SECU Board:: Risk-Based Lending - Loose Logic, Penalizing Members Who Have Done Nothing Wrong... Just Because They Can.

  

Most of us have had the unfortunate experience of "overstaying our welcome" and getting one of these.

Happens to the best of us, an unhappy experience! But how would you feel if the policeman came up to your car - just after you finished parking and feeding the meter - and put a ticket on your windshield? You'd probably ask what "the whatever" was going on, right?

And how would you react, when the officer said you were being ticketed in advance because you looked like (often called "profiling") someone who would probably "over-park". After all, you'd had a ticket before, hadn't you? "Well yes, but let me explain..."

Overcharging all "B, C, D, E"- tiered SECU borrowers with risk-based pricing uses the same, identical "pre-ticketing" illogic. There appears to be some past blemish on the member's credit history, which has lowered the score. The SECU Board no longer cares to hear the: "But let me explain..." That policy of unconcern and indifference is costing SECU members hundreds of millions of dollars in unjustified excess interest charges. 

But here is the real rub on the SECU Board's glib, hundred million dollar member-punitive overcharge. The SECU Board, aided and abetted by senior loan administration executives trying to cover their tracks (soaring delinquency and loan charge-offs), are overcharging the wrong folks - the good members!  

Who pays that extra hundred million dollars or so in interest? Why, of course, it's all the SECU "B, C, D, E" score members who do repay their loans to SECU - the good folks! - and over 98++% of those members do repay, always have! 

😎  SECU members who default on a loan - whether of A, B, C, D, or E ilk - don't pay the excess interest charges!!! How do you know that? Well, just common sense y'all. Members who default don't pay those punitive interest surcharges......

                              'Cause they don't pay at all!!!

 

Got it? Pretty simple isn't it!

 The SECU Board is willfully and unjustly "pre-ticketing" the majority of SECU members who pay as promised with risk-based lending.

SECU: Risk-Based Lending - Why Some Of Us Take It Very Personally...

    James McArthur Williams

Why do we so often become confused when taking the measure of greatness? Why are we so easily distracted - and dazzled - by the spectacle, the swank, and the swagger? Why do we so often miss who is truly important - and what really makes a difference in each of our lives?

Had the privilege of attending the funeral of a great man last week at St. Paul A.M.E. Church in downtown Raleigh [link ]. James Williams was a beloved husband, father, grandfather, brother, cousin, and friend. He married his high school sweetheart Ginger; he called her "Bread". They had two children - JaSonne Yvette and James Eric. James Williams was a veteran, 33rd degree Mason, Emeritus Board Steward in his church, graduate - and beyond ardent supporter - of his HBCU, "THE" North Carolina Central University ("Go War Eagles!"). James was a devoted family man at heart, loved traveling, and as an empty-nester, cruising with Ginger. A full life - important, meaningful.

James Williams came to work at the State Employees' Credit Union in 1973. That was 50 years ago. That seems like a long, long time ago. Much has changed in that time, much hasn't. James McArthur Williams was the first Black employee to work at SECU. He faced some unusual challenges, not of his making. But he persevered, he persisted. James Williams was a senior lender at SECU for over a quarter of a century. No individual was more important in building the reputation for integrity and fairness at State Employees' Credit Union than James McArthur Williams. With humor, grace, and kindness, James Williams navigated all the "historical difficulties"; he left a positive mark on all he touched; because he knew how you felt - he had walked in your shoes.

Thank you, James Williams, for helping me and many, many others "to better understand". 

Can an organization have a soul? As a deeply faithful "soul man", James McArthur Williams spent a lifetime showing us there is a path... 

Can you measure greatness in people and in institutions? Here is what SECU members say:

✨ "James will long be remembered as a person who showed many of us how to overcome obstacles in the world of finance. He demystified bank forms and protocols. And most importantly, he always encouraged patrons of SECU as we realized with God all things are possible!"

✨ "James was our greatest ally at the State Employees’ Credit Union."

✨ "James and Ginger are two of the warmest people you'd ever want to meet. Many state employees knew James through the State Employees Credit Union in downtown Raleigh.
Thank you, Sir!"

... it is difficult to watch an organization be diminished - by folks who don't value the common humanity within each member...