CommonWealth selects Jack Henry to modernise its infrastructure

By Gloria Mathias

CommonWealth Central Credit Union (CommonWealth) has selected Jack Henry to modernise its technology infrastructure and support future growth.

Founded in a garage in 1958, CommonWealth’s mission is to help its members enhance their financial well-being. Over 65 years, it evolved from a small credit union with 10 members and $104 in assets into a full-service financial institution with $632 million in assets, serving nearly 40,000 members across four branch locations. The credit union’s success is attributed to a strong belief in the philosophy of “people helping people.”

In re-evaluating its technology platform to position itself for growth, CommonWealth identified limitations in functionality and support with its existing platform, and third-party integrations were often time-consuming and expensive.

CommonWealth selected Jack Henry for its open approach and commitment to technology modernisation. Jack Henry’s platform helps the credit union facilitate innovation, modernize operations, and enhance member service, better positioning them to compete with larger financial institutions.

“Jack Henry’s future-focused mindset and open technology made them the clear choice,” said Val Ovrootsky, Chief Information Officer at CommonWealth. “Jack Henry’s ongoing investment in technology provides us with the scalable infrastructure we need to grow and deliver modern banking services and tools to members.”

The credit union looks forward to the improved functionality and flexibility the new platform will provide. Without the limitations and workarounds, CommonWealth has the option to collaborate with third parties of choice or develop competitive solutions independently. It plans to create new products and services that will better serve its members. The platform’s tight integrations will also improve efficiencies for both back-office and member-facing employees, saving the credit union both time and money.

“Jack Henry is committed to service and innovation, continually investing in modernising our platforms and staying ahead of industry trends,” said Brynn Ammon, President of Credit Union Solutions at Jack Henry. “This commitment provides credit unions like CommonWealth with the technology and support to address key business challenges, including improving operational efficiency and attracting and retaining new members. We’re proud to provide the infrastructure CommonWealth needs to uphold their mission.”