cuasterisk.com Credit unions gain more time to focus on Members!
The Xtend Financial Services CUSO is now supporting more than three dozen credit unions through its SRS (Shared Resources and Staff) Bookkeeping Services business unit. These clients are utilizing Xtend SRS for a variety of daily balancing and reconciliation services. Xtend offers this service to credit unions starting at $150 per week. Clients utilizing this service range in asset size from $5 – $200 million.
Currently, these services are provided to clients utilizing the CU*BASE processing system. They are intended to help credit unions achieve higher levels of productivity by outsourcing routine balancing tasks, which typically require dedicated staff time. Services include balancing member records and change fund, corporate check and money order reconciliation, ACH, ATM and Share Draft settlement, reviewing dormant account activity, exception reports, mortgage escrow analysis, and more.
Xtend claims utilizing this service is allowing credit union staff to be more focused on revenue generation and one-on-one member service activities. Each member of the Xtend SRS Bookkeeping team performs balancing services for an average of 6-7 credit unions daily. Moreover, the SRS team is also supporting every newly-converted CU*BASE credit union for an initial 90-day period.
Scott Collins, President of Xtend says, “Our SRS Bookkeeping continues to fill a valuable service niche for the CU*BASE ownership community. The success of this business unit has laid a solid foundation for future SRS service offerings. Our involvement in new client conversions has given us a new perspective on value that we can add for our partner organizations.”
About the Partner
Xtend
About Xtend (www.xtendcu.com): Xtend, Inc. is a 100% credit union-owned CUSO formed in 2002 with headquarters in Grand Rapids, Michigan. Xtend provides a wide array of managerial, operational, marketing, technical planning and consulting services for credit unions of all sizes. In short, Xtend is an aggregation point for shared resources that allows credit unions to deliver products and services more costeffectively. Their strategic offerings include bookkeeping services, inbound and outbound member contact services, back-office mortgage services, partnered liquidity opportunities, shared branching, compliance monitoring, and insurance services. Xtend provides services for over 100 credit unions representing more than 1.2M members and $8B in assets. The CUSO is currently owned by 56 credit union partners.
