The Credit Union Perspective
By: John Normandeau, President/CEO
BestSource Credit Union
It's Time to Get Financially Fit!
"He is as creative as he is tenacious, both in
the courtroom and at the bargaining table."
— Detroit Medical Center CEO Mike Duggan
years he handled complex commercial
and class-action litigation. "After eight
years in Lansing and Rochester, I was
glad to come home to our neighbor-
hood," he said.
While in Rochester, Gov. Granhom
called on him again to mediate a
complex dispute, this time between
the Detroit Medical Center and the
Wayne State University Medical
School.
"It involved the financing and con-
trol of their joint physicians' residen-
cy program, and a wrong outcome
could have been financially devas-
tating to the city of Detroit:' Fink
intoned. "But we settled the whole
thing in two-and-a-half weeks."
His efforts drew praise from
Granholm and Mike Duggan, CEO of
the Detroit Medical Center. "David's
intelligence, persistence and determi-
nation allowed the parties to reach a
resolution many thought was impos-
sible," said Duggan. "He is as creative
as he is tenacious, both in the court-
room and at the bargaining table."
When Granholm left office in
January, she received a spate of nega-
tive "performance reviews" on her
two terms from news media outlets
and columnists. In her defense, Fink
points out that she governed in "very
difficult times; but she balanced the
budget each year for eight years, and
helped diversity Michigan's economy
by bringing in some employment
from overseas firms and new busi-
ness from organizations like the U.S.
film industry."
He added, "History will be kinder
to her than some of her constituents!'
Granholm even left Fink with a leg-
acy, appointing him to the Michigan
State Officers Compensation
Commission for a term expiring in
2014. The commission sets the sala-
ries for all state officers, including
state Supreme Court justices.
At his new firm, Fink is assisted by
Jewish attorney Darryl Bressack of
Huntington Woods, a University of
Michigan Law School graduate with
five years of experience; Fink's, wife,
Amy, who serves as his office man-
ager; and some contract employees.
The firm is already involved in
some complex class-action cases,
and he beams when he talks about
them, leading a visitor to believe that
the more complex the case, the bet-
ter. He's the lead attorney in a class-
action suit on behalf of thousands of
owners of General Motors vehicles
with On Star driver assistance sys-
tems. They contend the change from
analog to digital numbers, without
instructions to drivers, rendered the
system useless. "And GM wants $15
per vehicle to do the fix," says Fink.
He's also the lead attorney in an
anti-trust case against the Whirlpool
Corp., which claims the company
conspired to fix the price of compres-
sors on refrigerators and freezers.
"David just understands the practi-
calities of every case he's involved in,"
said Eugene Driker of Detroit, who
has known Fink for 20 years. "He's
energetic, creative, well prepared
and always displays good common
sense." As a member of the Wayne
State Board of Governors, Driker
was closely involved with Fink in the
DMC-Wayne State discussions. "We've
both participated in cases where the
other has been a mediator, and we've
been on the opposite sides in the
courtroom. He's a real professional!'
High-Tech
Facing off now against larger law firms
doesn't seem to faze Fink."With the
many technological resources we have
today, there's no reason why small law
firms can't take on larger firms',' he
said. "I'm confident we have the abil-
ity to litigate in the courtroom against
anyone. And we can respond more
quickly to clients' needs because we
don't have the bureaucracy of larger
firms. We don't even have cabinets
with file drawers here; everything is
electronic.
"I now have more technology in my
pocket than large firms used to have
in their entire office."
Fink mainly uses a laptop; a Smart
Phone, with which he can check court
filings, do law research, and take pho-
tos of sites involved in lawsuits; and
an Ipad, with which he can pull up all
of his files and, while in court, access
the transcripts of depositions by wit-
nesses.
"These innovations allow us to
focus directly on the needs of the cli-
ent," he said. Pi
John Normandeau, CEO
Just like you go to the doctor for a yearly check-up, it's
important to get a financial check-up too. At BestSource
we are committed to improving your financial life. That
means that we can help you evaluate your portfolio of
financial products and help you determine next steps to
achieve financial well-being.
Review your checking account statement - Banks are restructuring their checking
accounts and adding fees. Take a look at your statement next month and see if you have
any new fees. If so, it might be time for a change.
Time to start a budget - The dreaded "B" word that no one likes; however, establishing
a budget is a great way for you to find out really where your money is going, not where
you think it's going.
What does your deposit portfolio look like? - Do you have an established emergency
fund? Do you have enough money to retire? How are you saving for your child's college
education? This is a great time for a free consultation with our financial advisor. He can
review your deposit products, look at your financial goals and help put together a
financial plan that makes sense for you.
What rate are you paying on your loans elsewhere? - Depending on what your rates are,
you might have an option to refinance an auto loan or consolidate credit card debt and
save big dollars.
At BestSource Credit Union our mission is to improve our members' financial lives.
If you would like someone to down and review any of these areas with you stop by a
branch or give us a call at 800.666.4500 to see how we can help you achieve your goals.
For more information, visit www.bestsourcecu.org .
IBEST SOURCE
Improving Members' Financial Lives
CREDIT g UN ION
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248-46444-8565
April 14 a 2011
57