Xtend, Inc., the Grand Rapids, Michigan-based multi-owned cooperative CUSO, and ClearChoice Holdings (www.goclearchoice.com), are in the process of deploying a unique 0% interest online shopping solution at several credit unions that are part of the cuasterisk.com network. These credit unions are leveraging the ClearChoice platform that was developed as a credit union-friendly alternative to rent-to-own, predatory lenders and employee purchase programs. Through this solution, members and non-members are able to make pre-approved online purchases of everyday household items, take delivery of those items and pay for them interest free over a typical term of six to eighteen months.

Scott Collins, President of Xtend commented: “We are excited to bring the ClearChoice program to our customer-owners. We believe the success of these early launches will convince a significant number of our credit unions to offer this niche lending solution to their members who might traditionally seek other non-traditional financing routes with hidden costs and stiff penalties. Recent national studies have put a number of between 40% and 50% of Americans that would be unable to afford a $400 emergency expense. We believe the ClearChoice solution is a great answer for members in those difficult situations. Moreover, we believe it reflects the core values of our industry and should help them attract un-banked consumers to their cooperatives.”

Collins noted that ClearChoice is a Premier Partner of the CUSO, and that the collaboration on the marketing, data mining and client on-boarding efforts between the two teams has been excellent. “The pipeline is strong and the early launches will be great references,” added Collins.

Launches include credit unions in Washington DC and Michigan.