GRAND RAPIDS, Mich. — Xtend, Inc., a CUSO that supplies managerial, operational, marketing, technical planning and consulting services for credit unions, on Thursday said South Bay CU, Redondo Beach, Calif., is its newest credit union stakeholder.
South Bay CU is the second California-based credit union to buy Xtend stock. The 13-year-old CUSO said it now has 83 equal owners.
South Bay CU is privately insured by American Share Insurance. The ASI website says the credit union has $84 million in total assets.
Scott Collins, president of Xtend, welcomed South Bay CU to the CUSO in a prepared statement: "Jennifer Oliver, SBCU's CEO, has been a huge supporter of the efforts of our cuasterisk.com network since we first met a half-dozen years ago. Her active participation in focus groups, leadership events and the board of directors for CU*Northwest, a Liberty Lake, Wash.-based based data processing CUSO, demonstrates her willingness to 'walk the talk' for our industry and our CUSO network in particular."
Xtend describes itself as an aggregation point for shared resources that allows credit unions to deliver products and services more cost-effectively. Strategic offerings include bookkeeping services, member contact services, back-office mortgage services, partnered liquidity opportunities, shared branching, compliance monitoring, and payment processing services.
