Monday, March 20, 2023

SECU Board - Response To Open Membership Question - A Forked Tongue Answer? - Or Pinocchio # 13?

 To: SECU Board of Directors Chairman Ayers,

Members are increasingly having difficulty in believing understanding what you and the SECU Board are saying when you answer member questions. Here's yet another example where you appear to speak with a forked tongue! This comes directly from your highly-edited, highly-spliced and diced Fireside Chat video. Remember those November meetings where you gave Advisory Boards the "low down" (not to be confused with "as low as" rates, though perhaps ethically similar) on what's up (definitely not assets!) at SECU . 

You literally had months to get this right, but...

 Here is the SECU Board's written answer to the Annual Meeting resolution question on Open Membership: "It's too soon to say. " [See Fireside Chat - Full video at 22:21 or see panel below.]


And here is the CEO's answer to the same question on Open Membership: "The answer is we would like to. We would like to expand our field of membership."  [See Fireside Chat - Full video at 22:24].


Two very different answers within the space of 3 seconds! [ Fireside Chat - 22:21 and 22:24]. 

POP QUIZ: So , who is telling the truth?

口 A) The SECU Board of Directors

口 B)  The CEO

口 C) Never A

口 D) Never B

口 E)   Neither A nor  B

口 F)  We don't have to answer that.


...In the future, I would prefer to be  misinformed professionally. Thank you!




  1. Dear Jim Hayes - listen to your employees that are NOT ok with this! With the teir leading, the misrepresented, the ones that are trying to tell you open to everyone membership isn't going to be the best option. The S0's. S1's and S2's are not ok with this and before long a revolution will be ready.
    "But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and provide new Guards for their future security."

  2. The correct Answer is # E. All I saw in the Fireside Chats was reading from the cards. And of course Mr Ayers face was not quite as Red as it was at the Annual Meeting. I guess they had more time to prepare.i really don't think they will ever get IT. We are accustomed to being led by those who Talk the Talk, Walk the Walk and can if they want to chew gum at the same time.Look us in the eyes and speak truth to it...that's what made SECU a Giant in the industry. I have no doubt We will be there again.

  3. If you tell the truth, it becomes part of your past. But, if you lie, it becomes part of your future. Future not looking so bright these days. No shades needed.

    1. Speaking of Past, how many are getting tired of being encouraged to forget our past? Here in North Carolina, we were raised to "always remember where you came from." Good luck with trying to diminish the past history of SECU, this credit union's past is still being used as a model for others today and hopefully long into the future.

  4. Well ironically there are going to be hundreds of thousands of LGFCU folks looking for a credit union. How fortuitous that SECU is looking to expand field of membership. Just lucky timing I guess.

    All you smaller North Carolina credit unions out there, if you think SECU is still your benevolent big brother like it used to be better open your eyes - they're coming for your members and your very existence.

    Once they coral them all they are going to force feed them Risk Based Lending. Everyone is going to be Soooo Happy.

    Truth is that ALL the credit union members in the state of North Carolina deserve better.


  5. Would love to see a newspaper or local TV station to do a story on the “bait and switch “ lending tactics at SECU with someone really putting the screws to Haze about the non-transparent rates that are not on the website.