😎 Well, guess it is "leadership"of a sort...
✔April 29, 2008 - A new Chief Financial Officer (CFO) for Wescorp (a California credit union with $23 billion assets)...
✔ Wescorp is conserved a year later (2009) by federal regulators, Board and senior staff sued for breach of fiduciary duty...
... in 2021 the SECU Board did a nationwide search to find the best candidate in the U.S. to lead SECU - what can one say?
(Yep, but don't say it in front of the children!)
To the Board of Directors: Even if you believed in the beginning Hayes was the right person for the job, heck even if you STILL believe it, the whole train is off the track. You have to make a change, even if the worst you can say is that it turned out to be a bad match, that sometimes things just don’t work out. If you don’t have the intelligence, hindsight, foresight - whatever, you’re going to be responsible for being at the wheel during the demise of one of the most successful financial institutions in history. This is now all on you!
ReplyDeleteDear God…I’m going by my local branch tomorrow to discuss what’s going on with the branch manager I use to work under. Surely SECU isn’t going down this road. I use to work at SECU for a few years and I loved my time there. The 4on4off schedule. The 401k. Job Security. Tech was somewhat older than what I’m using at my current job, but it got the job well from what I remember. I wanted to go back after I left but I’m glad I haven’t after catching wind over this on Facebook. This new CEO seems to have left a bad taste in a lot of peoples mouths.
ReplyDeleteHow could this have happened! I just do not understand!
ReplyDeleteHayes was The Man to implement the Board's agenda. He is doing that and doing that well. Thia is the Boards agenda. they hired him. They hired around 30 lawyers. they have changed the bylaws to make it almost impossible to oust them. They have gotten emails from members but are proceeding with Hayes and their destructive policies. Now what are the financial benefits for the Board? The Board would not send a well run institution that looks after its members off the rails like this Board has unless their is something in it for them.
DeleteSounds like the credit union has turned into a fascist state.
DeleteSounds like Board Compensation and Benefits has been put on the table. Ayers, Garland, Sanford, Moon wants their piece of the SECU pie. Gym Haze proved to be the right person who would get it for them.
DeleteI didn't think a state-chartered CU in NC was allowed by law to compensate board members. Anyone know differently?
DeleteRemember this corrupt bunch since Day 1 has been all about trying to change the laws, the bylaws, the structure, the culture...anything and everything that doesn't fit into their agenda.
DeleteI still prefer to stick to the actual facts in these discussions. Speculation can lead to rumor and exaggeration, neither of which helps the credibility of this blog. And neither is necessary because there are enough facts to paint an accurate picture.
DeleteWhy didn't they go ahead and hire Jeffrey Dahmer? Couldn't be any worse
ReplyDeleteVery interesting to see Hayes was not only CFO of WesCorp, before that he served four years as *Resident Examiner* for WesCorp. And he didn't know what was going down in that organization? In control of the financials but not aware of the discrepancies and losses. Very concerning after hearing of recent Audit Procedure changes at SECU, no more peer reviews, maybe they just have Resident Examiners now too? Very controlled, don't you think? Can't have those Legacy employees involved in the audit process any longer. Definitely a troublesome pattern forming for Hayes and SECU. Appears he didn't just bring WesCorp baggage to SECU. Read Glassdoor reviews on him 2019 -2021. Team Andrews' employees had plenty to say about his CEO style and swagger: selfies & fake FB posts with Team Andrews, Upper Management Bonuses, only Executives count in his world, Members didn't matter, and much more. One even refers to him as the now removed CEO, that post date was August 2021 by an IT employee. All this in print for Ayers, Sanford, Moon and the others to read, had they done their due diligence. So that leaves us with the burning question, what is the SECU Board of Directors gaining from naming and supporting Jim Hayes as CEO of North Carolina's largest credit union? Looking forward to...the rest of the story...
ReplyDeleteThat’s why he hired Carl Seabrook from Andrew’s Federal Credit Union to be the HEAD OF INTERNAL AUDIT!!!! How much obvious could get it that something is going on
DeleteAnd why Gymmy wanted those RED BOOKS burned!
DeleteHe hired Carl Seabrook from Andrew’s Federal Credit Union to be the HEAD OF INTERNAL AUDIT:
DeleteGuess during his tenure in Wescorp and Andrew's the self(ie) lover boy played the roles of the 3 wise monkeys or mystic apes Mizaru 🙈, Kikazaru 🙉 and Iwazaru 🙊.
Since he had already perfected them, he's playing these roles to a T here. "EXCEPT" the 3 wise monkeys in "HIS" world symbolize: see no right path, hear no wisdom, speak no truth.
So what does it say about the SECU board that chose this monkey and is still clutching on to it like a leech and not letting it go even now? When all the shenanigans are being outed? When all the members and employees (old & new - other than those who came in via the friends & family deal or those who benefited by including themselves in the chosen circle) are on edge? When all of them are pouring their heart out here in the only forum available in fear "anonymously" since there's nowhere else to go or no one else to turn to?
Or, is it the board in SECU's case playing this role really well? Since it's dealing with the impropriety of the lover boy's past and present by turning a blind eye.... And benefiting themselves in the process maybe? Why else is this still dragging on and has reached this stage?
Reiterating:
Past board vs Present board:
THE END
Recent member poll: Q: Did secu board hire a crook? A: Which one?
ReplyDelete