to $2.2 billion in assets pre-merger. TwinStar CEO Jeff Kennedy praised Jack Henry's unified strategy for providing the freedom to innovate and deliver value without constraints.

The partnership aims to support TwinStar's long-term growth goals, enhance member service, and maintain relevance in a competitive market, particularly among younger generations.

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Open, scalable technology grows with credit union to strengthen member service throughout the Pacific Northwest

MONETT, Mo., Aug. 20, 2024 /PRNewswire/ -- Jack Henry™ (Nasdaq: JKHY) is pleased to share that TwinStar Credit Union is continuing its nearly four decade relationship with the company to support its successful merger with Northwest Community Credit Union (NWCU) and facilitate continued growth.

TwinStar and NWCU merged in 2023 to stay competitive, scaling their products and services to over 250,000 members across Washington and Oregon. Operating under the TwinStar name, the merged credit union has $4.3 billion in assets, 36 locations, and employs more than 700 people, making it the fifth-largest financial cooperative by assets in Washington.

TwinStar has experienced significant growth since beginning its relationship with Jack Henry. Since TwinStar became the 27th credit union on the Symitar core in 1987, it has grown from a $50 million credit union to $2.2 billion in assets before the merger. TwinStar attributes its decision to continue its relationship with Jack Henry following the merger to open, scalable technology and strong leadership support.

"Jack Henry's unified strategy gives us the freedom to innovate and deliver value without constraints," said TwinStar CEO Jeff Kennedy. "The unwavering support from their deployment teams and open access to executive leadership have been key to our long-term success. We appreciate Jack Henry's commitment to deliver modern innovation to credit unions and look forward to continuing our collaboration to achieve our long-term growth goals."

TwinStar also cited the ability to be more agile and innovative as key drivers for the decision. "Jack Henry's open technology gives us greater flexibility and optionality to choose the products and features we need to innovate faster and meet the evolving needs of our members," added TwinStar CIO Alan Pitcher. "Their technology positions us to be future-ready in member service, allowing us to attract and stay relevant to the younger generation while thriving in a competitive and consolidating market."

Brynn Ammon, President of Credit Union Solutions at Jack Henry, said the company is proud to continue supporting the combined organization.

"TwinStar and NWCU were both successful credit unions making a multi-generational impact on the communities they serve," Ammon said. "The merger of the two has many benefits, including greater efficiencies and increased capacity for more features and technology advances at scale. We look forward to continuing to provide innovative technology and excellent support. Together, we will work to make an even greater impact on their community."

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 was the recent merger involving TwinStar Credit Union and Jack Henry (JKHY)?

TwinStar Credit Union merged with Northwest Community Credit Union (NWCU) in 2023, continuing its relationship with Jack Henry (JKHY) to support the merger and facilitate growth.

How large is the merged TwinStar Credit Union as of August 2024?

The merged TwinStar Credit Union has $4.3 billion in assets, 36 locations, and over 250,000 members across Washington and Oregon, making it the fifth-largest financial cooperative by assets in Washington.

Why did TwinStar Credit Union choose to continue its relationship with Jack Henry (JKHY) after the merger?

TwinStar chose to continue with Jack Henry (JKHY) due to its open, scalable technology, strong leadership support, and the ability to innovate and deliver value without constraints.

How long has TwinStar Credit Union been working with Jack Henry (JKHY)?

TwinStar Credit Union has been working with Jack Henry (JKHY) for nearly four decades, since becoming the 27th credit union on the Symitar core in 1987.

What benefits does Jack Henry's (JKHY) technology offer TwinStar Credit Union?

Jack Henry's (JKHY) technology offers TwinStar greater flexibility, optionality to choose products and features, faster innovation, and the ability to meet evolving member needs while staying relevant to younger generations.