Xtend announces stock dividend for owners
GRAND RAPIDS, MI (January 22, 2018) — In a letter sent to Xtend stockholders, Liz Winninger, Xtend’s CEO, announced that it has issued its fourth stock dividend in four years. The CUSO’s fiscal year, which ended on September 30, included record-setting performances in total sales, year-on-year revenue growth and transactions across all of its volume-centric brands. In the letter to owners, Winninger states: “Our focus for 2018 remains on creating relevancy for our client owners. Exploit the tools that we own as a collaborative network, utilize our capacity to execute on behalf of our credit unions, and stress the system to the point where technical and process improvements are made to benefit everyone, while creating disruptive price points.”
The Xtend board of directors approved a 5% stock dividend to the owners as of the closing of the 2017 business year. “The board of directors and the Xtend management staff are committed to creating a return for our client owners,” Winninger added. “We would like to thank our owners for their support, commitment and patronage in 2017.”
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.