The brashest and most insulting lie put forth by the current senior management at SECU - and endorsed by the current SECU Board in their "Fireside Chats" last November - is that SECU "hasn't updated its technology since 1983".
Here again is the quote from the Triangle Business Journal (TBJ):"But the Raleigh-based credit union has not been known as a forward-looking IT organization, Hayes said. Changing that perception requires investment, and to do it safely, it also requires three to four years. SECU hasn’t updated its systems since 1983, and change won’t happen “overnight.”
Back in March former CEO Mike Lord and the former CIO at SECU met with TBJ's editor Sougata Mukhergee to ask for a retraction. Mr. Mukhergee confirmed the story and the accuracy of the quote. [see 3/10/2023 post]
End of story? Well not exactly....
Despite the apparent lost of a moral compass at "New/New" SECU, the truth should keep struggling to be heard...
On the SECU website you will find a chronology of significant events in the history of SECU. Here's where you can take a look [link...History of SECU].
Here's an excerpted list of a few technology changes which SECU proudly lists as occurring since 1983. It should not be overlooked that many of the other advancements in products and services were only possible because SECU had a strong IT group and a firm grasp on its' technology structure - technological astuteness made those things happen!
1982 ✅The first CashPoints® ATM machine became operational.
1990 ✅The credit union introduced ASK SECU Voice Response System for access to account information 24 hours a day, 365 days per year.
1992 ✅ The credit union joined Interlink, an international point-of-sale network.
1993 ✅ ...over 400 ATMs.
1996 ✅ The credit union began the first phase of the Call Center.
1997 ✅ The Call Center expanded its services by providing loan services, account/service information, and by opening new accounts for existing members.
1998 ✅ Visa® Check card was introduced to allow members the convenience of a card that works like a check.
1999 ✅ Introduced the credit union website - SECU Online at www.ncsecu.org. "Member Access" introduced to provide online access to accounts, products and services.
2000 ✅ ...CashPoints® ATMs in all 100 North Carolina counties.
2003 ✅ Introduced SECU’s BillPay service.
2005 ✅ Enhanced SECU website and online services features to provide greater security and more member options.
2007 ✅ Upgraded ATM network with Voice Guidance technology for the visually impaired.
2008 ✅ Implemented MARGO, a new teller and branch platform system to benefit members and employees. Provides an enhanced level of service and security through the utilization of SECU’s Member Photo ID cards, and positions SECU for future technological growth.
✅ Launched Mobile Access to allow members to connect to account information from web enabled cell phones and other mobile devices.
2010 ✅ Began offering two new electronic services – Two-Way Text Messaging and Alerts.
2011 ✅ Added EMV (chip) technology to SECU debit cards for increased transaction security.
2013 ✅ Expanded SECU Contact Centers to ten rural NC areas, aiding job creation in regions of the stateexperiencing high unemployment.
2016 ✅ Launched Mobile Payments service with Apple PayTM, Samsung PayTM and Android PayTM options, as well as Visa® Checkout for SECU debit and credit cardholders.
2018 ✅ Enhanced the ASK SECU Voice Response System with speech recognition technology and intelligent card entry.
2019 ✅ Launched the SECU Mobile App, providing a secure, convenient method for members to view account information and conduct financial transactions using smartphones or mobile devices.
2020 ✅ Launched the much-anticipated Mobile Check Deposit feature of the SECU Mobile App.
...as they say it often takes a little while for the truth to catch up with a lie - and confirmed liars. Confirmed by the facts and folks like TBJ.
What should the membership do about this?
...be sure to take a look at The #1 Historical Highlight for SECU in 2022 at "New/New" for your 2.7 million member, $50 billion cooperative (really do go back and look!). Kinda says it all about the "New/New" at SECU, doesn't it.
Regarding 2022 #1 highlight:
ReplyDeleteSame old problem all the "industry standard" financial institutions have.....
"Hey! It's not broke, let's fix it!"
Congratulations you Goofs! How does achieving mediocrity feel?
That's the member's money you're spending in case you forgot.
Industry standards is another way of saying peer averages...as a great leader once put it - "do we want to be average or outstanding? Why drive towards average!"
Delete
ReplyDeleteSo, why would a new CEO make such an outrageous statement?
…
In 2021 the Credit Union was positioned to take on new challenges.
Mr. Lord had previously authorized a formal group to start looking at new systems for the future of SECU.
We just completed two multi-million-dollar (first class) Data Center migrations.
The Board even helped choose one of the locations.
I would love to go into more detail about the Data Centers and other advancements throughout the years, but I want to keep the information private for obvious security reasons. These are not small Data Centers. This was a very high-level technical project, including many new upgrades doing the rollouts.
But I can say that the then-current SECU technical staff – management staff performed at a very high level of competency, from Data Center Management – Project Management – Security Management - state-wide Networks with many outside interfaces to the Credit Union – Applications – Technical Services tied directly into the Business lines. This was all done during a pandemic and managing (4) Data Centers.
I will always be proud of what these folks accomplished. The manager/s that backed me up were phenomenal.
I had previously worked for a few large banks. With experience, SECU was the best technical folks I have ever worked with, which included SYS/OPS and many technology-savvy business users.
Note this is not the first time we have moved to a new Data Center since 1983. JC and PM did a great job here.
My perspective as a CIO is that technology is critical to the members, organization and staff.
But there are other more important priorities.
The number one priority is the SECU members.
Organization/staff follows in line.
So, why would a new CEO make such an outrageous statement?
Why would the Board not help their new CEO, or are they the source of misinformation?
I wrote the Board many month/s ago with my questions and concerns … still awaiting a response.
SECU employees have always held the Board in the highest regard.
This board has not taken the time to understand the rich history of this Credit Union.
1937 was a challenging time.
(Can you imagine telling the original 17 members they will not get the same rate when they need a loan? … I would have liked to be in the room for that conversation.)
2023 is a challenging time.
We still have good people on the Board.
Could some of you step forward and get us back on track?
It is your responsibility!
It is time!
SECU members need SECU.
Great response Chris. Thank you.
DeleteThe board just sent out a long-winded statement to all employees reaffirming their support for Hayes and the new direction.
ReplyDeleteIt's an absolutely surreal email and reeks of desperation.
It's incredibly dumb too, since it will only serve to draw attention to these matters in people who were, until now, blissfully unaware. I'm certain there are many SECU employees scratching their head when they read the email, unsure what the board is alluding to, who will then start doing some research...
To me, that just validates the blog even more. They sealed the deal. The board is officially COMPROMISED! 🤡
DeleteWhat should members do? We should take their money elsewhere. At least with a bank we know their true [profitable] intentions.
ReplyDeleteI'm just hear to say I can't wait to hear opinions on the email that employees received today. In my opinion, and my opinion only, I sense fear. The focus on technology is simply ridiculous - they know, and we know, that there is a much bigger problem at hand than "1983 technology". I think they're all scared that the truth is (finally!!) coming out!
ReplyDeleteJim Hayes=Joke
ReplyDeleteBuffoon! No joke!
DeleteEmbarrassment.
DeleteDead man walking! Board knows it!
ReplyDeleteDead Board waliking too.
DeleteWe employees know it too.
ReplyDeleteBoard has let Captain America steer SECU into an iceberg, just like at Wescorp. Liquidity crisis dead ahead.
ReplyDeleteJim Hayes should know he has lost the trust of the employees. No matter how many times he says "you're great, you're the best" it comes off as disingenuous. He has lost the support of the staff with his past statements that were contradictory to his actions, and now his backtracking on previous remarks demonstrates that he is not the right man for this job. We all gave him a fair chance when he began, but 18 months into his leadership has proven to be disastrous. Our reputation has been badly damaged in the media, morale is at its lowest, employees are concerned for their livelihood, expenses have skyrocketed and we are bleeding money in loan losses. Jim for the sake of all the employees that you state that you love so much, do what is right and resign.
ReplyDeleteAnd quit having the desperate board send out desperate emails for you. This is the most embarrassing day of work I’ve been apart of in my 10+ years working here. I still don’t believe all 11 of them agree with all this. Hayes must be blackmailing them
DeleteLooks like at this point, even if he wants to cut and run, board wouldn't let him. Don't want to admit they have been wrong. Email today proves it.
DeleteSitting in their ivory tower. Wondering why the peasants are upset. Perhaps they should read one of Jimmy's recommended books. Pause, reflect and look into a mirror. Naw, F that! Let's just point the finger at this blog and Jim Blaine. Yeah, it's all his fault. Surely it's not us (BOD) or Jimmy. Maybe if they meditate a little harder this will all go away 🤥.
DeleteSo the BOD felt it was necessary to throw " shade" on former SECU leaders. Seems to me they are keenly aware that the former leaders are exposing the truth and they need to do damage control. The former leadership, the legacy employees along with a focus on member service enabled the credit union to become what it is today. Anyone who's been paying attention in the last year+ knows that the current CEO and BOD are not good stewards of our (members) money and are no longer focused on member service. Just ask any of your fellow members. We ain't dumb!
DeleteI had no idea about this blog before the email from BOD today. Glad they helped bring the truth to light! We employees hate our jobs now. I used to love working for SECU. I knew it was going to crap when they did away with the module program but still gave new hires the raise, along with a starting salary bump and us long term folks saw NOTHING except a 1% merit raise (which the new hires also got) :-)
ReplyDeleteNICE CX1 call center system has been a disaster.
ReplyDeleteYes. Finesse was indeed better. I was expecting a lot better. Calls being dropped are way more frequent
DeleteWe have heard.
Deleteanother brick in the wall, crumbling.
DeleteAside from the dropped calls, the functionality of NICE is terrible. Finesse did have its issues, but the functionality and navigation of it was 10x better.
DeleteSeptember 21, 2021 "If all goes well, honestly, 3 years from now I hope we are serving 3 million members... Have assets over 70Billion... And staffing levels will be increased. I don't intend to have our credit union shrink in the future...growth is the only thing on my radar screen". ----Ouch! $53billion - $3Billion = $70Billion. Sounds about right 👍. Tough I must admit, we have not reached 3 years just yet.1 year and 4 months to go. Clearly on the right track, just gotta get H.410 to pass first. I mean, nothing to do with it and it will not change anything. SECU will still be the SECU that you know and trust. Promise 🤥 🤞.
ReplyDeleteYou know, there was once a very large political group in Germany that sought to convince it's people they weren't doing anything wrong by attempting to control the narrative to hide their actions.
ReplyDeleteI have a crazy question.
ReplyDeleteSince the task to get a floor nomination is so large, what would happen at the annual meeting if the majority of attendees voted "no" on the nominations?
I assume the board members would stay until someone is positively elected but what would happen then?
This may be another avenue to take if we can not get the 500 signatures needed within the tight timeframe.
If someone runs unopposed there isn’t a vote
DeleteWe're gonna get those signatures. I feel good about it.
ReplyDeleteI'm more concerned about SECU hiring this voting "enhancement" firm. That smells like a rat already. They are trying to fix it so the incumbents have an advantage.