Mike Daugherty, Community Plus FCU
December 1, 2023 -

When Mike arrived at Community Plus FCU in Rantoul during 1995, the credit union and its field of membership was at a crossroads.  The credit union was founded to serve Chanute Air Force Base civil service workers.  The base was founded in 1917 and decommissioned in 1993.  The credit union board thought they should look for a big company to serve as their new sponsor.

Under Mike’s leadership, the credit union pursued a different direction by focusing on their community which led them to become a Community Development Financial Institution (CDFI) and put them on the path to success.  “Home prices in Rantoul dropped during the mid-1990s and lower income people moved to the area seeking more affordable housing,” said Mike.

“I want to see credit unions be a force for good and to move from credit unions as a best kept secret to a more prominent role,” said Mike.  He believes strongly in the role of financial cooperatives and CDFI mission.

Mike’s career at Community Plus FCU almost did not happen.  He interviewed for the CEO position and was not selected for the role.  Following the interview, Mike reached out to the Board Chair to say he appreciated the process and to keep him in mind for the future.  A few months later, the job became available again and Mike was hired.  He credits his philosophy of “don’t give up” and “don’t burn bridges” for finally landing the role.

“My world opened up in credit unions when I got involved with Alloya by serving on a committee which let to opportunities to interact with people I might not have met otherwise,” said Mike.

His dedication to the credit union movement includes serving as a board member of Alloya Corporate Federal Credit Union, a member of the ICUL Small Asset Credit Union Advisory Committee, a board member of Credit Union Political Action Committee (CUPAC), and a member of the Consumer Financial Protection Board (CFPB) Credit Union Advisory Council.

This year, Mike was inducted into the Illinois Credit Union League Hall of Fame with a Leadership Award and into the Credit Union House (Washington, DC) Hall of Leaders.  However, his most prized award is plush Hershey’s Kiss given to him by Joni Senkpeil.  “At one of the early SAS (Small Asset Size) Conferences, an NCUA speaker gave out Hershey Kisses candies to encourage questions.  Joni gave me the stuffed one to thank me for answering so many questions on the small credit union listserv,” said Mike.

“Credit unions can be the place the people can fit it because they are more accepting and open,” said Mike.  “I love the fact our credit union’s first board of directors included a woman all those years ago.”

Small credit unions are a great place for people to gain experience in a broad range of areas from lending to marketing to back office and everything in between, Mike added.

Earlier this year, Mike and his wife, Susan, moved to southwest Michigan where they built a home.  They chose the area for its cooler climate with trees and rolling hills.  Mike looks forward to enjoying outdoor activities and is happy to turn over mowing grass and shoveling snow to the homeowner’s association.

Writing and history classes are on Mike’s agenda as he plans to take classes at nearby Western Michigan University and a local community college. “I wanted to major in history but couldn’t see how I could get a good job with it,” he said.  “I’m looking forward to moving from writing policies to something people will want to read.”

Mike and Susan raised four children, including their oldest daughter with special needs. “My wife gave up her career to care for our daughter, Elizabeth.  Our other three children Sam, Luke, and Rachel are young adults who live in Central Illinois.”

Travel is high priority.  He wants to visit all 50 states and only has 6-7 left to complete the full list.  A driving trip to the northwest states is planned for fall 2024.

“It’s been a great ride,” said Mike.