Tuesday, March 14, 2023

SECU New Culture, New Direction - Gym Haze


https://i2.wp.com/naturalsciences.org/images/sliders/museum_facade.jpgJust in case some of you missed the remark awhile back about the gym at SECU. A commenter got a little hyper over a new executive gym which had just been installed in the basement of the SECU home office building on Salisbury Street in Raleigh.

But the point of his ire was a bit "hazy", so here's the rest of the story. You need to know that the SECU home office is located dead center among all the State museums, State Capitol, Governor's Mansion and the State Legislature  - truly ground zero for every schoolkid's first road trip to Raleigh. Teachers bring kids by the thousands every year from all across the State. Madness reigns for weeks - a spectacle of blue jeans, braces, and beleaguered chaperones!

Well, SECU has a kids starter savings account called the "Fat Cat " account - 'cause at SECU the kids come first (they're the real "A"-paper members, even without a credit score!). At a bank if you've got a bunch of money you're a fatcat. At SECU, you just need to be 12 years old or less (because when you become a teenager you turn into a li-Zard member - don't worry your parents get it!)                                                                          

http://4.bp.blogspot.com/-enIelOt6U9Y/UBiEOqLCvWI/AAAAAAAABBE/jsf3zbcTvNo/s1600/fatcat.pngWhen SECU built the building several years ago, it took the advice of several advisory board members who were teachers and added a Fat Cat room in the basement. The space encompassed a large area where school groups could sit to eat their bag lunches - and most importantly a whole host of bathrooms. Rainy days would pack the room to the great relief of all the road-trippers.

The Fat Cat haven is now gone. Replaced this year with exercise equipment for New Culture, New Direction senior executives! 

Purr-dy sure what the commenter was upset about...aren't you?!




The Alternative To Risk-based Lending - Which Works Better, Without Disciminating Against Members - RBL # 14

 To: SECU Board of Directors

Chris Ayers ImageDear Chairman Ayers, 

You and the SECU Board did not have to choose discrimination against the majority of SECU members in lending at the Credit Union. Yet you chose to do so, with a seeming disdain and contempt for the best interests of your fellow members - you simply knew better than lesser folks, didn't you?

You had a much better answer in terms of fairness and financial performance - see the quote below by Chairman Bob Brinson at your  2021 Annual Meeting. All you had to do was lower rates and volume soared! 


 SECU Annual Membership Meeting Page 3 October 12, 2021 Raleigh, NC

"Chairman Brinson reported that we had some exciting changes in lending with the roll-outs of the SECU Fast Mortgage® and SECU Fast Auto Loan™, the re-introduction of the 30-year fixed-rate mortgage, and significant drops in mortgage and auto loan rates. He advised that our members embraced the added convenience and value as indicated by significant increases in fixed-rate mortgage loan balances, used auto loan balances, and loans originated. "


So, now you have the worst of all worlds ,  discriminatory lending practices and un-competitive rates!  Strike 1, Strike 2, ... how many strikes do you and the Board feel you deserve, before you get sent back down to the minors?