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FY 2011 sales up for Xtend

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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.

BuzzBanking offers rewards platform

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AUSTIN, Texas (11/29/11)--Fisoc, a social media banking firm, has developed a web-centric platform that allows credit unions community and independent banks to offer rewards that benefit both their members/customers and merchants.

BuzzBanking allows financial institution members/customers to earn points on debit card purchases and earn additional points by telling their family and friends about their purchases.

BuzzBanking has been employed by financial institutions across the state of Texas, including Concho Educators FCU, San Angelo.

Fisoc will continue to roll out the program statewide.

"Consumer spending is at its peak during the holiday shopping season and these [financial institutions] now have an option to offer rewards points to their [member/customers] for their spending and extra points and for sharing BuzzBanking with their friends, " said Jay Valanju, fisoc CEO.