Friday, April 21, 2023

H. 410 - House Banking Committee - The Real Truth, You're Not Being Told By The Carolinas' Credit Union League hear my grandfather tell the story, in 1937, times were tough for many state employees.  Some could not make it from paycheck to paycheck.  Consequently, they would borrow from loan sharks at exorbitant rates.  To ease these struggles, 17 gentlemen founded the State Employees' Credit Union with a clearly defined purpose and goal.  The concept was simple - a non-profit financial organization which offered a lower rate to those who borrowed and a higher rate to those who saved.  Membership was defined with a common bond - state employment.  

NC Credit Unions have continued to grow and benefit its members.  I have witnessed a renter realize they could finance a home with no money down and have a lower mortgage payment than rent.  I have watched a teacher receive a job offer but did not have a car, until they joined their credit union.  I have observed a person with too much debt believe there was no way out of the dilemma until their credit union found a way to consolidate and ease their burden when no one else would.  So much goodness in “people helping people”.

I would personally love to see credit unions succeed and thrive as they always have.

As a banker, my father had an amazing career at First Citizens Bank for over 35 years.  So, I clearly understand the distinct difference between credit unions and banks.  I believe there is a fair and equitable way for each to excel at what they do best AND provide for the needs of both members and customers.  In school I learned the valuable principle of “Sticking to the Knitting.”  Do what you do best and you will continue to succeed.  

I do not understand why the lines need to be blurred between banks and credit unions by eliminating the original principles under which NC Credit Unions were formed.  I can think of no other reason than growth and greed.


The proposed changes in HB410 do not put the needs of members first in “their” NC MEMBER-OWNED Credit Unions.Thank you for your support.

 Susie Knox Ford 

 Proud Legacy Credit Union Member


Carolinas' Credit Union League: H. 410 - The Credit Union "Growth and Greed Bill"




  1. I Love this so much! Says it all with ❤️

  2. Ms. Ford's grandfather, Mr. Knox, was one of those original "17 gentlemen" who organized SECU in 1937. Mr. Knox had a single digit share account number - #7 !!!

  3. I was always so impressed to see employee numbers in double digits but to see a single digit share account would have been remarkable.

  4. Thank you Susie Knox Ford, beautiful written and makes me proud to be an SECU employee. That is what it has always been all about, SECU making a difference in members life’s but it has definitely changed. I gave a young lady a car loan this week @11% even though it was only 50% LTV. Makes me frustrated, mad and not enjoy my job as much any more since now I feel like I am taken advantage of that member with a low credit score.
    Give me back my old SECU!!!!

  5. Damn Bob Brinson, we expected more from you. Speak up or resign at least. Or take "The GD Fool's" advice and look in the mirror! You're killing the staff of the credit union

    1. Mr Brinson, there were about 7000 employees who were listening when you made the introduction & comments about the new CEO chosen in 2021. We wanted to believe you then - you let us down - along with all the members. Which matters more to you, an outsider who is destroying our credit union or over 2 million fellow North Carolinians that are holding you accountable?

    2. How is Brinson able to look in the mirror?Knowing what they have done to the credit union and the members over the past year. He's been on the Board since 2007, through the 2008 financial crisis, through COVID - SECU showed nothing but strength in our state. Now due to 11 self serving Directors and a horrific choice of a CEO, we as members are losing many of our services and potentially our credit union if this legislation passes. Brinson should be more than ashamed for what he has done to our credit union. We have no leaders on this Board, only followers.