CUSO Notches $1M Year
Xtend Inc. said its eighth year in business has been its most productive, exceeding $1 million in revenue for the first time.
The Grand Rapids, Mich., CUSO is associated with core processing CUSO CU*Answers and has 49 credit union owners. Its offerings include bookkeeping, member contact and mortgage services, as well as partnered liquidity opportunities, shared branching, compliance monitoring and insurance services.
Xtend provides services to more than 120 credit unions and said overall revenues increased by 44.9% through July over the same 10-month period a year ago. Call center revenue doubled and compliance monitoring increased 82% during that period, the CUSO said.
"This is a significant milestone for our young company. What started as $60,000 and a dream by some credit unions to help their peers in new and innovative ways has turned into a trusted partnership for over one hundred credit unions nationally," said Scott Collins, Xtend president.