Xtend, Inc., a Grand Rapids, Michigan-based multi-owned cooperative CUSO, has added another credit union to its list of owners. Earlier this week, Northern Hills Federal Credit Union (www.northernhillsfcu.org) became the forty-sixth owner of the cooperative. The Sturgis, SD-based institution became the third credit union from that state to join the ownership ranks.
“We are pleased to welcome Cindy Griffin (CEO) and her team as new owners of our company,” commented Xtend President Scott Collins. “Northern Hills FCU has been a big user of our services and one of our most ardent supporters since their conversion to CU*BASE (the core data processing system from CU*Answers, Inc.), and when Cindy told me that the Board of Directors had approved the investment in the CUSO I was very excited. We have several great partners in South Dakota and we look forward to many more in the coming years.”
With the addition of NHFCU, the CUSO is now owned in equal shares by forty-five credit unions and one CUSO. The credit union owners are from eight states and represent a combined total of more than 500,000 members and $4B in assets.