Xtend, Inc., the Grand Rapids, Michigan-based multi-owned cooperative CUSO, announced earlier today that sales for the second quarter of its fiscal year exceeded expectation, allowing it to finish with the largest first half revenue performance since the company was founded.  The seventy-eight (78) equal owners of the CUSO received word of the solid start to fiscal year in Xtend’s quarterly stockholder newsletter.

In the newsletter, Xtend President Scott Collins wrote, “Looking back on our first two quarters, which were two of our biggest ever in their own right, I search for the “secret sauce” that we could replicate moving forward.  But as with most things in life it’s a combination of what you know (our ‘roll up your sleeves and do the work’ value proposition) and who you know (relationships).  We will continue to invest in both of those ingredients.”

According to Collins, the solid performance was “spread across every one of our business units.”  Collins noted, “From a revenue standpoint, we were up 37% year-on-year, something that we could not have achieved without growth across all of our brands.  I am proud of what the team was able to deliver in the first half of the year, and excited about our ability to continue to invest prudently alongside our customer-owners.”

Year-on-year growth was achieved in the CUSO’s loan servicing (+91%), call center (+46%), back office support (+45%), e-communication (+25%) and compliance monitoring (+3%) business units.