Xtend President Scott Collins credits the record sales performance to strong sales across the board for all key CUSO business units.  Collins states, “We were coming off a couple very strong quarters, but we were expecting an excellent start to the year and the team was able to accomplish that.  Sales were ahead of budget in our bookkeeping, member communication, and mortgage servicing businesses, but it was the demand for call center services and our new CU*OverDrive marketing service that propelled us over the top of last year’s numbers.  We are obviously very pleased with the start to our fiscal year overall, but I am especially excited with the way that our credit union partners have embraced our newest services.”

Xtend services are currently utilized by 120 credit union organizations located in 15 states.

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Solid results in each of its key business units contributed to the overall success according to Scott Collins, the CUSO President. “We were expecting the first half of our fiscal year to be solid following the strong finish we had in 2008,” says Collins, “and through the first five months each of our key business units has exceeded expectations. The success of our two newest business units, Xtension Call Center and Audit Link compliance monitoring, has gotten us off to this fast start for the year, but we have experienced positive overall growth in each of our branded services.”

February results for the CUSO’s established services, which include its SRS Bookkeeping, Mortgage Support, and Member Reach initiatives, reflected year-on-year growth in each. The group was led by Mortgage Support with a 609% increase over the same period in 2008, followed by SRS Bookkeeping at 13.7% and Member Reach at 12.7%. Collins notes that these increases are “filling a definite need in our marketplace” and that the increased revenue “a direct result of bringing more clients on board during the past year, especially in the mortgage support arena.”

Not to be outdone, Xtend’s new compliance and call center units were major contributors to the record results. Audit Link (compliance monitoring) is the CUSO’s newest service but one of its fastest growing, doubling in size since the beginning of the fiscal year. Their Xtension Call Center, which provides inbound and outbound call support for more than 20 industry partners, has already established record quarterly numbers for both call volumes and revenue with a month remaining in the quarter.

The CUSO offers a diversified array of shared resource services, including marketing, call center, e-communication, compliance, and back office mortgage support that are utilized by credit unions throughout the country. Adds Collins, “We have something to offer just about any size credit union, and I believe our strong results reflect that we are a trusted partner who can help our partners not only survive, but thrive in today’s marketplace.”

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CU*Answers claims that the link between its Sales Tracker system and Cross Sales Tasks is strong:

• Sales Tracker entries provide the way to easily follow-up on many different issues — ranging from direct mail follow-up, answering questions presented to a teller, checking out a sales lead and more. CU*Answers educates clients to think of trackers as a “reminder” of what needs to be done.
• The CU*BASE Cross sales system is used to track the status of the member follow-up (contacted, application processed, not interested, etc.) performed. In essence, a “record” of events that than taken place — as well as providing a sales “prompt” to employees and a way to track, report and reward employees for their cross selling efforts.

CU*Answers said its Sales Tracker Leads and Follow-ups system focuses employee action on making sure they call the member, by providing a tracker that is automatically filled with the member’s home and work phone numbers.

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CU*Answers, A CUSO with clients now in 16 states, announced today that within the past 6 months, seven (7) new clients have signed data processing agreements taking advantage of the CU*BASE Member Processing System. These credit unions will be converting from a variety of different vendor systems from across the country.
Recently acquired Credit Unions include:

• Aberdeen Federal Credit Union in Aberdeen, South Dakota
• First Choice Credit Union in Coldwater, Ohio
• Iosco Community Credit Union in Oscoda, Michigan
• Lenco Credit Union in Adrian, Michigan
• Logan Community Federal Credit Union in Bellefontaine, Ohio
• Northern Hills Federal Credit Union in Sturgis, South Dakota
• PCA Federal Credit Union in Rittman, Ohio

CU*Answers now has 115 Credit Unions utilizing its CU*BASE System. These newest clients represent over 34,000 new members, and projected contract revenues exceeding $2.5 million. During the past 12 months, 16 credit unions, representing over 120,000 members, have chosen CU*BASE as their core application processing solution.

Cindy Griffin, CEO of Northern Hills FCU says, “The Cooperative Business model of CU*Answers will provide us with many opportunities to serve our members better, faster and more completely. We will be able to meet most of our strategic objectives by simply partnering with CU*Answers. We would have added five additional vendors to provide the same products and services at much higher prices, not to mention the excessive amounts of employee time to set up and run the programs.”

David Chambers, CEO of Lenco Credit Union states, “The difference between a traditional data processing vendor and CU*Answers is really the difference between a mega-bank and a really good credit union: it is the power of collaboration.”

These new contract signings continue the trend of credit unions converting to CU*BASE and speaks volumes of how positively the CU*BASE product is being received in the credit union marketplace as being the best alternative data processing system for credit unions.

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• Building the Future Credit Union Network
• CU*Answers and Reed Data Partner to Bring E-Doc Power to CUs
• CU*NorthWest Adds Five Additional CU Clients; Fills Board Seats
• Expanding the Network, CU*Answers Partners with Gulf Data Systems to Form CU*South
• Revving Up Cycle Sales With Indirect Loans
• Check 21 CUSO with Corporate One
• Making Retail Dental Loans Without Pulling Teeth

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