LAS VEGAS — Multi-service provider Xtend Inc. has received NACUSO’s 2011 CUSO Collaboration and Innovation Award.
The Grand Rapids, Mich.-based CUSO was honored for its ability to deliver critical services to credit unions and their members, according to NACUSO.
“Xtend's openness to share their model with the industry, even if they do not participate in Xtend, exemplifies the cooperative spirit the industry is built upon,” NACUSO said during a ceremony held Wednesday at its annual conference in Las Vegas.
The association said it was impressed with Xtend’s ability to offer “an accessible, scalable model that provides measurable value to participating credit unions in both back-office and member-facing capabilities.”
Formed in 2002, the Xtend provides bookkeeping, member contact, back-office mortgage, partnered liquidity opportunities, shared branching, compliance monitoring and insurance services. Xtend is an affiliate of CU*Answers.
Earlier this year, Xtend announced its first-ever stock dividend return to its 52 owners. The CUSO’s board of directors also voted to increase the price of stock for the first time since 2008.
NACUSO also recognized CU Structured Finance LLC with an honorable mention. A wholly owned subsidiary of TMG Financial Services, the CUSO was formed in September 2010 to help other CUSOs secure and collaterize their debt needs in the mortgage market.