GRAND RAPIDS, Mich. (11/29/11)--Xtend Inc. a Grand Rapids, Mich.-based multi-owned cooperative credit union service organization, reported a record performance for fiscal year 2011.
Sales for the fiscal year ended Sept. 30 totaled $1.52 million, surpassing the previous high of $1.33 million in 2010.
Overall sales grew 14.9% year-over-year, led by the CUSO's mortgage servicing and member reach business units, which were up 44% and 34%, respectively, from 2010 figures.
"There were signs all around us that the credit unions in our market space would continue to seek creative, innovative, and most importantly, cost-effective solutions in their front and back offices," said Scott Collins, Xtend president. "Whether it was due to increased regulatory activity, a struggling economy, competitive pressures or all of the above, we had to be ready to help the credit unions in our network respond to a very challenging marketplace."
Xtend provides managerial, operational, marketing, technical planning and consulting services for credit unions of all sizes.