Press

Significant growth for compliance monitoring service

GRAND RAPIDS, MI (November 17th, 2014) — Over the past year, Xtend, Inc., the Grand Rapids, Michigan-based multi-owned cooperative CUSO, experienced a continued high demand for its compliance monitoring services.  Since January of 2014, Xtend’s AuditLink support business unit saw its client base increase by more than eighteen (18) percent.

Xtend President Scott Collins noted, “Our compliance monitoring service is a three-way collaboration between our team, the credit union leadership teams and CU*Answers.  Our sister CUSO CU*Answers provides great tools and the consulting assistance to help leverage those tools.  Our team works closely with the credit union to determine an effective resource-sharing strategy.  Collectively, we focus on driving down the overall cost of compliance for those credit unions through a combination of software, professional services and shared execution.”

The CUSO reports that it now handles recurring compliance monitoring tasks for forty-five (45) credit unions across the country.

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 payment processing services.  Xtend provides services for over 180 credit unions representing more than 1 million members and $10B in assets.  The CUSO is currently owned by 82 credit union partners.

---