How the SAFE Board & CEO tried to pitch the promise of a mammoth merger with Boeing...
Apparently, SAFE members had an extinctly different perspective on how a merger would affect their hometown and credit union...
California law requires a majority vote of all credit union members to approve any proposed merger.
Looks like the SAFE membership refused to let the SAFE Board pull the wool over their eyes and the majority of SAFE member said "tsk, tsk" or "tusk, tusk" to the proposal:
Trick Or... Trick?
Over the last year, the SAFE Board of Directors and CEO have encouraged SAFE members to bury their CU alive. And hauntingly, to vote to make it disappear! Pretty spooky stuff!
Chip Filson pointed out in a recent blog [link], the horrifying voting choice that SAFE members confronted [A real " BOO, BOO"?]:
🔲 Voting Yes - Spine chilling!
"If members vote yes, their 85-year-old, $4.5 billion independent, high performing credit union is turned over lock, stock, and barrel to the leadership of another organization. A credit union for which they had no role in selecting, and received no information about the new leadership, its business plans or what they will do with SAFE’s assets." Buried alive!
"If members vote no, they are stuck with leaders who gave up on their credit union’s future. SAFE’s leaders spent over a year in secret negotiations to hand over 245,000 member-owners to another credit union in return for the right payoff [$15+ million in treats!] for themselves." Macabre!
🎃 Witch would you choose?
