History/Timeline
2002
- Xtend incorporated as a start-up CUSO
- Stock issued to CU*Answers and 10 credit union owners
- Initial Board of Directors established
2003
- Hires Scott Collins as President
- Sees stock ownership grow to 27
- Elects 9 Board Directors at first Annual Stockholders Meeting
- Introduces Shared Branching Network to the marketplace
- Enters strategic partnership with Allied Solutions for insurance products and Courtesy Pay consulting
2004
- Grows to 30 owners (>255,000 members, $2B in assets)
- See revenues exceed $49K with pre-tax earnings of $34K
- First full-time Xtend support employee hired by CU*Answers.
2005
- Grows to 34 owners
- Posts revenues of $135K with pre-tax earnings of $57K
- Rolls out first branded service – SRS Bookkeeping
- Moves into new CU*Answers HQ building in Grand Rapids
2006
- Grows to 43 owners in 8 states (>375,000 members)
- Posts total revenue of $256k and pretax earnings of $35K
- Grows SRS support staff to 5
- Launches Member Reach service to beta participants
- Launches Cooperative Liquidity Exchange
2007
- Rolls out Xtension Call Center
- Begins Mortgage Servicing through its SRS Bookkeeping brand
