For the last 85 years, SECU has made loans to all members at the same rate! This year, the SECU Board started "risk-based lending" (RBL) - also called discriminatory "race-based lending"! RBL uses credit scores to overcharge many excellent SECU borrowers. https://secuvote.ey.com/The fair rate goes to "A" borrowers, with higher loan rates charged to members in the B,C,D,E brackets - almost double the fair rate in many cases!
According to national statistics, using RBL means that on average, over half of SECU members will be paying a higher loan rate (not the "A" rate) simply because you are young, black, or female! That's not fair! https://secuvote.ey.com/
* By age:Average credit score for folks in 20's: 660 ("C" paper) https://secuvote.ey.com/
*By race:
Average score black folks : 677 ("B/C" paper) https://secuvote.ey.com/
*By gender:
Average score female: 708 ("B" paper) https://secuvote.ey.com/
SECU Members have independently nominated
3 long time members - Barbara Perkins (Raleigh), Michael Clements
(Winston-Salem), and Chuck Stone (Goldsboro) to oppose this type of
unfair discrimination by existing board members. It's time for a change for the better at SECU!
https://secuvote.ey.com/
https://secuvote.ey.com/
Repost this or link on Facebook, Instagram, X...come on let's roll!
ReplyDeleteDo we know how anonymous this election will actually be? I am sure I speak for many current employees when I say I want to cast my vote for the new nominees but fear that my vote could jeopardize my livelihood. If it were just myself I would not hesitate but as a husband and father my decisions affect more than just myself.
ReplyDeleteI feel the exact same way
DeleteDo you trust these people? Honest question ...
DeleteYes it should be in an honest world, but finding honest and truthful folks nowadays is like finding a pin in a haystack!
If you can not vote FOR the self-nominees out of fear of jeopardizing your livelihood , then do not vote at all!
DeleteThat shouldn’t matter, as a member you have can vote for whomever. I understand your concern but if every SECU employee votes, the majority should vote for Perkins, Clements and Stone then your job will be secure. As far as I’m concerned not voting will jeopardize all of our jobs.
Deletehmm. so you like what you have? okey dokey then....
Deletethat's a hard way to live. Head down, always afraid
DeleteSounds like that would be grounds for a lawsuit. Don't be afraid to vote for these candidates and stand up for your beliefs. Our CU needs to get back to "doing the right thing " !
DeleteI am appalled SECU Employees have been made to fear voting in an election in which they are eligible participants.
DeleteIt is certainly not their fault, they have had a ringside seat to This Boards' destructive decisions for SECU.
Sounds like an easy choice to me for any employee to make. Vote Clements, Perkins, Stone for a return to SECU Values. Or vote for the incumbents and the SECU we know & love will cease to exist.
Delete"Fear is a Liar"
If you are afraid to vote yourself as an employee which I personally am not. At least make sure you have all of your family and friends vote! Come on employees.. let’s stop complaining and do something about the things we have been complaining about!
ReplyDeleteYou aren't the only ones. If the election is truly fair, it will be a landslide for the 3 and I think the current BOD realizes this and will do everything in its power to sway members. So what can be done to get the true word out to members on how to vote aince employees can't promote online? And who can confirm current employees votes will not be given to staff for possible retribution? Especially after the last "confidential" survey that was done that was a lie. Sad that after 35 plus years here have to deal with this. How about an email from Leigh letting us all know we can vote how we want to without any fears since no one internal will be informed.
ReplyDeleteOr your livelihood could continue to be threatened by not voting and leaving the BOD as is. No need to fear, the rest of us are with you.
ReplyDelete"Fear not ........."
DeleteDiscriminatory Based Lending is unconscionable for a credit union coop meant to serve all members equally. It's indefensible.
ReplyDeleteClements, Perkins and Stone oppose it - all you need to know.
SEANC, who represent the very core of SECU's 1937 Founders opposed RBL and tried their best to meet with This Board? What did Ayers, Garland, Sanford and Parrish do? They met with SEANC leaders only after Risk Based Lending was already implemented statewide.
Deletethey will be out voted every time unless the others grow some courage and wisdom ...
DeleteI'm an employee and I'm voting for these 3. There is power in numbers! If we all do it, we get a chance to start fresh with board members who are listening, not just spending money.
ReplyDeleteMan, I WISH they try and fire me as retaliation for voting against them. Would be the easiest lawsuit ever.
ReplyDeleteDo not live in fear. All it takes for evil to win is for good people to do nothing. Besides, many employees will be voting against them; they can't fire them all. Stand together.
💯 Agree to every word @ 2:57. As an employee, I have spent my years at SECU with three main objectives: 1. Provide the best possible member service I can give to our Members on a daily basis. 2. Perform my job with integrity and honesty in a way that protects the organization as a whole. 3. Represent the credit union to the best of my ability inside or outside of our workplace.
DeleteWith that said, I am also a very proud Member of State Employees' Credit Union who does not fear casting my ballot on my own personal time.
Amen!
DeleteI am a 40 year legacy employee an I will proudly cast my ballet too!! Do not be afraid!!
DeleteVery important to remember SECU employees are in a league of their own. SECU has invested many dollars and decades of training employees on how to provide some of the best financial services available in the state. More than that, "Always do the Right Thing" has been instilled within the mindset for these employees from day one of employment. Doing anything to the contrary of The Right Thing is simply not in their playbook.
DeleteStone - Perkins - Clements will be the choice of the Employee/Members of SECU,
This Board can take that to their Bank.
I agree. Very strong points, 2:57, 3:42 and 8:45. I will be voting for our three self nominees, as will my family.
DeleteThere are other methods of retaliation other than just firing someone. There are methods that can be imposed that result in you quitting rather than being fired. And for a board and leadership to have shown the history they have shown over the past two years I am not believing they are above those methods. For those employees who’ve spent their whole lives with the credit union and are just a few years away from the rule of 85 it is hard not to at least consider the consequences and repercussions of an election that may not be anonymous and could be rigged from the outset.
ReplyDeletePerfect example checkout SECU's Facebook page. Comments have been removed from the earlier " We are SECU" promo with two hidden comments. But on Mr Parrish's promo, comments from Board Member Fleming campaigning for incumbents have been left ON. Where's that transparency or equal treatment for all SECU Members?
DeleteNot a good look SECU!
Share your concerns with Kristina Ray And Josh Sein
DeleteThese folks have shown they will do 'anything' to stay in power ... nothing is beneath them ... they live in the gutters so they feel right at home!
DeleteOkay look, there is no way the election will actually be rigged. Abandon that notion right now. Do you know anything about Ernst and Young? They are a massive player. SECU is small potatoes compared to them.
DeleteYou really think they'd risk their reputation rigging a vote for some random board election in NC?
No, it won't be rigged. The reason the BOD brought in a third party and opened things up to the members is because they know the advisory boards - the people that traditionally attend the annual meeting and vote - HATE THEIR GUTS. Anyone that's paying attention wants them gone. By opening up the vote to all 2.7m members, they're hoping that enough random members that aren't paying attention will vote for the incumbents based on the board's recommendation letter.
That's why we need everyone here to actually Do the Right Thing. And the right thing is to vote.
My comment about the election being rigged was about the fact that our vote will likely not be anonymous not that the outcome itself would be fixed. Poor choice of words on my part. Though Ernst and Young is not above being shady themselves as evidenced by the article posted yesterday or the day before about their history with being fined for having their employees cheat on ethics exams. And I would hardly call the 2nd largest credit union in the United States some small board election but that’s just probably pride in what we are/were before this board got hold of us.
DeleteThis is a put up or shut up moment for us. Vote them out!
Delete"And the right thing is to vote."
DeleteThe right thing is to vote out the 3 incumbents who refuse to "Do the Right Thing"!
Let's be honest about how things have changed and retaliation. Who thinks the new RSVP was the most qualified for the job? I can name 3 here in Raleigh lot more qualified. Why didn't they get it?
ReplyDeleteWho are you questioning?
DeleteWhat district is the new one in?
DeletePlease stay focused on This Board and making sure the three incumbents are not elected in October. Their vision for SECU has been proven to be a nightmare for everyone concerned. All Members and All Employees have lost something while being taken down This Board's New Direction for SECU. SECU has been in turmoil for two long years under their leadership. This Board lost their way and tried to take Our credit union with them.
DeleteVote Perkins, Clements and Stone on September 1.
Losing focus on the bigger picture with hurtful comments like this.
DeleteWe 'must' overcome with courage and conviction, there is no second place in this battle for OUR Credit Union!
ReplyDeleteThese board members DO NOT own the credit union. If they want to start their own bank, go right ahead, but leave our money alone, it's not yours!!! Your beginning to come across as thieves ....