Xtend, Inc., the Grand Rapids, Michigan-based multi-owned cooperative CUSO, announced last week that the board has approved a new owner of the CUSO. Great Lakes Federal Credit Union (4,500 members, $54.7 M assets), which is based in Bay City, MI, will join the group of 80 owners who each share equal parts of ownership in Xtend. Per Xtend bylaws, each credit union owner carries a block of 200 sharess.
“We are excited to welcome Great Lakes Federal Credit Union to our community of owners,” said Liz Winninger, Xtend’s CEO. “Great Lakes FCU will be a great addition, bring a new diverse position and continue to work with our shared resource offerings.”