✅ Mr. Hayes was not the principal problem at SECU, never was.
✅ The principal problem remains: "How did Mr. Hayes ever arrive at SECU as CEO in the first place? "
✅ The "problem lies" elsewhere...
Do The SECU Membership A Big Favor...
... make the rest of us smile!
I don’t understand. The disdain for the membership is insulting. This boards rule is hurting the entire financial health of the membership and the employees and all the communities across the state of North Carolina. Just because this Board wants to pursue serving the elite and businesses. Not state employees and their families..This Board seems to really like being a board member so much so that they are rigging it up to stay on. How can we as members make them want to leave? What about this outside firm running the election? Who are they? Why do that this year?
ReplyDeleteWhen everything comes out on just how much damage has been done to this credit union over the past two years, these Board Members won't need to worry about serving on any other boards in the state. Ask around in your community about them, they are becoming well known.
DeleteThis whole business is saturated in odeur de skunk. Two well respected former CEOs who served with integrity, oppose this Board and its actions. Is Hayes well respected? Does Hayes have integrity? What about this Board? What about Leigh Brady? What , what. WHAT HAS HAPPENED TO OUR CREDIT UNION? How did it go so far astray? Must be this Board!
ReplyDeleteNaming a CEO without a full hiring process by This Board is not the normal procedure or industry standard This Board so desires. Did Ms Brady promise to follow through on Hayes' promises to this Board? Could this be the reason proper protocol was not followed last week?
DeleteEach and every board member is the root cause of all evil - disastrous 2 years. 85+ years of hard work and integrity wiped out without effort. Building anything is hard. But destroying it is very easy. This board is an outstanding example to prove it.
ReplyDeleteYou would think someone on This Board would have an ounce of decency left and stop this nonsense. Every single thing they have done over the past two years has cost the members. They are Losers and continue stacking up those losses, but we the members will be the ones paying the costs starting with the SIx Million Dollar Haze start up package.
DeleteFor them to follow through with voting changes when they know those changes are opposed by a very large group of members? This is not about the credit union, not about the members, not about the employees - This has become all about just This Board of Eleven. There is a reason they are fighting against the membership. Just as the 6.5 Mil surfaced so will all this group's dirty deeds.
ReplyDeleteWhere and how soon can we (if at all) view the minutes?
ReplyDeleteA very sensible request. Let’s stick to the facts instead of speculating.
DeleteHow’s the meeting turn out or go?
ReplyDeleteWhy can't the SECU Membership petition to remove the entire Board at the Annual Meeting? Surely there is something in our bylaws that protects the membership against losing control of their credit union to an unfit, arrogant and out of touch Board of Directors? This Board's actions over the past two years has repeatedly gone against the membership and appears to be driven by their own pursuit of personal gain. Knowing they paid Hayes' former credit union 6.5 million simply to drop him on SECU's doorstep is incomprehensible. This CEO proved to be an utter failure from the start and his resignation was most welcomed by the membership and staff at SECU. This Board's next move is to immediately name a replacement CEO without going through the proper process of hiring for a 50 Billion dollar credit union. Another rash and untimely made decision which may not end well for the credit union. By now, EVERY action of this Board appears questionable in motive and judgement. Only one way to avoid further damage to our credit union is to replace all these Board of Directors.
ReplyDeleteMy biggest concern in all this is; I have never served with any other board or heard of another volunteer Board who would continue to go down the path this SECU Board has chosen. Seems this Board is out to destroy, not serve SECU members and our credit union. And the unanswered question is still, why or for how much?
So the National Credit Union Administration (NCUA) should have overside over rogue boards but as you know they all sleep in the same bed together.
ReplyDeleteNCSECU is a state chartered credit union so it has another layer of oversight, the State regulator/administrator of credit unions. It was Rose Connor, but she retired in June. She also got captured by SECU and Dan Schline. She spoke in favor of H410 at the hearing in the North Carolina house. Don't know who replaced her. Looks like the membership ,4.7 million of us will have to work this one out ourselves.
DeleteFellow employees: Do not comment on the other blog, they can track your IP address now that they created a website. So do not comment if you are an employee with an opposing view.
ReplyDeleteand you can bet the fed is right there instigating opposing comments... it's what they do best ...
DeleteThe goal is takeover a member owned cooperative credit union. They will do anything at this point.
Deletethe World Economic Forum (WEF) and the International Monetary Fund (IMF) would like to control all financial systems down to each and every account. But that's for another day ....
DeleteExactly. There is a bigger scheme at play that is worth getting into but it’s on a global macro level that is for worth another day of discussion. They are trying to bring SECU to heel essentially because we are the outsiders that do it better and they can’t have other banks or credit unions following this model of running an organization.
DeleteWho pushed the use of the NYC search firm? Why pick a firm with no credit union expertise?
ReplyDeleteis there any chance that this board would halt RBL? it's really hurting a lot of state employees who dont have Leigh Brady for momma? Do you think she has had time to reflect on her SEANC speech? Sure wish she'd go out and work in the trenches...might change her perspective on life for most members
ReplyDeleteIn all this tug of war - ego & power push and pull, the members are the real victims and losing.
ReplyDeleteBomba initially talked about making SECU the #1 in the nation. His sidekick from First Citizens Lee Chalk (I “think”) came up with the #1 brilliant idea and - why not? why not #1? was the question. Was he trying to show it to First Citizens - see what you lost by not humoring me? When presented, bet the board loved this rhetoric and gobbled it up like there’s no tomorrow.
It's NOT about being #1. It is about growth of the institution in a steady constant pace. When you let that happen #2 will become #1 on its OWN without any harebrained schemes. History has proved it.
The greediness on all parties concerned has lost SECU 3 billion dollars in 20 months. How much more is to come? Those who have no clue about money and managing money are running this place.
After causing all the losses when it's time to cut and run these guys will drift - just like their buddy Hayes - to the next place without ANY remorse or even a morsel of consciousness.
Every single one of them is playing with members livelihoods. It’s the average member who suffers the pain.
me thinks this board must be ok with losing 3 billion ... else things would change ... wouldn't they? (other than replacing one CEO insider for another) I mean do they even respond to questions? We live in strange times ... nobody is held accountable for their actions and they don't even have to answer questions about them ... it's like dealing with juveniles.
DeleteHistory has proved. How to win (85 years) and how to lose (20 months).
DeleteAverage member suffers the pain and 'pays' for it.
DeleteLee Chalk. Another non-visionary visionary.
DeleteI would imagine Bomba will leave on his own as soon as he finds something. Have heard him talk negatively about Leigh Brady several times over the last 20 months. Why would he want to stay and work for someone who he has no respect for. Jim won't be here to save him.
ReplyDeletemaybe there is a position at Andrews ... lots of money floating around up there nowadays...
DeleteHopefully Boombastic hits the door. Since he's been around the systems have been worse than they've ever been. There's a running joke amongst branches in my district for when everything goes down or we can't do our normal morning sign on, end of day, computers freeze in the middle of helping members, etc - "Thanks, Josh! You're doing GREAT!" Maybe Leigh will help "encourage" him to leave. Gymmy isn't around to protect him.
DeleteThe longer he is here the frequency of system issues increases. Daily now.
DeleteShe's never had any problem encouraging so many of our good employees to leave, the bad ones should be a piece of cake for her.
Delete