Fairfax, VA. (4 May 2016) – Fairfax, VA. based FedComp, a credit union core data processor provider, announced that it has been selected by Jafari No-Interest Credit Union, headquartered in Houston, TX, as its core processor provider. The credit union has achieved two industry firsts to its credit prior to its opening this year; it is the first new credit union chartered in Texas in eight years and the first officially chartered credit union of 2016 by being officially chartered on Feb. 16 by the Texas Credit Union Department. On the 26th of February NCUA’s Office of Consumer Protection announced the approval of federal insurance of member’s accounts for the newly chartered credit union.

The newly chartered credit union has the potential to serve more than 23,000 faith-based members in the triangle area of Texas encompassing the three metropolitan communities of Houston, Dallas and Austin. Jafari has selected FedComp’s Platinum 2016 SaaS based core processor designed with integrated mobility embedded functionally. The embedded functionally will provide Jafari the flexibility to expand system functionally to match future membership growth.

Platinum 2016 is a cloud based integrated suite of mobility solutions designed specifically for the “small entity” credit unions, those under $200 million asset. It unlocks the opportunity to the “small entity” credit unions to have equal mobile banking services as Billion Dollar financial institutions including; statements with images, transfer funds, messaging, personalized settings, P2P, remote deposit capture, and many other features. Platinum 2016, when coupled with FedComp’s partners, cloud hosting by OGO and mobile banking by MoadBus, will allow Jafari five levels of functional growth solutions; mobile data, mobile banking, mobile member, mobile workforce (branches), and mobile business.

FedComp is pleased to welcome Jafari No-Interest Credit Union to its international family of over 750 credit unions.