Xtend, Inc., a Grand Rapids, Mich.-based CUSO and partner of CU*Answers, announced total revenue of $1.68 million for 2012 as of the end of its fiscal year in September, which marks both an increase from the CUSO's $1.52 million 2011 revenue total and its largest sales year to date.
Xtend President Scott Collins said the CUSO achieved year-on-year revenue growth of 10.2%, a sales increase in every business unit in 2012 with most reaching double-digit growth numbers, and effective expense management, allowing Xtend to meet its budget from a net income standpoint.
"We have worked very hard to develop a la carte offerings within our major business units, services that credit unions can plug in quickly when they have short-term challenges or to help them enter new markets," Collins said. "I believe that our results in 2012 have not only validated those investments, but also helped put us in a position to invest over the next several years in products and services that directly support the business plans of our customer-owners."
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