... North Carolina Credit Unions Matter.
To: The North Carolina Credit Union Commission
April 9, 2024
My name is Jim Blaine. Thank you for the opportunity to address the Commission. Over the
last ten months we have been unsuccessful in gaining your attention and
action. Ten months. And still, you remain silent.
The nature
of our complaint is that the Administrator of Credit Unions has failed, perhaps unintentionally, to uphold the laws of North
Carolina. When such an assertion is made, North Carolina law vests the Commission
"with full power and authority to review, approve, or modify any action
taken by the Administrator." And still, you remain silent.
Ms.
Ford has presented you with documentary evidence, that as a qualified
member of her credit union; she was denied the right to seek
self-nomination as a board member. The Commission has been asked if you
agree all state-chartered credit unions have the authority to deny this
basic member right? Fundamental cooperative principles, federal law, and
credit union bylaws are clear such arbitrary exclusion is not
permissible. And still, you remain silent.
Yesterday, Ms. Ford's credit union - inspired by a sudden
fervor for democratic principles - has once again revised its board
election procedures; affirming that they will continue to deny Ms. Ford
the right to seek nomination by her fellow members. And still, you remain silent.
Apparently
with the blessing of the Credit Union Division, Ms. Ford's credit union has
used "anything goes" bylaw amendments to prohibit member discussion at
the Annual Meeting by ignoring standard rules of order; to proscribe
the consideration of any member motions or resolutions; to deprive member-nominated board
candidates of any forum for reaching members with their views; and now
desperately squirms and twists with new election procedures, to further
thwart the basic democratic rights of its members. And still, you
remain silent.
Jean
Blaine has pointed out that your Administrator has appeared before the
N.C. State Legislature in support of H410. This bill was presented as a
series of "minor updates", when in fact the bill is a major rewrite of
North Carolina credit union laws. We all should be ashamed of this
intentional legislative deception. And still, you remain silent.
Open membership, corporations as
clients, out-of-state commercial lending, and higher risk investments
do not meet anyone's definition of minor. The future of North Carolina
credit unions is up for grabs. And still, you remain silent.
The financial well-being of over 3 million North Carolina credit union members is under attack. Much is at stake. The entire Country is watching what is occurring with the Commission, and is listening.
And still, you remain silent.
Would you please speak a little louder? We're having difficulty hearing you.
