4th Quarter numbers reflect ongoing growth for CUSO
GRAND RAPIDS, MI (November 9, 2015) — Xtend, Inc., the Grand Rapids, Michigan-based multi-owned cooperative CUSO that ended its 2015 fiscal year on September 30th, announced year-on-year revenue growth of nearly 20%. According to Xtend President Scott Collins, the results “will not become official until our CPA firm concludes their work in the next few weeks, but we don’t expect to see a dramatic variance from our preliminary numbers one way or the other.”
Collins continued, “2015 was the biggest sales year ever for our thirteen year-old firm. Demand for our products and services exceeded our expectation across most of our business units, which re-enforces that our value proposition for mid-market credit unions is stronger than ever. The board and management team are proud of the effort put forth by our entire staff during the past year. Our client based grew significantly, and, since we are a shared resources business, we invested significantly in human resources to support the increased demand. We look forward to continued returns on those investments during our 2016 campaign.”
Collins concluded, “Our focus areas for the coming year will be the continued streamlining of business execution, investment in technology and infrastructure to support our Xtension Call Center operation and expanding our digital marketing communication client base. We have aggressive goals, but the team has already hit the ground running. It should be a fun year.”
About Xtend, Inc.
Xtend, Inc. is a 100% credit union-owned CUSO formed in 2002 with headquarters in Grand Rapids, Michigan. Xtend provides a wide array of managerial, operational, marketing, technical planning and consulting services for credit unions of all sizes. In short, Xtend is an aggregation point for shared resources that allows credit unions to deliver products and services more cost-effectively. Their strategic offerings include bookkeeping services, member contact services, back-office mortgage services, partnered liquidity opportunities, shared branching, and payment processing services. Xtend provides services for over 250 credit unions representing more than 1.2 million members and $13B in assets. The CUSO is currently owned by 90 credit union industry partners. For more information, visit www.xtendcu.com.