Member Spotlight: Michael Daugherty

CUNA Councils
August 23, 2010 | COMMENTS

Michael Daugherty is president of the $13-million Community Plus Federal Credit Union in Rantoul, Illinois. His background includes lending, sales, accounting, and management. He has been a CPA since 1994.

Biggest challenge

Returning to profitability after a branch expansion. It was part of our business plan to run a deficit for several years, but the recession and the corporate credit union crisis has added to the challenge.

Best advice

If you run a good operation, you can stand up for yourself proudly.

Greatest benefit of Council membership

Sharing of information, especially in the list serve.

Best part of my job

I am constantly doing something different.

Hardest part of my job

Dealing with regulatory changes.

Success story

After years of trying to compete with auto dealers' captive financing we began paying incentives for them to send us business. It isn't indirect lending, but in some ways it is better.

Biggest misconception about my job

That I am a banker.

Hobbies and interests

I like to work around the house and garden and attend my children's athletic events. I am interested in science, technology, and aviation.

Recent book

A collection of articles on the air war in the Pacific during World War II. It was published in the 1960s and contains many first-hand accounts.

Life goal not yet accomplished

Visit Australia.

Something that always makes me laugh

Irony.

Favorite quote

“Faith makes all things possible—not easy.”

Musical preferences

Whatever it is, it was most likely first played 30 years ago.

If I could spend a day with anyone it would be . . .

George Will. I may not agree with his political philosophy, but I admire his intellect and his writing. And he knows baseball like no one else outside of the game!

How I would explain the credit union difference to a prospective new member

I would provide examples. Like the man yesterday whose son died unexpectedly. The man had recently made a $5,000 prepayment on his car, but needed the money back. We took care of him, and at the end he thanked us and said only his credit union would have done this for him.