Capital Credit Union Partners for Operational Excellence
Capital Credit Union has made a significant move towards modernizing its operations by partnering with Jack Henry, a respected provider in financial technology. This collaboration aims to create a more robust system that supports the credit union's ongoing growth and enhances its service offerings to members.
Legacy and Growth of Capital Credit Union
Founded to serve state employees in 1936, Capital Credit Union has grown immensely over the years. What started as a small group of individuals meeting in a government building has transformed into a solid financial institution with over $800 million in assets and more than 32,000 members. Their commitment has always been towards aiding members in achieving financial well-being.
The Need for Modernization
After achieving remarkable growth, Capital Credit Union realized that their existing core platform was becoming insufficient to meet their expanding needs. They needed a solution that not only provided support and improved service quality but also enhanced security features. With cyber threats on the rise, finding a provider that focused on security was non-negotiable.
Choosing Jack Henry: A Decision for the Future
Jack Henry stood out for its reputation as the largest core provider for credit unions with assets exceeding $1 billion. Capital Credit Union recognized that integrating Jack Henry's systems would position them favorably in today’s competitive landscape. The decision to switch to Jack Henry's Symitar platform symbolizes their pledge to innovation and service improvement.
A User-Friendly Transition
Kurt Schmidt, Chief Information Officer of Capital Credit Union, expressed his satisfaction with the conversion process. He highlighted the Jack Henry team's responsiveness and how user-friendly their interface has been. This transition allows more employees to engage with technology directly, fostering a culture of innovation and free resources that can be directed toward enhanced member benefits.
Benefits of the Partnership
Moving to an outsourced core model signifies a strategic shift in how Capital Credit Union operates. Jack Henry's comprehensive systems will handle their technology needs, allowing the credit union’s team to focus on member services. Enhancements in security, workflow solutions, and advanced reporting capabilities aim to elevate the member experience to new heights. A consolidated vendor approach ensures that operations are streamlined, leading to efficient teamwork and a cohesive strategy.
Commitment to Community
The partnership between Capital Credit Union and Jack Henry is built on mutual respect and a shared goal of serving the community. Brynn Ammon, President of Credit Union Solutions at Jack Henry, acknowledged Capital Credit Union's longstanding dedication to its members and community. They are excited to support Capital's mission to remain a cornerstone of financial service for its members.
About Jack Henry & Associates, Inc.
Jack Henry™ is a leading financial technology company listed on NASDAQ under the ticker JKHY. They specialize in creating connections between financial institutions and their clients by providing innovative solutions. As part of the S&P 500, Jack Henry champions openness and collaboration, offering a blend of proprietary and integrated fintech solutions. With nearly 50 years of experience, they empower over 7,500 clients to achieve their strategic goals in an ever-evolving financial landscape. More information can be found at www.jackhenry.com.
Frequently Asked Questions
Why did Capital Credit Union switch to Jack Henry?
Capital Credit Union aimed to enhance its operational capabilities and member services to meet growing demands and improve security features.
What benefits does the partnership bring to members of Capital Credit Union?
The partnership is set to enhance member experience through better security measures, effective workflow solutions, and efficient service delivery.
How long has Capital Credit Union been in operation?
Capital Credit Union has been serving its community since 1936, marking over 90 years of dedicated service.
What technology platform will Capital Credit Union adopt?
The credit union will be transitioning to Jack Henry's Symitar platform to support its operational and growth strategies.
Who is Jack Henry, and what do they specialize in?
Jack Henry & Associates is a well-established financial technology provider that supports financial institutions in innovating and optimizing their operations.
