Several credit unions have tapped into the resources of Xtend, Inc., a Grand Rapids, Michigan-based multi-owned cooperative CUSO, to provide 5300 Call Report quarterly services. Xtend reported that ten credit unions (Savannah Schools FCU, YS Federal CU, Affinity CU, Fed Trust FCU, County Schools FCU, Wolverine State CU, MUNA FCU, Quantum FCU, West Michigan CU, First Financial CU) had transitioned the services of prepping and completion of the 5300 Call Report to the CUSO.
Danielle O’Connor, manager of the CUSO’s SRS team said: “We are excited to have this service continue to be successful for many of our clients. What we have seen is that most of our clients just need the extra time to focus on their credit union business and others needed the assistance due to employee changes. We’ve been able to provide a stand-in service for the Call Report as well. This service is a great disaster recovery plan for credit unions.”
The service is executed by Xtend’s SRS (Shared Resources and Staff) Bookkeeping team, which also provides a variety of accounting and loan servicing solutions for credit unions.