Xtend, Inc., the Grand Rapids, Michigan-based multi-owned cooperative CUSO, announced that it has added another credit union to its ownership ranks. Kenowa Community Federal Credit Union (3K members, $19.5M assets), which is based in Wyoming, Michigan, purchased an ownership block of 200 shares to become the CUSO’s sixty-ninth (69th) owner.
Xtend Board Chairman Steve Searfoss commented, “The board was very excited to welcome not only our newest stockholder in Kenowa Community FCU, but also our tenth (10th) new owner in the past year. Our CUSO is showing up on more and more radar screens as a trusted business partner, and when that translates into increased interest in participating on an ownership level, it validates that our cooperative business model is on the right track.”
Collectively, Xtend is owned by credit unions totaling more than 850,000 members and nearly $8B in assets.