Shane's Letter
Shane Berger Is Retiring
December 2021
In 1964, my family moved from Teton Valley to Rexburg. Mom and Dad both obtained jobs at Ricks College and shortly thereafter joined Ricks College Federal Credit Union. Mom subsequently opened accounts for her children. Not long ago, I was surprised to find a document signed by my mother which was evidence that she had once served on the credit union’s supervisory committee. The Berger family has had a long history with and has been blessed by Beehive’s existence since the mid-1960s. My mother’s membership account number was 125 and mine was under 400. I used my account to save for college, a mission, and my first car. In April of 1985, after a mission, college, and a few years of experience with both a credit union and a bank, I was offered the opportunity to manage Beehive Federal Credit Union, replacing Ardath Carlsen, who was retiring. Almost 37 years later, I take this last opportunity to write a newsletter article and express my appreciation to members, volunteers, and employees, past and present, of Beehive Federal Credit Union.
As of January 4th, I will retire as President/CEO of Beehive. I have always looked at retirement as something in the distant future. Now I find that retirement has come with some sadness and remorse as I leave this special position. It has been a privilege, honor, and joy to come to work each day to serve you. Although there have been bumps in the road and the economy has not always been cooperative, this small member-owned financial cooperative has grown strong and has been successful. It has weathered economic storms because of the efforts of qualified employees, devoted and unselfish volunteer leaders, and the good members of Beehive who are members of the church.
I have been happy to see Beehive grow from less than $4 million to almost $500 million in assets. Membership has increased from around 2,500 to 35,000. And from our humble circumstances in a small geodesic dome building, we have expanded to five branches in four Idaho cities and online service to Church members nationwide. Perhaps even more important is the fact that our reserves/capital, which provides a safety net and allows us to serve you safely and securely, has grown from $250,000 to nearly $40,000,000. You can rest assured that this 62-year-old credit union is positioned to last and will provide affordable financial products and services to members of The Church of Jesus Christ of Latter-day Saints and their families for decades to come. Beehive was founded on the premise that employees of Ricks College should have an affordable alternative to the local banks. I am confident that the new CEO, Craig Gummow, and his team will navigate Beehive to future success by providing you with a better alternative to banks and other credit unions. Remember, you are the only reason Beehive exists. Beehive is yours. I hope you will continue to support and participate in your CU by making your needs known to the management and Board of Directors. I also encourage you to volunteer to serve as volunteers on the Board of Directors and Supervisory Committee.
Thank you all for being members of Beehive Federal Credit Union; for saving,
borrowing, and transacting with us. But most of all, thank you for the opportunity I
have had to cultivate a personal friendship and relationship with you. My wife, Jean,
and I will continue to live in Rexburg and serve a mission in the future. We look
forward to our ongoing association with many of you.
May God’s choicest blessings be with each of you.
With Sincere Appreciation,