During the first four months of its fiscal year, Xtend, Inc., the Grand Rapids, Michigan-based multi-owned cooperative CUSO, has experienced increased demand for its compliance monitoring services. The services, which include a variety of à la carte and packaged offerings, are marketed and supported collaboratively with Xtend’s CUSO partners in the cuasterisk.com network—CU*Answers, CU*Northwest and CU*SOUTH.

Xtend President Scott Collins noted, “Our compliance monitoring services have experienced solid growth during the past two years based on the regulatory environment of the mid-market credit unions we serve. Utilizing our team to execute some of the log management tasks on a daily, weekly, and monthly basis, allows our customer-owners to drive down their overall cost of compliance in order to not only survive, but thrive in an increasingly challenging marketplace. And since all of our clients utilize CU*BASE^®—the core data processing platform from CU*Answers—we are able to scale to meet growth demands based on our close relationship with the CU*Answers product development team.”

Collins indicated that revenues for Xtend’s compliance monitoring business unit grew by 22% year-on-year and the number of clients under contract has grown by 15%.