Xtend, Inc., the Grand Rapids, Michigan-based multi-owned cooperative CUSO, announced that two credit union partners have purchased stock during the past month. Onaway Community Federal Credit Union ($71M, 10,000 members) based in Onaway, Michigan, and North Central Area Credit Union ($81M, 14,600 members) based in Houghton Lake, Michigan, each purchased an ownership block of 200 shares in the cooperative.
“The Board and I are pleased to welcome our newest owners to the cooperative,” says Xtend President Scott Collins. “Both credit unions have been avid supporters of Xtend and our sister CUSO CU*Answers for many years, and I am proud that each has decided to participate with their peers at an ownership level. In fact, I am aware of several projects that my team is working on with Scott (OCFCU CEO Scott Pauly) and Jacci (NCACU CEO Jacci Pothoof) that will be a win-win, and more importantly, a win for their members. And since each uses CU*BASE – the core data processing system from CU*Answers – our ability to offer both revenue-generating and expense reducing solutions can be done at the core level. I look forward to many years as partners.”
The credit unions became the 57th and 58th owners of the CUSO respectively.