Why Worry About The SAFE Mega-Merger Miscarriage? It Doesn't Affect "Us"!

   Careful now! That attitude may be hazardous... to your health!

😎 Readers here have frequently asked why so much time is being "wasted" on the west coast sell-out of SAFE CU by its Board and CEO? "Not our problem, stay focused on SECU!"

Fear such thinking is an example of the maxim : "Can't see the forest, for the trees." SAFE represents a pattern of betrayal of CU member-owners that has not yet reached SECU, but it may be a lot closer to North Carolina than you might suspect...

In fact, it might be staring you right in the face:  WRAL News - 8/21/26: "WakeMed-Atrium deal ‘deserves close scrutiny,’ governor’s office says ahead of possible merger vote" [link] Take a few minutes to read the story.

✅ While you roll your eyes with a "now what?", let me give you a few brief details on WakeMed. It was chartered in the 1960's, funded by local tax revenue bonds to provide access to affordable healthcare to local, Wake County residents [kinda sounds like a field of membership!]. WakeMed is  a community-owned, community-controlled cooperative, operating on a non-profit basis. WakeMed is tax exempt. (By the IRS definition:  A hospital or a cooperative hospital service organization described in section 170(b)(1)(A)(iii).) [kinda reminds you of a CU!]. 

Wake County is home to our capital city Raleigh and is growing rapidly, thriving economically [Sounds like Sacramento doesn't it!]  WakeMed too is prosperous, profitable with $2.5 billion in revenue, 14,000 employees - a locally driven economic engine! [remind you of SAFE?] The acquiring hospital chain is Atrium which is actually Advocate Healthcare which operates in six states - Alabama, Illinois, Georgia, North Carolina, South Carolina and Wisconsin, operates over 70 hospitals, and has 160,000 employees. Anyway, anywhere, anywho "corporate" ambitions! [Yep, BECU-like.]

As you'll note from the newspaper articles:

• The WakeMed Board tried to slip the merger by the public as a "consent item" on the county commissioners agenda - but got caught. 
• There was never any prior discussion with the citizens of Wake County about the merger. [link]
• Benefits of the merger appear at best illusory, if not totally imaginary.[link]
• Better offers by more local, state-based hospital systems have been made to WakeMed and rejected.[link] 
• The Board of WakeMed is basically giving away a multi-billion dollar asset created, funded and built by the citizens of Wake County. [link]
• Trust in WakeMed and local political leaders has reached a new low - with good reason.

😎 Nah, something like the SAFE/BECU mega-me misappropriation will never happen in the Tarheel State... nor at SECU.

  Okay then, go back to sleep... eveything will work out just fine.

The SAFE/Boeing Mega-me Merger: Will DFPI Play The Fool?

   Our hands are tied... really?

😎 Please take a moment to read (or re-read!) the exchange with a fierce critic in yesterday's post [link], particularly with the comments starting here [Anonymous August 22, 2026 at 3:55 PM].

✅ It's been a long, long trek to arrive at these facts: 

• 1) SAFE CU is a safe, sound, thriving Sacramento institution. 
• 2) The SAFE membership did not request this merger.
• 3) The SAFE Board and CEO are selling out the membership and the community for no measurable benefit. 
• 4) A majority of all SAFE members will not vote to approve the merger as required by law. 
• 5) At which time, the California CU regulator has the legal authority to approve the merger - regardless of the vote.  
• 6) Equally, the California CU regulator has the legal authority to deny the merger, regardless of the vote; but has never done so with past merger proposals.  

 ✔  We have arrived at the test question (at last!):  Given these facts, what is the duty of the State to all parties involved with the SAFE/Boeing merger proposal? Who's interests should be protected?

 Be sure to show your work...!