#United States #Jack Henry #Symitar #Monett #Capital Credit Union

Capital Credit Union Embraces Modernization with Jack Henry

In a significant move towards modernization and growth, Capital Credit Union has made the strategic decision to transition to the Symitar platform from Jack Henry, seeking to enhance its operational efficiency and member services. Founded in 1936 by North Dakota state employees, Capital Credit Union has evolved over the years and currently boasts more than $800 million in assets and a dedicated member base of over 32,000 individuals.

As the credit union experienced remarkable growth—an impressive eightfold increase in just 18 years—it became apparent that its previous core platform could no longer keep pace with its expanding vision. The institution recognized the necessity for a more robust and secure framework to support its long-term objectives, including heightened security and data encryption measures. After careful consideration, Capital Credit Union opted for Jack Henry, renowned for being the largest core provider for credit unions with assets exceeding $1 billion and a celebrated leader in the segment of institutions with assets ranging from $250 million to $1 billion.

Kurt Schmidt, Chief Information Officer at Capital Credit Union, articulated the rationale behind this decision, stating, "Our choice to move to Jack Henry represents an investment in our future and that of our members. The Jack Henry team has been thorough, responsive, and incredibly efficient, both in terms of technical support and training. While we are still in the early stages of the conversion process, we expect their user-friendly experience will empower our staff, allowing them to engage more effectively with technology in critical areas that matter to us. This will provide us with competitive advantages and enable us to allocate more resources toward enhanced member benefits and services."

Switching to an outsourced core model has been a pivotal change for Capital Credit Union. This move has allowed its employees to focus on significant differentiators and elevate member service while delegating the responsibilities of technology maintenance to Jack Henry’s comprehensive and well-established systems. One key focus for the credit union has been improving member security comprehensively, supplemented with advanced reporting capabilities and integrated workflow solutions to enhance overall member experiences.

By consolidating its operations under a single vendor, the credit union has streamlined its support systems, ensuring that technology operations and team dynamics work in unison. Brynn Ammon, President of Credit Union Solutions at Jack Henry, expressed her appreciation for Capital's decision, stating, "We are honored to support Capital Credit Union, a staple in its community for the past 90 years. Our innovative services remain core to both our culture and our success."

Jack Henry, established as a noteworthy financial technology company, continues to provide technology solutions that enable clients to innovate, differentiate strategically, and compete effectively, addressing evolving needs within the industry. With a customer base close to 7,500, the company champions a proactive approach to banking and credit union services, fostering connections between financial institutions and their clientele.

The partnership between Capital Credit Union and Jack Henry signifies a promising future for the credit union as it navigates this transformative journey, enhancing its capability to serve its members while continuing its legacy as a vital community asset.

As technology continues to shape the future of financial services, collaborations such as this one will likely become increasingly commonplace, fostering a landscape rich in innovation and focused on customer satisfaction. Capital Credit Union's proactive approach underscores a commitment not only to growth but also to the welfare of its members, ensuring that they receive the best services possible in an ever-evolving market.