BCU Strengthens Jack Henry Relationship to Support Growth Goals

Rhea-AI Summary

BCU, a $6 billion credit union, has extended its 25-year technology partnership with Jack Henry (Nasdaq: JKHY). The credit union, which first adopted Jack Henry's Symitar Core in 1999 with $529 million in assets, has grown to serve over 350,000 members across Illinois, Wisconsin, Puerto Rico, and its financial wellness CUSO.

After a decade of partnership, BCU began migrating its technology assets to Jack Henry's private cloud platform, enabling focus on innovation and member service enhancement. The credit union leverages Jack Henry's open APIs for fintech integration and has expanded its payments capabilities through JHA PayCenter, utilizing Zelle and FedWire services.

BCU's Chief Technology Officer Scott Zulpo emphasized their continued cloud journey and confidence in Jack Henry's platform to support future growth while maintaining operational efficiency and member service quality.

Positive

• Long-term client retention and expansion (25-year relationship)
• Significant client growth from $529M to $6B in assets
• Large member base of 350,000+ customers
• Strategic expansion of payment capabilities through JHA PayCenter

Negative

• None.

News Market Reaction – JKHY

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On the day this news was published, JKHY declined 3.44%, reflecting a moderate negative market reaction.

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$6 billion credit union continues 25-year relationship with technology provider to plan for significant growth while enhancing member service

MONETT, Mo., April 8, 2025 /PRNewswire/ -- Jack Henry™ (Nasdaq: JKHY) announced today that BCU is continuing its long-standing relationship with the company, leveraging Jack Henry's cloud-based platform to support its long-term growth and commitment to delivering strong member service.

BCU first selected Jack Henry's Symitar^® Core in 1999, at $529 million in assets. After 10 years, the credit union began to migrate its technology assets to Jack Henry's private cloud, streamlining operations to shift IT resources toward innovation and differentiate with member service.

Today, BCU has grown to $6 billion in assets and serves more than 350,000 members across strategic markets, including parts of Illinois, Wisconsin, Puerto Rico, and subscribers to its financial wellness CUSO. Jack Henry's ongoing investments in cloud-based technology and modernization align with BCU's vision for the future, which was a key factor in the decision to extend the credit union's investment in Jack Henry.

"We've been on a cloud journey for years, shifting our focus from infrastructure management to innovation that directly benefits our members," said Scott Zulpo, Chief Technology Officer at BCU. "With plans to increase our member base in the upcoming years, we are confident that Jack Henry's cloud-based technology platform will support our growth while ensuring operational efficiency and strong, uninterrupted member service. For as long as we've known them, Jack Henry continues to evolve. Now, as we are at an important precipice in banking technology, we look forward to playing an active role in shaping its evolution, ensuring we can meet new needs as we grow."

BCU values the ability to leverage Jack Henry's open APIs to integrate seamlessly with other fintechs of choice. The credit union has also expanded its payments capabilities through JHA PayCenter™, utilizing Zelle^® and FedWire^® to improve transaction speed and efficiency.

"The team at BCU is a prime example of how embracing the disruption occurring in the financial technology ecosystem can support long-term growth and innovation," said Brynn Ammon, president of Credit Union Solutions at Jack Henry. "Their experience demonstrates how credit unions can modernize operations with cloud-based technologies while continuing to deliver the kind of exceptional member service that drives growth. We look forward to another 25 years of collaboration and innovation to serve their members and the communities they support."

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

How has BCU's asset size grown since partnering with Jack Henry (JKHY) in 1999?

BCU has grown from $529 million in assets in 1999 to $6 billion currently, while expanding its member base to over 350,000 members.

What payment solutions does BCU utilize through Jack Henry's (JKHY) platform?

BCU uses JHA PayCenter to access Zelle and FedWire services for improved transaction speed and efficiency.

When did BCU begin migrating to Jack Henry's (JKHY) private cloud platform?

BCU started migrating its technology assets to Jack Henry's private cloud approximately 10 years after their initial 1999 partnership.

What geographical markets does BCU serve through its Jack Henry (JKHY) platform?

BCU serves members across strategic markets including parts of Illinois, Wisconsin, Puerto Rico, and subscribers to its financial wellness CUSO.