Thursday, August 20, 2026

Why Won't A Majority Of All SAFE Members Vote To Approve This Mega-Me Mirage?

 Angry Looney Tunes GIF  "Listen up stupid or I'll have...                ... a hissy fit!"

😎 “Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity.”
Martin Luther King Jr.  

 "✅ Anonymous comment:  August 19, 2026 at 2:09 PM"

"All you're doing, in addition to making yourself look stupid is setting yourself up to have something to complain about when the regulator approves this merger. Spare yourself and us the drama - we already know exactly what your day after comment will be."

"Here are some truths you can start accepting:
1) There will NOT be a yes vote by the majority of SAFE members.
2) Of the votes, the majority will be a YES.
3) Given the lack of engagement by SAFE members, the state will use its specifically defined and lawful authority to approve the merger. In doing so, it will implicitly defer to the members who voted yes, and to the Board, who voted to approve the merger, and have a fiduciary duty to look after the best interests of members. Mark it down. It WILL happen that way."

   You're probably right on #1 & #2! A majority of SAFE members - approaching 100% - will be asked to vote on this merger without receiving sufficient information to make an informed business decision. It's not clear - and somewhat suspicious - that the SAFE Board and CEO have not even tried "to engage"  the SAFE membership about this takeover. Why not?

    Where you fail is #3!  a) In not finding fault with the cause of "the lack of engagement by SAFE members";  b)  in failing to explain - given that you readily acknowledge the lack of member engagement - why the state should not use "its specifically defined and lawful authority" to reject the merger; and lastly c) in failing to be bothered by the fact this merger is simply not a sound business deal for SAFE members:

  Financial experts see these merger benefits for SAFE members!

1]  Better rates                                            YES     NO   

2]  Lower operating costs                             YES     NO   

3]  Enhanced technology                              YES     NO   

4]  More branches/ATMs                               YES     NO   ❎ 

5]  Retain local ownership/control               YES     NO    

6]  Assured increase in community support YES     NO   

7]  In-state California regulation                  YES     NO   

8]  Return of capital to SAFE members         YES     NO    

9]  Member dialogue prior to agreement      YES     NO    

10] Will strengthen the Sacramento area     YES     NO    

 ðŸ˜Ž “Facts do not cease to exist because they are ignored.” ― Aldous Huxley 

  And of course, as you well know ... "Ignorance is bluster!"

24 comments:


  1. As for 3, I don’t find fault in your so called lack of engagement.

    ReplyDelete
    Replies
    1. Sorry Sam, it was you not me who predicted a low level engagement. Own it!

      Delete
    2. I did and I own it. Can you read? I do predict low voter turnout , because of voter apathy and indifference. There is a total of one member on record so far that opposes this. The apathy is because they haven’t been or won’t be engaged by SAFE leaders.

      Delete
    3. 9:31am Aren't you shooting yourself in the foot - or points higher up - when you honestly state in the above:

      "The apathy is because they haven’t been or won’t be engaged by SAFE leaders."

      Sam, you have confirmed the obvious point... the SAFE leaders have refused to engage the members about the benefits of this merger muck-up.

      Is it because the SAFE CEO and Board can't make their case? Seems so.

      Thank you, by the way!

      Delete
  2. I don’t need to build a case for why the state should affirm the merger with a majority of yes votes.

    ReplyDelete
    Replies
    1. Sorry Sam, it's not because you won't, it's because you can't.

      Delete
  3. If enough members don’t care enough to vote, the authority is needed.

    ReplyDelete
  4. Sorry Sam, you are out in left field again. If SAFE members were well-informed, this merger would not make it to first base.

    The state regulator is protecting the SAFE members from themselves? Says a lot about you Sam!

    ReplyDelete
  5. The state has no justification or precedent to not affirm a yes majority among voters.

    ReplyDelete
    Replies
    1. Sorry Sam, the state is fully authorized by California statute to deny the merger proposal if a majority of all SAFE voters don't approve.

      Even you agree on that fact!

      Delete
  6. I agree they have the authority to not approve. I can read the law.

    ReplyDelete
    Replies
    1. Sam, again thank you for confirming that the state has full statutory authority to deny the merger if the majority of all members do not vote approval.

      And, why would the state approve a merger that forced SAFE members into a bad, out of state takeover?

      Delete
    2. Good news for SAFE members is that they are the only ones that get decide whether the case is made. Your opinion that they haven’t is 100% irrelevant.

      Delete
    3. Sam, you keep "hoisting yourself on your own petard"! ( Translation: saying silly stuff!)

      The only person deciding whether or not this merger muck-up is approved is the lady sitting in the chair at DFPI.

      Only she will decide whether or not to sell out the members of SAFE, the Sacramento community, California, and by the way her own dept and staff to and out of state credit union.

      Delete
  7. Do you have a point of view on how the state would be justified in using their authority, given their role and scope, to disapprove the merger with in the event of a majority of yes voters?

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    Replies
    1. Well Sam, it would seem that for DFPI - the California regulator - it's called the Department of Financial PROTECTION and Innovation for a reason, don't you think?

      Or do you think it's just for show?

      If 250,000 Californians will be adversely impacted by this merger muck-up, you suggest that DFPI should just wash it's hands and let it go?

      Delete
    2. just noting you didn't answer the question. If your answers is because their title includes the word protection, that's a really, really stupid answer. we're waiting. enlighten us.

      Delete
    3. If you believe that DFPI's role is not to protect the citizens of California, I would respectfully disagree.

      Suspect they might disagree also.

      Delete
    4. both regulators approved this merger

      Delete
    5. Got that wrong too!

      https://www.secujustasking.com/2026/08/the-safeboeing-takeover-reading-between.html

      Delete
    6. 10:26am You can call DFPI stupid if you like, but consumer protection sure looks like it's in their mission statement::


      Our Mission [DFPI]

      Serve Californians by effectively overseeing financial service providers; enforcing laws and regulations; promoting innovation and fair and honest business practices; enhancing consumer awareness; and protecting consumers by preventing potential marketplace risks, fraud, and abuse.

      Delete
  8. Ever step back for second and wonder why a washed up old CEO spends months blogging on the same topic about a credit union 3,000 miles away? You need therapy.

    ReplyDelete
    Replies
    1. Sam, yes I have thought about that!

      As to therapy, you may be right. Who do you use?

      Delete
  9. Stop using "Sam", use idgit

    ReplyDelete