Financial credit

Jack Henry supports TruStone Financial Credit Union through scale merger

Jack Henry supports TruStone Financial Credit Union through scale merger

By Pavithra R

August 11, 2021

Jack Henry & Associates, a leading provider of technology solutions and payment processing services primarily focused on the financial services industry, announced that TruStone Financial Credit Union is leveraging the open technologies of its Symitar division to maintain a personal contact with members throughout its merger and beyond.

“It is clear that Jack Henry takes feedback and strategic direction into account when innovating on behalf of his clients, which has been a determining factor in our decision to partner with them throughout the merger and in the future of our credit union. This merger was a milestone in the history of our credit union and we needed a partner who could meet the needs of our business as well as our members with modern technology. We are confident that we are working with a partner who has a proven track record of listening, valuing our business and constantly innovating on our behalf, ”said Dale Turner, President and CEO of TruStone.

“We learned many lessons during Covid-19 about the rapid adoption and use of digital services. Dynamic systems are table stakes – we need to be fast and responsive to a rapidly changing digital landscape, ”Turner added.

Previously operating as TruStone Financial Credit Union and Firefly Credit Union, the integration of the credit union merger was completed in March. CU uses Symitar’s core as well as the Banno digital platform, including payments and other add-on features. The use of Jack Henry’s technology has been a critical part of the transition. TruStone sits on Banno’s Customer Advisory Board and participates in pilot and beta testing.

Firefly was previously on the core of a competitor before the merger, but the newly merged credit union decided to continue its relationship with Jack Henry due to efficiency gains and established infrastructure. TruStone was already using the Banno digital platform; now that the merger is complete, more than 100,000 members are benefiting from this digital experience. Members can enjoy better features like secure live human chats and faster speeds including 1 to 2 second view from app launch to transaction, as well as customer centric digital banking experiences. human, but will have direct and open access to popular third-party applications.

“Mergers can be difficult under any circumstances, and this merger was the largest of its kind in the history of credit unions. We are honored that TruStone and Firefly have trusted our decades of experience to make the transition as smooth as possible. This is often the time when partnerships are reassessed, but for us, it’s a real testament to the strength of our relationships and the value our technology brings to both the institution and its members. We look forward to growing our relationship with TruStone and continuing to support their journey, ”said Shanon McLachlan, Vice President of Jack Henry & Associates and President of Symitar.

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