Abound Credit Union Invests in Technology Modernization with Jack Henry

Rhea-AI Summary

Jack Henry (NASDAQ:JKHY) announced that Abound Credit Union has selected its Symitar® core platform and cloud-based solutions for technology modernization. Abound Credit Union, with $2.4 billion in assets and serving over 130,000 members across Kentucky, will implement Jack Henry's open, cloud-native platform to enhance its banking services.

The credit union will utilize several integrated solutions including Jack Henry Data Hub™, Banno Digital Platform™, and Banno Digital Toolkit™ to provide personalized experiences and seamless third-party integration. The implementation aims to modernize member services and attract younger generations while maintaining the credit union's personal touch.

Positive

• Selection of Jack Henry's solutions by a significant credit union with $2.4B in assets
• Expansion of product offering through multiple integrated solutions
• Strategic positioning to attract younger generation customers

Negative

• None.

News Market Reaction

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On the day this news was published, JKHY gained 0.56%, reflecting a mild positive market reaction.

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Credit union prioritizes collaboration to prepare for the future and improve the lives of Kentuckians

MONETT, Mo., July 14, 2025 /PRNewswire/ -- Jack Henry™ (Nasdaq: JKHY) announced today that Abound Credit Union has selected the Symitar^® core platform and its complementary cloud-based solutions to modernize the banking experience for its more than 130,000 members across Kentucky.

Founded 75 years ago as a small institution serving 10 Fort Knox employees, Abound Credit Union has grown to $2.4 billion in assets and is now a pillar of southern and central Kentucky communities. The credit union found it increasingly challenging to keep up with members' needs and attract younger generations with its legacy technology and workarounds. It needed a future-ready, flexible technology platform that would support growth without sacrificing the brand's personal connections. Jack Henry's open, cloud-native platform gives Abound a technology foundation that can support the credit union in its next chapter.

"Jack Henry understands our vision and what it takes to cater to our members' diverse financial situations," said Ray Springsteen, CEO at Abound Credit Union. "Its open platform seamlessly integrates third-party solutions, enabling members to have the financial services they rely on, while easily adding new capabilities as needs change. This empowers us to focus our resources on serving Kentuckians for the next 75 years and beyond."

Abound will leverage many of Jack Henry's complementary integrated solutions to deliver a more personalized, secure, and convenient experience. For example, Jack Henry Data Hub™ will provide real-time member insights, the Banno Digital Platform™ offers an intuitive digital experience, and the Banno Digital Toolkit™ allows for easy customization and smooth integration with third-party providers. Jack Henry's business banking, payments, lending, and financial crimes solutions also will enhance the credit union's offerings.

"Our technology modernization strategy is designed to empower institutions like Abound to embrace change, drive their own innovation, and deliver value to every member," said Brynn Ammon, President of Credit Union Solutions at Jack Henry. "The credit union is leveraging our foundation to create its own banking experience, one that rewards and brings value to a diverse member base. We're honored to help them build a resilient technology plan that will support their growth and further deepen their impact in Kentucky."

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 nearly 50 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 solutions has Abound Credit Union selected from Jack Henry (NASDAQ:JKHY)?

Abound Credit Union has selected Jack Henry's Symitar® core platform, along with complementary solutions including Jack Henry Data Hub™, Banno Digital Platform™, and Banno Digital Toolkit™ for technology modernization.

How many members does Abound Credit Union serve with Jack Henry's platform?

Abound Credit Union serves over 130,000 members across Kentucky, managing $2.4 billion in assets.

What are the key benefits of Jack Henry's platform for Abound Credit Union?

The platform provides an open, cloud-native foundation that enables seamless third-party integration, personalized member experiences, and the flexibility to add new capabilities as needs change.

Who is the CEO of Abound Credit Union implementing Jack Henry's solutions?

Ray Springsteen is the CEO of Abound Credit Union, who emphasized that Jack Henry understands their vision for catering to members' diverse financial situations.

What specific features will Abound Credit Union gain from Jack Henry's solutions?

Abound will gain real-time member insights through Data Hub™, intuitive digital experience via Banno Digital Platform™, and customization capabilities through Banno Digital Toolkit™, along with business banking, payments, lending, and financial crimes solutions.