CUSO reaches new revenue milestone
GRAND RAPIDS, MI (December 12, 2013) — Xtend, Inc., the eleven year-old Grand Rapids, Michigan-based multi-owned cooperative CUSO, announced today that 2013 fiscal year revenues for the period ending September 30th, 2013 surpassed two million dollars for the first time. The CUSO, which specializes in providing back office, compliance monitoring and contact center services to credit unions and CUSOs across the country, saw year-on-year growth in each of its business units during that period.
Scott Collins, Xtend President, noted “The $2M milestone was definitely a stretch when we set our budget a year ago. Reaching that milestone is a testament to the great team we have built, the leadership shown by our Board and a market that continues to embrace our cooperative principles. I could not be prouder of what this team has accomplished during the past year, and the positive impact they have had on the credit unions and members that they serve on a daily basis.”
Kim Wilson, CEO of Grand Rapids Family CU and Xtend Board Chair said. “It seems like just yesterday that we were celebrating $1M in revenue. In fact it was just three short years ago. As a Board, we feel we are building something very special to help our peer credit unions become even more competitive in the marketplace. As CEO of a cooperative myself, I take great pride in the success that our cooperative CUSO achieves on a daily basis.”
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 170 credit unions representing and is currently owned by 72 credit union partners.