Trust for Credit Unions

Newest Client Becomes CUSO’s Largest

For Xtend, Inc., the Grand Rapids, Michigan-based multi-owned cooperative CUSO, its newest client has become its largest.  Indiana-based Notre Dame FCU (57,000 members; $464M in assets) began utilizing the CUSO’s call center, e-communication and compliance monitoring services in conjunction with its April 1st core data processing conversion.  NDFCU migrated to the CU*BASE® data processing suite from CU*Answers, Inc.

“When NDFCU began talking to our partners at CU*Answers about a core change, they were also very interested in discussing the various shared resources solutions that Xtend could bring to the table that leveraged CUBASE®,” said Xtend President Scott Collins.  “When they completed their due diligence and selected CU*Answers, we worked closely with NDFCU to develop an effective post-conversion support solution that leveraged both our teams.  Following several site visits and solid planning by both teams, I think that each of us was anxious for April to get here.”

According to Collins, NDFCU is utilizing Xtend’s inbound and outbound call center support, as well as compliance monitoring and electronic member communication services.  The CUSO’s back office support team is also engaged for up to ninety (90) days to help provide core best practices.

CUSO Adds First Alaska-Based Credit Union Client

Xtend, Inc., the Grand Rapids, Michigan-based multi-owned cooperative CUSO is now providing member service support for its first Alaska-based credit union – Ketchikan, Alaska-based Tongass Federal Credit Union (7,000 members; $67M in assets).  Immediately following the credit union’s core data processing conversion to CU*BASE® in March, the CUSO’s Xtension Call Center team went to work fielding inbound member service calls, while its Member Reach electronic communication team began sending targeted outbound messages to TFCU customer-owners.

“We are certainly excited about bringing our first Alaska-based credit union on board as a customer-owner,” said Xtend President Scott Collins.  “When our partners at CU*Northwest (the Liberty Lake, Washington-based core data processing CUSO) first introduced us to TFCU, the credit union made it clear that they were planning to leverage some of our services in conjunction with their core conversion.  All teams did a solid job of preparing for this project, so when it came time to execute the game plan, we felt like everyone was hitting on all cylinders.”

Collins concluded, “Congratulations to our partners at CU*Northwest for managing a solid core conversion, and welcome to Susan (TFCU CEO Susan Fisher) and her team to our CUSO network.”

Shared Resources CUSO Continues on Growth Trend

During the past year, Xtend, Inc., the Grand Rapids, Michigan-based multi-owned cooperative CUSO, has experienced significant growth across all of its shared resources brands.  The CUSO reported that since the end of February 2013, its Xtension (contact center), SRS (back office support), Member Reach (e-communication), compliance monitoring and loan servicing businesses had all recorded double-digit client growth.

Commenting on those impressive numbers, Xtend President Scott Collins noted that “during the past year our CUSO has been experiencing some of the fastest growth I have seen in our eleven years in business.”  Collins attributes that growth to several factors.  “First and foremost, we have built a very compelling suite of services,” says Collins.  “Most have been designed specifically for mid-market credit unions and include a mix of both revenue-generating and expense-reducing services.  Secondly, we have built a talented staff that is vested in the success of our customer-owners.  And lastly, we operate in cooperative manner just like credit unions.  The fact that they can have an ownership stake in services that they deploy to meet their business plan makes our value proposition even more compelling.”

Xtend reported that it now serves 74 bookkeeping, 40 compliance monitoring, 89 e-communication, and 4 dozen call center clients.

CUSO Offers to Assist Clients with Quarterly 5300 Process

In light of the recent NCUA notification that fines for late submissions of the quarterly Call Report were imminent, Xtend, Inc., the Grand Rapids, Michigan-based multi-owned cooperative CUSO, and its fellow CUSOs in the network embarked on an awareness campaign to help ensure its credit union customer-owners were making timely reports.  The campaign consisted of an electronic notification and follow-up phone calls executed by Xtend’s call center agents.

Xtend President Scott Collins said, “The data processing CUSOs in our network have made, and continue to make, significant investments in functionality that helps our credit unions take much of the heavy lifting out of the quarterly reporting process.  Since we do not want see any of our clients get penalized for late submissions, we felt it was important to remind them that they have both tools and human resources to leverage.  Many CEOs in our network have shared that their 5300 reporting preparation timeline has shrunk from days to hours after engaging our team in the mapping process.  Conservatively, I would estimate that we have provided that consulting to more than four dozen of the 200 credit unions in our network, and this was our way of reminding those still doing it ‘the old fashioned way’ that they had a robust set of tools they could be utilizing.”

Collins also noted that two dozen credit unions in the utilize the CUSO’s back office team for 5300 prep work each quarter.

CUSO Adds Flair to E-Statement Notification Process

Xtend, Inc., the Grand Rapids, Michigan-based multi-owned cooperative CUSO that has sent hundreds of thousands of e-statement notifications to members via its Member Reach service over the past seven years, recently announced an enhancement that leverages hyper-text markup language (HTML) functionality to the member messages. The new functionality not only adds marketing flair to the monthly member communication, it is also executed by the CUSO at the attractive price point Xtend is known for.

Liz Winninger, Xtend’s Business Development Manager, said, “We are very excited to add HTML e-Statement notifications to our growing library of member-facing marketing messages. While some of our credit union partners have leveraged HTML functionality on their own or through a third party, a majority of our mid-market credit unions could not afford the price point of traditional vendors or did not have the staffing resources to manage themselves. When those two factors are present, Xtend typically considers that a mandate to develop a solution. Member feedback has been very positive, and my team is excited to help many more credit unions in our network turn on this new communication channel during the coming year.”

According to Winninger, eighty-nine (89) credit unions and several CUSOs utilize the Member Reach service to deliver targeted, consistent and professional electronic messages to their members and clients. | Phone: 616.285.5711 | Toll Free: 800.327.3478 | Fax: 616.285.5735
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