Wednesday, October 25, 2023

If The N.C. Credit Union Division Doesn't Interpret State Credit Union Laws, Who Does?

Ms. Kristina Ray, Administrator of N.C. Credit Unions

October 25, 2023

Dear Ms. Ray,

Thank you for your October 19, 2023 response. In our letter of October 9, 2023, we asked two questions:

Q: 1)  Is the N.C. Credit Union Division required  by North Carolina law to monitor and enforce compliance by state-chartered credit unions with their bylaws?
Q: 2)  May a N.C. state-chartered credit union adopt rules, policies and procedures which effectively amend its bylaws without approval by the NCCUD

Your response on October 19, 2023 was as follows:

"Among other responsibilities, the North Carolina Credit Union Division (NCCUD) reviews North Carolina state-chartered credit unions bylaws for compliance with required information outlined in North Carolina laws, rules, and regulations. Each credit union’s bylaws contain procedures for requesting amendment approvals from the NCCUD Administrator. Additionally, some provisions within the standard form bylaws, which may be used by credit unions as guidance, allow for the credit union Board of Directors to adopt policies and procedures, as long as the membership is notified within a specified time frame before becoming effective. The Administrator approves or disapproves proposed bylaws amendments after a thorough review of the request. If you have additional questions relating to this matter, consult legal counsel."

✅ As laypersons, we are concerned that we may not fully understand your response. It seems clear that your answer to Q: 1) is "Yes" - is that correct? It would appear that you did not answer Q: 2). Would you please clarify your answer for us: "Can a state-chartered credit union adopt policies and procedures which amend its bylaws without approval of the Administrator?"

Would also ask why you continue to suggest that we hire legal counsel to answer these questions? The N.C. Credit Union Division - and you as Administrator, with the help of the Attorney General's Office - are the parties designated by the State Legislature to interpret and enforce State Statutes governing credit unions.

Look forward to your answer to a simple question first asked over 90 days ago.

Jean and Jim Blaine


  1. Good Grief Ms. Ray, answer the damn question!

  2. Delay, delay, delay. Duck, duck, duck. No one in administrations are doing anything, except patting each other the back. What is the point of Kristina Ray's position? Just some false pretense that there are protections for credit union members? Who do YOU work for, Kristina Ray?!?! A credit union member should hire legal counsel to get some questions answered about your job? The world of the haves and the have nots is ever widening, aided by bull^&%# like this. Kristina Ray, not currently on vacation, but might as well be. What a joke! Does the attorney general have no interest here? Seems like someone who is gearing up for a run for governor, might want to tune into this significant issue.

    1. Her bo$$ is running for gov and doe$n't want to ruffle any feather$ before the election...
      They will cross the street so they don't have to help you ...
      Society panders to the rich and famous ...
      Some things never change ... for now ;)

      'SECU - There Was a Difference'

  3. You see in the grand scheme of things, SECU members are just collateral damage to the new/new folks who have placed themselves in charge... No lifeboats for those who need it, ignore the sharks below 'They're friendly'!

    1. Oh yeah, the 'unsinkable' Titanic ... I remember!

  4. You see if you don't have lots of money, they view you as less than equal... hence pay more for our loan to you, and be glad we give you any! Now Get back to work plebs! Cut my lawn and fix my vehicle, I have a yacht party to go too ...

  5. "If you have additional questions relating to this matter, consult legal counsel."

    We are asking the AG's office which includes you, BTW who are paid with taxpayer monies, for an answer that should be an easy answer. Don't you work for ALL citizens of North Carolina? I believe we are entitled to an answer without having to "consult our legal counsel".

  6. According to her Linkedin, Kristina Ray was an SECU employee during Jim Blaine's time as president. You'd think she would know better....

    1. or maybe she knows his true character ...

    2. or someone else has told her to stand down ...
      her boss? wink wink ....