FERNDALE, Mich. — Credit Union ONE Board Vice Chairman Richard J. Bahls never imagined that a job with the Detroit law firm of John F. Langs working with the Michigan Credit Union League in 1953 would lead to over 50 years of credit union service.
"Before my work with Langs I'd never heard of a credit union," said Bahls. "There happened to be a vacancy on the Ferndale Co-op Credit Union, which is now Credit Union ONE and I guess they thought it would be advantageous and cheaper to have a lawyer on their board. So I was nominated and elected without opposition and it has been a rewarding and educational experience for me ever since."
An attorney with Bahls and Shamblin in the city of Lapeer where he specializes in Municipal Law, Probate, Administrative Law and Trial work, Bahls enjoyed his service to credit unions so much that he only recently has resigned from the board. He even served as board chairman for 40 years, accepting the role of vice chairman in 2002. Throughout his years of service, he remained active on several sub-committees of the board, the Oakland County Chapter of Credit Unions, and the Michigan Credit Union League.
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With board members that represent the various economic and social challenges faced by CU ONE's diverse membership, Bahls credits any subsequent growth and progress to great communication not only among the board members, but also between the board and the executive staff. In general, the board meets monthly, but Bahls adds that flexibility is key so special committee meetings are held periodically whenever necessary. To stay updated on the latest in the credit union movement, in addition to reading an assortment of industry related publications and attending educational sessions, the board is encouraged to attend applicable seminars and conferences. Bahls says while recruiting new board members is a challenge for all credit unions, of equal value is board experience.
"I don't believe in term limits because experience is difficult to calculate, define, and quantify. How does one define one's own experience in resolving personal financial concerns or professional achievements," said Bahls. "What matters is to find qualified people. That means looking for honesty, the ability to communicate and most important an eagerness, a willingness to learn. A person that is set in their ways whether they are young or old is not a useful board member. A great board member is open to learning innovative ways of doing the same old thing and knows when it's time to step down." A staunch advocate for the credit union movement, Bahls has led the way in support of grassroots consumer advocacy programs, protecting consumer choice in the marketplace, and providing more value for consumers to belong to a credit union. "What drew me to credit unions is that they were helping people resolve real life problems that might, some day, confront me," said Bahls. That dedication to making a difference in people's lives is one of the reasons why Bahls is against the current trend of credit union-to-bank conversions. "I have represented individuals and families that have owned a large block of controlling stock in various banks. Everyone has a selfish interest in maximizing the value of his or her holdings. Conversion to a bank aggravates this situation. No one cares about the little guy in bank problems," said Bahls. "The beauty of credit unions is that a shareholder is not crushed by the holdings (unrestricted) of his neighbor. I have never understood the 'so-called advantage' for the members to convert their credit union to a bank. It seems to me that the advantages are for larger stockholders. Unless the conversion to a bank has some sort of preferential dividend scheme in mind for some."
Bahls says while there is hard work and intense competition ahead for credit unions he's very optimistic about the future, but cautions that credit unions have to be careful.
"It wouldn't surprise me if state and federal laws were changed to permit governments to get into the financial services business, making loans, etc. for citizens. But as long as we as a movement continue to focus on satisfying the needs of our members we can stay ahead of any competition," said Bahls.
Don't count Bahls completely out of the credit union game just yet. He has been named director emeritus at Credit Union ONE. With the additional free time, he can spend more time with his family.
"I've led an active and interesting life and I'm looking forward to what's ahead both personally and for the credit union movement," said Bahls. –[email protected]
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