Sunday, August 27, 2023

SECU Board Elections - Privacy, Integrity, Trust - Too Much For SECU Members To Ask Of "This Board"? - Part 2

https://gumlet.assettype.com/greaterkashmir/import/2019/12/integrity.jpeg?auto=format%2Ccompress&fit=max&w=1200 

[This is an excerpt of a follow-up email to the SECU Board [see preceeding 8/27 post for original ask/response], requesting information and transparency on SECU Board election procedures]

🔆 To:< Board Corporate Secretary Cc: CHARLES STONE , Michael Clements [8/26/2023]

To the Board of Directors, NC SECU Management, the Election Committee and the election facilitators:

In obtaining the signatures required by the Board to self nominate, the members had several questions and concerns not covered by the information indicated in your prior posts which is why I requested the meeting with the election facilitator. I would think that the Board would welcome opportunities to show that transparency is a priority as stated on the NC SECU website. 

I had hoped for a stronger indication of appreciation of your primary fiduciary responsibility to the membership. There are only 3 candidates who don't already have access to the election facilitator. 

Regardless, I would be happy for the Board to be the entity to ask E & Y my questions and reply to this email for clarification. E & Y still has an ethical responsibility to the AICPA, NCACPAs, and the NC State Board of CPA Examiners which is why I prefer to get the answers directly from them

My first question concerns the privacy of the ballots. I would think that the Board would want to assure the membership about voting privacy. Will any member of the Board or management of the NC SECU, either directly or through any other conduit, have any way of identifying or associating the name, account number, or other identifying data of a member with the candidate(s) they voted for? 

My second question concerns equal access to relevant information to all candidates. I also think the Board would want to assure all the candidates that each has the same access or lack thereof to the same information. Will anyone have access to the relative status of votes for each candidate in the election at any point in time? If so, who specifically will have that access? Will E & Y be reporting any of the votes cast for each candidate to anyone before the conclusion of the vote at the annual meeting? If yes, will that information be available to all? 

Having been trained in internal controls, I would like to review the plan for verifying the eligibility of the voters, the process of sending and receiving absentee ballots as established by the election facilitators, and the access to the electronic voting and summary files. In general, I would like to review the entire processes of the election facilitators. 

My other question at this time concerns how members with joint accounts will be able to vote. Has the election facilitator made provisions to recognize all parties on a joint account to vote in order to allow votes by each party over 16 on the account? If yes, will they need to or can they vote using different mediums, e. g. online vs absentee vs in person voting? If yes, can the Board add the clarifying information to the published voting information? 

My questions are not meant to be critical. I believe we have a mutual goal of conveying accurate information to the membership. "

 Sincerely, Barbara Perkins 

 

... Well, if you had any doubts about the quality of the SECU self-nominees... hope the intelligence and integrity of this request clears that little question up!

15 comments:

  1. No nonsense straight to the point, my kind of person!

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  2. Bravo!!! Perkins is already advocating for the members!

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  3. Perkins has my vote!

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  4. All are very legitimate questions for any election process. And with This Board, it is even more critical to get these answers for the membership.

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  5. Thanks for advocating for the credit union members! Keep shining the light!!

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  6. I think Ms. Perkins and the other 2 nominations are seeing what the employees have been seeing for 2 years.

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  7. I would have concerns about Ernst & Young as auditors. This SEC press release from 2022 is concerning.

    https://www.sec.gov/news/press-release/2022-114

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    1. EY will not provide a fair election. 100%

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  8. Is Putin on this board?

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  9. Well, isn't E&Y just in the board's pocket anyway? What's their motive to have integrity either? This is how capitalism works....

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    1. Exactly. The capitalists do not put value in humanity. It’s value in the market…..but then you have a thing called “crony capitalism” which is what we got here. It takes goes a step further which entails corruption of the highest degree financially to the people of the said entity or state.

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    2. This has zero to do with capitalism and everything to do with the 'integrity' of the folks in charge ...

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    3. Cutting labor costs and outsourcing is capitalism…risk based lending is capitalism

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  10. EY will go with who is signing their checks. Which would be "this board"... but the checks are coming out of all of the members accounts!

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  11. Did she get a response?

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