The $18.9 million, 3,000-member Kenowa Community Federal CreditUnion in Wyoming, Mich., has become the newest part-owner of XtendInc. in Grand Rapids, Mich.


Kenowa Community FCU became the CUSO's 69th ownerwhen it bought an ownership block of 200 shares, Xtend said, and its 10th new owner in the pastyear.


“Our CUSO is showing up on more and more radar screens as atrusted business partner, and when that translates into increasedinterest in participating on an ownership level, it validates thatour cooperative business model is on the right track,” said SteveSearfoss, the Xtend board chairman and operations manager at the$58 million AAA FCU in South Bend, Ind.


Xtend said it now offers member contact, shared branching,compliance monitoring, insurance and other back-office services tomore than 150 credit unions.

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