To: SECU Board of Directors
Dear Chairman Ayers,
Congratulations to you and the entire SECU Board on the results of your unmatched leadership in North Carolina.... as North Carolina folks always say: "Well, bless your hearts!"
[Link to announcement on LGFCU]
Your "informal" merger proposal appears to be causing a little flare up for LGFCU.
They nor Hayes cares about LGFCU’s reputation right now, they are getting exactly what they want…. New members. “Growth”. The general public is upset at LGFCU, not SECU. People are trying to make the move to join SECU left and right… ask anyone who works in a branch. This couldn’t be going any better for the Executive Team
ReplyDeleteLooks like LGFCUs actions on Friday is now hitting local news reporting and when the pressure is on, all the truth will surface.
DeleteYeah not sure after watching the news clip Hayes and the Board will be able to separate themselves from the fallout over this catastrophe. Those pictures of the beautiful SECU branches are much too visible in the reporting and LGFCU members have been walking into these buildings for many years fully believing this is where they belong.
DeleteWiith branches already suffering from staffing issues caused by specializing and wfh positions- how they suppose to have the time to manage dealing with lgfcu problems and members trying to open secu accounts. Get ready for burned out staff and decline in service.Terible situation all the way around for members and employees.
DeleteHey Dwayne, would you post your member head count on the first of every month please? I'm creating a downhill ski slope graph and confident this will provide the perfect data. Thanks!
ReplyDeleteMust have used same Ceo recruiting firm as SECU. Another bad choice for the people of NC
ReplyDeleteI am still just shaking my head at the Hazy decision SECUs board of directors made on their CEO. Not gonna end well.
DeleteDoesn't have to end badly, if we just go ahead and kick this Board out...maybe help salvage local government members also.
ReplyDeleteHayes was the CFO at WesCorp FCU in CA. The NCUA placed it into conservatorship & subsequent liquidation. I see a trend here. WesCorp failed due to financial mismanagement, terrible financials, a toxic investment portfolio. And Hayes was the CEO. This is not going to end well. How do you say: RECALL the board of directors & fire the CEO?
ReplyDeleteIt's a good first step, but unfortunately the journalist who wrote this article didn't cover the true "why" the separation is occurring.
ReplyDeleteWho/what/when/where/why
Hopefully NCs version of Glen Greenwald will dig deeper into this.