Xtend Announces Bookkeeping Service for CUs

GRAND RAPIDS, Mich. – Xtend, a Michigan-based CUSO owned by 35 credit unions that are also owners of multi-owned CUSO CU*Answers, has added a new bookkeeping service for CU*Answers clients to the array of managerial, operational, marketing, technical planning and consulting services it offers. By outsourcing routine tasks like daily balancing, settlement, exception reports and reconciliation tasks, the bookkeeping service is designed to help credit union staffs spend more time with servicing members. Six CUs are already using the new service, and by the end of the year, over a dozen CUs are expected to be using the Xtend Shared Resources and Staff – SRS – service. Although the service will initially focus on routine daily tasks, Xtend CEO Scott Collins said `a la carte services will be added “down the road.” “As we grow this business unit, we will work with our credit union partners to evaluate other services we can provide such as annual ACH audits, assistance closing out books, administration of fixed assets, or 5300 support,” said Collins, adding that Xtend would also like to eventually be able to offer temporary bookkeeping support to help CUs alleviate short term staffing issues.