The board of directors for Xtend, the Grand Rapids, Michigan-based multi-owned cooperative CUSO, has appointed Carma Peters to a two-year term as board chair. Peters is the president and CEO of Pontiac, Michigan-based Michigan Legacy Credit Union and has been serving on the Xtend Board of Directors since June 2014. The change comes after Mark Richter completed his two-year term as Xtend’s board chairperson in 2019.
“We are very thankful to Mark for his two-year term as board chair,” said Peters. “I look forward to the opportunity to serve as chairperson, alongside each of my fellow directors. Xtend continues to build momentum for its partner credit unions, CUSOs and members.”
Peters has been president and CEO of Michigan Legacy since 2014. She began her career in the credit union industry in 1979 at Alcoa Employee’s Credit Union in Bettendorf, Iowa and built her expertise in credit union management in Maryland, Washington D.C., and Wyoming before relocating to Michigan in 2003. She is also on the fundraising committee of Crime Stoppers of Southeast Michigan and active in 2l42 church at the new Monroe campus. Peters has started a charity euchre tournament “Euchre Change a Life” in Monroe that benefits Haitian school children through Haitian Christian Ministries.
The Xtend board has also appointed Chuck Papenfus, CEO of Fontana, California-based Inland Valley Federal Credit Union, as vice chair and Michael Abraham, CEO of Chicago, Illinois-based First Financial Credit Union, as secretary/treasurer.
The Xtend Board of Directors is responsible for providing the governance and strategic vision of the Xtend CUSO, including financial oversight and ownership dividends and stock prices. For more information, visit the Xtend website.
About Xtend, Inc.
Xtend, Inc. is a 100% credit union-owned CUSO formed in 2002 with headquarters in Grand Rapids, Michigan. Xtend provides a wide array of managerial, operational, marketing, technical planning and consulting services for credit unions of all sizes. In short, Xtend is an aggregation point for shared resources that allows credit unions to deliver products and services more cost-effectively. Their strategic offerings include bookkeeping services, member contact services, back-office mortgage services, partnered liquidity opportunities, shared branching, and payment processing services. Xtend provides services for over 250 credit unions representing more than 1.2 million members and $13B in assets. The CUSO is currently owned by 81 credit union industry partners. For more information, visitwww.xtendcu.com.
About Michigan Legacy Credit Union
Michigan Legacy Credit Union (MLCU) is a member-owned, not-for-profit financial cooperative serving members who live, work, worship, attend school, or own a business in the state of Michigan. Michigan Legacy Credit Union is committed to providing quality financial services at a competitive price delivered professionally and efficiently while keeping member/owners and their needs first. For additional information on MLCU, visit: www.michiganlegacycu.org.
