Friday, December 15, 2023

The SECU Board - Race-Based Lending: "No,That Isn't What We're Doing"... Sure You're Not!?

http://www.thinkindependent.com.au/wp-content/uploads/2017/03/Aint-what-you-dont-know-Image-Mark-Twain-1200x480.jpg 

                 [⬆⬆⬆... also known as "Industry Standard".]

 

Why does the SECU Board/CEO appear to have a problem listening to the SECU membership on critical issues like RBL? 

😎 Talking down to the membership is not the same as talking with the membership.

  1.  Time to pause and listen harder to members' concerns on RBL?
  2.  How can that hurt?
  3.  Why not explain, re-validate, and confirm your RBL decision publicly?
  4.  Why not share the decision data and invite member critics into the discussion?
  5.  Does the Board believe that the national "PR" on discriminatory lending (as in the video below) will enhance the reputation of SECU?
  6.  Is the Board afraid of being wrong (again)? 
  7.  Wouldn't the Board/CEO want to be "d-sure" they're right on this issue? And, avoid another "good faith" retraction snafu?
  8.  What's the rush to ruin a great organization?

 
... maybe the Board and Ms. Brady need another letter from a lawyer?!
 
 
 
Imagine that can probably be arranged ...
but, wouldn't it be wiser (and cheaper!) to argue "your case" before the membership?
 
SECU can't afford to lose on this one... all the members will never forgive you!
 



 

18 comments:

  1. THIS is the path Brady & Co is taking SECU down full steam ahead!!! The members will be the only way to stop this madness before it's too late for US - THEY don't care!!!

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  2. "What's the rush to ruin a great organization?"

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  3. The reason we can't have open debates' nowadays is that 'they' can't defend their position so they resort to distorting the "facts"!

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  4. I just never thought I would see the day where SECU was trying to hurt the disadvantaged citizens of North Carolina. Crazy times we live in, crazy times...

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  5. All the actions taken by the board and executive management appear to be consistent with expanding SECU’s presence outside NC, creating a need to standardize and centralize services across platforms. Total incompetence in executing this plan displays a lack of creativity and one dimensional thinking. Preconceived biases with new leadership’s willingness to toss the baby out with the bath water closes the door to finding a balance between meeting existing member needs and expanding SECU’s presence. In some cases, member needs are disregarded as they are degraded. Some very talented people have been brought into SECU with great ideas, but leadership’s lack of transparency and inability to articulate their intentions prevent any efforts from aligning to meet their potential. The result is a complete embarrassment for SECU, heading toward a huge financial boondoggle. Seems like a reset is needed.

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    Replies
    1. I almost wish SECU was publicly traded. For the sole reason I could put my life savings into shorting it. How many times do you run across a sure thing in a lifetime?

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    2. Don’t give them any ideas

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  6. You want to see SECU excel? Eliminate the 3 digit credit score and let lenders get back to reading credit reports and making decisions. Loan Admin may not think we can do it but we’re actually pretty great at it when given the chance.

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    1. Only reason loan administration may not think so is LA refuses to analyze the historic data of 85+ years at SECU and compare to the last 2 two years of decentralized decision making and the last few months of RBL. By the way, why are they so afraid to show the members and ALL employees the presentation that convinced The Eight and Leigh that industry standard-Race Based Lending-was sooooo good? Convince us!! Show us the information that convinced you. Share all the data.

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  7. AI is a danger to the financial system, regulators warn for the first time ...

    https://www.cnn.com/2023/12/14/economy/ai-danger-financial-system/index.html


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  8. A GOOD Shepard watches over their sheep and protects them from the 'Industry Standard'!

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  9. Loan Administration has used artificial intelligence (AI) - their own - for three years now. Look at the measurable results in widening losses and delinquency. Tens of millions down the drain.

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  10. https://wearesecu.org/

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    Replies
    1. What happened to the propaganda site? Is SECU behind on APCO's bills? Careful, SECU, watch your credit score.

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    2. It was such a joke. Maybe they fired APCO for incompetence. Remember the out of state university they were advertising on the "wearesecu" website?! That was on for a LONG time until someone on this blog mentioned it, and Poor Leigh read about it here!! wonder who Poor Leigh thinks is"we are secu" now?

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    3. How much has all this cost SECU? That site was sponsored in Google results too.

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    4. quit griping, we raised your rate to 1.25 percent

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