The End Of An Era For Prolific CUManager
ADA, Mich. - (04/19/06) -- Last month's four-way merger ofthree small credit unions into Capital Community CU may havespelled the end of a credit union career for one of the mostprolific managers in credit union history. That's because the threesmall credit unions--Spartan Stores CU, Allied Employers CU andAssociation Builders & Contractors CU--were the last of sevenonce managed simultaneously by David Sage. Sage said he and hisboards agreed to merge the final three into the much bigger CapitalCommunity CU, with its $220 million in assets, because it gave thema more secure future. The first consideration, he said, was tocombine the three. "But they still would not have the ability tocompete with the competition in our area," he told The Credit UnionJournal. Sage, now 61, said he's not sure if the credit unionmovement has seen the last of him after 35 years in the business,but for now he will be content to raise Quarter Horses on his farmin suburban Grand Rapids. Sage, who managed five credit unions upuntil last year, plans to take a year off before deciding whetherto offer his services to other credit unions, perhaps as aconsultant. "I'm enjoying this kind of life," he said.