Sunday, March 19, 2023

SECU/LGFCU - "No "Formal" Merger Proposal" Malarkey - Affects 400,000 N.C. Folks - Hari-Kerry for LGFCU? Pinocchio # 9

 To: SECU Board of Directors Chairman Ayers,

No one's buying your, shall we say, "specious" " "formal" proposal to merge"  explanation. Your careful choice of words speaks volumes about you and the SECU Board.

Reckless leadership always has this case to @ 400,000 North Carolinians who rely on LGFCU for local service and rely on the honesty and prudence of the SECU Board - "formal" or informal.



Photograph of Dwayne Naylor, CEO

Dear Fellow Members,

As an independent Credit Union, we do not plan to offer the traditional branch experience.

First and foremost, thank you to those of you who attended our Independence Summits and shared your stories and great ideas for the future.
Members gathered to dream and design a credit union which is built for the future.
As I said at the summits, “We are not running away from SECU, but are running toward our members.”
This means that your ideas and input are and will always be important to us.  While we welcome member feedback at, no official member vote will be taken.

We're excited about our independence journey and what it means for our members — those who serve North Carolina.

Dwayne Naylor
Chief Executive Office



"I was really surprised at Dwayne – He didn’t know or couldn’t answer a lot.  Even in the Q & A part of the Summit, Mark Caverly carried the load in answering questions.  I knew this situation was going to be bad but they don’t have a good answer for anything.  They didn’t give a plan.  Found out that they got blasted out at the first meeting because of the lack of transparency.  Must be something in the water."    

 ...."this is a cluster**** on top of a dumpster fire!" - Say What???


  1. I attended and listened to the fireside chat too. Many said Mr Naylor carried himself well. Maybe I’m ‘Mr/Ms Obvious’ - 1) members act like they can’t live without branches 2) SECU seems to lack ability to meet board mandate of better tech 3) discontent with SECU executive team….so maybe the tech all members need + a CEO that knows it are staring us all in the face. SECU brings the branches and the staff that know how to serve members.

  2. Naylor is just as bad. My grandmother is local government. How is she suppose to do digital banking? She’s used the branch for years. And you know a lot of families are going to be dealing with the same issues. “Running towards our members” is such a propaganda motto. More like running away from the membersship….your membership wants to use the branch!!!

  3. At the branch level we have yet to have gotten answers to very basic questions: What if I need more cash than the ATM allows? What do I do about safe deposit box? What if I need a notary? It’s difficult telling people we’ve helped for years “I don’t know, check the website.” Poor service is putting it mildly.

  4. "We do not plan to offer the branch experience" does LGCFU lack the capital to build branches or is this a way for LGFCU CEO and his "executive team" to capitalize off LGFCU members by paying themselves (upper management) more without distribution of funds to the peasant employees and branch upkeep? "Running to our members" I guess LGFCU also has a crack marketeer team or might be using the SECU marketeer team until the split! Another note! Has anyone also noticed SECU "colors" have changed to Blue, Green and Orange. Wonder how much this cost of member money.

  5. It is time for a Go Fund Me initiative to finance a state-wide billboard campaign with this blog’s address. All SECU and Local Government Credit Union members should see the narratives discussed on this site. Are Local Government CU members hurting themselves by joining SECU where RBL is concerned? Will Local Government CU maintain the lending interest rate structure once they have the infrastructure to act independently from SECU?

  6. Dwayne, what happened to you man? You are not the same person I worked with years ago at SECU. SECU blackmail or threaten you somehow? Force you into this digital rabbit hole? Speak up brother, you don't have to be known as the guy that destroyed LGFCU. You're too smart not to know you're screwing hundreds of thousands of LGFCU members. Time to speak Truth to Power!

    Your members and SECU members will rally behind you if you have the courage to come clean.

  7. Are other people wondering how JOINING WITH A DIFFERENT credit union is gaining independence? How a strictly digital platform is running toward the members? This has me bum fuzzled. I feel they want no part of Gym Haze and his cronies and saw no other way out. What do I know, though. I'm "just a teller".

    1. -War = peace
      -Slavery = freedom
      -Ignorance = strength
      -Eliminating branches = enhanced member experience

      They didn't really think LGFCU members would buy this, right? Very 1984ish. Can't blame LGFCU leadership from wanting to separate from Gym Haze and current SECU Board though.

  8. Mr Naylor, you and your Board have 400,000 North Carolinians depending on you as their lifeline to financial services. If SECU kicked you out, say so. That changes things. If not and this was your best idea it ain't good enough - try again.

    Please tell your members this isn't all you got. Please tell them you have something more than a slogan and a logo and an internet connection. Who's going to provide their financial services? YOU? Not if this is your big plan. You have a greater responsibility than you can possibly fathom. They are depending on YOU. The credit union uses words like commitment, ethics and integrity. These words are the backbone of a life spent building something to serve others. What are YOU going to do?

    YOUR members deserve better.

    (My apologies to Jack Nicholson.)

  9. From a branch employee's perspective...when asked by our LGFCU member what does all this mean? We have no rips our heart out! These are the folks we have served for years and years, built strong, solid relationships with. We look in their face, we don't see SECU or LGFCU. We see Our members who are counting on us to help them. Some Members, who check our history...were once SECU Members until 30 years ago when the "Banks, that other institution" created this issue. But yet, now Haze, his Exec Team and the BOD's want us to be just like the Banks. Keep following that Industry Standard folks right out the door. Does anyone have any doubts as to why SECU, the Giant and Best Credit Union in the Nation up until 2021 followed the idea of "Promote from Within"?

  10. Pulling a billboard out in Raleigh would be the way to do it!

    1. Or rent one of the digital billboard trucks and have it slowly circle the building on Salisbury St. I'm not sure the 1983 technology can block that...