Back Office Help Embraced by CU’s
For more information contact:
Scott Collins, President
Grand Rapids, Michigan – January 18th, 2011
Xtend, Inc. a multi-owned cooperative CUSO based in Grand Rapids, Michigan, reports that the demand for its a la carte offering of back office services has increased significantly during the past year. The services are delivered by the CUSO’s SRS (Shared Resources and Staff) business unit, and are designed to provide temporary assistance with bookkeeping functions during holidays and unplanned staffing shortages.
While Xtend SRS has offered stand-in services for several years, they began to more aggressively market the service during the 2010 campaign, resulting in utilization by nearly two dozen different credit unions during the past year. Diane Kilgore, Manager of SRS Bookkeeping Services, noted that her team provided “thirty-eight days of support for various credit unions during the recent Thanksgiving and Christmas holiday season.” Kilgore continued, “Our teams provide ongoing support for nearly (50) credit unions on a daily basis, so it is relatively easy for each of our specialists to add a credit union or two for a day or two. It allows the credit union to run smoother, and gives us an opportunity for some ongoing business.”
Xtend President Scott Collins indicates that a la carte services are a core initiative for the CUSO. “It is important for us to be able to complement our ongoing support business with short-term project offerings that help our partners when they are in a pinch. Holidays, leaves of absence, illnesses and even unexpected attrition are areas where we have established a track record of cost-effective and timely support. Our value proposition is providing shared resources to our network of credit unions and business partners so that they can focus on driving revenue. We are working hard to ensure our team is top of mind when they have short-term needs.”
About Xtend (www.xtendcu.com): 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, compliance monitoring, and insurance services. Xtend provides services for over 120 credit unions representing more than 800,000 members and $6B in assets. The CUSO is currently owned by 53 credit union partners.