SAM K. NEWMAN
SUNSET BEACH, NORTH CAROLINA 28468
Tim O’Connell, Executive Director
North Carolina Retired Governmental Employees Association
528 Wade Avenue
Raleigh, North Carolina 27605
Dear Mr. O’Connell:
I was just shocked and disappointed to receive your letter dated September 6, 2023 endorsing 3 incumbent board members for the State Employees Credit Union board election coming up in October. First of all it is not your mission to become involved with SECU board elections. Secondly, and most importantly, your advice is just wrong. Just so you know my background and why I know what I’m talking about, I was on the SECU Board of Directors for several years about 17 years ago. I humbly suggest that I know more about SECU business than you do, so I feel confident in saying your letter is out of bounds and just plain wrong. In your letter you assert that the opposition candidates “only represent a small faction.” How could you possibly know that; have you taken some kind of poll? Secondly, you make reference to “the progress that has been made.” Please tell me what that progress is? All I know is the current board hired someone as CEO who didn’t last very long in his position because of some foolish policies he intended to make. I’m not sure which of these policies the current board intends to keep, but the fact that they hired a CEO who was not suited for the job is enough to justify some changes on the board. I would be interested to know how much research you did in the current operation and policies of the current board before you made such an important solicitation for the reelection of the current board members. I suspect not as much as I have done to oppose their reelection.
The SECU has run for many decades under their traditional policies and practices. As a member I never worried about the safety of the money I have with SECU until the actions of this Board of Directors. Your letter is inappropriate and just wrong. I suggest that you quickly send out a letter of apology and rescind your endorsement of these board members. NCRGEA should endorse no one for this election.
By the way, I’m so upset by your letter that I do not intend to renew my membership.
Sincerely,
Sam K. Newman ID 100111556
... 'spect Sam might be getting one of those "abusive letters" from "de Judge"!
This board offers nothing to their members. They get paid to go eat a free lunch together (paid by the members they abuse), and tell themselves how great they are and think they're important. Just more dangerous intellectuals running things into the ground and calling it progress!
ReplyDeleteThis board and apparently the board of NCRGEA, are unable to think for themselves and rely on industry consultants and outside hires to tell them what to do. Out side hires said "this is how everyone does business." This board said ok. NCSECU has been going south ever since. Took a wildly successful business model and in two years have wreaked total havoc. 85 years destroyed in less than two. The entire this board needs to resign immediately. Why on earth is NCRGEA helping dismantle NCSECU? Thank you, Sam Newman for speaking out!
DeleteI tell you why! A million reasons why! $$$$$$$
DeleteYep, There is no right way to do the wrong thing!
DeleteMemo to board:
ReplyDelete"Don't be seduced into thinking that that which does not make a profit is without value."
Arthur Miller
"Two roads diverged in a wood and I - I took the one less traveled by, and that has made all the difference."
ReplyDeleteRobert Frost
SECU - "There WAS a difference"
Everyone and their mamas at home know back door dealings have been done with NCRGEA and SECU. Confess and Rescind the letter, crook! The BOD are awful people. I actually disagree with Mike Lord…he is still kind enough to have sympathy for the BOD and believe them to be good people. I however do not! They are awful people if they are willing to go through all of this to screw over millions all just to get rich!
ReplyDeleteThis probably hurt Tim’s feelings, too. And easy to see that Judge Cozart’s firm is over there making a pretty penny off all this! All these institutions are busy spending member money on lobbyists, lawyers, advertising and NOT in their members’ best interests. Thanks for speaking up, Sam! Bet this groups sticks to their guns just like SECU’s board.
ReplyDeleteIt’s funny how a volunteer board and another entity’s board know more about SECU business and day to day operations more than the secu employees and former employees. Odd. They don’t even work here and they apparently know our jobs better than we do and know what’s best for us since we can’t think for ourselves.
ReplyDelete“Here comes the judge! Here comes the judge!”
ReplyDeleteFlip Wilson
“Welcome to the house of Sam, say yer prayers varmint!”
ReplyDeleteI agree with Sam. If This Board had not went against SECU's history of promoting from within for CEO, we probably would not have suffered through the past two years of wasted money and bad decisions. The credit union had plenty of good people within to continue leading SECU in the right direction. This one decision alone cost them all my votes. Not forgetting they sold us out for a six million dollar fast talker who had no clue what we Members in NC wanted from our credit union. And I am done with NCRGEA as well - hoping the small faction will send both Boards a clear message in a couple weeks. Vote, it is extremely important!
ReplyDeleteNo. Can't blame Gym Haze. He was the mouthpiece for this board. They hired outside because this board wanted business loans and RBL. He was hired to implement those policies. and countless other bad ones too! Yacht parties and money guns(with SECU logo!!??), starting with 6.5 million this bard paid Andrews Federal CU. Rot at the heart in this board.
DeleteSmall faction my a**
ReplyDeleteLOL...these small minded, arrogant Board Members think it all begins and ends in the Triangle. SECU branches are in every county in the state and have been serving folks for years who know they are Member Owners and they don't like what This Board has done to their credit union. Here's to proving "word of mouth" is still one of SECU's most productive ad campaigns at $0.00 cost to the membership.
Delete10 days left to vote online!
Clements. Perkins. Stone.
O'Connell and Mike Taylor made the memers of the NCRGEA board look like lackey fools. cozort needs to send those two a letter
ReplyDeleteCozort probably didn’t realize before taking this on how dumb these boards are. Mistake after mistake. Pot hole after pot hole. Lie after lie. Constant paranoia and desperation.
DeleteO'Connell needs to do the right thing at this point.
DeleteSam and Bob of the Triangle in '24! It will take 2 more rounds to put all these crocks on the road!
ReplyDeleteKristina Ray….are you seeing this? Are you still working? Must be on summer vacation….must be nice.
ReplyDeleteShe’s as much of a joke as her predecessor. Shame on her, too. Wake up people!!!! All of these regulators, lawyers, and board members are in each others’ pockets and busy taking as much $$$$$ as possible from credit union members’ pockets. It’s only going to be a wave of informed member owners that make the difference here. Power to the people.
DeleteMay the light shine into the darkness of the minds and hearts of these leaders ... amen
ReplyDeleteYeah, we’ll send them some thoughts and prayers.
Deletethank you ...
Deletesecu has become covid-23 endangering everything it contacts. NCRGEA just latest victim. don't blaime them
ReplyDeleteKristin Ray should rescind the bylaw approval Rose Connor made on her last day in office(on changes approved by SECU board 2 days prior--usually a 60 day review process!) Changes including NO NEW business at the annual meeting!! Let's win this one overwhelmingly!! This board would shut us out completely if they could--trying awfully hard! Out with this board! Vote Clements, Perkins Stone!
ReplyDeleteHas anyone - from the board to the folks who rushed to support the current board, admitted they made any bad choices? Or do they keep digging their heals in, engaging lawyers and crisis management consultants? The people who contributed to driving SECU off the road, aren't the people that know how (and are willing) to fix it.
ReplyDeleteit would be Nice for a change if someone would just humble themselves a bit and admit they made a mistake ... but that's pretty much an anomaly. To be a great leader you must also be humble IMO. After all it's what you learn after you know it all that counts. (BTW, they don't view their actions as a mistake, it's just the cost of doing business as 'they' say).
DeleteI think they know exactly what they are doing. In their eyes, they aren’t making a mistake. The only mistake they believe they made was getting caught and being stupid about it! They are after the SECU money big time and won’t stop till they get it. No matter how clumsy and foolish they are doing it!
DeleteThey’ve been caught red handed many months ago…it’s time to make some arrests.
ReplyDeleteVOTE! We have a Credit Union to save!
ReplyDeleteAnd talk...every conversation with another member is an opportunity for more votes to elect Clements, Perkins and Stone.
Delete'they' have squandered 4 billion dollars ... in 2 + yrs ...
ReplyDelete$4,000,000,000
.... think about that for a minute ...
Almost seems that Jesse James gang is running things!
let's hope thatT aylor and O'Connells idiocy is the iceberg that sinks the ship in credibility for the SECU Board.. SECU bOard really sucks!
ReplyDelete