CUSO at Nine Years and Counting

Xtend, Inc., the Grand Rapids, Michigan-based multi-owned cooperative CUSO, celebrates its ninth anniversary today. The CUSO, which officially began operating on December 10, 2002, was formed as a cooperative venture by eleven (11) credit unions and fellow Grand Rapids-based CUSO CU*Answers, Inc. as equal owners.  Today, Xtend’s products and services support nearly one hundred fifty (150) credit unions and CUSOs and boast more than sixty owners.

When asked recently to comment on being in business for nearly a decade, CUSO President Scott Collins commented that “it was a lot like someone asking you about marriage, parenthood or graduation.”  Collins then elaborates further.  “When someone asks me how old the kids are, what year I graduated or how many years I have been married it makes me a little bit melancholy about how fast the time has gone.  The same holds true for Xtend.  When I came on board in March of 2003, we had big dreams but not much of an income statement. One of my partners liked to call it ‘champagne dreams on a beer budget’ and that still resonates in our business plan even after nine years.  It keeps us grounded and makes sure that credit unions of any size and complexity are able to plug us into their business plan.”

When asked if champagne was appropriate for the CUSO’s ninth anniversary Collins followed, “We will celebrate in a typical Xtend fashion – by rolling up our sleeves to help credit unions survive and thrive.  But I think a tenth anniversary will probably warrant some sort of toast.”