CUSO Stock Price to Increase

The Board of Directors of Xtend, Inc., a Grand Rapids, Michigan-based multi-owned cooperative CUSO, recently announced that it will be increasing the price of new stock ownership effective January 1st, 2012.

“Based on the growth we experienced during our recently-completed 2011 campaign, the CUSO Board supported management’s recommendation to increase the price of new stock purchases to $23,000 effective January 1st,” declared newly-elected Xtend Board Chairman Steve Searfoss (AAA FCU, South Bend, IN). “The current asking price of $19,500 will remain in place through the end of the year, so we encourage any credit union partners who are considering joining our cooperative to take advantage soon.” The stock offering for the cooperative has grown steadily since its initial $5,000 price in 2003.

Searfoss noted, “We have come a long way as a company during our first nine years, and the Board felt it was important for our buy-in price to reflect not only our stellar 2011 performance, but also our vision of a bright future for our CUSO and the credit unions we serve.”

The CUSO expects to report record sales and income for its recently-completed fiscal year (September 30th) when auditors complete their work during the next several weeks.