H. 410 fundamentally changes the traditional purpose, structure, and focus of North Carolina credit unions. We've talked about those issues in the past - particularly in the April 5, 2023 post, which is a detailed letter on H. 410 to Representative Matthew Winslow (Franklin/Granville County area). The Carolinas' Credit Union League says "taint so!".
Our Legislators in the House have a dilemma - actually two! The primary sponsors of H. 410 are Representatives Julia Howard (Mocksville/Davie County area) and Representative John Bell IV (Goldsboro/Wayne County area). First, Ms. Howard is the longest serving representative in the House and is highly regarded by the constituents in her district - reelected time and time again with 70+% of the vote. She knows what she is there for and good at it!
Mr. Bell also is long-serving and effective. Most importantly, Mr. Bell is the Republican Majority Leader in the State House. As the Majority Leader, he is principally charged with "making things happen" - or not happen - among Republicans in the House. Both folks you would not want "to cross". If you did, your effectiveness in the House would be impaired, your future in politics perhaps endangered.
With Ms. Howard and Mr. Bell as primary sponsors of H. 410, it would be reasonable to assume the bill has been "wired" for passage in the House from "Day 1". In most of our personal and business relationships, we take people "at their word"; and like it or not, that's what makes the world go 'round. You just have to take folks at face value, assume the best, trust them - until their actions prove different. The State Legislature works the same way - and that's the way it should be, if they want to get the business of the State done.
Credit unions are a minor or unknown issue to most representatives. Why would they "risk their political neck" over something inconsequential like "Credit Union Updates" - especially if Ms. Howard and Republican Majority Leader Bell had put their political reputations solidly behind H. 410, as "primary sponsors"? The answer is they wouldn't, unless...
Unless the Carolinas' Credit Union League had under-informed and misled Representatives Howard and Majority Leader Bell...and you could prove it beyond the shadow of a doubt.
What do you think your representatives would do if you showed them - beyond a shadow of a doubt - that the information on H. 410 was inaccurate and misleading? What do you think their constituents would do, if their representatives proceeded to vote - despite knowing the truth - for H. 410?
This "little matter" of truthfulness and trust - called H. 410 - is not "going away"... in fact, looks certain to blow up with the public very shortly...
Would Ms. Howard and Majority Leader Bell knowingly send their colleagues "down the tubes"?
So readers, what's your take?
... bet the House "D's" sure hope the "R"s bring H. 410 to the floor "for debate"!
Representatives Bell and Howard, it's not too late to withdraw your support for H 410. You've been misled by the CCUL and SECU. This bill may be good for the CCUL, credit union CEOs and their Boards but it is not good for your constituents, credit union members. Why risk your reputations and political capital to support a bill that will have a tough time becoming law and would hurt so many hard working folks? Please reconsider your support.
ReplyDeleteOn the surface, this bill probably seems harmless. Helping NC Credit Unions seems like a good thing to do, right?
ReplyDeleteI'd guess it will take years before the damage caused by this bill will become obvious. Even then, how many will look back and blame this bill?
I fear the damage would show up much earlier than that, look at how much damage has been done to SECU since Haze and Airs starting calling all the shots.Those Haze mistakes just keep coming.
DeleteWhy would SECU, the 2nd largest credit union in the nation be so interested in expanding their membership field in the state of North Carolina? Hint: it's not about helping members and it's definitely not about supporting smaller credit unions in the state.
ReplyDeleteand it has NOTHING to do with the state of North Carolina
DeleteIt has to do with money. Business/Corporate accounts. Corporate/Business membership. Business lending. What do you think will happen once/if business membership occurs. Policy and interest will no longer be on the members (us peasants) but on the corporate/business membership. The corporation/business itself will have a vote at annual meetings and who do you think they will vote for or better yet install on the board.
DeleteTake a look at who is the chairman of our board. A wolf in sheep clothing. Just do a quick Google search and you will see.
ReplyDeleteIt appears the CCUL has responded aggressively. “The Advocate” weekly newsletter had an article front and center titled “ACT NOW! Ask lawmakers to support HB 410.” It appears to be targeting a mass support campaign to silence independent voices that have been individually emailing their representatives. Much in the same way as the SECU Executive Team and Board of Directors has done this last 18 months. The newsletter includes “A League Toolkit” for “Credit Unions and marketing staff” to use to “act quickly.” Furthermore, there is a website associated with CCUL in support of the HB 410, complete with a “Click to Support NC House Bill 410!” button. Cannot fathom this is not in response to the drove of negative emails representatives have been receiving from their local constituents. Is this a move directed at silencing transparency? It seems manipulative to attempt a massive support campaign with a click here button that does not clearly identify the obvious issues raised by HB 410. How can we respond aggressively and get the word out? Appears SECUjustasking.com needs a click here to oppose HB 410 button to report opposition directly to legislature as well.
ReplyDelete