The "We Are SECU" New Strategic Plan? Spend, Spin,...

    ... and Tailspin?

 ✅ Just some unexpected turbulence? https://www.wral.com/story/state-employees-credit-union-fixes-glitch-that-affected-customers-accounts/213910

✅ Or something more "Boeing"...

The Death Spiral Effect [Business 101]: definition and key characteristics

"A vicious cycle of self-reinforcing dysfunctional behavior, characterized by continuous flawed decision making, myopic single-minded focus on one set of solutions, resource loss, denial, distrust, micromanagement, dogmatic thinking and learned helplessness."

"The Death Spiral Effect sets in when a cascade of events is difficult to stop once set in motion. A Death Spiral is characterized by: 

1. initial denial of the problem;
2. continuously and repeated flawed decision-making, often trying to fix the problem with the same ineffective solution over and over again; 
3. increasing secrecy and denial, blame and scorn, avoidance and turf-protection, passivity and helplessness; 
4. worsening of the situation, and a continuous series of crises following, 
5. triggering a “survival mode” and tunnel vision,
6. a negative and distrustful atmosphere; 
7. micromanagement increasing the number of rules and a focus on the adherence to those rules at the expense of effective problem-solving; 
8. censorship of opinions and knowledge outside the official narrative."

😎  "The desperation principle may set in: a defensive mode in which people or groups aggressively and often irrationally try to hold on to the little resources that are left, instead of thinking on how to snap out of the situation altogether."

... Boeing, Boeing, bong?

 

 

The SECU Board Has Just Announced A Pull Back from Race-Based Lending! Or has It...?

   It appears that the SECU Board has adopted new lending policies for RBL!

✅ Instead of having 5 punitive interest rate tiers (A,B,C,D,E), now there are only 3 punitive interest rate tiers (A,B,C)! The "D & E's" have been eliminated!

Finally an admission by the "We Are" Board that their RBL policies are not only unjust [see how it discriminates here]?; but are also financially disastrous - as soaring credit losses and delinquency so painfully demonstrate [see rising losses here]?  

Progress at last? The "We Are's" are finally listening? Refunds will be made to members who have been overcharged? A new day is at hand?  

✅ If not, why the change?

... not so sure Rosa Parks would be grateful to learn that "she will now be allowed" to move up to the "middle" of the credit scoring bus.

 

....  wait a minute, wait a minute! Hold your Rosas: Isn't the new "middle-C" tier now - still! - the back of the bus?  

And what do you mean "D & E" have been eliminated?