Often easy for the manufactured "dead fish" to distract ..... sorry for the recent "rot"!
Best to remember that the entire Country is closely watching the SECU Board election.... much is at stake!
Here take alook at what's really going on...:
The Contested Board Election at America’s Second Largest Credit Union
(Case study 3 of 3 on cooperative democracy)
What could be the most significant board election in the history of the credit union system is now underway.
State Employees Credit Union (SECU) North Carolina is in the middle of a two month qualification and member voting period for three open seats on its eleven person board. There are six candidates on the ballot. Three were board nominated-all sitting directors. Three are the result of their garnering a minimum of 500 member signatures supporting their candidacy.
Absentee voting began September 1 and in-person voting ends with the Annual Meeting on October 10, 2023.
SECU’s website contains documents describing the Annual meeting, critical dates and voting steps. The current board members are listed. There is a “Statement of Background” on each of the six candidates.
There is no other election information I could find on the website, such as statements from the candidates about why members should support them.
This Vote’s Impact the Credit Union System
SECU is huge. At June 30 it reported $49.6 billion in total assets, almost 8,000 employees serving 2.8 million members in 275 branches.
The first lesson from this vote is that one of the largest credit unions with members distributed throughout the state can successfully conduct a contested election for open board seats. Most large credit unions’ annual director “elections” are via “acclamation.” The number of candidates equals the open seats, so no ballot.
SECU shows the feasibility of both an absentee ballot and in-person voting culminating in the Annual Meeting.
Secondly member-owner voting matters. The outcome of this ballot will confirm or potentially reset the credit union’s business priorities with members. Given the circumstances preceding this vote, the members’ choice will make a difference. This is the owners’ role, but one rarely consulted.
How This Contest Developed
At the October 2022 Annual Meeting.... .... here's where you can read the rest of the story...
Vote now for: Perkins, Clements, Stone
THE MEMBER NOMINATED CANDIDATES!
I think the "rot" is more like fuel for the fire! Keep shining the light on these lawyers, judges, and old farts that seem to be willing to do anything and EVERYTHING possible to keep the less privileged down.
ReplyDelete"The focus was on serving those who might have the least, or know the least, but have traditionally been charged the most for financial services at other firms."
ReplyDeleteAKA fleecing the flock!
Hoping these 'current' money changers get their tables turned upside down!
"To many an outsider and professional peers, this approach seemed “old school’, out of touch with current options and overlooking major markets of opportunity."
ReplyDeleteI believe you are correct but ...
The CU isn't in the business of "major market opportunities". (although their older buildings sit on some prime real estate that developers are all drooling over, so the member/owners will benefit from some of these opportunities). They are in business to take care of the needs of their member/owners. THAT is their mission in life.
Somehow the board has forgotten their mission.
And by watching some of their business decisions I'm pretty sure the member/owners/employees ain't really their concern.
BTW, thank you Mr Filson for covering this important story for the rest of the world!
ReplyDeleteThe ending remains to be written ...
SECU Member/Owner
So, Chip Filson, a nationally recognized leader in the credit union industry sent an email to all six candidates... wanting to present their efforts as candidates on his web site. Two challengers responded but NONE of the incumbents responded??
ReplyDeleteMaybe if the current board members put in a little effort, they wouldn't make huge mistakes like choosing a CEO (Hayes) with a with a checkered past.
I’ve had a couple people ask about why they should vote for any of the candidates. Would be great if we could get statements from the member nominated candidates on why their fellow members should vote for them and post it on this site
ReplyDeletehttps://www.secujustasking.com/2023_09_05_archive.html
Deletehttps://www.secujustasking.com/search?updated-max=2023-09-05T07:00:00-04:00&max-results=3
DeletePlease, encourage your family, friends and coworkers who are credit union members to vote and let's show everyone how much we value being treated fairly at State Employees Credit Union. This is too important, we must all do our part in electing the right people on this Board. My family and I have already voted for Stone, Perkins and Clements and I encourage all members to do the same.
ReplyDeleteMany times we don't realize the importance of something until it is gone. All this has made me think about the many times this credit union has made a difference in mine and my family members' lives. I think about the many SECU employees who have went out of their way to help us over the years. For them and for my children's future, I will be doing everything possible over the next few weeks to promote the three member nominated candidates to everyone I come in contact with and banks at SECU.
ReplyDeleteResearch what a worker owned cooperative is SECU employees. This is what you’ll be losing if they get their way. That’s what they are fighting so hard to take. It’s not entirely about money. It’s about defeating YOU. They are WOLVES. They will wine and dine you until they have everything in place for the kill. You will realize it when it’s too late. (Oh well I’ll just find another job! Do you know how many worker owned cooperatives are out there? Very few.) That my friend is why they are truly being relentless in this corporate takeover. Taking over a worker owned cooperative. According to the new the society, those can’t exist anymore. Everything must be owned by a select few.
ReplyDeleteThe NWO can't have an independent financial organization.... you will bend the knee or else ...
DeleteAnybody else see the UAW worker strike? That’s how you put fear into these parasites. They’ll continue to press on especially after October.
ReplyDelete