Xtend Announces a Record Sales Month

Xtend Inc. a multi-owned cooperative CUSO headquartered in Grand Rapids, Michigan, is reporting that sales volumes in February represented the largest month in its seven year history.

Solid results in each of its key business units contributed to the overall success according to Scott Collins, the CUSO President. “We were expecting the first half of our fiscal year to be solid following the strong finish we had in 2008,” says Collins, “and through the first five months each of our key business units has exceeded expectations. The success of our two newest business units, Xtension Call Center and Audit Link compliance monitoring, has gotten us off to this fast start for the year, but we have experienced positive overall growth in each of our branded services.”

February results for the CUSO’s established services, which include its SRS Bookkeeping, Mortgage Support, and Member Reach initiatives, reflected year-on-year growth in each. The group was led by Mortgage Support with a 609% increase over the same period in 2008, followed by SRS Bookkeeping at 13.7% and Member Reach at 12.7%. Collins notes that these increases are “filling a definite need in our marketplace” and that the increased revenue “a direct result of bringing more clients on board during the past year, especially in the mortgage support arena.”

Not to be outdone, Xtend’s new compliance and call center units were major contributors to the record results. Audit Link (compliance monitoring) is the CUSO’s newest service but one of its fastest growing, doubling in size since the beginning of the fiscal year. Their Xtension Call Center, which provides inbound and outbound call support for more than 20 industry partners, has already established record quarterly numbers for both call volumes and revenue with a month remaining in the quarter.

The CUSO offers a diversified array of shared resource services, including marketing, call center, e-communication, compliance, and back office mortgage support that are utilized by credit unions throughout the country. Adds Collins, “We have something to offer just about any size credit union, and I believe our strong results reflect that we are a trusted partner who can help our partners not only survive, but thrive in today’s marketplace.”

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